MICHAEL PENTO: It Would Be More Surprising If Gold Didn’t Go To $10,000

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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:

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“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.
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