One of the top gold strategists in the world, Robin Griffiths, says $8,000 gold is not unreasonable! China and India are becoming more dominant and to them, gold is real money.
March 29, 2011
KING WORLD NEWS-BLOG
With gold still consolidating above $1,400, today King World News interviewed one of the top strategists in the world Robin Griffiths. When asked about gold Griffiths responded, “Most western economies can’t get what Lord Keynes said about gold out of their head, he said it was a barbarous relic. And in our western culture it still is a barbarous relic, but we’re moving into a world where the cultures of China and India are going to be more dominant and they are the engine of the world’s growth. And in their culture, gold is real money, has been for thousands of years and will be in the future.”
Robin Griffiths continues:
“So what they (China and India) are doing is they don’t want to own any more paper money which can be printed by some guy with a printing press and a helicopter, they don’t want any more of that. They want more real money which is gold. So gold and silver are going up not because they are commodities, but because they are money.
If gold simply goes to its old all-time high adjusted for inflation the reasonable target is about $3,000 an ounce, so more than double today’s level. If you then factor in the Fed printing presses are still whirring away, they are printing the dollar like it’s going out of style, the estimates of up to around $8,000 an ounce believe it or not are not unreasonable.”
Robin Griffiths is at Cazenove which as a group now manages nearly £15 billion on behalf of their client base and is one of the oldest and most respected names in the financial community, tracing its origins back to the 17th century. Robin has over 44 years experience and is connected to many of the wealthiest families in the world. In many ways Robin has a bird’s eye view of money flows into the gold sector because of his connections.
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