by Andrew Hoffman
Miles Franklin
Last week, “Admiral Sprott” was asked what the Precious Metal bull market was like in 2000-11. He replied that it was as painstaking as today, with the Cartel seemingly “winning” more days than it lost. Having been fully invested in the sector since mid-2002, I concur 100% – as even during the “best of times,” it was sheer torture. Of course, until 2008, my portfolio was entirely comprised of highly volatile mining shares – largely, exploration and/or development companies – so the stresses of Cartel-created volatility were that much more powerful.
Today, not a thing has changed – except my Precious Metal portfolio, comprising roughly 90% of my liquid assets, is 100% physical metal, with my only “financial asset” being a 1% position in Bitcoin. Thus, the stress I feel during today’s Cartel attacks – which per the “manipulation mantra” I coined circa 2005, “each day worse than the last,” has not let up one bit – is more muted. But just a little, as after 14½ years of watching the government – er, Cartel – attack my net worth, livelihood, and sanity, I’ve built up a lifetime’s worth of anger.