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David Morgan: Expect Stagflation and Silver Outperformance in 2019
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Thread: David Morgan: Expect Stagflation and Silver Outperformance in 2019

  1. #1
    Join Date
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    Default David Morgan: Expect Stagflation and Silver Outperformance in 2019





    Listen to the Podcast Audio: Click Here


    Mike Gleason: It is my privilege now to welcome in our good friend, David Morgan, of The Morgan Report. David, it's always a real pleasure to have you on, Happy New Year to you and welcome back. How are you?

    David Morgan: Mike, I am well, and thank you for inviting me. It's great to start the New Year with you.

    Mike Gleason: Well, David, I'm excited to do a bit of a market preview for 2019 with you today and we'll get your thoughts on a number of different markets. Now, we managed to finish 2018 relatively strong in gold and silver. Volatility in stocks and a more dovish posture from the Fed helped create a bid for metals in December. We're now two plus weeks into the New Year, stocks have rallied off the bottom put in on Christmas Eve. We know Treasury Secretary, Steven Mnuchin, had a conference call with other members of the Plunge Protection Team. He spoke personally with the CEOs at the nation's largest banks.

    It looks to us like he got the response he was looking for. Somebody is buying stocks again and we aren't too sure natural forces are behind it. At least metals prices are holding up okay. What is your take? Does the rally we've seen in stocks have legs and what are you expecting for gold and silver and how they might respond here?

    David Morgan: Great question. It's a very typical question and I certainly am going to answer it. I just want to preface it with this, Mike, that we all get a lot of criticism and I'm subject to it, as well. Rightfully so in a lot of cases. What most people don't understand, that aren't paid members, is that anything in life you've got to correct and continue. So, if I make a call today and it sounds great and people make a decision based on that, doesn't mean that three days from now I'm not going to correct and continue. In other words, something I say long-term may not hold but, believe me, as long as I've been in these markets, when I'm wrong I promptly admit it and make an adjustment.

    Having said that, I really don't like the trading action in the last week or so. Gold just can't seem to get through that $1,300 ceiling. Silver is trading as, for the last month, roughly outperforms gold two to one. Roughly, gold's been up about five percent in the timeframe that you mentioned at the beginning and silver was up almost 10 percent in that same time frame. At this point in time, as we're doing the interview, they're both languishing here. They don't seem to have much momentum. So, I actually expect somewhat of a pullback. I was hoping for a strong January all the way through, could be wrong. If I am, I'll adjust. I think we're going to have to see a little bit of a downside.

    It did accelerate pretty strongly, as you mentioned. Maybe they got a bit ahead of themselves. Having said that, I want to be emphatic about the next statement. Longer term this year, gold and silver will do better and they're likely to outperform the stock market this year.

    http://silverseek.com/commentary/dav...nce-2019-17555
    I'm a proud member of Eggshellman's Liar, Shill, and bully club and a new member of the Super Jew Defense League!!!

  2. #2
    Join Date
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    Thumbs up As good as silver.

    "I foresee little future in 'the price of silver', I see a huge future for 'the price in silver'." - heartbone
    "The truth is called hate by those who hate the truth." - K

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