johny, I think the beating us gold bulls have taken in the last three years would soften most of us. I have absorbed my losses and now only hold about 20% of my portfolio in gold producers (my way of having the super leverage fun of being beaten down). My diversified portfolio is now 20% gold producers, 10% other shares, and 70% cash.
I am hoping, to prove my morals correct, and my cash a good investment, to see the huge economic apocalypse that should come. But if it does not come, that is OK. It means my job is safe and I can keep squirrelling away my cash.
I actually was angry at the huge bull Jim Rickards. I heard an interview recently where he said 'I did not tell my followers to be so much into gold... 5 or 10% insurance gold is all that is needed in a portfolio'. I sure wish Jim said that three years ago.
So, I agree with you. The most ardent gold bulls sure have retreated. I retreated. But my outlook of the mess the world is in, has not changed. These are amazing times. The entire world and world economies are all the Emperors with no clothes. One day, somebody is going to notice the entire freaking lot are naked. It so convinces me, then, to vote for Jessica Alba for US pres and not Hillary. And I sure hope Merkel is not re-elected before the unveiling.
