Dan Norcini told King World News:
"... But people have to remember that wages are still relatively flat in both Europe and the US. The jobs environment in the West is dreadful. This means that the already stressed consumers in the West are going to be hit with another round of inflation at a time when they can least afford it.
"So we will continue to see the middle class being wiped out on both sides of the Atlantic. Having said that, from an investment perspective, this is the type of stagflationary environment where gold and silver can continue to soar, just as they did in the 70s.”