I place North in the same boat as Precter and Gartman. They only repeat stories of their success, but their failures are much greater and more frequent. Recall North and his predictions of Y2K doom. Lots of people lost a lot of money and were somewhat embarrased.

One only has to look at the platinium / paladium price cycles as driven by their use in cat converters to know that platinum is more than just a pm. Siilver fundamentals will be shaped by the expanding number of uses for silver for which there are no substitutes. Gold has only minor comercial uses. Each metal has its own story. Buttler's data backs his assertions.

Butler has done us all a service by offering his analysis and perspective for free. I thank him.