Right now I am receiving promotions from two sources.
One is Larry Edelson (via Weiss) who claims a good track record in forecasting gold and precious metal movements. He says that the bottom for Gold is fast approaching and that the coming conditions will send it to $5000 in three years, citing ”War cycles” that will run until 2020 as the core reason.
The other is Harry Dent, king of the demographics, who shows all the ”bubble” graphs, a description which also applies to the shape of gold prices. He makes a strong economic argument that we are about to experience major deflation. While others expect the money-printing to eventually trigger inflation and a dollar collapse, Dent says that we would be in deflation if it were not for QE and that the end of QE will see the start of massive deflation. He also says that the dollar will not collapse because all other major countries have also done QE, so there is a ”race to devalue” in place which the dollar will survive, relative to other countries. He sees a gold price that will be half or less, in the same timeframe that Edelson says will be triple.
They can’t both be right- can they?