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| I note the occasional reference to gold ratios & silver ratios to various products.
Gold bugs crawled out of the woodwork in the early 70's & I do not trade the gold futures (if you want gold, OWN the real stuff) as during those years I noted those clients of mine who were big in metals seemed to make a lot of margin calls and were frequently in considerable anguish (particularly those in Platinum)...those are much different markets.
When the Peanut Roller was in office & the Texas Duo put on the silver episode, by coincidence I was in Manhattan on the day the Comex ordered "liquidation only." Sitting in a couple of board rooms that morning, I took note some of the ole' boys were considerably relieved as most were 'stuck' on the short side. POINT-the exchanges have considerable power & if 'local' boys are 'en masse stuck, the rest of the trade-retail traders- can 'suck wind.'
During the late 70's I attended many meetings & conferences & always seemed to have one person on the program with a slide projector relating some commodities were too cheap relative to gold. One of these boys, out of Tucson, has disappeared from public view, but a few others divide their time between flipping hamburgers or working as Wal-Mart greeters.
I am not anti-gold. I believe the ownership of the actual gold fits into most portfolios & keep that part of your ownership somewhat secret to avoid 'midnight shoppers.'
However, in terms of the futures, and I am admittedly out of date, from my experience, the number of net net winners could be fit into a telephone booth.
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A Caution
