“Next five years is not about winning but surviving.” This is the headline of an article I wrote in early August 2019. At that point I was primarily thinking of economic survival. But now the world is facing multiple threats and multiple failures. As I have already stated, the Coronavirus is not the cause of global market crashes but the catalyst.
But even if I have been totally certain that the world will see an economic collapse greater than any crisis for 100s of years, this is the worst catalyst that anyone could have expected. Yes, a global virus was always one of the potential risks but of all triggers, this one was certainly the most unwelcome and horrible.
CORONAVIRUS IS FAR MORE SERIOUS THAN THE WORLD REALISES
Before I talk about markets and gold further on in this article, I will mention some of the horrific effects that are now hitting the world due to Coronavirus. Just to summarise that my market views haven’t changed. Stocks will go down by at least 90% from here and gold will surge to levels that few can imagine.
No one knows the extent of people affected by the CV. China has never given us the real figures. And the rest of the world hasn’t got a clue where they stand. Every country thinks they are in control of the situation until they panic. Outside of Asia, poor Italy got it first and there we have seen an exponential growth of the number of people affected. And still, in Italy like in most other countries, they haven’t got a clue how many people have been infected.
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