GOLD is the money of the KINGS, SILVER is the money of the GENTLEMEN, BARTER is the money of the PEASANTS, but DEBT is the money of the SLAVES!!!

Tuesday, October 27, 2015

Central Banks Have No Bullets Left; Fed Should Raise Rates Soon – Diego Parrilla

After being the only proponent for gold in a panel discussion at this year’s London Bullion Market Association (LBMA) conference, author and former fund manager Diego Parrilla sat with Kitco News to discuss some of the reasons why he remains bullish on the yellow metal. ‘The general consensus points to lower gold,’ he told Daniela Cambone at the sidelines of the conference held this year in Vienna. However, he remains optimistic mainly because he sees a ‘clear parallelism between the Lehman crisis and what we are heading into.’ Parrilla explained that the big problem is that monetary policy is ‘contagious’ and central bankers no longer have any bullets left. ‘[They] have no room to ease aggressively; they’re already stretched.’ He suggested looking at strategies that would allow investors to accumulate gold when prices fall because according to the author of ‘The Energy World Is Flat,’ gold has 'few hundred dollars of downside from here but a few thousands of dollars of upside from here.’ He said that his core view remains that he sees upside for gold and would ‘short oil.’ Kitco News, October 27, 2015.

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