Stuppler Predicts Gold Likely to Reach $5,000 by 2016
WOODLAND HILLS, Calif., April 9, 2014 /PRNewswire/ — Barry Stuppler, past president of the American Numismatic Association and current chairman of the Federal and California State Gold & Silver Political Action Committee, predicts that the price of gold will reach $5,000 oz. during 2015 or 2016. Stuppler published an article in April 2004, when gold was at $408 oz., predicting that gold would break its 1980 record of $852 oz., which it did in 2008. Gold is currently at $1,304 oz. Even after a 28% decrease in 2013, gold has increased in price an average of 13.2% per year since 2001.
Stuppler’s new prediction is contained in his just released 44-page booklet, Gold: Real Money, Your Ultimate Protection Against Inflation and Deflation. The booklet describes the transformation of the global gold market resulting from increased Chinese demand. A growing number of Chinese citizens, currently 4.5 million, buy a fixed amount of gold every month through a program at the Industrial and Commercial Bank of China. China’s central bank is buying gold by the ton as part of its effort to make its currency, the renminbi, competitive in world trade with the US dollar, the yen, and the euro.
The booklet also contends that actual inflation in the US is higher than government statistics suggest, and that as a result of trillions of dollars of money creation by the Fed, hyperinflation is a real possibility, especially when money currently sitting in corporations and banks starts working its way through the economy. Other forces driving the price of gold higher are the mounting federal deficit, an increase in the money supply, increased purchases by central and commercial banks, and diminishing global production.
The booklet also analyzes the possibility of a return to the gold standard and another gold confiscation, such as it happened in the US in 1933. It recommends owning pre-1934 gold and silver investment quality coins for protection against and profiting from those possibilities.
Gold: Real Money, Your Ultimate Protection Against Inflation and Deflation is available free at www.coinmag.com
SOURCE Barry Stuppler