Ladies and Gentlemen, behold inflationist gold bugs’ handy work
It never fails.
On a day and during a week when industrial metals (incl. Doctor Copper), Agricultural commodities, outlier commodities and even the last inflated man standing, Energy commodities are down, and inflation expectations dropping so too are the gold miners. The same gold miners that should never be thought of as part of the inflation trades for reasons I will not bother to repeat here but did repeat during Saturday’s interview. They obviously have some level of inflationist population in the investor base.
So one day when the miners go bullish I ask you to please remember which gold bugs were leading you astray at key moments and which gold bug was presenting you with facts, rather than dogma. Because the promoters will be back in force with all the ‘I told you so’s’ they can muster and many people will forget or ignore the sordid history of their bad calls when greed is again in play.
It’s one part annoying, one part comical and 2 parts reality. Inflation-centric gold bugs will always lead their herds to frustration at best and disaster at worst. Right now the word is frustration. I wonder if that will morph to disaster as it has in the past.
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