Robin Griffiths - Silver Could Eclipse $450, Gold $12,000

With gold over $1,500 and silver around the $35 level, today King World News interviewed one of the top strategists in the world, Robin Griffiths of Cazenove. Cazenove is one of the oldest financial firms on the planet and is widely believed to be the appointed stockbroker to Her Majesty The Queen.  When asked if this time around silver will eclipse the 38 fold up-move which took place in the 70’s Griffiths replied, “Yes, I think getting to $50 was a slam dunk certainty, you test the old all-time high.  We now have a consolidation for let’s call it two months and I think then we are going to go on up because the paper monies are still being printed.” 

Griffiths continues:

“I’ve got it (silver) as a ten bagger from current levels.  You don’t want to be wobbled out here because of a few champagne bubbles.  You want to be able to stay with and add to your long-term holdings.  Bulls (bull markets) are very successful at wobbling people out at the wrong time.” 

When asked if his $350 target was a realistic price level for silver Griffiths stated, “That is absolutely not unrealistic.  If you adjust the old all-time high for inflation...that gives you $450 for silver.  Then you add in the fact that they are printing money, you can take it higher than that without any difficulty at all.”

When asked about gold specifically Griffiths remarked, “The run-up to the peak in markets like gold is between now and 2015.  I think it will all be over by 2015, a lot of it depends on how aggressively paper monies get printed from here on in.  I think $3,000 is an absolute minimum target.  I can believe in targets certainly above $5,000 and it’s theoretically possible to go to $12,000, that’s dollars an ounce for gold.  

If Mr. Bernanke stays on his current agenda I think those higher numbers will be what you will see.  We’re looking at the trashing of the dollar.  As Marx pointed out, it’s the most assured way of destroying your economy.

There’s a book called ‘The Road to Serfdom’ by Hayek, pointing out that when a country is in debt, getting deeper into debt as Lord Keynes said, ‘Doesn’t work.’  All it does it make the problem worse and it takes longer to solve.  

We’re moving away from the dollar being the main reserve currency on the planet...We’re going to move into an era where world trade is done in mixes of renmenbi, rupees and baskets, and the baskets of currencies will need to be weighted by something can’t be printed like gold.”

source:http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/5/12_Robin_Griffiths_-_Silver_Could_Eclipse_$450,_Gold_$12,000.html