On the 2nd of August:
He is "bearish about everything". He remains an inflationist, so still prefers precious metals and equities. "I would prepare for the worst". "You don't won't to be in cash and US treasury bonds."
In the US, they should fire half of the government, including the President.
Correction is due in the gold market.
On the 5th of August:
Markes are extremely oversold, and a rebound will happen today or tomorrow. But the technical damage is too much.
He's aiming at 1050 - 1100 on the S&P and would be using rebounds as a selling opportunity.
5th of August on Bloomberg:
We're down 10%. The whole world is mad. Investors don't understand that markets are volatile [...].
I think we have seen the highs for the year.[...] We can have a snap back rally. [...] We'll go down to 1050-1100 but I can already smell QE3. [...] We'll see if Mr Bernanke is a true money printer or just an amateur