James Turk has a reputation for making outlandish predictions. He was practically alone in his calls for gold to hit record highs during the traditionally slow summer months last year, but the yellow metal did just that.

Of course, Turk’s not entirely an impartial observer. He’s the founder of GoldMoney, a company that gives consumers a way to buy goods and services in gold rather than cash (online at GoldMoney.com).

He has a vested interest in driving consumers toward precious metals. But, it’s always admirable when someone lays out public predictions – particularly when they name specific price points and time frames. Turk did just that two weeks ago when he said he expects silver to double over the course of two to three months to $70 an ounce.

That monstrous climb won’t start until silver can break out above $35 an ounce, Turk believes. And the metal has gotten very close to that $35 mark recently. It closed above $34.50 for the first time since October 2011 last Wednesday.

Could the pendulum be swinging from gold to silver? Citigroup analysts seems to think so. A few days ago I detailed their predictions that the gold-silver ratio is about to undergo a shift in my post Silver ready to outperform gold.

“There is a bubble today, but it is not gold,” Turk wrote last week on GoldMoney. “It is the debt instruments of the US government and indeed, other governments that have also made far too many financial promises. Many of these promises will be broken and many debts repudiated, but most people do not understand or refuse to accept this reality. Ignoring prudent financial analysis and even the lessons of history, they still believe government debt is a safe haven.”

Once investors wake up to the realities of our country’s debt situation, perhaps they will pile into metals. Whether or not they push silver up 100 percent in two months is yet to be seen, but we have to admit the market’s done well of late. It climbed 15 percent in January. Let’s keep an eye on that $35 an ounce mark and hold Turk to his word.

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