Lone Ranger

Our viewpoints are not different. We both see inflation coming in the longer term. It is a matter of timing and investment perspective. I just can't bring myself to call what is happening deflation when more money is being put into the system. I prefer to describe what is happening as the effects of mispricing and the destruction of investments that should never have been made.

Most people in the investment world today think of a trade that is held for a month as long term. I like to find emerging long term trends and hold my position for many years.

I saw precious metals in about in about 2005 (I should have seen them earlier)

Then I established positions in the juniors shortly after that. Am I underwater? Absolutely. Am I worried? No, not really. The precious metals bull market is still in tact and the fundamentals behind it have gotten nothing but better and better as the governments increase the supply of what they call money into the system throughout the world.

I agree that we will experience what feels like deflation for some time yet, as housing prices continue to fall, jobs are lost, more credit fails etc. No question about that.

What I'm saying is that what is taking place now in the bigger picture is inflationary and that is where the long term trend lies. One can trade for deflation. One should invest with inflation in mind recognizing that the lowest prices may not yet be in. But to use the old Wall Street "saw," We're closer to the bottom than we are to a top in stocks like Tyhee.

P.