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This is 'horrible for the world economy' but also good for gold price - Todd Horwitz

Kitco News

The re-appointment of Jerome Powell as Fed Chair means a steer away from more radical, progressive monetary policies, which would simultaneously cause gold to rally and spell disaster for the world economy, said Todd "Bubba" Horwitz of BubbaTrading.com.

Progressive policies like Modern Monetary Theory would be "much better for gold but they'd be horrible for the world economy. They'd be horrible for the United States. They would turn the United States into a socialist country or a communist country and be under the rule of somebody like China," Horwitz told David Lin, anchor for Kitco News.

For more information on gold and silver's price outlook, watch the video above.

Follow David Lin on Twitter: @davidlin_TV (https://twitter.com/davidlin_TV)

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Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.