QUESTION: Marty,
I’m seeing online sources-videos, comments and AI say that “Socrates model forecasts a collapse in paper derivative markets, explicitly warning investors that paper spot prices on exchanges will completely disconnect from physical metal reality as physical shortages mount and sovereign debt crises escalate.”
I subscribe to Socrates and watch all your interviews and have never heard you discuss this. Is this accurate?
I’d appreciate if you could set the record straight with a quick reply.
Thank you in advance.
Alex
ANSWER: This AI is becoming a problem where people can make posts mimicking my voice and I have even seen videos while other try to prevent people from reading our site. Some people with self-interests try to make false forecasts that we have NOT made to influence people to buy often in the metals.
There will not be a collapse in derivative markets and this rush to spot metals. There is not enough metal in the world to end currency and only after 2032 are we looking at a redenomination of assets. After the hyperinflation and the fall of the Weimar Republic in Germany, they came out with a new currency in 1925 and it was backed by real estate. This is what I am talking about. Tangible assets from metals, real estate, shares in companies, all make that transition from one currency to the next.
There are people who hat my guts because I have not agreed with them. They have been adamant that derivatives hold gold prices down. They have taken the same position concerning gold leasing, which they also insist suppresses gold.
I am tired of all the BS with bankers who lose money blaming me that I have too much influence to some goldbugs who say the same thing as if I was eliminate gold would soar. Markets are far bigger than anyone from central banks to an individual.
Everyone acts in their own self interest. Compare gold in USD and Euro. You will see that in Euro, gold made new lows into August. In USD, the los war July intraday and a close it was June. I have been the only international adviser with offices around the world from China to Dubai. Giving advice to buy with no regard for the currency is not being a responsible analyst. This is why Socrates allows you to take any market and replot it in whatever currency you like. Telling an American in July to buy gold for a bounce would lead to a loss for a European.
That forecast is clearly ABSURD and it is not by me nore Socrates. I recommend that you stay with our site to verify any such claim.