Pierre Lassonde: “$17,000 Gold Is the Floor”

Summary

Pierre Lassonde explains why he believes gold's bull market is far from over, setting a $17,000 floor based on Dow-to-gold ratio parallels with the 1970s. He cites energy shocks, sticky inflation, rising deficits, and financial repression as drivers. He argues the Federal Reserve may not be able to control inflation as Volcker did, and gold remains a key signal of monetary stress.

• Lassonde introduces $17,000 gold price target as a floor.
• He draws parallels between current market and 1970s.
• Key drivers: energy shocks, sticky inflation, rising deficits.
• He uses Dow-to-gold ratio framework to derive target.
• He argues no political will to address US budget deficit.
• He believes inflation will persist and Fed cannot stop it.
• He notes gold underperforms in early recession but long-term bullish.
• He sees gold as protection from currency debasement.