A few thoughts. If you followed my YouTube channel from 2011 or have seen any of my videos from back then, you would know I was bearish on Gold right from the start. I went short Gold early 2012, I literally had to wait almost 2 years before I got paid what I expected. See chart below and note 2012 to 14.
Today I see a lot of people (not Gold bugs) wanting to buy Gold, I scratch my head thinking why??
Couple f points to take away from this.
1. Some times you just have to wait to get what you deserve. Don’t go for the quick trade.
2. Hard to have any conviction unless you really understand MMT.
I often think how Buffet did it. Than I wonder if he understood MMT way before anyone else. If so, it’s like shooting fish in a barrel! Because if he understood, that increased deficits add to private sector assets, than what does he have to worry about when things look bleak? Nothing! Zero fucks given by him. Homie is getting paid and he knows it! Now I am not suggesting that he does know MMT but perhaps it’s time we become a little bit more like Buffet knowing that we will get paid in the end and not care what today’s sentiment is. 😉 Food for thought.
Author
yup, even if govt doesnt print money, the defaulting of endogenous money creates forever money. It’s then up to the govts to bail out the failed banks if they don’t want any rioting and revolution of the population.