"Thought over the years I had heard most rumours and stories (Haven't we, David ?) But......................

"Haven't read it, but it does seem to fit in with the theme of your recent comment."

David Fuller's view Yes, we have heard plenty of rumours over the decades, including discovery of the Roswell Alien. They are usually fabrications.

The one above came from GATA, which exists to promote gold. Also, Ben Davies of Hinde Capital runs a leveraged gold fund. Perhaps he is right but he is not exactly a neutral observer.

I am not certain which of my recent comments you are referring to but Eoin and I would be very surprised not to see more price spikes in commodities, including precious metals. That is what happens in secular bull markets, especially when they are awash with liquidity. The uncertainties concern timing and magnitude.

Our priorities, I suggest, are to remain calm, staying in the game while the price action remains favourable and utilising sound money control tactics when the going is really good. For me, this usually means trailing stops and lightening positions when trends accelerate.

Here is a presentation from Hinde Capital, which I received not long ago. Incidentally, if you open it all the way, you can only get out by pressing your 'Escape' key, upper left. I hesitated in posting Hinde's PDF, despite some very informative graphics from a number of sources. They certainly remind us of what a serious mess the mainly western economies got themselves into. That is sufficient justification for the secular bull market in precious metals but I also think some of the presentation's comments are over-the-top. You may find the graphics compelling, as did I, but remember, this is a marketing document.