WOW! "We Could See Gold Moving To $50,000 In A Few Weeks" - Bob Moriarty
Bob Moriarty, a distinguished financial author, brings a unique perspective to the world of finance. Bob states the potential for precious metals to thrive as safe-haven investments when a bond or stock market crash occurs. Gold prices edged higher, helped by a slight pullback in the dollar and bond yields. US gold futures settled 0.3% higher at $1,945.60 an ounce.
Due to its reputation for being a safe-haven asset, gold tends to perform well during a recession. For example, when the stock market collapsed in 2007, investment demand for gold spiked and continued to rise, and gold doubled in value between 2007 and 2011.
Regarding manipulation, Bob emphasizes that it occurs across all financial markets, not just in gold and silver. Meanwhile, Moriarty explains that JP Morgan's manipulation centered on minor price fluctuations in gold and silver, not prolonged suppression. In September 2020, JPMorgan admitted to committing wire fraud in connection with unlawful trading in the markets for precious metals futures contracts and unlawful trading in the markets for US Treasury futures contracts and in the secondary (cash) market for US Treasury notes and bonds.
JPMorgan entered into a three-year deferred prosecution agreement through which it paid more than 920 million dollars in a criminal monetary penalty, criminal disgorgement, and victim compensation, with parallel resolutions by the Commodity Futures Trading Commission (CFTC) and the Securities Exchange Commission announced on the same day.
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During the interview, Bob disagreed with the idea that the government holds absolute power, particularly in making gold and silver illegal. Founded in 2001, US Money Reserve has grown into one of the world's largest private distributors of US and foreign government-issued gold, silver, platinum, and palladium legal-tender products, as well as precious metals IRAs.
Meanwhile, Bob voiced concern over the unprecedented speed of rising interest rates, which has significantly impacted the current market. International gold prices rose on Friday despite stronger US Dollar and bond Yields as the market weighed the major central banks’ decisions to leave interest rates unchanged.
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