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Market Comments from Jerry 01/05/17

By popular consensus, the financial apocalypse appears to be on hold.  Most analysts say that the stock market is now the place to park your savings and precious metals are currently out of favor.  Regardless of what the media and financial advisors are saying, our business has been steady, though we are experiencing net selling.  Using the theory of contrary opinion (betting against the crowd), logically this would be the time to acquire metals.  Just like last year at this time when the prices were low relative to the rest of the year.

Real estate, art, diamonds, classic cars, guns and ammo, gold and silver, are all tangible alternatives to paper.  Traditionally, those have been the most stable places to house wealth and stored hours of labor.   Most of these free markets have leveled off or are in decline.

We have been living under a managed economy where the price and supply of money is determined by a small, unelected group of bankers, where commodities and securities are routinely manipulated by money center banks and hedge funds for their own benefit, in a world where bureaucrats torture statistics every month to convince an anxious public, not to worry, that inflation is only 1.4% and unemployment is only 4.6%.

Radical changes are coming in tax reform, debt management, and monetary policy.  The International elitist establishment is planning a new world currency to be foisted on us sooner rather than later.  Our best guess-that will happen in a year or two.

With metals now at $1,165/oz for gold and $16.45/oz for silver, this could be the last opportunity for gold bugs, fence sitters, bargain hunters, and first time buyers to buy gold and silver cheaply.

Could gold drop to $1,000 an ounce?  Possibly.  It wouldn’t really change our long-term philosophy though.   Take physical possession for the long term.  When the panic does hit worldwide, there won’t be enough gold to go around.

So, for now, we must accept the current reality and hope that things will turn around and improve, economically.  We will know in six months.  The metals markets will probably stabilize for a while, until the next shoe falls.

2016-gold-chart

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