The Time of the Stackers
Jeffrey Bennett

The past few years have been challenging times for most of us in the coin and precious metals business.

The US$ price of gold has been in retreat since 2011, but sometimes we have to look at the big picture, and reexamine our premises to remember why we promote gold and silver and how such resonates with our clients.

For many it is a hedge against the inevitable coming chaos that the fiat debt ponzi-scheme will lead to. For others, yes, just a speculation for profit… buy low, sell high. Some of our clients intend their gold holdings to be a permanent family estate, and if rare coins, a family heirloom to pass from generation to generation. For we in the business, it is both a passion and a livelihood chosen because we are believers in honest money.

For all of us, it is insurance upon all our other assets that for now have benefited from the system.

To those investor’s who have been expecting gold to begin another run sooner, yes it is common to feel impatient or have your expectations challenged and not validated. We send out* many well-reasoned articles by authors and analysts who have chronicled and studied the market action, both fundamentally and technically. There are permabears, short term bears, permabulls, and cycle bulls… yet the market price already has all these opinions and trader actions upon these opinions. Now we have other players, the governments and financial institutions that have a vested interest in keeping the fiat debt based currency and their access to its spoils for as long as they can maintain the power politically, in an alliance between politicians, the banksters, and the deep state. One of my very opinionated and influential clients (who has not added any gold in 2+ years) believes that the Powers’ grip on our monetary system, now “managing” the former market pricing of all assets (“rigging”), is going to be with us for a long time.

While I am not in the “gold is finished” camp, it is becoming apparent that political financial power is the driver behind most all pricing that used to be natural and fundamental. The US welfare/warfare State has succeeded in demolishing the pricing of every commodity that benefits non-submissive States, regardless of the tragedies, chaos, and deaths……ergo the “collateral damage”. The correlating benefit of course is driving whatever capital remnants that survive into supporting the US stock, bond, & real estate markets. The debt burden on all Americans who do not benefit, who do not have access to free fiat, to crony deals, is already changing the America we grew up in to a hostile, unstable environment with a defrauded, mis-educated, politically confused populace. Meanwhile, the convenience and efficiency of being internet “connected” has morphed into a growing surveillance State that will serve the masters who mold our minds, our behaviors, our choices, and our compliance.

For some our real estate has soared, our businesses are prospering, many stocks have made new highs, bond prices have risen with falling interest rates. Technology has been quite profitable directly or indirectly for most of us, but even technology will not solve the monetary situation and cultural disintegration that the Statists have created. It is a ticking time bomb.

This “party” more so is benefiting the corporate & political cronies of the US State, at the expense of the USA economically, politically, and culturally for future generations. While the party goes on, much of the rest of the world is preparing to financially operate and thrive after the end of US hegemony.

None of us really know whether we are already within that turning point, or it will start 2016, or is still years out.

None of us really know if it will turn quietly in disguise, with various assets moving in new directions for sometime before the realization sets in that the trends had changed, or, if it will be sudden, volatile, and the result of “black swans” or critical mass as in 2008. What we do see is unusual pessimism among precious metals owners and “irrational exuberance” among owners of financial assets. This is a formula that has always proceeded a major turn in both asset classes.

We even have, for the first time in history, retail speculators net short paper gold on the COMEX exchange. With the professionals and the banksters taking the other side of that trade, it won’t be long before the same public that was caught long gold and silver at the 2012 highs will be caught short as the trend changes, and wrongly shorting the initial advances.

The same retail public is now lopsidedly long the USA dollar versus major foreign currencies. One could argue that the Dollar is the best of the fiat debt currencies and may be the last to crumble, but it is a crowded trade right now.

One thing I am very confident of. I will live to see the punitive resolution of the debt pyramid, and resultant new highs in gold. Remember, that “house of cards” USGovernment debt, still expanding even with near zero interest rates, can only result in these scenarios: resold, inflated away, or reneged. Zero to negative real interest rates and an impending monetary crisis have already killed the market for USBonds. The Federal Reserve itself is the only “buyer” remaining. The (permanent?) indebtedness of the typical US household prevents any real interest rate hike as that may set off the entire collapse scenario.

Despite what propagandists tease the markets with, we are stuck with ZIRP (zero interest rate policy) until the monetary system is reset by necessity or failure.

Maintain the discipline. Keep building your gold and silver inventory. Go about your work pursuits and personal fulfillment. Live life to its fullest rather than obsess over the daily price of gold. Avoid speculation. Educate your friends, your relatives – and even those who don’t agree with you. Teach them to “save” in gold. You are an insurance salesman.

We very much have appreciated your business past and present. We are always here to take care of your needs.

Best Wishes to all our friends, colleagues, and customers for a healthy and prosperous 2016!

Without Apology I am,

Jeffrey Bennett

www.kettlemorainepreciousmetals.com