James Turk - Forget $8,000, Gold Headed Much Higher

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/3/8_James_Turk_-_Forget_%248%2C000%2C_Gold_Headed_Much_Higher.html

People don’t understand how much wealth destruction has yet to occur as this financial bust that we are in works to its inevitable conclusion.  In effect, the Dow has to lose 90% vs gold.  This wealth destruction is going to devastate a great many investors, in fact most of them will never recover from this event.

    

As I said earlier Eric, my thinking has changed as we have been going through this cycle.  This time around is not going to be like the gold bull market of the 1970’s.  The dollar is going to lose its status as the world’s reserve currency.  This is fundamentally different than what occurred in the 1970’s.

I’m often asked by people when do I think they should sell their gold?  I tell them this time around it’s going to be easy because you are not going to sell your gold, you’re going to spend it.  In other words, gold will once again become currency.”