Precious Metal Jungle

Precious Metal Jungle

In 1974 there was a famous boxing match in Zaire, now known as the Democratic Republic of the Congo, which pitted George Foreman, the 24 year old undefeated heavyweight champion of the world against Muhammad Ali. I was 7 years old at the time and this was the first time i really began to pay attention to sports, boxing in particular. According to magazines and commentators at the time, Ali was an old barbarous relic. Where have we heard that before? He was 32 years old at the time and the odds on the fight were 7 to 1 in favor of Foreman the younger champion. This historic fight was known as the Rumble in the Jungle and Ali won the fight in the 8th round by knockout. Now for every dollar you bet on Ali to win, you won 7 dollars when Ali knocked out Foreman in the 8th round for the win. This fight reminds me of an epic fight which is going on right now in the precious metals markets. In one corner you have the FED which is undefeated when it comes to manipulating markets and is much younger only having been around for the past 100 years. In the other corner you have Gold and silver, which represents the current trend in motion which is up in this bull market in precious metals. Who will win this epic battle? On the face of it, these last few rounds have gone to the FED. However the fight is not over yet and my money is on Precious metals. The FED may be undefeated but Mother Nature has never lost a fight even though she may lose a round or two every now and then. Mother Nature is the greatest, just like Ali, and it is a hard lesson the FED and all those holding paper currencies will have to learn. If you have the patience, and the intestinal fortitude to hold on as you ride this bucking bull market in precious metals, then you too will win the rumble in the jungle and the payout will be much better than 7 to 1. I am 45 years old so this will probably be the last bull market in precious metals in my lifetime. I’m going all in with everything I’ve got! Good luck!

1 comment to Precious Metal Jungle

  • James Tetreault

    I like the analogy. So, this consolidation period is essentially the “rope a dope” as the gold and silver market simply absorb whatever punishment the central banks dish out but despite their efforts they can’t knock gold and silver out. And when exhausted central banks finally stop punching their faces will be smacked down to the canvas very quickly.

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