"If" - Reflections On The Precious Metals

Tyler Durden's picture

Last week's collapse in precious metals prices reminded Santiago Capital's Brent Johnson of Rudyard Kipling's famous poem 'If' - "If you can keep your head when all those about you are losing theirs." This brief but complete summary of why one should hold gold, the theories about the drop, his view of the manipulation - "would it really surprise anyone?", and the ongoing and increasing realization among the mainstream that a rising gold price is the canary in the coalmine of economic distress and currency debasement is well worth the price of admission. His message is clear, buy physical gold - rather than futures - don't use margin and store it somewhere safe. The last three minutes of "Ifs" are a succinct list of the questions everyone should ask themselves about the status quo.