On the heels of continued trouble in the European banking system, today MEP Nigel Farage told King World News that people need to brace themselves because the banking crisis is about to accelerate. Farage also spoke about the new president of the European Commission and what investors should expect from the gold market since the banking crisis is only going to get worse from here.
Eric King: “Nigel, gold has quietly had a pretty good year so far. What are your thoughts on gold with all the trouble we are starting to see?
Farage: “Yes. It sort of feels like gold has bottomed out, doesn’t it? It’s kind of found it’s base. And whilst relatively short term investors may be disappointed with that base, if you take a longer, historical view of gold and look at the gold charts, you see that what gold has done is to form a significantly higher base than anything we have ever seen before in history.
So it looks to me like gold has bottomed out. And if I’m even half right about the situation with the banking crisis, about some of the real worries in the economic system, especially within the eurozone, then we will see times again, as we saw going back 3 years ago, when gold has a serious move on the upside.
What happened in 2008 was a terrible jolt and a terrible shock to the global economy, and to the stock markets. But the reality is, despite deleveraging and many things that have happened, this (crisis) has not gone away. This banking crisis will come back and bite us and bite us very hard.” To hear Nigel Farage’s incredible thoughts on what to expect from the banking crisis that is just starting to erupt, the gold market, what surprises to expect around the world, and more, tune in to his audio which has now been released and is available at the link below.
Source King World News
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