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This picture is too funny! But the author likes gold.

Posted by Richard640 @ 17:25 on July 25, 2018  
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GOLD: COME’ON – ADMIT IT – YOU WANT TO OWN IT
Wed, 25 Jul 2018

One of my buddies likes to bug me about my gold views. “For a not-completely-dumb guy, you sure have a boneheaded love of that stupid yellow rock.”

Yeah, I get it. It’s my hidden shame. But a part of me feels I am simply brave enough to say out loud what we all feel. Kind of like that other thing that no one says they do, but which everyone does. Don’t bother telling me you’re different – I don’t buy it. My favourite kind of person? That one buddy who instead of denying it, just owns it. When he unabashedly not only admits to doing it, but brags about it, you can’t help but smile.

Well, I am hoping my love of gold squeezes that same sort of smile from you.

In this world of bat-shit-crazy central bank policies, a smidgen of the asset that has maintained its status as a store of value for thousands of years seems prudent.

Don’t bother writing me with all your Buffettisms about the unproductive asset that is gold – I have heard them all. I get it. Believe me, I am far from some gold nut-bar who believes Fort Knox is empty and I understand the difference between a long-term income producing asset and some inert rock.

In fact, if I thought central banks were to abandon their aggressive financial repression, I would ditch my bullish gold forecasts. But I view that as a low-probability outcome. In fact, I suspect in the coming decades, the financial repression will get worse. Therefore I view gold to be an asset where the big surprises will be to the upside, not the other way around. I would even go as far to say that when I have no position in gold, I feel naked.

Now that I have made this startling admission (and in the process lost all my “serious” moneyed readers who wouldn’t touch such a barbaric asset), I want to explore what’s happening with gold recently.

https://www.themacrotourist.com/posts/2018/07/25/gold/

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Post by the Golden Rule. Oasis not responsible for content/accuracy of posts. DYODD.