Gold to $3,000? Expert Warns of 'Worse' Devastation Than 2008 Financial Crisis! | Mike McGlone

Mike McGlone, Senior Commodity Strategist at Bloomberg Intelligence, come on to discuss market turbulence that is affecting global equities and commodities, with a particular focus on gold. McGlone draws comparisons between today’s market conditions and the global financial crisis, suggesting this period could potentially be worse!

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DISCLAIMERS/TERMS/RULES:
► I am not a professional financial adviser, nor do I offer financial advice. This video is for entertainment only. Please consult your investment and tax experts for financial advice.

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[WallStreetSilverOfficial]

If you like the video please hit the like button!

[robb]

Ouch!
Can't agree with Mike on his opinion that Silver is more correlated to Copper because it is mostly industrial, and therefore price appreciation appears unlikely in a Chinese slowdown.
If/when there is a flight to Gold, the ability to secure any will be missed by the majority. Silver has always been considered related to Gold - even the Olympics right now reinforce this notion with the medals (that the athletes are biting but probably have no idea why) - so people will pile in on Silver, even if it's just the 'sleeper' Silver lovers that do so initially. A physical squeeze will occur almost instantly and will push the price up exponentially, if even only briefly. But with a lack of investment in mining opportunities this could last for quite awhile. At the same time a commodities slowdown because of less China demand in other metals like Zinc, copper, lead, nickel could see less mining activity and effect Silver to the upside even further given that Silver production is by and large a by-product of mining for these other minerals/metals (ie 70% of Silver production per annum is as a by product to the main mining concern of the above mentioned metals)

[isabellatk]

NVDA79T is still extremely undervalued

[jeravincer]

What time stamp does he talk gold please?

[islandaerial]

August 2nd? 🤔
It's almost comical to have a Bloomberg analyst claiming to be contrarian...

[caseyrindal]

Do they ever get tired of saying we're heading toward a recession?

[nickl]

"We got Cold War 2.0 with Xi and Putin driving that." Sorry, you should brush up on your geopolitical knowledge.

[slightlystrombeck]

🇺🇸🇺🇸 TRUMP 2024🇺🇸🇺🇸
! FIGHT! FIGHT! FIGHT!

[RobertOliver-xb]

I'm favoured $130k every 4 weeks! I now have a good house and can afford anything and also support my family

[Erastustran-zy]

Thanks for the insights! Bought NVDA79T, predicting big returns! 📈