Harry Dent: Gold will collapse to $750

Harry Dent is saying that gold will halve in price, and that the dollar is the place to be during this crisis. Do you have sober reasons to provide for why he is wrong?

youtube.com/watch?v=UboMFpCpJvo

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BRRRRRRRRRRR

Dent argues in the video that all the money-printing has barely made an effect on the price of gold, and that this is a sign of weakness. He says that conditions for gold could not be stronger, and yet it is not moving very much.

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For the price to collapse that much the world would have to end and gold suddenly become a literal toxic asset

I unironically think we've evolved beyond gold and silver. Crypto, amongst other factors, has made it inconvenient and obsolete.

Yea I know how bugfuck this sounds. I own 10 oz silv. myself, but look what just happened. The govt just printed more money than they have in the last 100+ years combined and not even a blip on the precious metals price.

Granted maybe theyre suppressing the price but if so theyve become remarkably efficient at it.

If only history didn’t exist.

Gold at 750 an ounce? Please yes.

Oh yes please.

Harry dent has been saying for years that gold will fall. gold was at 1000 he said it will go to 750. He may be right one never knows.

Haven't seen ol' Harry 'even a stopped clock is right twice a day' Dent in a while...thanks OP!

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Correction, even worse than that, gold is actually down today.

Im not saying sell, gold and silver have been stores of vslue since the beginning of time. Eho knows, the entire ponzi could collapse and all those boomer rocks suddenly become worth their weight in, well, gold.

But in the short term this is lookingly increasingly more and more unlikely.

Gold probably had the same problem oil does. Improved techniques leading to higher yields leading to gluts in the market.

How is that correction? Stock markets are back to 2019 levels.

The comments in that video made open a gold short. So many normies are gold bulls now. They literally believe it can’t go down.

It doesn't go down because central banks world wide are still stacking it.

Economists are glorified Palm readers/psychics at best, deliberate agents of misinformation at worst.

This old niggers get rich out of talking about hypothetical situations their whole lives and when one situation comes true, they brag about it and convince people to let them invest their money for fees.

>Buy my (((newsletter)))
>I predicted the financial crisis of 19xx, and 20xx!

Dent did actually sell his house in 2005 and start renting, in anticipation of the housing bubble collapsing. This is the reason why he has some credibility. It wasn't only Peter Schiff who predicted the 2008 crisis.

Both Dent and the gold-bugs (Schiff, Maloney etc.) have been right about the sick state of the economy and the fact that it is in a bubble. The problem is that the two sides disagree about how to protect yourself. If Dent is wrong and Schiff is right, you hold dollars, they get inflated away, and you lose everything. If Dent is right and Schiff is wrong, you hold gold, it collapses owing to deflation, and you lose everything too.

it's at a seven year high though

yeah, why would it drop to lower than it was before in a normal economy?

CHECKED satan give me cheap gold

what if, and i'm going out on a limb here, that you had some gold and some cash

The reason why we are even at a seven-year high is because gold shortly collapsed after the last high from $1900 to $1000. That is what concerns me.

I had to make a Brrrr folder I'm dying so hard rn. coof coof

Then the S&P moons to 400.

oh please oh please it's my only hope

considering it's insanely overvalued, that's not a bad prediction. I would thinking 11-1200 but anythings possible

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You have a binary view of reality...

How about they’re both wrong?

Peter Schiff isn’t the only person to predict the 2008 crisis. There was a fuckin academy award winning movie made about people who predicted it. Spoiler: there is no character in it named Jeter Spliff or Panker Cheif or anything else that sounds like “Peter Schiff.”

Peter Schiff has been larping as a character out of The Big Short book for over a decade now. Why don’t you follow the investment strategies of people like Burry and Eisman? Not contrarian enough for you?

Who are these other people who predicted it? Where are they now? What are they suggesting we do?

You tell me what you think the right strategy for investment is right now.

I just named two of them. There are many others. I am unironically long on automation and some biotech companies

It'll happen once dollar hoarding ends and everyone is then racing to grab physical goods and assets.

What do you suggest for automation?

Gold has a market cap of about $2-3T. It takes billions of dollars to move the needle a tenth of a percent.

If gold falls, what about silver? If silver stays exactly the same oh lord how I will stock up on gold.