I appreciate that I may not always agree with what you write but I listen and examine and respect your viewpoint. You, in turn, have answered my many questions and discussed my comments with respect in return.
This makes me worry that the ability to discuss problems in a straightforward and thoughtful way may not be possible in the future.
Keep up the good work
REPLY: In order to be an international adviser, the very first lessons I learned was (1) listen to everyone, and (2) view the world through their eyes.
I was giving a lecture in Geneva to a small group of institutions back in 1982 but some had flown in from other countries. One was from Canada and the exchange was quite interesting. I had provided the forecasts on the individual currencies and then I moved to the commodities. The Canadian asked so he should be a buyer of gold and I said yes. The on Swiss institution said yes but your forecast on the Swiss franc would mean I would lose money.
When I looked at it in terms of each perspective it was clear. The rally in gold would be impressive only in US$ and CD$ so it was a buy for the Canadian and a sell for the Swiss. Indeed, the rally into 1983 was a strong rally for gold in US$ and CD$, but not in Swiss.
We all have a view and money to each of us is still a mental calculation based upon our home currency. To even do my job, I have to be able to see the world from all perspectives. We are all human and we will all act in our own self-interest.
My clients have trained me. Having to deal with many crises around the world forced me to see the world through global eyes. This is why MY DEFINITION of what constitutes a bull market is something which rises in ALL CURRENCIES!!!!!
We will all never agree for we will always see things through our own pair of glasses. Never forget, others will respond in the same way.
My philosophy is very simple. There should be no law which compels others to act in a way I believe if correct provided their actions do not harm anyone else. I leave you alone and you leave me alone and we can all get along. I object to politics that seeks to exploit class warfare for historically that has ALWAYS, and without exception, led to civil war.