Politicians had sold out America’s middle-class a long time ago. As the U.S. was able to come out on top after WW2, the ability to print currency and fall into debt, left foreign governments and their taxpayers stuck with the bill.
My broker asked me yesterday where in the business cycle my research tells me we are. He wanted specifics, so today’s letter is essentially what I communicated to him, but in broad detail.
Time to say goodbye to Dollar-cost averaging, to hedging bets by shorting gold ETFs, to owning the Carbon-Free ETF, which is up 200% already, and to patiently sitting on positions for months, doubting whether or not the market is right and we’re wrong about gold stocks being cheap.
Last week, when I met with Keith Neumeyer for two back-to-back mastermind sessions, we discussed the future pricing of gold in detail.
One of the distinctive characteristics of Warren Buffett and many other long-term investment legends, is their ability to build a position in an asset class, which doesn’t pay a dividend, nor produces cash flow. It doesn’t earn anything. In fact, it will surely cost them money to hold it.