Gold Should Go Over $6,000 and Silver $400
http://etfdailynews.com
Posted on Tuesday, February 21, 2012
The Gold Report: You last spoke with The Gold Report in October 2010. A lot of things have happened since then. You were predicting that the Fed would start printing money to pay its debts, thereby creating a Ponzi scheme, which it had, sort of, been doing all along. So, have things played out the way you thought they would? And, what are you expecting is going to happen in the rest of 2012?
Greg McCoach: I think we've been very accurate in that we'd see additional quantitative easing (QE) events. I remember saying when QE1 came out that they'd be doing QE2 and QE3. Of course the Fed denied that and the media said that's not going to happen. Well, it has and we are now at QE3. I believe we're going to see QE events indefinitely until the whole system implodes. So, on that part I feel we've been very accurate. But, on other parts we haven't been so accurate.
The junior mining share market certainly hasn't participated with the higher metals prices that we hit last year at $1,900/ounce (oz) gold and $49/oz silver. The juniors performed very poorly relative to those metals prices, particularly into the latter part of 2011 when the market really tanked. Tax-loss selling varies from year to year but last year was brutal, and even the best-of-class companies took a hit. But, I?m bullish for the long term.
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