We have had record low rates for several years now, allowing...

We have had record low rates for several years now, allowing people to afford investments and goods or services that they should have never been allowed to afford. Consequently, Austrians argue that bubbles are popping up everywhere. So your enthusiasm I feel is well founded. However, there are forces at play that can sustain the current status quo and delay the inevitable market corrections.

Government debt, being one such force, has risen. In fact government debt can still rise without disturbing or startling markets any more. There is a lack of urgency amongst the world's financial markets and the world's central banks have been effective at soothing and calming the markets. While I am convinced that QE will be a proven a failure, I have to remind myself that the raising of rates will be a slow drawn out process, which is playing havoc on my mindset. I originally set out to invest, but am nearing the stage where I am considering trading. The reason I feel producers are not good investments anymore is because while the macro drama plays out, producer's debts climb with an ever diminishing price of gold. Long term wise, time is on the side of the central banks. However, there is a part of me that feels that to fight the fed, one needs to remove the middle man and make more stable bets with physical. Don't get me wrong, I have my producers that I feel strongly about but I think timing is everything and the fed has more time than the miners. Perhaps the last card the world's central banks will play will be permanent zero rates, blowing away gold as a safe haven because the world does appear to eerily function if we temporarily forget that Canada and Brazil are in recession. Are more countries to follow? And what of China, the monolithic hope for a global recovery.

Of course, turmoil from China does excite the PM markets, however China has stopped people selling on the way down, banned short selling and devalued their Yuan. How much more turmoil can be seen when there is a veil of secrecy between China and the West? Devaluing the Yuan does appear to appease the markets effectively. It might be a temporary fix, however Chinese rates have a high place to fall from, as opposed to European, Japanese and American counterparts. This too could play out over a long period of time.

Never mind my ramblings.... Its Saturday night and still no date.