BMG CEO Nick Barisheff – $10,000 Gold within 5 Years

August 22, 2012 By 7 Comments

USAWatchDog’s Greg Hunter has released an excellent interview with Bullion Management Group’s CEO Nick Barisheff.

Barisheff manages more than $500 million in physical gold, silver and platinum for BMG.  He has a new book coming out titled “$10,000 Gold.”  You think that is an overly bullish prediction?  Not if there is hyperinflation.  Barisheff says, “If we get into hyperinflation, $10,000 will be a conservative estimate.”
How likely is hyperinflation?  According to Mr. Barisheff, “There’s never been a fiat currency that didn’t end in hyperinflation and then complete collapse, not one in all of history.”  He expects gold to hit “$1,900 an ounce by the year end.”

Gold prices will rise with U.S. debt levels, and they are skyrocketing.  Barisheff says, “If you plot a chart, the price of gold compared to the U.S. debt is almost a perfect correlation.” 

Greg Hunter’s full interview with Nick Barisheff below:


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Comments

  1. Avatar of croc987 croc987 says:
    August 22, 2012 at 3:42 PM

    Hmmm.  $10,000 gold = $666 silver??  Sounds good to me!!

  2. Avatar of UglyDog UglyDog says:
    August 22, 2012 at 5:55 PM

    That $10,000 number was selected as the title of his book by his editor.  They like to sell books, you know.

    • Avatar of Flying Wombat Flying Wombat says:
      August 22, 2012 at 7:53 PM

      Just wait.  At some point Harry Dent will put out a new book, “Gold $100,000.”  :-)  
       
      Anyone here have an account with BMG?  Probably not, given the culture of SD.  But if anyone does, what do you think of the service?

  3. Avatar of Conax Conax says:
    August 22, 2012 at 8:51 PM

    5 years out?  Gold could be anywhere from 3000 to 50000, who knows?  Will the ‘dollar’ still be in use? We have no idea of its real value now, much less then. 
    If prognosticators want to be useful, they’ll have to keep the calls inside of a year. An actionable time-frame.

  4. Avatar of MaryB MaryB says:
    August 22, 2012 at 9:50 PM

    With EU banks barely afloat, bond rates going negative I see it happening fast.

  5. Avatar of SILVERKING16 SILVERKING16 says:
    August 23, 2012 at 9:17 AM

    Silver anywhere near $200 would be just fine with me  :)

  6. Avatar of Sumkid Sumkid says:
    August 24, 2012 at 2:22 PM

    I wonder how many people will still be holding US dollars as for their savings when there will be hyperinflation.

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