Stansberry Research
Oct 17, 2022
“It’s hard for the Fed to be much more aggressive than they are with the world tilting toward recession,” says Mike McGlone, commodities strategist at Bloomberg Intelligence. He says this a 1929-like scenario for international markets, and tells our Daniela Cambone that a bear market is now mainstream. Monetary supply is plunging for the U.S., which he says is a key indicator to pay attention to. Gold under the lens of other currencies besides the U.S. dollar is, “doing what it should be doing and protecting wealth.” McGlone concludes that other assets like bitcoin are at their most significant discount in a while, which he believes will cause the digital token to climb to $100,000 per coin.
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