Tuesday, November 18, 2014

Latest Interview for Bo Polny

Readers here know we are following the predictions of Bo Polny over time to see how they turn out. His big picture forecast was a move up in gold prices above $2000. He first predicted this would happen by year end 2014 but now says his cycle analysis allows up until the summer of 2015 for gold to hit this price. His other big picture prediction is that we will get a very sharp drop in the US stock market.  You can access links to all his free to the public updates at his web site here

Mr. Polny did a new online audio interview released on 11-14-14 which gives his latest comments on his forecast. You can listen to that new interview here

As promised, we will follow his forecasts up to the middle of next year to see how they turn out. Friday was a good day for his gold forecast as gold rallied sharply to go back above a key support/resistance price of $1180 per oz. There are only a few weeks left in 2014, so gold will have to make a spectacular move up to go above $2000 by then. But Mr. Polny says his cycle analysis allows up until the summer of 2015 at the latest to meet that price target.

For now we will just see if gold continues a sharp move up or stalls out between now and year end of 2014. If gold does make a move above $2000 by mid 2015, you can expect that his stock market forecast is likely to pan out as well which is a big reason we are following it here. 

Obviously if he hits these forecasts, something big will be happening that could result in major monetary system changes sooner rather than later. That is our goal here. To watch for anything leading to such change (either quickly due to crisis or over time in a more controlled manner).

Update Added note:

While we are talking about gold these two interesting articles appear:

Central Banks - The New Gold Bugs?

ECB Might Buy Gold to Revive Economy

In regards to these articles, we wrote this blog article here a few months ago:

Dispelling the Myth that Central Banks Hate Gold 
(Mario Draghi says clearly he views gold as a good thing for Central Banks to hold)

Update 11-20-14: Rueters reports that support for the Swiss gold initiative has fallen and now it is not expected to pass.

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