Bull and bear markets have been with us throughout history. Bubbles are a natural result of events. Bob took the price of gold in senior currency terms from the 1700's on and there's regular pattern. Gold runs up in price, using a relative strength index and the gold to silver ratio. The real price of gold represents profitability of the gold miners. In 2011 the gold bear hit. It based and now it has broken out of the range. The real price turns up and then it's off to the races for the mining sector. We're in the early stages of a major golden bull, with minor interruptions. It's the one sector in a post bubble recession that will do well. Inverted yield curve means a recession is on the way, always!