Michelle Makori speaks with Florian Grummes, Managing Director of Midas Touch Consulting, who says he is now more than 50% in cash as stocks look “overbought, overheated, and parabolic.”
Grummes, who correctly called gold’s breakout from its multi-year cup-and-handle pattern, says gold remains in a secular bull market but could take more time before reaching new highs.
He also warns that if the stock market faces a 2000-style crash, the pullback could be “50% to 80%” and “very painful.”
Grummes explains why he sold all of his Bitcoin and crypto holdings, why he believes crypto winter may still end in a “bloodbath,” and when he expects triple-digit silver to return.
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