All the Smart Money is Buying Gold

What is the smart money doing?  

For once it’s pretty clear.

They’re buying gold.

But don’t take it from us.

Fred Hickey writes a newsletter called The High Tech Strategist.  He’s been at it since 1987.  

Here’s a recent tweet from Hickey;

“ALL the smart money: Dalio, Druckenmiller, Tudor Jones, Zell, Gundlach, Singer, Klarman, Einhorn, Mobius (and some who I know are loading up but are doing it quietly) are long gold and understand the simple concept Hugh Hendry explains here. The question is: What are YOU waiting for?”

Hendry is a former fund manager who was asked in 2010 interview about the Greek sovereign debt crisis.  He answered succinctly (and correctly), “I recommend you panic.” The explanation from Hendry about gold that Hickey refers to is equally succinct:  In trying to debase the dollar to help the economy, the Fed will “definitely” help gold.  

The day before his comment about the smart money, Hickey tweeted this:

“With ink not yet dry on latest half trillion $ spending bill, this story of another planned spending splurge should scare the devil out of anyone concerned about deficits, national debt & unlimited QE (to “pay” for all this). Gold protects against such craziness.”

Hickey says that despite the sell-off, the stock market is still in a bubble, just like it was in 2000 and 2007.  In a recent interview, he said, “Just look at market cap-to-GDP which is supposedly one of Warren Buffett’s favorite indicators. It’s currently at 130%, a level that has only been seen twice: Today obviously, and in 2000. That means we’re still at bubble levels.”

In fact, Hickey says, we’re looking at the greatest downturn since the Great Depression.”

It is very likely that once gold runs through its all time high of just over $1,900 an ounce, more people will take notice and quickly propel gold much higher

We recommend beating the rush and buying now at these still advantageous levels.  Contact your Republic Monetary Exchange professional today.