Gold - is it time to let go?
After failing to take out $1300 earlier in the week gold fell back below $1280.
Silver is still stuck in the low $17s
This has been a typical pattern with the precious metals for many years now.
Go up, give it all back, plus more.
To be fair and honest gold and silver have been terrible investments these last six years.
While many people make small fortunes in stocks and real estate precious metals investors have been kicked in the teeth and raked over the coals for six years.
It's been discouraging and demoralizing these last several years.
The big question is are pm investors about to get rewarded for their patience and loyalty? Or is it finally time to wave the white flag and give up?
The short answer is it's time to let go.
After six years of this bear market it must be apparent to all that this isn't changing.
The gold pumpers will keep trying to convince you that a new bull market is always right around the corner, but the fact of the matter is it isn't.
I don't know what has been more cruel - this bear market slope of hope, or these gold pumpers keeping people hanging on, offering up a false hope.
The FED has complete control of the market, the gold cartel can short gold at will,
Stocks and real estate are soaring. No one needs gold.
Before you rebut me with all talking points the gold pumpers have been feeding you with, don't waste your time. I've heard it all before.
And those who tell you to just keep stacking, what are they doing to you?
They are having you waste more of your time and money on dead assets, that could be dead for many many more years.
I'm gong to give you tough medicine - cut the cord, run up the white flag, and admit to yourself that pm investing was a complete flop and failure.
I've held on for six years and I am letting go.
We've seen the best already.
Don't say you weren't warned.