Hang on folks, it’s time for another fattie of a fat pipe.
Commodities!
I have been a serious advocate for ‘hard assets’ for the past two decades. Some might under-interpret this to mean I am in favor of gold, silver, cows, land, water, and silver.
I am, indeed, in favor of all of those things and a hundred more besides. But I am also in favor of the hardest of all “assets,” which are skills and abilities.
So, the best interpretation of my stance for prospering during the coming decades is this: possession is ten-tenths of the law.
Not nine tenths – that’s so last century – but ten tenths.
If you have it and control it, then you own it. Everything else is a derivative and lesser proposition. Stocks, bonds, 401ks, brokerage accounts, and bank accounts are all examples of “not quite actually owning it.”
Almost, but not quite.
So, that means that perhaps, possibly, the time for commodities to shine is now upon us. Something I have been holding near and dear to my Crash Course sensibilities since even before that series was released in 2008.
Now, I am no longer alone:
Yes, that’s right, the major banks are finally starting to come around to my views. No worries, though, I did not lose much opportunity cost along the way.
It turns out that Harnett of BoA has come to his views through the same path of clear-eyed rationality that motivated my own views so many years ago:
Yep! It turns out that adding $600 billion of “fresh liquidity” in a year is a truly massive amount of fresh money poured into an already too-hot market.
So, here we are.
My view is that no matter how ‘bullish’ you are on minerals and real things coming out of the ground, you are not bullish enough.
by sketchypoodle 
