Stocks Set To Plunge – Gold To See A Spectacular Surge
October 7, 2013
With gold and silver moving higher, and the Dow threatening to break the 15,000 level, today King World News is pleased to share the thoughts of one of the top strategists in the world, Robin Griffiths of Cazenove out of London. Cazenove Capital is the appointed stockbroker to Her Majesty The Queen. The acclaimed strategist warned global stock markets may now be set to plunge, but he also said that gold would see a spectacular surge as stocks cratered, and he even gave a price target. Griffiths also had some fascinating comments about central planners and their artificial impact on major markets. Below is Griffiths’ outstanding piece.
By Robin Griffiths
October 7 (King World News) – “World Investment Strategy”
One of the central tenets of cycle theory is that the long term trend always dominates the shorter term cycle. Joseph Schumpeter, the Austrian economist who did so much to promote our understanding of cyclical behaviour in the 1930s, warned that what he termed “external events” could temporarily distort the contours of a cycle.
When one of these external events occurs, the shorter term cycles are more easily blown off course than the longer terms ones (although these, too, can be twisted by very extreme events). In the current situation we regard Quantitative Easing (QE) as an external event because it is specifically designed to prevent the market acting as it would do without this intervention….