Zeberg & Faber: The Rally Before the Reckoning

Henrik Zeberg and Marc Faber discuss the final melt-up phase in US equities, predicting a Nasdaq rally of at least 15% before a catastrophic crash. Zeberg sees a technical fractal akin to 1997-2000 and warns gold and silver will also fall during the coming credit crunch. Faber compares the AI boom to historic technology busts that ended in colossal losses for most investors, while maintaining that gold remains a long-term store of value. - Nasdaq could rally to 33,000-34,000 in a final melt-up driven by technicals and capital rotation. - The rally is 'pure air' and will end in a severe crash, potentially worse than 2008. - Gold and silver are expected to decline during the credit crunch as cash needs dominate. - The AI boom is real but history suggests most participants will suffer huge losses. - Gold remains a superior long-term asset against stocks in a world of deficits and bubbles. - Private credit markets and black swan risks could trigger a domino-effect financial disaster. - Home prices and equities could both fall, but nominal declines may be muted against gold.