by ‘Ranting’ Andy Hoffman
This week, the inevitable HYPERINFLATION came closer to reality, as the ECB announced what appears to be an open-ended sovereign debt monetization scheme – lamely “euphemized” the MOT, or “Monetary Outright Transaction” program. Likely, the Federal Reserve will announce its own, euphemized ‘QE3’ program at its September 13th meeting; once and for all, SHOUTING TO THE WORLD that “QE to Infinity” is GURANTEED.
Once the Fed puts this “icing on the cake,” I expect the WORLD’S MOST IMPORTANT MARKETS – Euro Gold and Rupee Gold – to race through their ALL-TIME HIGHS, followed shortly thereafter by “DOLLAR-PRICED GOLD” – perhaps by year-end. As for silver, its ALL-TIME HIGH is closer to $800/oz – in inflation-adjusted dollars, six centuries ago. My current “price target” for silver is $1,000-$4,000/oz – in today’s dollars – so obviously I expect silver to surpass its ALL-TIME HIGH as well; albeit, not simultaneously with gold reaching its own record milestone.