Sunday, November 14, 2010
Chances Of Hyperinflation 100%, Within Months: Gold To $8000
Turk believes, that the fair price for gold would at least double from the current level. His longer term price forcast between 2013 and 2015 is 8000 Dollar per ounce, a prognosis that he did already in 2003. If gold went from 35 $ to 800$ it could well go from 350 (in 2003) to 8000$ says Turk.
“In order to protect yourself you have to go to gold”, says Turk. “The fact of the matter is that there is a lot paper out there and very little gold. It only takes a small amount of people to move into gold to have a big impact on the goldprice. Just like it did back in the 70ies: Gold finally broke free at 35 Dollars and went from 35 to 200 in the course of three years. My guess is that in the next couple of years gold ist going to 2000-3000$ before its going to 8000$ in 2015.”
According to turk a gold confiscation could be possible if the price goes too high and reflects an alarm signal that there is something wrong in the financial system. “America did that in 1933 but they didn’t prohibit ownership outside the united states. And there may be a prohibition sgsin in the future. So you need to diversify geograficly, different countries, different political systems and hold your gold at different places around the world. In that way you can medicate the risk of confiscation.”
Turk believes that the chances of hyperinflation is 100%. The US is on the road to hyperinflation.
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