kingworldnews.com / November 1, 2012
Today 40-year veteran Don Coxe told King World News, “… when that bond bear market comes under way, it will be the next phase of the commodity supercycle.” Coxe, who is Global Strategy Advisor to BMO ($538 billion in assets), also added, “What’s fascinating to me is we’ve had this tremendous bull market in gold, against a bond bull market.”
Here is what Coxe had to say: “As of August 12th, 1981, the constant dollar Dow Jones Average, which was deflated by inflation, was back to where it was after ‘Black Monday’ in 1929. Think about that. What that meant was in real terms from 1929, in the next 52 years you had a negative return on stocks.”
Don Coxe continues:
“That was really bad, and that’s the wealth destruction you are talking about (which occurred in the 1970s). So if you had your money in stocks, as opposed to having your money in gold and oil stocks, then you were a pauper.
If you had your money in gold and oil stocks and then sold them….