$35000 GOLD SOON? This Will Be the BIGGEST Gold & Silver Rally in Over 50 Years - Rafi Farber
Many experts agree that gold will likely increase in value in 2024 and continue to experience long-term growth.
"We are expecting gold to be pushed higher by a Fed easing. Also, this comes with a weaker dollar," said the investment bank's precious metals strategist Joni Teves, who expects the metal to hit 2,200 dollars per ounce by the end of the year.
Rafi Farber from the endgame investor stresses the dollar's ties to gold and silver, predicting a future where 95% may lose deposits, lowering gold to 35 dollars per ounce, or a weakened dollar scenario, lifting gold to 35,000 dollars per ounce. Meanwhile, Rafi dismisses the significance of deposit safety, asserting that every bank will be bailed out nominally. As of January 31, the balance in the BTFP stood at just over 165.2 billion dollars. That was a slight decrease from the peak of 167.8 billion dollars the previous week.
The fact that banks are still tapping into this bailout program nearly a year later is another puff of smoke. Unfortunately for the banking system, the BTFP goes away in March unless the Fed decides to extend the program.
Regarding tangible assets, like silver coins, Rafi underscores their value over digital currency. In a post-crisis scenario, he envisions those with tangible assets like silver having an advantage over those holding depreciating dollars. Silver remains an attractive investment option in 2024, mainly as a hedge against inflation and other economic uncertainties.
When the government prints too much money, the value of the paper currency tends to decline, and prices go up. In this scenario, buying silver can be a smart move to protect your purchasing power and diversify your portfolio.
Moreover, Rafi acknowledges everyone's role in weakening the dollar and suggests wisely investing in precious metals.
Rafi Farber outlines the bank term funding program and predicts the ending of BTFP could speed up challenges in the banking sector and repo market, similar to what was witnessed in September 2019. The RRP has since fallen to roughly 680 billion dollars 2—down 73% from its peak, and could be fully drawn by the end of 1Q 2024. At that point, the government may have to finance itself by issuing coupon-bearing debt, which could drain further reserves from the banking system.
While inflation affects everyone, Farber contends that the shift to hyperinflation reveals a stark reality for all. Wisdom Tree's forecast currently projects a 3.1% inflation rate at the start of 2024 and a 2.60% rate by the third quarter. This persistently high inflation could push up demand for gold and, subsequently, gold prices.
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