You are right--there's no way the PMs are in a 'bubble' despite the MSM saying gold is at an 'all time high.' Rarely do we hear the fact that the 'old high' in 1980 was based in dollars with a lot more buying power. In other words, inflation is always left off. For gold to get to a REAL all time high it must more than double from here. And inflation is just getting started. They're essentially monetizing the debt--papering over paper with more paper and that always ends badly.
As for mines based in the US, yes that can have a deleterious element to it if metals prices are low. When PMs go up, the US is better place to be due to long term stability (unless a new revolution breaks out from outraged citizens when their buck is devalued 50 percent overnight). CDE has a mine...where...in Bolivia? Profitable, yes. Stable over the long term? Perhaps not.
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