Following the 2008 Credit Crash, former Federal Reserve Chairman Ben Bernanke stated that "I wish I'd been omniscient and seen the crisis
coming." Of course, this is also the academic who claimed the central bank didn't see the United State in a recession when we were already a year into one.
And despite the fact that Bernanke had access to historic data going back to the beginning of the nation's history, and hundreds of Ivy League economists working for him at the Fed, it was not the man whom the U.S. relied primarily upon for determining monetary policy that accurately called out the crash in 2008, but a Wall Street analyst who would become known as 'The Wall Street Whiz Kid' who did so a year in advance. And his track record speaks for itself since he also correctly predicted the 1987 stock market crash, and the ending the dot com bubble in 2000.
So when Peter Grandich speaks on a coming market trend, the world definitely listens. And on Aug. 18, the Wall Street Whiz Kid wrote on his blog that we are just starting in the 'Mother of all gold bull markets'.
There are many reasons to believe that “the mother of all bull markets has only just begun” for gold.
So believes Peter Grandich, the market analyst dubbed the “Wall Street Whiz Kid” whose track record speaks for itself. He called the Wall Street Crash in 1987 and subsequent sharp stock market recovery, the end of the bull market in stocks in 2000 and the global financial crisis in 2008.
I’m not going to write some long dissertation but rather just highlight some of the reasons I personally believe gold is in the earliest stages of what can turn out to be its biggest bull market ever.
The bullish fundamentals for gold ownership grow almost daily. Again, I could write pages of why, but I will just point out a few key ones:
1 – The severe gold correction literally wiped away every ounce of bullishness. It had come to last one out of the bullish camp, please turn off the lights. While bullishness is off the canvas now, we still see little or no interest in gold overall while its main rival, financial assets, are now in a full bullish blow-off mode. Being a supporter of gold is like being the “Maytag Repairman” when compared to what most investors and professional are loaded to the gills with (financial assets).
2 – We’re now just about 180 degrees where we were in 1980. Back then, financial assets were called “dead” and investment “war rooms” preaching gold ownership were widespread. Gold is the ultimate contrarian play and on a valuation basis compared to stocks and bonds, relatively cheap.
3 – Whether its debt bombs all around the world, paper currencies being debased faster than “Grant took Richmond”, or Central Banks getting ready to launch funny money from helicopters in a last futile attempt to correct their quantitative easing failures, take your pick on the inevitable ignitor that will lead to a blow up of financial systems. It’s not if, but when! – Goldcore