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Steen Jakobsen, Chief Economist Saxo Bank, Followed Our Shorts on Gold and Bullishness on USD

Steen Jakobsen, chief economist of Saxo Bank followed our bullishness on US dollar and our shorts on golds and silver of the beginning of October when gold was trading around 1780. At the time, Steen was writing his column, we have already realized some gains on silver and gold shorts.

Steen seems to be content with Obama’s first presidency.

(click to expand)

Obama's Work

Obama's Work - Click to enlarge

Interestingly he thinks that shale gas is the game changer for the United States. It shall make the US the leader for global growth in the next years.

Jakobsen recommends shorting gold

Jakobsen recommends shorting gold - Click to enlarge

The big question is for how long his investment recommendation is valid. In the 1990s the US were leading in technology, especially with the IT revolution. We are quite unsure that shale gas can really have the same effect.

Here an interesting chart from the congress why the United States despite the rising population and the shale gas effect will have problems to remain the leader in global growth.


Here another one about foodstamps:


See more about Steen’s dollar bullishness on Saxo Bank’s trading floor.

George Dorgan
George Dorgan (penname) predicted the end of the EUR/CHF peg at the CFA Society and at many occasions on and on this blog. Several Swiss and international financial advisors support the site. These firms aim to deliver independent advice from the often misleading mainstream of banks and asset managers. George is FinTech entrepreneur, financial author and alternative economist. He speak seven languages fluently.
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