Rob McEwen - Once $3,000 Falls Gold will Launch Like a Rocket

Buy now. Get some popcorn. Wait and watch. PM's will be epic in 1-2 years.

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Rob McEwen - Once $3,000 Falls Gold will Launch Like a Rocket

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/5/27_Rob_McEwen_-_Once_$3,000_Falls_Gold_will_Launch_Like_a_Rocket.html



With the gold and silver markets still experiencing turbulence and the US dollar attempting to stabilize, today King World News interviewed one of the great company builders, Rob McEwen former CEO of Goldcorp and current Chairman & CEO of US Gold. When asked how he arrived at his gold target McEwen responded, “Looking at economic history and the cycles before, the $5,000 number is a fairly easy number to get to if you look at the last cycle where gold went from about $40 an ounce in 1970 to $800 in 1980. So, you had a twenty-fold move, and the low point for us recently was $250 back in 2001, and if you applied the same twenty-fold you arrive at $5,000.”

Rob McEwen continues:

“You have more people in the market today than you had in 1980. They are better connected by the internet and other communication means, and crowd psychology is going to play a bigger role. We’re seeing the paper currencies suffering a loss of confidence and people are looking for a place to go, and when we move from that 1% invested in gold, to 3 or 4 or 5%, the slope for the price of gold is going to be exponential and racing.”

The QE3 is going to happen and there will be a QE4 and probably a QE5. We’re looking at unprecedented amounts of monetary stimulation occurring not only on this side of the Atlantic, but over in Europe and it has been to stave off a collapse. There has been tremendous loss of value, but we haven’t seen a big jump in employment and we haven’t seen a large jump in capital investments and that’s what we need to see.

We need to more jobs created and this money isn’t doing that. So, that’s where you go back to the government saying, ‘well, we can’t stop right now because the job is not done.’ But for every one of your listeners, while this job is being done they have to go out and protect their assets against what’s happening.”

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