With the four page Congressional memo slated to come out today, our topic will be “confidence”. Confidence and all that goes with it stands to sustain a huge body blow! But first, we need to discuss a topic I have written about several times in the past that took a very strange turn yesterday…Harry Dent.
For years he has scared (tried) hard money advocates by forecasting a collapse in gold to $700 and possibly even $250. I have written several times breaking his “Dented logic”, most recently here. Yesterday he took a very strange turn and published a story predicting higher prices. To be fair, in this latest article he is calling for $25-$50 higher gold prices and suggests it is your opportunity to “take your ‘money’ and run”. I would ask Mr. Dent, if gold is such a risky asset as he claims, does it really make sense to try and time it for an extra 2-4%?