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In a recent interview with Commodity Culture, Andy Schectman, CEO of Miles Franklin Precious Metals, shared his insights on the state of the global economy and the precious metals market. Schectman sees several significant developments as signs that a massive revaluation to the upside is on the horizon, and he warns those looking to take profits that we have a long way to go.
One of the most notable developments Schectman highlighted is the massive accumulation of gold by central banks. This trend has been ongoing for several years, with countries such as Russia and China leading the charge. Schectman interprets this as a move away from the U.S. dollar and a sign of a coming revaluation of gold.
Another significant development is the rapid selling of treasuries by countries at a breakneck speed. This is a strong indication that the world is losing faith in the U.S. dollar as the global reserve currency. Schectman sees this as a further sign that a revaluation of gold is on the horizon.
Additionally, Schectman discussed the growing agenda of the BRICS (Brazil, Russia, India, China, and South Africa) nations to de-dollarize. This movement, which aims to reduce the dependence on the U.S. dollar in international trade, is gaining traction and is another indicator of a coming revaluation of gold.
Andy Schectman sees the massive accumulation of gold by central banks, countries selling treasuries at a breakneck speed, and the growing BRICS agenda to de-dollarize as signs that a massive revaluation to the upside is on the horizon. He warns those looking to take profits that we have a long way to go, and encourages them to have a well-diversified portfolio, including physical gold, and some cash on the sidelines. He also emphasizes the importance of patience and a long-term perspective.
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