RE:RE:What matters now?I make a distinction between precious metals and pm miners which i didn't make clear in my post.. Two different animals.
The miners are being hammered for the usual reasons--fear, margin calls and whatever means available to raise cash.
Relatively speaking gold has held on to the steady gains of the last year. But i am surprised it hasn't shot higher. My take on that is the 'stimulus' is doing its' laughable 'job'.
This 'hosing down the market with cash' has become the standard response to all market uncdertainty by central bankers. It's first use was 1987 when it was the response to the october flash crash.
The policy itself comes from analysis of the Great Depression of the 1930s which holds that monetary tightening completely dried up credit turning a recession into a depression.
Now the policy is ubiquitous world wide. The market sneezes and central bankers respond.
The last time i checked sovereign government debt worldwide, combined with individual debt, amounted to $140 TRILLION.
It won't end well. Gold, imperfect as it is, has always served as money. I expect it will again.
But i don't know if that means senior, intermediate and junior mining stocks will be no brainer proxies. Right now they're washing out.
I mean B2 Gold, as solid an intermediate producer as they come has given back most of the gains of the last year. Buying opportunity? Sure. So is Trevali is at 8 cents.