I guess I'm interpreting him a bit different than you. Granted there is one hell of a lot of hyperbole & filler contained in his letter however there are 2 great points with which I agree.

1. 30 year US treasuries at 2.6% is not a place to invest & by extension I would go short.

2. The price of gold will continue to outperform almost all other areas of the mkt. By extension gold & silver stocks will outperform the prices of gold & silver