Gold price will see tsunamic increase despite dips, says billionaire investor Frank Giustra
“Danielle, pick a number. Seriously, pick a number and I wouldn’t disagree with you. I don’t know but its going a lot higher. … People still don’t believe it. Most of the investing public still doesn’t believe it. You have all of these trillions and trillions of dollars sitting in bonds. And a big chunk of what’s in the stock market too. Where is that money going to go when it starts to panic? … It’s going to go to gold and other hard assets – commodities and other hard assets. It’s the 1970s all over again.”
USAGOLD note: Always interesting to touch base with Frank Giustra …… The above is his opening salvo when asked the question: “Where does Frank Giustra see the metal now? Where does it go from here?” Giustra is not the first student of contemporary economic history to summon the stagflationary 1970s as the prototype for today.