My stats show that the Desert Portfolio performed in-line with the PP during those times and that is the Portfolio I have been holding for the last few years.

Browne did say (I think in Fail-Safe Investing?) that an acceptable alternative to the PP was just t-bills. Better than putting it all on red. :D Harry said putting all your savings in T-bills was acceptable alternative to the PP for all of your savings? I will have to go back and read that again. ...

Like you, I don't feel anybody fully understands gold. This is all just conjecture. But that's part of it's allure and a great reason why it's such a potent diversifier. Harry Browne was MPT before MPT was a thing. I buy and hold gold mostly because of how well it compliments a portfolio of stocks ...

Schiff's problem is the same one that afflicts a lot of others. Ideologically based investing is dangerous. Schiff has drunk deep from the Austrian School's kool-aid and is a confirmed gold bug. Once upon a time I was there as well. But I've moved on. So have I and am much better for it. For those ...