Harry Dent says gold due to drop to $300-400 after bear correction

Topherclaus

Topherclaus

Active Member
Interesting interview which makes me wonder about his point on gold following inflation (which was very low again for the 3rd 1/4 running).

Harry says follow the smart money and it is all shorting gold right now.

Thoughts?

https://youtu.be/7RZOMPSBi7Y
 
Harry seems to have difficulty wrapping his head around the idea that there is not enough gold around to back a modern economy. I guess he never considered a price adjustment. It also seems painfully obvious that he is still stuck in the line of thinking that gold is priced in FIAT money 4eva and not the other way around.
He just does not get it. It is FIAT that is all over the place like a yoyo not gold, stupid.
If he is right and these is deleveraging and gold goes down to 500 Mickey Mouse bucks, then so will this wonderful free and fair traded stock market deleverage by a magnitude or so.
 
Snoopy said:
He just does not get it. It is FIAT that is all over the place like a yoyo not gold, stupid.
Click to expand...
Interestingly good news.
Then that should calm the minds of those who still obsess about the manipulation theory.
For a second there I thought a gold smackdown would cause a universal temporary price decrease of everything else in the world that is priced in fiat. :)
 
Harry Dent has been wrong about gold for years. It was going to fall to $1000 then $800. So now after he has been dead wrong, you should believe he is suddenly right. :D . Yes gold is going to $300 for sure lol. Seriously why stop at $300 maybe they will pay you to take it. They are doing that for cash in Europe so why not gold. Stop listening to BS like the stuff the Dent sprouts.
And by the way "smart money shorting gold". Well, so far, not so smart.
 
You and I will be dying from thirst before this happen = Gold won't be able to even buy a litre of H2O.

Gold $300-$400 after "bear" correction - what sort of bear is that - a very very scary bear from Hell :lol:
 
Dent says that gold is in a bubble right now but if gold is maybe just beginning to recover from what appears to be a bear market, how can it be in a bubble? Am I missing something....maybe a link? :lol:

Get it... missing link! ;)




.
 
The word "bubble" is the most flogged to death word in the English language.

The only bubbles in my lifetime are the Tokyo property market and debt itself.

JMO


OC
 
Topherclaus said:
Interesting interview which makes me wonder about his point on gold following inflation (which was very low again for the 3rd 1/4 running).

Harry says follow the smart money and it is all shorting gold right now.

Thoughts?

https://youtu.be/7RZOMPSBi7Y
Click to expand...

Didn't Soros just shift into gold right before it started to rise earlier this year?

What smart money is he talking about? The investment banks that have been wrong on the price of gold since forever?
 
Anything is possible.
It's better not to be sure.
Especially as gold is a threat to currency manipulation.
Ya pays ya money and ya take ya chances.
 
I love how much they flog him being "the contrarian's contrarian" while he talks about PMs like we're all absolute morons for considering it and that it's so clear it's beyond questioning. Yet some of the most well known traders, as has been said further up in this thread, are moving to the metals.
 
Topherclaus said:
Interesting interview which makes me wonder about his point on gold following inflation (which was very low again for the 3rd 1/4 running).

Thoughts?

https://youtu.be/7RZOMPSBi7Y
Click to expand...

So long as headline inflation continues to creep higher and the Fed remains reluctant to raise rates gold will continue rise. It doesn't need to be high, it just needs to be out-pacing US treasury returns adjusted for inflation which at the moment are near record lows. If the Fed really wanted to "try" to slam gold, all they would have to do is raise interest rates to 1-2% from the 0.25% that they are now in a short timeframe, but doing so will kill the economy and most likely cause the US to default on its debt as bond yields soar higher.
 
The FEDs got no ammo left to prop up it's fiat economy. Sooner rather then later it's gonna crash along with all it's helicopter money. Good, then my silver be worth lots lots more.
 
Skyrocket said:
The FEDs got no ammo left to prop up it's fiat economy. Sooner rather then later it's gonna crash along with all it's helicopter money. Good, then my silver be worth lots lots more.
Click to expand...

Hang on. :/
Can't have it both ways.
According to this:, that is a stupid thing to say. :P

Snoopy said:
He just does not get it. It is FIAT that is all over the place like a yoyo not gold, stupid.
Click to expand...

So... Which one is it?
 
^ the banksters been keeping my silver down. When their fiat world crashes they can stick their manipulation of my silver up their bum. :P
 
Skyrocket said:
^ the banksters been keeping my silver down. When their fiat world crashes they can stick their manipulation of my silver up their bum. :P
Click to expand...
:lol:
 
His main point:
Poor demographics and massive debt creation (relative to economic development) will create a massive deleveraging which deflate the money supply, and create lower prices all around.

Further:
Japan is worse off than Europe, which is worse off than US. Both in terms of demographics and monetary policy.
JPY will lose purchasing power relative to USD. (He states "their currencies gonna be weaker" ~16.00.)


That sounds like a contradiction to me. Am I missing something, or is he?
 
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