GoldMy Comment: It's all about the debt. And sovereign debt will explode higher in the next recession. How much longer can they hold things together? I'm expecting the US national debt to rech $40 Trillion by 2026.
Stop worrying about the pennies as gold and silver consolidate, focus on the bigger trend, says analyst David Brady | Kitco News Excerpts:
Brady added that $3,000 is only a mid-rally target, which triggers a much steeper correction; long term, he said he sees prices going to $5,000 and potentially even $10,000 an ounce.
“This is the start of a bubble in precious metals,” he said. “This is going to go on for a decade or two, or maybe more because confidence in fiat money is disappearing.”
In a world that is drowning in debt, Brady said that gold and silver remain the only solid store of value. Currently, the U.S. debt is $34 trillion, and many economists, including Federal Reserve Chair Jerome Powell, have said that it is on an unsustainable path higher.