I Found Your Bear Market
I’m sorry to disappoint the gold representatives out there, like Jakegint and his ilk, but gold miners are in a terrible bear market, for more than two years. Let’s face some realities, shall we?
Gold, as a metal, has done well over the past two years. However, we’ve seen a horrific divergence between the metal and the miners, haven’t we? We’ve seen this divergence because the facade has been lifted off the farcical faces of the executives at these companies, leaving the companies exposed for what they truly are: frauds.
When gold was on its initial way up, the miners shot higher based upon expectations that the miners would be minting coin. Truth is, the miners are burdened with high costs and operated by inefficient, lazy criminals– posing as corporate executives. They never quite made all of the money they were supposed to make, did they? I do not intend to back up any of my statements with proof. However, I will point you into the direction of a few statistics, alongside a graph.
Here is a chart overlay of the GDX vs the commodity itself, represented by GLD.
If gold is money, the gold miners are Myanmnar Kyat.