In a startling prediction, entrepreneur Gary Cardone has sounded the alarm on a potential ‘Black Swan’ event that could significantly impact the upcoming 2024 U.S. elections and the economy in general.
During an interview with Kitco News on December 29, Cardone, known for his insights into economic trends and market dynamics, expressed his concerns, stating that he would be surprised if a substantial event akin to the pandemic did not unfold between now and August.
“I’ll be staggered if something substantial, what most people would refer to as a Black Swan, doesn’t happen. I would make a $50,000 to $100,000 bet that sometime between now and August, there is some event like a COVID-19, 911-type event. I can’t tell you what that’s going to look like, bigger than Ukraine, bigger than Israel, bigger than all the people that are protesting that nobody wants to talk about across major cities all over the world,” warned Cardone.
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The entrepreneur highlighted his belief that the United States is already in a state of civil unrest, comparing it to a civil war without muskets pointed at each other. He pointed to the deep divisions between politicians, emphasizing the lack of agreement on fundamental issues.
“When the red politicians and the blue politicians can’t agree on what pencil to use, we’re pretty much at war. We just don’t have muskets pointed at each other yet,” Cardone asserted.
Gold to ‘grossly outperform’ Bitcoin
In addition to his concerns about political and social unrest, Cardone shared his investment outlook for the near future. He predicted gold and silver would “grossly outperform” Bitcoin (BTC), but only under specific circumstances such as a ‘Black Swan’ event.
Cardone acknowledged that gold and silver had not outperformed Bitcoin in the last decade despite certain incidents that might have favored precious metals.
“I think gold and silver will grossly, grossly outperform Bitcoin, but it is only under that circumstance, in my opinion, that gold and silver will outperform Bitcoin. They have not outperformed Bitcoin in the last 10 years, 13 years or they have not,” he explained.
He also commented on the prospects of the Bitcoin price trajectory concerning the spot exchange-traded fund (ETF). In this case, he stated that, although there are anticipations that the product might be approved in early January, he warned that failure to give the green light could see Bitcoin tumble to $27,000.
Finally, he pointed out that if the ETF is not approved, Bitcoin still has other catalysts in place, with a focus on the upcoming halving as a key factor.
Watch full interview below:
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