First there was Brown’s Bottom, now we have Morneau’s Miscue

Gold has resumed it’s secular bull market. This is something I have not been alone in anticipating, but it looks like Mr. Morneau has managed to pick off the exact end of the cyclical bear, selling just as the price of gold, driven by negative rates, impending bans on cash and generalized financial repression, is commencing lift off.

First there was Brown’s Bottom, now we have Morneau’s Miscue