Stewart Thomson: Central Banks Will Push Gold Higher, Retail Investors Will be Lining up in Bread Lines

depressionSubmitted by Stewart Thomson:

My long-held view is that at the end of this gold bull market, American retail investors will not be lining up in the street to buy, like they did in the 1970s. 

Instead, they will more likely be lining up in real breadlines, like they did in the 1930s.  Central bank buying will push the gold price higher and higher, and their balance sheets will probably look vastly worse than they already do.
Fundamentals make charts.  The fundamentals of the Fed’s balance sheet are likely to make gold and gold stock charts look very good, but only for investors who buy at lower price levels, when it is uncomfortable to buy.
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