PM Daily Market Commentary – 08/04/2020
Where do you guys get your market based podcasts?
Ive been listening to FSN (Financial Survival Network) because he regularly has John Rubino on. Also wishing I had bought the stocks of their sponsors lately.
USA Watchdog occasionally has someone decent on between the “Jesus is coming back any day now and Trump plays 5D Chess” guys.
Any other good ones you guys follow? Esp on gold/miners
I like Sprott and Silver Bullion TV (SBTV) podcasts.
So starting again with my data:
DF, I know I’m often critical of your covid/political analysis, but I really was agreeing with you this time. The Marcus Aurelius quote was just to say that we can’t trust what we see or hear, whether it comes from the news, the stock market, or the neighbor.
I do think you give way too much credit to the politicians, however. Whether it is TeamBlue or TeamOrange, they are all the same: self-serving idiots.
I was just talking to a pretty large metals trader this morning. He said the general consensus among traders is that the metals markets will have a 10 percent correction in the next couple days. Fwiw
People should try to keep in mind that the dollars (or any other fiat) is smaller than what it would buy in the past. Shadowstats.com tells us that the 1980 USD buys 15 times less than it does now. Gold’s present price therefore should be 15 times higher than the present price. Another way of stating this is since the 1980 gold high price was $850, the matching price should at least be $12750. We should keep that in mind as we watch the paper shenanigans on COMEX and London.
And for all you TA enthusiasts, in order for TA to work as an investment tool it has to assume a dollar is of a constant value. It isn’t. TA will not work – but it is used by the banks to rob you if you do.
And that the gold and silver prices have a long way to go UP.