The world’s central banks have gold bulls on high alert thanks to unprecedented, ultra-easy monetary policy.
Eric King of King World News asked Michael Pento if this means gold $10,000 is coming.
Here’s Pento’s response:
“Absolutely. I know it sounds ridiculous, but don’t forget that back in the 1930s it was (around) $21 an ounce. No one would ever have believed that 80 years later we would have gold trading anywhere near $1,900 an ounce, but that’s what happened.
If you look at the rate of destruction of the purchasing power of all of the developed world’s currencies, it’s a slam dunk that gold is going much, much higher than its inflation-adjusted high of around $3,200 an ounce.