On the heels of the historic Fed decision not to taper QE, today 42-year market veteran John Hathaway warned King World News this would destabilize financial markets and continue to send gold soaring. Hathaway also discussed the dire situation the Fed and Western central planners face, as well as how this will impact the gold market in the long-run. Hathaway, of Tocqueville Asset Management L.P., is one of the most respected institutional minds in the world today regarding gold, and his fund was awarded a coveted 5-star rating.
Eric King: “John, your thoughts in the aftermath of this event (the Fed decision) which has shocked everybody.”
Hathaway: “It shows you that they (the Fed) don’t know what they are doing. This also shows how off-base mainstream media is on their commentary. I was watching financial television today and they gave this virtually no chance of taking place…
In this chaotic environment, any thinking person needs exposure to gold and gold mining stocks as a way to protect against monetary debasement. If anyone thinks the Fed and other policy makers have the recipe to getting this economy back on track so that we can get interest levels to a point where people don’t need to own gold, they are smoking something funny.
Source King World News