Albert Edwards Warns Investors To Brace For A Retest Of 2009 Lows, Gold Trades In $124 Range As Physical Gold Shortage Is Now Here, Plus The Big Surprise

Albert Edwards Warns Investors To Brace For A Retest Of 2009 Lows, Gold Trades In $124 Range As Physical Gold Shortage Is Now Here, Plus The Big Surprise from King World News

Albert Edwards warned investors to brace for a retest of the 2009 lows as the crash in the stock market continued with the Dow collapsing another 3,000 points (12%)!  More wild trading took place in the gold market, which saw a jaw-dropping $124 range today as physical gold shortages are now appearing.

WTF?
March 16 (King World News) – 
Sven Henrich:  “How fragile must our financial system be that it requires zero rates, $700B in QE, $500B in repos not even 4 weeks from all time highs and still it is not enough?”

The Big Surprise
Stephanie Pomboy:  “The surprise isn’t that the Fed has lost all credibility and that the markets are waking up to their sheer ineptitude and impotence, the surprise is that it took this long! p.s., $6 trillion more (in market cap destruction) to go (on the downside) to neatly revert to the mean. (as if that ever happens).”

Almost 7 Years Of Stock Gains Wiped Out
Peter Schiff:  “The Russell 2,000 is down about 40% from its 2018 high. Almost 7 years of gains have been wiped out. Given the severity of the recession we just entered, the 2009 low is in play, which means another 60% crash from here. Adjusted for inflation the real loss will be much greater.”…

Retest Of 2009 Lows
Albert Edwards, Former Global Strategist At Societe Generale:  “It might be an appropriate time to re-send my 2018 Barrons Ice article explaining why I believe the S&P would re-test 666. Actually I said “That would put the S&P lower than the 666 low of the previous crash.”

The Physical Gold Shortage Is Here
Simon Mikhailovich:  “The physical shortage is here… I just got this from a top Swiss refinery: “We are working normally for the time being. …it may possible that we do not have any availability in a short period and this will depend on the quantities asked.”

Continue Reading / King World News >>>

Sharing is caring!

King World News

Interviews with market experts from around the world with a focus on precious metals.