Friday
My interest in Gold was forged in 1976 when I panned for Gold in the Putumayo region of Colombia – wild times in the wildest part of a wild country.
I survived and present a more dignified and sedate image to my grandchildren – though I still sit with my back to a wall.
What is happening now is not a repeat of that stunning run on Gold and silver in the seventies.
This is the real deal.
There will be no market top this time. The long-term decline of the currencies, all of them, is about to hit terminal velocity. As they collapse, so will the value of the assets that will flood the market as people who were once wealthy desperately try to make ends meet.
Those who profit from this Gold/silver bull are those who can hang on long enough to scoop up those assets at the bottom of the market.
Those who do not own Gold and/or silver, or who have to swap them for currency to pay their bills, will suffer terribly.
The times of fine dining, wine and loopy delusions are drawing to a close.
We will all lose, even those with Gold and/or silver. Life is more than just owning assets.
It will be wild times for everyone. Colombians used to swap two letters to come up with Locombia – the land of the crazy.
Viva Locombia!