It'll Happen OVERNIGHT! How Many Ounces Of Gold & Silver Are You HOLDING? - David Hay

Schroder Investment Management and UBS Global Wealth Management are bracing for a rocky second half, and gold has emerged as a preferred trade to navigate the volatility, according to interviews with their chief investment officers who were recently on roadshows in Asia.
David Hay, a seasoned investment advisor and financial author, discusses the impending economic crisis, the current US economy, and the gold rally. In his analysis, David Hay predicts that gold prices will reach up to 10,000 dollars, especially if the US needs to collateralize its treasuries with gold at higher prices. One possible scenario is that gold prices will keep rising this year. Although the precious metal has dipped down a bit below the recent record gold value, it remains up substantially for the year and could surpass previous highs.
Regarding investment strategies, Hay recommends focusing on gold miners, which are beginning to show positive earnings. Despite gold's rising prices, there are still outflows from gold ETFs, indicating a general apathy towards the sector. Hay emphasizes that gold miners are even more undervalued while gold is neglected. The gold miners will soon report what will almost certainly prove their best quarter ever. Mostly due to second-quarter record-shattering gold prices, gold miners' earnings should soar off the charts. Those will be further boosted by slightly lower mining costs, many of these companies are predicting. With such solid fundamentals, more professional fund managers should soon start investing in this high-potential sector.
From David Hay's perspective, there is a precise prediction that wealthier consumers benefit from higher interest rates while lower-income consumers and small businesses face significant struggles. He highlights rising bank failures and increasing loan defaults as indicators of mounting financial stress.
During the interview, David Hay stated that the US treasury market faces complexity, with smaller countries acting as significant buyers. As foreign central banks reduce holdings, Hay emphasized the increasing reliance on US retail investors and banks, highlighting the fragile nature of the treasury market moving forward. Unsustainable growth in the net foreign debt could lead to foreigners at some point reevaluating and reducing their US asset holdings. If this happened suddenly, it could lead to financial instability and a sharp decline in the dollar's value. Alternatively, if the growth in debt declines gradually, it is unlikely to be destabilizing.
Moreover, Hay's analysis points to a fragile long-term treasury market due to Federal Reserve tapering and bond maturation. He anticipates heightened short-term issuance exacerbating market challenges, suggesting potential stealth inflation to manage mounting debt burdens.

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