Issue #170
Dear Member,
I’ve been on the road for the last few days, giving speeches and talks on my Cycles of War forecasts and deflation. But I’ve been on top of the markets, monitoring them almost 18 hours a day.
Gold and silver are sliding hard. Deflation is striking Europe, and the latest indications are that it will soon hit the U.S. hard as well.
That’s particularly true because the U.S. dollar, as projected, is now soaring, yet again — as Japan embarks upon another massive scheme to try and devalue its currency to ward off deflation there.
Money printing in Europe and Japan will not do the trick. Just as it didn’t stoke inflation here.
In the end, what will work will be a massive restructuring of the world’s now $158.4 trillion of debt, and a new monetary system.
But that’s years away. Between now and then, the financial markets are largely going to be caught in the grip of deflation, while whatever capital is left is going to seek out a return and safety, from the U.S. equity markets.
Right now, gold is down nearly $32 trading just below a MONTHLY SELL signal. Silver is down roughly $0.50, also trading just below a monthly sell signal.
Your bearish positions on gold and silver are SURGING HIGHER. And I expect much more gains on them to come.
Meanwhile, the stock market has caught another bid, but I do NOT expect it to last. The correction in U.S. equity markets will soon resume, albeit from a higher level.
Hold all open positions and related stops. I need to see the closing action in the key markets today and the trading action Monday morning before recommending your next moves.
Best wishes,
Larry
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