We promised to follow the forecast of Bo Polny here because he is making two very bold forecasts that would impact monetary system change if they did happen. First he predicted gold would rise to $2000 by year end of 2014. Obviously, he missed that initial forecast from a timing standpoint. However, as the year progressed in 2014 he revised the timing window up to June 2015. So we will follow it until then to see what happens.
His other major forecast is for a major stock market selloff in 2015. It is still early in 2015 of course so we will follow this one also to see what happens.
Today Mr. Polny provided a new free update on his blog site which you can see by clicking here.
In this new update, he maintains his forecast for $2000 gold by mid 2015 and repeats his stock market selloff forecast. Obviously, if he hits either or both of these forecasts, some major events will be underway that would impact monetary system change which is what we are concerned with on this blog. I should mention that Mr. Polny is not alone right now in forecasting a major stock market drop this year as many analysts are calling for that now. Even 50 year market veteran and CNBC anaysyt Art Cashin is advising caution.
I will add that 2015 has started off very volatile in all markets so this adds some validity to the idea that this year may be bumpy. Historically, high volatility has come before major stock market moves to the downside. So obviously, we all need to stay alert to events in real time. The next global event that may impact markets could be the upcoming elections in Greece (January 25th). Highly placed sources that read this blog indicate to me that most people on the ground in Greece do not think Greece will exit the Euro no matter what the election results are. But the markets don't like uncertainty, so expect anything leading up to the election itself.