Financial System Held Together with Bailing Wire & Chewing Gum – Craig Hemke with Greg Hunter

Craig Hemke – Negative Interest Rates Are Here to Stay

by Greg Hunter
USA Watchdog

Financial and precious metals expert Craig Hemke contends profits in the stock market, in the past few years, came with extreme hidden risk. Hemke explains, “I know why I own precious metal and am continuing to buy it, and that is what I am telling people to do. I mean the price has fallen for totally uneconomic reasons, manipulation being one . . . but anyway, I have used that weakness the last three or four years to keep buying. So, now with this recovery, all of my metal on a cost basis is less than what the current price is. That’s worked out quite well. I am not going to argue with anybody that says you should have sold all your gold in 2011, with the benefit of hindsight, and you should have bought the S&P. You would have made 100%, and hey, knock yourself out. The reason I didn’t attempt to do that is knowing full well anytime between 2011 and today I could have woken up and the whole system could have blown up. That’s how fragile it is. It’s all held together with bailing wire and chewing gum.”

On the prices of gold and silver, Hemke says, “I do think we have turned the corner. I think we came down in both metals and found what seems to be a physical floor at about $14 (per ounce) in silver and about $1,100 (per ounce) in gold. In price, we’ve had a great year, and the miners have confirmed that with a huge move in the last six months. The miners are up 160% or something like that. It’s been a tremendous move. I really think the resumption of the former bull market has begun. What is driving prices?

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