“We essentially are printing money.”
“Quantitative Easing is debasing our currency.”
“Congress is spending like drunken sailors.”
Among the cavalcade of gold bulls to recently grace Tech Ticker’s stage, David Tice is something of a centrist.
Gold will hit at least $3000 per ounce before the current rally ends says Tice, Federated’s chief portfolio strategist for bear markets. The forecast falls roughly in between Peter Schiff’s $5000 per ounce call and Jimmy Rogers’ forecast of $2000.
With gold hitting yet another new high of $1064 Tuesday and bullish sentiment for the metal soaring, Tice is wary about the potential for a short-term reversal in the dollar down-gold up trend.
“We certainly could have a pullback,” he says. “However, we believe this rally in gold is going to on for a long time.”
As with Schiff, Rogers and pretty much everyone else these days, Tice is concerned about the “debasing” of the U.S. dollar and our reliance on foreigners to fund the deficit.