silver and gold are bouncing back from the big vaccine selloff yesterday but miners are lagging. I think investors are adjusting their expectations towards miners after the big vaccine announcement. BUT governments are still going to have to continue printing money and have already printed unprecedented trillions of dollars that are already spent and gone.
I think the metals will come back as investors realize that the vaccine isn't here now and hasn't been approved yet. The actual production of the vaccine and distribution to the general public is months away.
The economy isn't out of the woods. The government has delayed the bad news by prohibiting rental evictions and mortgage repossessions. Eventually they will have to let mortgage holders and landlords exercise their rights. Jobs are the biggest problem. No jobs, no income, no money for housing, travel, entertainment.
Over the next 12-24 months, the stuff is going to hit the fan. The FED can't print away the misery that going to follow.
I'm all in on miners. Wall Street has been demanding more printing. They will continue to encourage and expect money printing until the markets realize that all this money printing is significantly devaluing the US dollar. Longer term, the US dollar is going to fall and IF/WHEN the US dollar is no longer the world's primary currency, the US will really feel the pain. It's longer term but it will happen. We have abused the privilege and history has shown that the abuse will have negative consequences.
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