-- Published: Sunday, 5 June 2016 | Print | Disqus
Featured Guests
David Morgan & Bill Murphy
Summary
Bill Murphy from GATA.org returns to the show with his latest insights on the PMs sector.
Gold is off to the best start in a decade, while more than 10 major mining companies have doubled in value.
In the first quarter, about 1,100 fund managers including billionaire George Soros bought more than 78 million shares of Barrick Gold Corp (ABX).
Hedge fund legend, Stanley Druckenmiller continues to add gold to the portfolio following record QE by monetary policymakers in Japan, EU, and the US.
Druckenmiller bought 1.8 million shares in Barrick (ABX), which has gained over 100% this year.
Several of his colleagues concur, noting that gold does not carry negative interest rates.
The move by Soros and others to own Barrick, suggests that major players who sold at the top are finally returning to the market.
Since the big players cannot purchase smaller companies without putting the price up on themselves, smaller cap miners could benefit from the theme.
Bill Murphy notes that when silver closes solidly above $18.50, a return trip to $50 is inevitable.
David Morgan a.k.a. "The Silver Investor" from the Morgan Reportgives a detailed overview of current silver market conditions.
Our guest adds must hear information to the Silver Majestic story, where the CEO was contacted by a large electronics manufacturer seeking silver supply.
The PMs bottom could be in place, due in part to a slow motion global economic implosion.
The silver market will likely build up momentum through higher highs and higher lows.
Silver aficionados will delight in our guest's prediction of a 2011 style, exponential climb in silver price, culminating with much higher than $50.
The mining shares sharp advance is de facto evidence of higher bullion prices to come.
David Morgan suggests building a solid bullion position in a diversified investment portfolio, followed by the addition of paper PMs assets.
The tipping point will likely occur once investors lose confidence in the global reserve currency, which will direct massive inflows from all currencies worldwide.
Unlike the 1980's PMs zenith, inflation and rates remain at record low levels, suggesting huge upside potential.
GATA Chairman Murphy grew up in Glen Ridge, N.J., and graduated from the School of Hotel Administration at Cornell University in 1968. In his senior year he broke all the Ivy League single-year pass-receving records. He then became a starting wide receiver for the Boston Patriots of the American Football League. He went on to work for various Wall Street brokerage firms and specialized in commodity futures. He began as a Merrill Lynch trainee and went on to Shearson Hayden Stone and Drexel Burnham. From there he became affiliated with introducing brokers and eventually started his own brokerage on 5th Avenue in New York. He now operates an Internet site for financial commentary, www.lemetropolecafe.com.
David Morgan: Seduced by silver at the tender age of 11, David Morgan started investing in the stock market while still a teenager. A precious metals aficionado armed with degrees in finance and economics as well as engineering, he created the Silver-Investor.com website and originated The Morgan Report, a monthly that covers economic news, overall financial health of the global economy, currency problems ahead and reasons for investing in precious metals.
David considers himself a big-picture macroeconomist whose main job as education—educating people about honest money and the benefits of a sound financial system—and his second job as teaching people to be patient and have conviction in their investment holdings. A dynamic, much-in-demand speaker all over the globe, David’s educational mission also makes him a prolific author having penned "Get the Skinny on Silver Investing" available as an e-book or through Amazon.com. As publisher of The Morgan Report, he has appeared on CNBC, Fox Business, and BNN in Canada. He has been interviewed by The Wall Street Journal, Futures Magazine, The Gold Report and numerous other publications.
Additionally, he provides the public a tremendous amount of information by radio and writes often in the public domain. You are encouraged to sign up for his free publication which starts you off with the Ten Rules of Silver Investing where he was published almost a decade ago after being recognized as one of the top authorities in the arena of Silver Investing.
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