Doug Casey's Ultra-Bullish Call on Gold

[Recyclersteve]

Doug Casey of Casey Research had made bullish calls on gold before and has recently made a very bullish call on gold saying it could go to $5k (or higher) pretty soon- I didn't see a timeframe mentioned. He was talking about profits in the neighborhood of several thousand percent betting on gold. I am assuming he was talking about buying long call options in the stock market to get this kind of return.

He said the triggers for the upcoming big move are a March 31st, 2017 change to a law (announced on 12/5/16) that allows Muslims (1.6 billion people) to own gold. Also there will be a new gold trading platform available then which is supposedly backed by physical gold instead of paper. He says gold was previously off limits to Muslims for something like 42 years, presumably because of the paper trading of gold. He also said there are currently 112 Islamic billionaires in the world.

Also, he mentioned the 2016 Shanghai Gold Exchange where trades are backed by physical.

He says that recent aggressive buyers of gold include George Soros ($475m of Barrick gold in 2016), Stanley Druckenmiller ($23m in a gold ETF), John Paulson ($900m invested in gold), and Ray Dalio (whom he said is buying).

Does it seem legit or like another hype job? If there are other places in the world where gold is legitimately backed by physical gold, but we don't make any changes in the U.S., won't the markets still be subject to paper manipulation of gold? What about the new restrictions in India on owning more than 500 grams of gold? Any thoughts on how this plays out?

Here is a link: https://www.caseyresearch.com/special-r ... de/kpov2/n

[wolvesdad]

Definitely a hype job. But if the last mentioned thing of billionairs(Soros, etc) buying big is legit, then that could be a sign that a move upward is coming.

The muslim gold thing was in the news a couple weeks ago. I remember they could own pure physical gold no problem before, but this new development allowed them(for the first time) to buy and trade paper gold because it will be through an approved market that guarantees the gold is actual and pure....making it kosher.

I don't think the muslim 'change' will do more than bump the market. The US billionaire thing (not itself, but what they see happening) might bring gold back up to $1,800/oz or higher.

But I certainly would NOT make any leveraged or debt based moves because any of this. Same rules as always...keep enough cash for emergencies, if you have extra you can 'deposit' in PM for 5-20years and think now is time to get it all 'deposited', go ahead.

[johnbrickner]

I'm thinking hype job also but, as wolvesdad points out there are elites that are buying. Some elites doing more than that: Like taking their winnings and buying islands, condos in out of the way gated communities with security, private jets to go on a moments notice, while storing bullion and fine art in private vaults, etc..

I'm no doom and gloomer, more like the father of an Eagle Scout so being prepared isn't job #1 but it's up there. When the uber rich start prepping take notice. Not for taking profits but for your own rear end.

When the Elites start jumping ship it's to late to start a lifeboat strategy. I can only repeat The Same Rules Apply as Always . . .

("making it kosher" LOL you're a funny guy)

[beauanderos]

Newsletter subscriptions are sold on the basis of fear or greed, oftentimes a blend. Greed gets old after watching "can't miss" ventures crash and burn several times, or the predicted
precious metals blastoff never occurring... or occurring for one day then getting slammed back down to the mat time after time. My fear sensors were burned out and numbed insensate long
ago. Whatever will happen is going to happen. Someday.

Be prudent, frugal, and enjoy life. Bill Bonner recently put up a six part series for boomer survival emphasizing a philosophical take on wealth. The poor still have hope because they believe
that sudden wealth will improve their lives and make them deliriously happy. The wealthy understand that happiness does not come from wealth, which is why their suicide rate is
much higher.

Live well within your means... and live well within your means.

oh, yeah... and Happy New Year's!

[68Camaro]

+1

Newsletter subscriptions are sold on the basis of fear or greed, oftentimes a blend. Greed gets old after watching "can't miss" ventures crash and burn several times, or the predicted
precious metals blastoff never occurring... or occurring for one day then getting slammed back down to the mat time after time. My fear sensors were burned out and numbed insensate long
ago. Whatever will happen is going to happen. Someday.

Be prudent, frugal, and enjoy life. Bill Bonner recently put up a six part series for boomer survival emphasizing a philosophical take on wealth. The poor still have hope because they believe
that sudden wealth will improve their lives and make them deliriously happy. The wealthy understand that happiness does not come from wealth, which is why their suicide rate is
much higher.

Live well within your means... and live well within your means.

oh, yeah... and Happy New Year's!

[Changechecker]

Doug Casey sells books. As said he needs to keep the masses interested. That's one part of his income stream.