Turk believes, that the fair price for gold would at least double from the current level. His longer term price forcast between 2013 and 2015 is 8000 Dollar per ounce, a prognosis that he did already in 2003. If gold went from 35 $ to 800$ it could well go from 350 (in 2003) to 8000$ says Turk.
“In order to protect yourself you have to go to gold”, says Turk. “The fact of the matter is that there is a lot paper out there and very little gold. It only takes a small amount of people to move into gold to have a big impact on the goldprice. Just like it did back in the 70ies: Gold finally broke free at 35 Dollars and went from 35 to 200 in the course of three years. My guess is that in the next couple of years gold ist going to 2000-3000$ before its going to 8000$ in 2015.”
Turk believes that the chances of hyperinflation is 100%. The US is on the road to hyperinflation. They are doing things that other countries that have hyperinflated their currencies have done. They spended to much money, forcing it to borrow more money than the market is willing to lend to them. In that case it is turning to the central bank and they are buying that debt and turn it into currency. And that is what ulimately destroys a currency and leads to hyperinflation. There is a fancy name: they call it Quantative Easing, but the reallity is, that its printing money.-
James Turk: Gold 8000, Hyperinflation sure, Prohibition possible
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