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Alasdair Macleod On Draghi’s Bazooka: “It’s Terrifying…$1400 Gold Could Happen Quickly”

by The Doc and Eric Dubin, Silver Doctors:

With Super Mario Draghi dropping a bomb on global financial markets Thursday, Doc & Dubin welcomed Alasdair Macleod out of London back on the show to break down the implications for the markets, gold, and silver:

On Draghi’s Bazooka QE: “It’s actually quite terrifying…“

On Gold: There is a Golden Cross Underneath a Rising Gold Price, as well as a Pennant Formation! We’re looking at a minimum gold price of $1400, and it could happen quite quickly…

To my surprise, we didn’t see much Federal Reserve jawboning this week.  We certainly had the perfect set-up for flapping gums.  Perhaps Fed officials were laying low as the ECB and Draghi took center stage?  In any event, the Federal Open Market Committee (FOMC) meets next Tuesday and Wednesday to discuss interest rate policy.  It’s very unlikely the FOMC will decide to hike rates.

Most analysts and pundits in the precious metals camp are uneasy, expecting a big correction and/or cartel smack-down at any moment.  I’ve outlined a few set-ups where risk for another attack has been elevated, but each time we do see profit taking and cartel capping, buying overwhelms it and at worst, we have trended sideways on a weekly basis.  You can see this most clearly in the gold trade from March 3, onward.  The cartel uses time in its favor, attempting to exhaust momentum and as we move through these sideways consolidation patterns, a veritable paper issuance fiesta is underway (COMEX and beyond), absorbing rising paper demand.  However, both paper and physical demand are not letting up, and the stalling to dilute momentum tactic hasn’t worked.

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2 comments to Alasdair Macleod On Draghi’s Bazooka: “It’s Terrifying…$1400 Gold Could Happen Quickly”

  • Craig Escaped Detroit

    I would not be TOO surprised to see the price of gold go over $1,800 by Christmas, and who knows how high & how fast gold and silver will jump up when so many things are ready to blow up.

    I’m just glad the cartels have made it possible for me to continue stacking at such CHEAP prices.

    It’s also SO SAD that so MANY people are NOT stacking and they will be in such deep trouble when the trouble comes.

    I know a couple of people who think it’s a good idea, but only after they “pay down” or pay off their debts (which will take a year or two to get out of debt.)

    I’ve tried to advise them, to pay down their debts a little bit slower and buy some silver RIGHT now so at least they’ll have SOME silver, and if the price of silver jumps up 400% quickly, then those people would either have some good, SAFE money, or if they were stupid, they could sell their PM’s and pay off ALL their debt (just as the dollar falls to zero.)

    The idea of putting of PM’s until after you are out of debt, means they run the bad risk of being out of debt, out of money, out of a job, out of food and out of silver all at the same time.

    It’s better to hang ONTO the debt so you can get your hands on a stack of silver before it’s gone.

  • Ed_B

    While it can be a tricky balance between paying off debt and buying something that some are not sure they will ever need, those who think in terms of “what if…? will know that it is better to have and not need than to need and not have. Those of us fortunate enough to have no debt and a pile of PMs will do better than most when the SHTF but it still won’t be easy for any of us. In a s**t-storm, everybody gets wet… it’s really just a matter of how much.

    Agree on people buying even just 1-2 rolls of pre-1965 dimes. These will be $100 or so each, depending on quality but even culls have silver value. Also think that having some extra cash in small bills of $20 size and less is good. Everyone who preps started small and worked their way up to a much better prepared position in life. Whether they start with food, water, ammo, or PMs any start is good.

    IIRC, Ben Franklin once said, “He who fails to plan, plans to fail”. This is sound advice for just about anyone. Make plans, evaluate them, improve them, and implement them. If the plan isn’t perfect, then modify it until it is as close as you can come to being perfect for your needs and the needs you foresee having in the future.

    Problem with many people is that they assume that the future will look JUST like today. But since when has that ever been true? Hardly ever. Those who partied their way through the Roaring Twenties got their rude awakening in October of 1929 and then through the 1930s and into WW-II. None of those following days looked anything like the previous days. This aspect of life is unlikely to change anytime soon. Be aware… be vigilant… and be ready. Only then will we have a decent chance of making it to better days.

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