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Gold Discussions
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Re: Todays debacle Of course the deck is stacked. But that does not mean you can't make money on this sector. I've been in gold since 2013 and I've done ok. Granted I would have done much better buying the s&p 500. No one had any idea that the Fed and Treasury could run such a successful ponzi. There are consequences however to their actions. The dxy is close to 92. Simply ridiculous with our budget and trade deficits. If the dxy falls to fair value - IMF says around 80, many economists say 65 to 70, the currency inflation would shake US capital markets to the bone. Then on top of that we have supply shortages, rapidly increasing marginal cost of production in many sectors (base metals - i.e. copper - surface mines are nearing exhaustion), large increases in minimum wages etc, so the only thing transitory is the US economy. I favor low cost gold and silver miners, with no debt and hefty cash positions, 2 to 3% yields with share buybacks in place. You can still pick up these guys at good prices - nem, aem, kl, auy, kgc. Then you have special situations - torex, freshnillo. Also, I've been buying cef, pslv and phys. Lot easier to trade and less expensive to hold then physical in your possession. I have total confidence in Eric Sprott. Never thought I do this but I'm going to sell my physical gold and put it into the miners. Got a bid for all of it. My cost is around $1225 per oz. Got the cash on hand to simultaneously buy the miners - the same time I agree to sell the gold. And yeah, I have to pay capital gains but it's not a killer plus I don't have to worry about getting robbed. |
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Msg # | Subject | Author | Recs | Date Posted |
713 | Re: Todays debacle | carler98 | 0 | 6/18/2021 8:17:52 AM |
715 | Re: Todays debacle | AspenFlyer | 0 | 6/18/2021 12:18:39 PM |