Noted economic historian Bob Hoye joined us for a recap of the latest meltdown. As the saying goes, “There’s nothing new under the sun.” Bob has studied every credit bust in known history. There’s a lot to be learned from the past. For instance, during a credit bust, the reserve currency experiences an increase in its purchasing power. And, gold mining stocks do extremely well because energy and other costs head south. Base metal mines do poorly, leading to a decrease in byproduct production of precious metals. Bob is extremely bullish on precious metals, once the current lows are retested but fail to go lower. Interesting times.
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