Gold and Silver Breakout, page-167

Honestly , after those bullish weeks , im overall as usual dissapointed and think the whole space is ridiculous !
We are talking cents for 11 12 years now ! If a nickel day comes or not for Ag ........... Only reason im in all this !

But stretchin my nerves ....... Ballenger wrote the best piece about it ! Gold and Silver are the biggest dissapointing loosers on the planet !
ONLY Analytic whos saying it like it IS ! Exactly my opinion ! We cant change it though !!
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As for gold and silver and those disgusting miners, they could not muster up a sustained bid even if Pierre Lassonde, Rick Rule, and Peter Schiff decided to do a hat-and-cane vaudeville revue touting their “incredible value” with a song-and-dance act performed to the tune of “Happy Days are Here Again” accompanied by George Formby on the ukulele and Stormy Daniels on the flute. This entire sector is acting like it has been caught in the crosshairs of a deflationary wave that is just over the horizon, and if it were not for oil’s impressive trajectory since December, it would probably explain a lot.

I have been “in the chair” (investing) for nigh on 45 years and have never seen babies hurled out with bathwater as frivolously as is happening here in 2022. Whether a company trades at three times cash flow with a 6% yield is irrelevant; operating in a third-world country means they should be thrown directly under a manure truck without passing “GO.” Make no mistake; gold and silver miners are dirt cheap but that does not mean they are “attractive” to the legions of generational mutants that have never made a plug nickel on anything that produces metal. They are delighted to own companies with tens of billions in market cap that sell stationary bicycles equipped with iPads for entertainment (and lap counting), or electric vehicle producers forced to recall half of their second-quarter production because their cars kill people. That is fine though, because “old guys” like me “don’t get it” and you kiddies can continue to tell me that until the Papa Bear comes rumbling into the room and impolitely relieves you of your net worth, at which point I would expect you will lobby the politicians for “emergency relief” because they did not tell you that stocks had a downside risk element. You are absolutely correct; I really do not (and will never) “get it.”

Originally published Feb. 5, 2022.