Bill Bonner is usually positive, and especially today...
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dailyreckoning.com
Snip...
"Open your new eyes, dear reader, and look on in awe: we have what appears to be a major, major bull market in gold developing. At first, people hardly notice. The price of gold is reported as a curiosity. 'Must be central bank buying,' they tell themselves. Or, 'I wonder when those nutty gold bugs will finally give up.' The average person has no idea. He listens to CNBC and is blind to what is actually going on. Gold...the dollar standard...deflation - they are all occult mysteries to him...strange, forbidding, and vaguely menacing.
But as a bull market develops, more and more people see what is happening. Gradually, one by one at first...and then in droves...they discover the rising market and want to get in before it is too late. Already, the Tocqueville Gold Fund reports that assets are up more than 50% in the last 12 months...but only to $293 million. A prediction: the fund will have billions in it before the bull market in gold has run its course." |
