B. I was surprised by the Bear market comments , I cant remember his reasoning if he gave any , I know bears like Tim Wood are saying the rally may have more to go but still part of a bigger bear. I’d have to say there is no evidence or confirmation that this is the case , he must be guessing that the reflation will work and that nominal highs are possible along side 4 digit gold?

Here is another line in the sand , the gold silver ratio breaking above 54 nailed the markets last year , if the G/S ratio gets below 54 and stays there I’ll dump the deflation idea ,cant be any fairer then that ;-)