* The month of January came to an end, and it didn't play out the way most people believed it would

* Remember when the year began, everybody was optimistic on the U.S. dollar

* Remember I said that it was the most crowded trade

* It was just like gold the year before

* Everybody was convinced that now that Trump was President we were going to have all this fiscal stimulus

* The Fed was going to be tightening rates more aggressively

* The dollar had no place else to go but up;

* Everybody started the year long the dollar

* I just read that this was the worst January for the dollar in almost 30 years!

* For all the fanfare and the hype about Dow 20,000

* The Dow was only up about .5% in the month of January

* You would think that it was much higher than that

* And of course, measured in any other currency, the Dow was down quite a bit

* In fact, if you just look at our mutual funds

* To just give you an example of what's going on overseas

* First of all, our Gold Fund up 12% in the month of January

* But my International Value Fund was up 6.5% in the month of January

* That fund is the #1 fund on Morningstar so far in 2017

* It was also the #1 fund in its category of 400 or so for all of 2016

* And it's already the #1 fund for 2017

* But if you look at the returns that are being achieved internationally

* Investing outside the dollar

* Investing in gold stocks

* That's where all the money is being made

* It's not being made in the U.S. Stock Market

* In other currencies, it's actually, it's only up in dollars

* But it's down in terms of just about every other currency

* So you wouldn't know that from listening to the pundits

* Everybody is so excited about what's going on

* Again this is probably how it all started when George Bush came in

* People were still initially enthusiastic about what was going to happen

* But the honeymoon didn't last long


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