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Friday, June 26, 2009

Byron King is bullish on gold and silver

Long term, gold and silver prices are going higher. Really, where else can they go? Lower? With the current monetary madness that’s infecting the world’s central bankers?

“Precious metals prices won’t fall very far unless governments worldwide stop spending funds they don’t have. (OK, China is spending money it DOES have. Everybody else? No way.) Will governments stop spending? Doubtful. So with excess spending, we’ll see the accompanying monetary expansion from the central banks. That’ll give us more inflation.

“And the only effective defense against inflation is gold and silver.”
--Byron King, as quoted by Bill Bonner in "What’s the Purpose of a Correction?" (6/25/2009)

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