by Quant2011
The grandest manipulation of Gold and Silver is the very existence of fiat currencies and gov bonds in themselves.
These ledger units simply DISPLACE gold and silver as valid real sound money.
And why they do still exist?
Worlds people allow it and SUPPORT it actively each time they do not convert fiat to metals. Each time they take debt.
Each nations military, and , you bet — these are powerful folks — has zero interest in balanced state budgets and global prosperity to the point there wont be conflicts between nations. Maybe except Russia as a commodity giant – unlikely to have a need for debt to finance military.
So in this regard, my view is somewhat different from Jeff Christian, Rick Rule, Giustra, Steve Angelo, Kientz, John Adams, Schiff, etc.
I suspect only Macleod would *maybe* be on similar page.
Now go ahead and based on the above say that I’m anti-precious metals.
If your time horizon is 2-10 years, sure, I am anti being over 70% in precious metals.
Still i think PMs “could” go 5x next year – but its just damn risky to bet as strongly for one type of asset.