A Picture of Hate; The Sanjay Bakshi Way

A Picture of Hate

Hui Gold Index

The news of poor acquisitions, dilution, rising input costs, poor returns, declining stock prices of miners are becoming baked-into prices. But who knows when the bottom occurs. All we know, is that all markets are cyclical.  Hatred of an asset class or industry is what one seeks when searching for bargains.


Historical Perspective



The Golden Narrative

To market participants in 2013 gold means lack of confidence in money, and their behavior in buying and selling gold similarly reflects this meaning. Buying gold today is a statement that you believe that global economic events may spiral out of the control of Central Bankers. It is insurance against some sort of massive monetary policy mistake that cannot be fixed without re-conceptualizing the global economic regime – hyperinflation in a developed nation, the collapse of the Euro, something like that – not an expression of a commonly shared belief in some inherent value of gold.

The source of gold’s meaning, whether you are a market participant in 1895 or 2013, comes from the Common Knowledge regarding gold. J.P. Morgan said that gold is money, and he was right, but only because at the time he said it everyone believed that everyone believed that gold is money. Today that same statement is wrong, but only because no one believes that everyone believes that gold is money.

Read more: http://www.lemetropolecafe.com/kiki_table.cfm?pid=10861

What the $%^&! wrong with mining shares?


Sanjay Bakshi’s Way



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