SocGen: Gold $10,000 - Stocks Crash

SocGen's Albert Edwards: "My working experience of the last 30 years has convinced me that policymakers' efforts to manage the economic cycle have actually made things far more volatile… The current round of quantitative easing will be no different"


Gold prices will top $10,000 per ounce, the stock market will tank and Treasurys will yield less than 1 percent, Societe Generale's Albert Edwards forecast in a trademark bearish report on Thursday.

(Read More: Sliding Yen Could Herald New Asian Currency Crisis: Albert Edwards)

"My working experience of the last 30 years has convinced me that policymakers' efforts to manage the economic cycle have actually made things far more volatile… The current round of quantitative easing will be no different," said Edwards in a weekly strategy report.

"We have written previously, quoting Marc Faber, that 'The Fed Will Destroy the World' through their money printing. Rapid inflation surely beckons. But that will not occur without firstly a Japanese-style loss of confidence in policymakers as we dive back into recession and produce dislocative market moves."

(Read More: Marc Faber: If I Were Bernanke, I Would Resign)

In the note, Edwards said central banks' stimulus measures will drive the world towards global recession, soaring inflation and a "Japanese-style" loss of confidence in policymakers.

http://www.cnbc.com/id/100672709