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James Rickards said:...
My next forecast is that a bigger and more acute Stage 2 of the banking crisis is coming after the quiet period that has prevailed since June. This new crisis will be focused on about 20 banks with $200–900 billion in assets — the so-called midsized regional banks that are not too big to fail.
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The investment choices are clear. It will be a bad year for stocks, a good year for Treasury securities and a down year for commodities, except for energy and gold. The winners will be Treasuries, gold, oil and King Dollar.
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More than three-fourths of economists — 76% — said they believe the chances of a recession in the next 12 months is 50% or less, according to a December survey from the National Association for Business Economics.
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I offer dry storage to PMbug members for free.Looks like any gold spot < $2k is a buying opportunity. If it goes below $1900 back up the truck. I like platinum too when 1oz sovereign coins are < $1k. When that metal pops it's going to move faster than silver. I have silver, but really only a fan of kilo bars. I always get some kind of tarnish on a few coins since 1975 because of the humidity in Florida.
Every Prediction Has Changed For Gold and Silver Prices in 2024 - Rick Rule
Jan 1, 2024
15:23
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In a recent interview with CNBC, Aakash Doshi, Citi’s North America head of commodities research, said that there is a chance gold prices could hit $3,000 an ounce within the next 12 to 18 months.
However, this is Citi’s bull-case scenario and its base case is slightly more muted. The Bank Citi sees the precious metal averaging $2,150 in the second half of 2024. Doshi said that gold could reach a new record towards the end of 2024.
While many analysts expect gold prices to hit record highs this year, the institution with the most bullish outlook remains Bank of America, as its commodity analysts see the potential for gold to hit $2,400 an ounce this year.
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I didn't do too bad. Thankfully I was not entirely correct (that we know of yet anyway) about the Fed developing a CBDC (it's still possible that they are developing it under the radar).Here are my predictions (let's see if I get any of them right):
- The Fed will extend the BTFP program and continue it's stealth bailout for regional banks, thereby avoiding a banking crisis in 2024.
- Central banks around the world will ramp up CBDC development. The Fed will start lobbying Congress to pass express authorization for a retail CBDC here in the USA. If they don't get it, they will proceed with development of a wholesale (bank level) CBDC.
- The election year has the Fed walking a tightrope with wanting to ease (cut rates) to make markets happy and needing to stay restrictive to keep a lid on inflation. The inflation fight will last longer than markets are currently expecting. That's going to induce headwinds on stocks and gold.
- Crypto has some growth vectors that are going to sustain a bull market through 2024. I think the spot BTC ETFs finally get approved by the SEC.
- OPEC/Saudi/BRICS will continue to challenge American hegemony. America's debt is going to continue ballooning (accelerating) as it finances military responses around the globe.
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