Hi Gf, <<current commercial's heavy short again, is it going to be "this time it is REALLY different" for the gold bulls?>>
The bad news is, truth be told, I am flying blind, because I have never gone through an economic/monetary/fiscal time such as the one now.
The worse news is THEY, as in commercials, fund managers, and the aggregate officialdom of the world, are also flying blind, because they have also never gone through an economic/monetary/fiscal time such as the one now.
My only compass is that:
- monetary expansion beyond productive needs leads to bubbles;
- bubbles can manifest themselves in consumer prices, equities of one flavor or all flavors, bonds, real estate, commodities, collectibles, or tulips
- those who get ahead of the money can get relatively better off,
- those who get left behind the money can get the shaft, and
- those who refuse to move will definitely lose.
To some extent, gold and commodities had always done OK, real estate had usually done alright, bonds invariably poorly, and equities? they just disappear after awhile.
Chugs, Jay |
