“This Is A Scary Time” – CEO Explains The Single Biggest Reason Why People Are Buying Gold And Silver
We can talk about technical charts, supply and demand fundamentals, and price manipulation, all of which point to significant increases in the value of gold and silver for the foreseeable future.
But according to Golden Arrow Resources CEO Joseph Grosso, who is credited with the discovery of the largest silver deposit in history, the single biggest reason that retail investors, institutional players and governments around the world are gobbling up physical precious metals, resource stocks and ETF’s at unprecedented levels is that they are scared to death of the state of the global economy and where it will go next.
Like an expecting father waiting for five years to see a baby being born, we are at the inception of a mining economy… There is a pause, a slight pause towards the U.S. dollar and that pause is allowing the oldest currency in the world, gold and silver [to rise] and that is now in favor.
…Because there is fear. When there is fear, that’s when gold does best.
… Right now, this is a scary time… People want to hop out [of traditional assets] and find safety in precious metals.
In the following interview with SGT Report the level-headed Grosso explains that there is still hope for America and the U.S. economy, but there will be a lot of pain before it gets better, the consequence of which is an environment that has historically boded well for precious metals as safe haven assets.
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