Gold Miners ETF (GDX)

[tootalljones]

In looking at 2008 Bear vs. today, where the miners have already been in an 18 month bear market.....it is just not that the Gold miners and GOLD was back then at the END OF A RAGING GOLD BULL..

it is not just that today's miners have PE's that are half of the frothy PEs of that gold bull market.

It is also that the balance sheets of the gold majors simply blow away the balance sheets of those companies back then....Back then Gold companies were paying wild premiums to acquire and using their stock as payment and it was a real paper chase thing, and the companies had no cash, they were so heavily leveraged....like the tech wreck of today which still exists..

and today further is showing that the West is shutting down mining of all sorts of things, gold being one area....The Green Agenda despises metals and mining....and remember too that the major gold discoveries simply are not being made; who wants to even put serious bucks into mining in america, when you know the EPA or ACOE will shut you down and never give you a permit, no matter how many world class science and engineering reports you can show them, when you ask for a federal permit,....THE FEDERAL BURECRACY JUST SAYS NO.......so there is a scarcity thing now too.....that largely did not exist 14 years ago.......the greenies and their ridiculous governments and financiers are perfect for gold and the coming cataclysm
.none of this existed in 2008 in a meaningful way.