Why not just go long on miners that pay a dividend rather than an ETF that pays NOTHING? One thing it seems that you're immune to is that earning "ordinary income" rather than a long term capital gain is just fine. That tax considerations are of absolutely no value in your investing strategy. I suppose. Different strategies for different ages. The less money I give to this corrupt government, the better. We're collapsing in less than ten years anyway ala Venezuela.

The US$ is NOT overbought as long as we're raising interest rates faster than other G-7 countries. Respect the carry trade.

"On the flip side, and not surprisingly, I see various currencies signaling quite overbought, especially the euro and yen." What the hell? The yen is being sold for a reason and it's crashing against the dollar. Japan is reaching the end stages of unlimited printing and they've even begged the federal reserve to intervene to prevent their currency from collapsing. The yen is EXACTLY where we are going once we reverse the interest rate cycle (however long that might be).

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