Last Warning! Why I Changed My Entire Prediction on Gold and Silver Price - Gregory Mannarino

In a recent analysis by Gregory Mannarino, often dubbed "The Robin Hood of Wall Street" and Founder of Traders Choice, a critical examination of the ongoing debt crisis and its ramifications on the financial market and government policy is brought to the forefront. While currently in turbulence, Mannarino believes the debt market could ultimately find stability. He advocates for investment in undervalued commodities, with silver being a standout favorite, closely followed by gold.
Fluctuations in gold and silver prices in May 2023 were primarily linked to debt ceiling talks. Gold hit a high of 2,048 dollars per ounce on May 10th but then dipped below the 1,980-2,000 dollars support range, settling at around 1,960 dollars. Silver closely tracked these movements with a Beta of 2 to 2.5 relative to gold.
The concerning aspect of this scenario lies in the significant debt accumulation by the United States over the past decade. Congressional approval of trillions of dollars in spending has nearly tripled the national debt since 2009, with the gross federal debt reaching an astonishing 33 dollars trillion. The US government has been running an annual deficit of approximately 1 trillion dollars since 2001, indicating that expenditures consistently surpass revenues.
Mannarino's perspective centers on the idea that the prevailing debt issue perpetuates a deficit, and the current system relies on the continuous expansion of debt to sustain the existing way of life. He argues that a significant crisis is needed to trigger public outcry and facilitate the introducing of a new system.
Furthermore, Mannarino suggests that adopting digital currencies may be more readily accepted if the existing system is allowed to develop dependencies and grow problems, eventually presenting the new system as a solution. Notably, approximately two dozen central banks across emerging and advanced economies are expected to introduce digital currencies into circulation by the end of this decade, as indicated by a Bank for International Settlements survey.
Central banks worldwide are actively exploring the development of Central Bank Digital Currencies for retail use as a response to the diminishing role of physical cash and the increasing dominance of digital payments by private entities. Moreover, some are even delving into creating wholesale versions of these digital currencies tailored for transactions between financial institutions.
However, Gregory Mannarino holds a different perspective. He believes that central banks, in tandem with global institutions like the Bank for International Settlements, are moving toward a global governance model without using military force, manipulating crises to their advantage.
Meanwhile, global interest rates have surged unprecedentedly over the past year, with the Federal Reserve increasing US rates by 450 basis points from near zero. The European Central Bank has similarly raised rates by 300 bps, and many other regions in Europe and developing economies have implemented substantial rate hikes. This financial environment has led to concerns about the resilience of the global economic system. In this context, the BIS report also highlights the relationship between rate hikes and financial system stress, particularly in high private debt levels.

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