Source: Michael J. Ballanger for The Gold Report 03/27/2017
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Precious metals expert Michael Ballanger discusses silver’s recent price performance and why he believes precious metals are in alignment for a major ascent.
“Every stock market bull out there whether in New York or London or Mumbai or Beijing is in a drunken myopia of elevated expectations and deviated denial scrambling and scratching and pleading for assurances that ‘it is truly different this time.'”
Writing a missive such as this one has been a labor of love for me since the mid-1980s when I began to observe how stock market investors behaved at or near major inflection points—meaning “tops” and “bottoms.” It all began in London, Ontario, in the summer of 1982 when I was in attendance at the annual London Chamber of Commerce Annual Canada Day barbecue where business types of all persuasions came together to “try to hustle up some new business,” a 1980’s version of the 2017 term “networking.” Situated near to the bar was a bank of phone booths with the name “BELL” emblazoned on their roofs, which were the only forms of communication back then (or as my kids say “WAY back when”) while the men in their penny loafers and corduroy jackets with patched elbows sipped rye whisky and/or beer (the heavier the better), swapping stories about the state of the markets, stock and real estate.
In the summer of 1982, interest rates were perched atop the mountainous aerie of 19% in Canada and I recall how as a young financial advisor I was chastised by my peers for taking $50,000 of a customer’s trading capital and investing it in Government of Canada bonds maturing in 2001 …read more