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Message: Alf Fields Predicts Gold $4,500
Gold could well go down to 1510-1530 then to 1410-1420 but if you are too greedy in wanting to catch the bottom, the train may well leave without you until it reaches $4,500, I just hope I don’t forget to listen to my own advice. gold stocks are as cheap now as they were when gold was last at $1400.
http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2011/12/16_Egon_von_Greyerz.html
Alf Fields appeared at the Sydney Gold Symposium.
for a summary of that speech via Jim Sinclair’s site. As Alf has stated we are in major wave three of a five wave long-term uptrend in gold that began in 2001.
“Once this correction has been completed, Intermediate Wave III of Major THREE will be underway. This should be the largest and strongest wave in the entire gold bull market. The target for this wave should be around $4,500 with only two 13% corrections on the way.”
Be sure to read the entire link and check out that charts.
Alf’s warning:
There are two things that are different about the current episode. This is the first time in history that fiat or government issued currency has been in use in every country around the world at the same time. Secondly, we have an electronic money system which is very efficient. It enables new money to be created at a faster rate than ever before.
Every experiment with government issued fiat money has ended with the destruction of that money There is no reason to believe that it will be different this time. The world’s 40 year experiment with floating “I owe you nothing” fiat currencies is coming to an end.
I have come out of retirement for this one off, once only, speech to warn that the good ship “Life As We Know It” is sinking.
You have the choice of getting into a life boat now or going down with the ship. The life boats consist of precious metals and other assets that will survive the coming currency destruction.
It is likely that gold will be the new unit of measurement or standard of value against which the performance of other assets will be judged. The challenge will be to find assets that perform better than gold.
VERY IMPORTANT READ. Perhaps you will feel better about owning physical gold in the mist of the last correction in 2011.
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