Since I first started stacking gold and silver (2002) I have weathered three bear markets and did not sell during any of them. The mark of a true believer.
The main reason I have held on is that I believe we have yet to see the kind of Gold bull market that will eventuate once the voluminous amounts of printed currency find their way into the wider economy.
I have been messing around with one of my toys this past week (Jaguar SS-100 replica.) The Jag 4.2 straight six engine can react with the slightest degree of change to the advance and retard or needle jets in the carburettor. A couple of degrees out can lead to a burnt valve or worse still blow a hole in a piston. The thing is I know what I am doing and also know my own limits.
Uncles Ben and Abe are breaking all the rules of financial engineering throttles wide open ignition fully advanced sump oil and brake callipers and pads removed for less weight. True enough a high speed can and has been achieved! OK for a quarter mile sprint maybe but for the longer run I have my misgivings. If anyone doubts me here I suggest you talk to the guy with the fastest Indian in Invercargill and ask to see his collection of old pistons and cylinder heads.
In engineering we have a common saying: If it ain’t broke don’t fix it.
Going by the amount of fixing the various financial wizards around the world are doing tells me something must be broken in the very worst of ways.
The Gold I bought at $300.00 looks just as good as the Gold I bought at $1,550.00 so I will continue to insure my future purchasing power with physical metal.
Good luck to others with their own specific insurance be it chickens and vegie patch or nappies and wipes. I’m sure we will witness plenty of various kinds of excrement over the coming months and years!
