Did I sell my gold mining stocks too soon?

Photo above - environmentally responsible gold mining in Quebec Province, Canada. People want gold because they are afraid of . . . everything. Photo courtesy of Canadian Martic Gold Mines, LLC, a subsidiary of Agnico Eagle mines.

“Trees don’t grow to the sky” is a famous stock market aphorism. So is “Cut your losses short and let your profits grow.” Those two strategies seem distinctly at odds. But earlier this year I took a look my gold mining shares (some Canadian company) and decided the nearly 100% rise was enough. Don’t get greedy. Besides I’m NOT a gold bug, and the entire US government was telling me in daily announcements that inflation was “licked”, and interest rates would start coming down any day now.

Well, interest rates DID come down last month. And funny thing: both home mortgage rates and gold prices went HIGHER, not lower. This seems at odds with 5 decades of Nobel prize winning economic theory, inspired by originalists like Adam Smith and David Ricardo. See link below regarding gold’s continuing rise.

Of course, Adam Smtih, David Ricardo, and John Maynard Keynes never imagined the USA would have a national debt of $35 trillion. In fact, none of the recent Nobel prize winners in Economics has much to say about how to tame the $350,000 in government debt owed by every family.

I have a couple of theories about why gold is still heading to the moon.

1. Inflation really isn’t licked, and everyone knows it. Everyone who’s been trying to buy a house, a car, or just go to a restaurant (see yesterday’s column)

2. The $35 trillion in national debt IS a huge effing problem. We can NEVER pay it back, and it will only be “resolved” through more extreme inflation.

3. Kamala Harris is further ahead in the polls than the media is letting on, and she has promised to double down on America’s debt disaster. (The reason the media isn’t giving Kamala props for her lead is that they don’t want a repeat of 2016, where lots of democrats got complacent and stayed home: student loan debtors, stoners, women wanting abortions, electric car fanboys)

Where do I stand? I don’t believe either Trump or Kamala has any deep thoughts about - or plans to fix - our debt addiction. This is a choice between two evils. Picking the lesser one still means outrageous pain and suffering for most of us.

Readers, please respond. Is gold going even higher? Tell us why or why not? Bitcoin fans are allowed to play too, although they should identify themselves and stop claiming that Bitcoin is the “solution” to gold and the US dollar. One look at the charts proves it isn't.

I’m NOT buying back my gold shares now, although I feel I’ve made a strategic mistake selling them earlier this year.

I’m just sayin’ . . .

Gold’s stratospheric rise signals disaster ahead for the world’s financial order