Notes from Mike Campbell's Emrgenecy Gold Summit:

Martin Armstrong

Is calling for $5k in 2017, cooling off period and sideways until late 2015(October) based on deflationary forces as US$ is only game in town. Repeat of history, there is a $ devaluation coming, just not yet.

Euro under 80 cents, pound under par. Has to shake the tree to get change and reform. Markets need to go to extremes. US$ up will cause lots of pain to the record shorts.

Extreme volitility will cause political change.

Gold - retest previous high 875 - 907, support 1150-1050. Adjust gold 875 for inflation - 2300. Real resistance. Once through there, it will pop up dramatically. Worst performin gni investments over last 20-30 years that will eventually catch up. Short bursts to the upside over the course of 2 years.

Entry point 1150. Bulk of decline in any bear market is in the first 2 years. 875 to 293. This year should be over by year. Bit of a bounce. Pay attention to the german election s in september. If Merkel loses, capital will flow out into US$.

Jump through 3, brings 5, Dow at 20k.

August 7th, turn in economic confidence to hit in September.

Silver - in general follow gold, more volitile as industrial metal may prove less demand for industrial but will go higher.

Worst case below 10$, doesn't think it could get that far. Upside $90-100.

Pay attention internationally. Europe is the problem, the politicians are lawyers and have no idea what happens when the unsecured creditor nations go down.

Dow will take off again later in the year.

Mark Leibovit

New US$100 coming out in September. Half of it is gold coloured. Some meaning to that with a new gold standard tieing currency to metal.

Short term, double bottom formed. Could be violated but technically it is a good trading. Currently in a short term bear cycle.

If real double bottom, 1500 is the target.

Most important chart of the evening, symmetry of gold similar to 2008. This is tyhe shake out and gold is oversold which could take several months. When this turns up, it will be powerful but picking the bottom is a fools game. 1500, below 1300, bottoming pattern.

Looking for a wash out low. Terms of potential is $10k plus to 2020 using T-theory. (Armstrongs is also up there, 5k is the second high in the uptrend).

Silver - a lot of upside potential, higher target than $100 - 2,3 or 400 in a panic situation.

Be patient. Flag formation is forming. Think Apple Computer. 500% advance after Apple flag formation ended. Several months to keep an eye on it.

Gold Silver ratio. Look for 80 for bottom in silver. Currently 60ish. Historically 15:1 as written inthe constitution.

Gold stocks(he used Newmont as an example) lows aren't in yet for the majors. GDXJ clearly down, gap at 1375, playing a bounce, volume is coming in, gaps will fill but trend is still down looking for a bottom and change of trend.

Silver target lows to shake the tree 19, 14

Gold lows 1298, 1244, 1160, 1028, 993 - he wouldn't be surprised to see 993.

Big moves happen after the washouts.(I'm thinking San Gold)

David Bensimon

Too technical to write and pay attention.

Price is going higher after correction.

Will price correct relative to gold move from 2008-2011 or from 2001-2011? Hard, fast and deep or slow and steady?

1440 violated 1300-1280 coming, correction of the 2001-2011 correction currently in order. Bottom will happen in May/June of 2013.

$640 decline from top.

Next 2 weeks the low will be in. 24 of May to June 7.

Near term bounce to 1540 over next 2 months, July 26.

Alternatives-

If 1320 bottom is in, 1440 close would confirm bottom

If it goes below 1280, then long term chart from 99-2011 geometry becomes support and triggers drop to 1150, 1100, 900.

Doesn't expect it to go below 1280.

If 1280 holds, there will be an all time high in 2014, with an eventual rally to May 16, 2016.

34 months up, 21 months down, 34 months up.

Silver ultimately outperforms gold to 15:1; 3x - 4x move in gold.

Specifics - 1st week of June the low will be in.