2018 Outlook: Gold, Bitcoin

"If people earn more money because central banks create more money they use their additional incomes to bid up prices for everything so I think a lot of prices are gonna be rising not just the price of gold." 

"I do believe as more people perceive the threat of inflation and see the dangers of what the central banks have been doing I think the price of gold will rise faster than a lot of other prices as people embrace it as a hedge against inflation and as a store of value."

Bitcoin Bulls Are Going To Get Slaughtered

Bitcoin keeps going up, we are at in 17,000 today and look how big can the bubble get? I don't know. I mean I'm not that smart. I'm smart enough to know what is a bubble but I'm not smart enough to know where the peak is but there's an old saying, Bulls make money, Bears make money and pigs get slaughtered. And there are a lot of Bitcoin pigs I believe who are gonna get slaughtered so if you happen to own some Bitcoin and you bought them and you have some profits, sell.

Gold Will Rally In The New Year

In the last few years you've seen gold sell off at the end of the year and then rally pretty strong in the new year because what happens is towards the end of the year people get very optimistic about the future Oh things are gonna get better growth is gonna pick up the economy is gonna take off and so they get optimistic they buy stocks they buy the dollar a little bit they sell their gold and then the new year comes around and the hoped for rebound doesn't materialize and then they buy the gold back and the dollar sells off and and that's I think where we are.

Related trading instruments: SPDR Gold Trust ETF (GLD), Market Vectors Gold Miners ETF (GDX), Market Vectors Junior Gold Miners ETF (GDXJ)

The Tax Plan

I believe if this plan passes we are gonna have a tax code that is more gamable where more people are doing more things to rig the system or exploit the loopholes. Not that there's anything wrong with that I mean that's what every American is going to do righ, no American has a legal obligation to pay more taxes than what is owed and to the extent that you can rearrange your affairs such that you pay the lowest possible tax that's what everybody is going to do and that is why the projections that the Republicans are out there with that this is going to add just 1.5 trillion to the deficit over the next ten years are a bunch of nonsense. I'm sure that it will add more than twice as much more than three trillion to the deficit over the next 10 years.

Federal Reserve: 2 Years To Move The Rate From 0.00% to 1.375%

It's taken the Federal Reserve two years to move the rate from zero to 1.375%. This is an extraordinary amount of excess monetary stimulus to say that the Federal Reserve has been successful in normalizing rates is complete nonsense.

CNBC Becomes Crypto News BitCoin Network

This Bitcoin bubble is the most irrational of any of the bubbles I've seen. I think there is less of a legitimate case for Bitcoin than there was for any of the dot-com stocks that went to zero or buying subprime mortgages.