Global BUST Into Money Printing 'Like Never Before' - Then $20k Gold, $1k Silver: David Hunter

David Hunter argues that current semiconductor bullishness may be masking double ordering and the industry’s recurring tendency to assume elevated demand will persist. He sees that dynamic, alongside excessive bullishness and institutional investors chasing the recovery from the October 2022 low, as raising the risk of an abrupt cycle reversal.

Hunter identifies more than $330 trillion in global debt, private credit, private equity, commercial real estate, and broader credit vulnerabilities as potential loss amplifiers once a trigger causes the cycle to roll over. He describes the potential contraction as faster than a depression but larger than a conventional recession, with credit severity comparable to 2008–09.

Hunter sees Japan as a potential trigger or major stress point because its long-running zero-interest-rate policy and money creation have left it vulnerable as inflation and rates rise. He also says European depositors could face bail-ins, while comparable losses for U.S. FDIC-insured deposits up to $250,000 per institution are less likely in the current cycle because authorities could create money to meet FDIC obligations.

Hunter forecasts that a free-falling financial system could prompt unprecedented central-bank liquidity, including potentially $20 trillion or more from the Fed, followed by an inflation cycle that rises from deflation after the bust to low single digits, high single digits, and potentially 20%–25% by the early next decade. He separately projects a possible increase of roughly $50 trillion in global money, which he argues could push demand from power, AI, and U.S. reshoring beyond commodity supply.

Hunter remains bullish in the near term, targeting 10,000 for the S&P, 36,000 for the NASDAQ, 4,000 for the Russell, and 70,000 for the Dow—roughly 25%–30% further upside depending on the index. He believes the indices may be in a parabolic phase, although he allows for one- or two-month consolidations and 1%–4% pullbacks.