I always pay attention to what Ian Gordon, chairman and founder of the Longwave Group, has to say because I completely agree with his long term outlook on gold and fiat currencies. Here are some excerpts of a recent interview:

There are compelling reasons to be bullish on gold particularly, simply because there is a real worldwide crisis in fiat money. The unfolding crisis is similar to the 1930s, when the whole monetary system collapsed. We’re envisioning something quite similar to that collapse is now occurring.

We can see that there’s this huge move to gold, not only by countries like China and Russia and even the small “-stan” countries, but major investors are also taking up the physical metal because they can see this crisis unfolding.

I’m extremely bullish on gold. Bullishness in gold, according to the website Market Vane, is at 40%, the lowest it has been since 2001. Bullishness in the stock market is at 70%, which is almost the highest it has been since Market Vane began tracking it. I see a reversal occurring here, for the gold price to the upside and the stock market to the downside.

I started to buy gold and silver stocks in 2000 because they were cheap and no one wanted them. We are in the same position in the market today. We know the bullish consensus numbers for gold are at the same levels that they were in 2001. You can buy these things really cheap.

The only reason anybody wouldn’t be buying them is because they don’t believe that the price of gold is going to rise. I believe that the price is going to rise substantially because the chaos in the financial markets is going to be horrendous.

Reade the full interview here

Source: The Gold Report

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