Making outlandish claims makes news. I remember in 1999, when the Dow was trading right around 11,000 that the “infamous” book Dow 36000 by James Glassman and Kevin Hassett came out. Among the dark lords of bond trading at PIMCO, my employer at the time, this was basically a laughable prediction, and most people brushed it off as a book by crazy kooks. Well, the Dow is trading, as we speak, comfortably above 36,000, and within shouting distance of 50,000. And now Kevin Hassett is in the running for the Chair of the Fed.
Another such “crazy” prediction that has come to pass is Bitcoin 100,000, and of course there are predictions of 1 million, and even 10 and 100 million for the digital asset.
But today, I want to talk about Gold 25,000…
The full note on this important topic can be downloaded at this link: LTA Thinking -Gold 25000