Dreams don't always come true for TV singing show contestants or gold enthusiasts. As Santiago Capital's Brent Johnson explains, precious metals remain in a long and painful bear market… so why continue to own gold? Simply put, despite all the cries of "you suck" and feelings of loneliness and depression, "if you have done your homework" this will lead to conviction because all the reasons to own gold are still there and are now even more compelling…
Contrarians, by definition, spend most of their time bring wrong "until the moment they are not and the big pay off comes."
Brent Johnson explains "you don't get to make the big money and have it be easy…"
The Party In The Global Equity Markets Is Winding Down and "Our moment is coming.. and when that happens we can be humble and gracious or pompous rockstars. When this position – which has been so painful for so long – pays off, the urge to say 'I told you so' will be almost impossible to resist… but please don't say it."
"Our winnings are not going to come from the backs of politicians who sold out their constituents in mountains of debt; it's not going to come from the bankers who loaded up their balance sheets with trillions of dollars of derivatives; it's not going to come at the expense of the celebrities in Hollywood or rockstars of New York. Our winnings will come on the backs of innocent people around the world whose prices will rise as their wages fall.. it's going to come from the people who wake up one morning to find their savings have been devalued or bailed-in… it's going to come from the pension funds of teachers and firefighters. The irony is that when gold finally pays off – it will not be a cause for celebration."
via Zero Hedge http://ift.tt/1lMuDrm Tyler Durden