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Last week,
Miles Franklin had its annual Holiday Party in Minneapolis. At the 2011
event, I had just been with the company a month – but by this year,
many of my colleagues have become friends. Moreover, we added
one new broker this year, as well as writer-extraordinaire Bill Holter; who also traveled to Minnesota with his wife.
After
dinner, our faithful President – Andy Schectman
– “addressed the troops” in a jovial, heartening manner
only he can impart; and about halfway through, complimented one of the
brokers for his “STICKTUITIVENESS”; that is, dedication, perseverance,
and endurance.
I immediately
e-mailed that “word” to myself, as it embodies my work
ethic, value system, and overall “M.O.”; particularly,
in the WAR I fight each day to PROTECT myself and others from the
upcoming FINANCIAL ARMAGEDDON.
This week,
Bill Holter described perfectly how the
Cartel has controlled PM sentiment…
It has
gone like this from 1999 or 2001 (whichever you use to call bottom), Gold
“goes up” a little and takes some time to move even 5%…and
then the “smash” comes, it loses 3-4% in a day or two, and
sentiment turns black and blue. This has been script all the way along;
breakouts are nullified, 4-week rallies erased over 1-3 days, CNBC screaming
“top” or “bubble” several times per year, and the
attacks on “sentiment” job 1, even while the metals have
outperformed everything.
…Bill
Murphy lamented how “PAPER PM Investments” have destroyed
lives…
The gold
and silver share sector is still under siege, with sentiment worse than at
any time since I began this commentary in September 1998 – despite gold
and silver price increases from $290 and $4, respectively. Back then there
was HOPE, but now there is DESPAIR. Shares of many of the junior and
exploration companies are back to where they were when gold and silver were
at their bottoms at the turn of the century, or not too far off those lows.
Brokerage business in the sector stinks, there are few deals being made,
little money is available to enhance business, etc. Many veteran investors in
the share sector are fleeing or have already fled.
…and
James McShirley stated what we all know is
true…
The year
2012 will (so far) go down as probably the most heavily suppressed gold year
ever. As in physics there should eventually be an equal, and opposite force
to the intensity of this suppression. We all wait for that blessed moment
By the
way, it’s no coincidence I am writing about Bill H., Bill M., and
“James Mc” in the same RANT; as we
– along with my friend “Dave from Denver” – formed
the core of the GATA website for most of my “TEN YEARS
OF HEAVEN AND HELL.” NO ONE embodies more
“STICKTUITIVENESS” than us; although, I must admit it’s
difficult to maintain when holding the aforementioned “PAPER PM
Investments.”
As for
those holding PHYSICAL gold and silver, we must deal with daily attacks
on our net worth, credibility, and sanity. However, over
the past 12 years, our assets have outperformed essentially ALL others; not
only hedging against rising inflation, but positioning us to
live freer, more satisfying lives. In many ways, absorbing the PROPAGANDA and
public SHUNNING are as mentally damaging as the FINANCIAL attacks –
which is why it is so rewarding to see the fruits of our efforts.
If you
hold “PAPER PM Investments” like ETFs and mining shares,
“STICKTUITVENESS” may or may not save you – per Bill
Murphy’s comments above. However, with PHYSICAL gold and silver, you
are essentially GUARANTEED victory; so long as maintain your convictions!
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