I write this quickly, since until I found a way to get on the internet, I was lost. My internet supplier has cut me off till he gets his fiber-optic cable run into my house, and he says it may take till July 2nd. However, due to the genius of my son-in-law, I am on the internet without the fiber-optic cable. It may not last, and if it doesn’t you can call me at 1-970-249-4646.
What has Biden done? Basically, he has, like unwinding a roll of string, destroyed everything that Trump did. Now gasoline is $3.25 in Colorado, and $5 in California. Used cars are $10,000 higher than before Biden took office, as a dealer told me this morning in church. According to him, a used Ford F-150, used to go for about $22,500, and not it can easily get $40,000. The stock market has gone down at least 10%, and gold has followed, but by half that percentage, making it a grand time to buy “low,” because I can almost guarantee you it will rise again just like it did in 2008.
Why is gas so high? Because Biden has cut off all exploration and drilling in federal lands, and we now import oil, whereas we used to export it. He has cut off continuing to build the wall between the U.S. and Mexico, even though over $2 million had already ben appropriated for its continuance. He seized it, and sent it elsewhere. Mean-time, hundreds of thousands of illegals cross into America and no one stops them and the border patrol is powerless to stop them. Biden has busses to take the kids to various places in the U.S. and simply drop them off.
The Vice-President refuses to go to the border, but rather visits the Central American countries and gives them big money for nothing, but she says it will stop their desires to leave. Giving hundreds of millions to dictatorships will change them into benevolent rulers? In a pig’s eye. She’s disgusting.
Biden went to meet with Putin and tried to give America away. Everything Trump did is coming unwound quickly, and I can’t wait to see what happens this week. I shudder to think of it. Thanks to Biden and his gang, they claim that inflation is 5%, and most say it is at least 13%. Under Trump, it was almost zero. Biden is even wooing Iran it seems. We, under Trump had about 3% un-employment, and now, it is at least three times that. Biden has given away the treasury to practically everyone by giving billions to those who don’t want to work, and now don’t have to.
And oh! The climate change nonsense! The temperature has gone up 1.5 degrees since 1900 or earlier, and there’s climate change everywhere in all the media both print and electronic.
I was shocked when Friday a week ago gold dropped $80, and has since hovered around there since. Shows you that no one can predict what will happen 12 hours into the future, or even a half hour in the future. If I could have predicted two minutes into the future, I wouldn’t have tripped and broken five ribs in my pelvis. Had I known the future, I never would have fallen! I have tried to find out what happened, and can find no cause other than possible someone or some hedge fund sold a massive amount of gold futures. Futures if they might be lucky might have 30% of what they represent in physical gold, and the rest is paper. If every holder of gold or silver futures contracts demanded physical delivery, no more than 30% would get it, and the rest would have lost all. That’s why owning physical is so wonderful. Went down $80? “So what, its paid for,” is my feeling, and time to buy in the present lows. lows.
To show how un-predictable the future is, a client of mine flew in in his own plane and bought 75 ounces of gold. He paid and took it with him, and the next day it was down $80. He laughed and said that he knows it will rebound again and he’ll be OK. Sunday was Father’s Day, and I hope your kids called and wished you a pleasant one!. I’ll do better next week!
– Don Stott, don@coloradogold.com