Gold in these times.Why do we have to dig, drill, mine, chemically treat, export, import, crush rock, excavate tons of material, just to create an alternative world currency, a platform for jewelry, a stable metal for electronic switches?
I'm here because I think that the western world has destroyed their currencies. So, this becomes an alternative that takes some effort to create.
I don't buy bitcoin or other crypto currencies because they are like voluntary work done for WE - all about me, no effort, no foundational value.
This run-up before Good Friday and Easter, has all the hallmarks of short covering before a long weekend. The shorts may resume next week - possibly Wednesday - the market's favorite day to make a massive change.
I hold a core position in gold and silver miners, which means I hold a small position in KL.to.
The enticements here remind me of the inticements of joining a mafia family. There's protection, but at a price. If you're into it too far you end up looking at the price of gold on the internet when you wake up at 2:00 am. In subsequent nights you may start waking by habit, checking your back, shortening your life. Too much and you can't function during the day without looking over your shoulder.
But, just a little gold, silver and oil and I sleep nights, I don't care from day to day, I focus on buying and studying more worthwhile enterprises that make products to help people, products that people want and therefore buy, in my capitalist modern (not postmodern) society.
Have a good Easter weekend everyone.
cleareye.