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Edelson believes gold won't bottom "until it hits major long-term support at $1,028."
He thinks QE lost impact. Too much bad debt remains. Money printing madness can't offset it. Austerity's hitting hard. Confiscatory bail-in policy is most important, he believes.
It "turned the world upside down." Money no longer is safe in Europe, America, and Canada. Perhaps it's not anywhere.
"Panicked capital is going into hiding, but in cash and equities in the US and Japan, not in gold."
When investors realize that America is as troubled as Europe, gold fundamentals should "flip back" to bullish. That time isn't now. Patience brings rewards.
The late Bob Chapman strongly recommended gold and silver. He did so for safety and capital appreciation. He explained fiat currency debasement. He was a Progressive Radio News Hour regular.
He predicted an eventual dollar decline. He explained how Western central bankers and financial giants manipulate precious metals. They do so to suppress their value.
Money printing madness means eventual higher prices. Hold on, buy more and be rewarded, he recommended. He said it on air many times. It remains good advice.
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