Repeat of 70s commodities super-cycle will lift precious metals: Rule
Rick Rule, CEO of Sprott USA, says despite the widespread claims by the mainstream media that the global economy is on the path to recovery, smart money will continue to flee from fiat currencies into precious metal as economic turmoil and inflation persist.
Speaking to King World News Rule says that we are currently in the middle of a commodities super cycle of the same scale and type as that which characterized the 1970's, which will eventually culminate into a rush en masse into safe harbor investments such as gold.
Rule expects more and more canny investors to shift to move out of arbitrary fiat currencies into precious metals as profligate money printing by central banks debauches their value, with the Chinese government already given carte blanche to its citizens to turn to gold:
My suspicion is that over time, more people will become comfortable with gold than they are with fiat currencies … The Chinese government isn’t trying to suppress the price of gold. It’s encouraging Chinese individuals to own gold….