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Silver Catching Gold's Cold?
Silver is now down around 6% on the week as it reverts back in line with Gold's recent weakness. Whether this is broad asset/collateral liquidation from AAPL holders or a reaction to the liquidity spigot being turned off is unclear but while we need 'weakness' in equities before the next printfest begins, its inevitability suggests buy-the-dip in PMs may be the play once again. Meanwhile, WTI just lost $105 as the Brent-WTI spread holds around $17 (upper end of recent range) as the USD pushes higher.
Chart: Bloomberg
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I train so hard sometimes that I keep training in my sleep.
1/10 oz gold coins
about 200 $ now..
pay the premium ..
"My Q is: If we get a bond/equity/RE collapse (i.e. Depression), then WHO WILL HAVE ANY MONEY around to pay $2000 an ounce for a gold coin???"
Good question brother-
It is not about 'selling the ounce' for the 2 thousand$$.
It is about having a store of value after a collapse
(I personally don't believe there will be any collapse, but anything could happen)
After a monetary collapse, which is a historical fact in places like Weimar Germany and recent Zimbabwe, (or Belarus!) anybody stuck holding a bunch of national currency of the country found that paper to be suddenly worth FARR FARR less, or nothing.
If you had a bunch of cows, or had farm land you had something of value because you and your family/friends would not starve while others did starve. Of course you also have to defend what you have because others want to steal it like mobs and government (same thing) So you better have guns too.
Now it you have gold, the farmer will accept gold/silver as money, and if you are the farmer you will ONLY accept gold (and silver of course) as money once the paper currency has collapsed. It is not about selling the ounce for the paper money, it is about having real hard money (gold/silver) while paper money is worthless or just becoming worth less and less every year/generation.
Did I mention I like Gold and Silver?
("italics" disaster why can't i just html?)
Silver has been tracking EURUSD in lock step almost.
EURUSD is heading down last few days, silver follows it down.
After seeing this lock step movement last six months, it's clear EURUSD and Ag are barometers of money printing sentiment. Whenever Eurozone believes ECB is gonna run the presses, both rise. Whenever Eurozone believes ECB is not gonna run the presses, both fall.
So both are purely speculative forex markets ignoring the underlying truth that Euro (and USD) are steadily weakening currencies, steadily losing value.
I no longer believe JPM is actively manipulating the silver market. Ag's near 100% correlation with EURUSD says otherwise.
Beep, beep, beep... (sound of the reTARD truck backing up at my dealer's shop). Buy some now, buy some more later (especially if they extend the sale to deeper discounts). Understand the game and play that system.
buying this gold dip
all the way down
with fiat dollars
which are basicaly worthless...
in hand ,physical gold...
3030 winchester and 300 rounds
Remington 870 special ops 12 gauge with 250 rounds of 00 and 100 bird
Bushmaster AR15 with 1000 rounds of 556
2 9mm glocks with 1000 rounds
I think thats a pretty good start and this does not include ny BIL's who are gun enthusiasts
My suspicion is that at some point, the Chinese figured out the paper PM market manipulations, and then arranged for their sovereign wealth funds to participate in the paper market takedowns, with two-fold purpose. First, to enable the purchase of physical gold and silver at lower prices by Chinese agents. And second, to magnify the proportions of the manipulation and make it more obvious, in order to embarrass and expose the western manipulators.