As gold prices pass through $1300, will they get through resistance at $1350? David Morgan of TheMorganReport.com tells Double Down that 2019 is likely to be a good year for the precious metal. He does not believe bitcoin and gold are competing for the same investment funds but at the margin, so any allegations otherwise are likely hokum.
In regards to central banks buying up the most gold since 1967, David believes that central banks are signaling clearly that what is ahead requires gold as either a hedge or as part of the reset. For ordinary citizens and investors, it is time to watch what central banks are doing not saying in relation to gold. There was a time when the Bank of International Settlements reported ONLY the gold holdings of their member banks; will that policy return?
And, regarding the Newmont-Goldcorp merger, David is not a fan as the miners are acting like banks and, in the past, such mergers have ended in disaster. And when asked if silver is money, David Morgan says that it is, indeed, money and that the best stability comes from a bi-metal standard rather than a pure gold standard as gold is often held by the elite and silver by the many. Tune in to hear more.
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