Harry Dent: Gold Down to $700, US Dollar is the Safe Haven

Financial guru Harry Dent thinks the economy is teetering on the edge and contends, “They are doing everything to prevent it, but everything they do to prevent it from blowing up is making it worse. This is a game they cannot win–mark my words, cannot win, and we are going to see a major crisis . . . especially over the next two years. These falling oil prices trigger these fracking firms. They have 20% of the junk bond high yield debt in the United States, and that’s all it takes to trigger another financial crisis just like the subprime crisis back in 2008. All it takes is a trigger and the whole debt thing comes down.”

On gold, Dent says, “We’ve been predicting gold will go down for many years now, and the next target is $700 per ounce. I think we will see that in the next two years at a minimum.”

China and Russia betting on gold are wrong. They will lose. US Dollar will win. Keep your money in an investment account in your name.

Harry Dent relies a lot on demography and accepts boom and bubble bust cycles as natural.