I disagree with you as we are not dealing with a normal...

I disagree with you as we are not dealing with a normal situation. Just look at the charts below. In a crisis POG does very well. It almost doubled from 2009 to 2011 and in 2020 which was a much smaller crisis (ie not a banking crisis), POG still went up a lot in 2020.

If the banking crisis gets worse, a recession occurs later this year and the Fed stops raising rates or even reduces them late this year and into next year then the US dollar index will fall a lot, inflation is set to be sticky then POG will be set to increase significantly.

Go back to the 1970’s and early 1980’s - it’s just another example and a similar situation to now (ie high inflation, high interest rates) but a more extreme example of what happened to the POG. The difference now compared to the 1970’s which also had high inflation is that the whole is flooded with huge debts in public and private sectors.

A boutique fund manager (Collins Street) is setting up a gold fund focused on junior miners as they are very under valued and they believe there is not much time to get into gold stocks before they soar.

However, no one can predict the future and how big a crisis we face now. The really big issue is that there is so much debt around and that could make the situation over the next few years a lot worse than in past crisis.