by Chris Waltzek
Chris welcomes back Bob Hoye, senior investment strategist at Institutional Advisors. His new peak momentum indicator tends to identify market zeniths and subsequent new bear markets – it currently suggests gold and silver correction could soon pass, clearing the path for a new primary bull market. His work on the silver market ranging from the 1500’s to today indicates that the current divergence in silver relative to gold could portend a financial crisis is imminent. Bob Hoye is convinced that restoring confidence in the global currency system due to profligate policymaker decisions will require a global gold standard, the defacto reserve currency. For instance, Canada officially has sold 100% of its gold reserve stockpile, near the bottom of a multi-year bear market. In addition, homes are overpriced in many towns, especially McMansions. Plus, he’s concerned by Junk bonds and also sees the early stages of stock bear market, but gold stocks are positioned to benefit from all the volatility.