Most of last week, while on holiday, I was parted from my internet connection and had no idea what was happening to my portfolio. I was perfectly happy. Since I got back and saw what was going on I've been more than a little p*ssed off. Why?

Having thought about things I'm starting to realise that I'm really no worse off that I was a month ago. I've still got my ounces, got my shares in quality PM stocks that don't need to raise capital, still getting my dividends from my Canadian energy trusts. The only thing that changed is the value of my portfolio if I had to liquidate it on Monday morning which thankfully I don't.

As I still believe very strongly that we are heading down the inflation track all I've got to be upset about is a bad entry point and as Eric King is fond of saying "if you make a bad entry point the Bull Market will rescue you".

I can scarely believe the amounts of paper that are being injected into the system, it really is staggering and perhaps this weekend we will see something of an even greater magnitude. I can't see any sign that Western governments are ready to passively allow a depression to take hold. They will keep trying, and keep printing, until they get a positive response.

The insiders get hold of the money first and it will go to hard assets because they know what is coming next. Then the public gets on board and we have a mania. I still believe it will happen and we're in the right place. So take heart, pull your SOB jackets on and dig in for the long haul.