If you think we're hitting the peak, you haven't got a clue how wrong you actually are. Anyone dumping gold right now—unless they’re desperate for the cash—is going to be kicking themselves in a year or two...
Official figures claim—though I've seen the reality firsthand—that three tons of gold were exported from the US last year. God knows how much more slipped out the back door through other means.
Hey quiettrucker12, what kind of commodity is gold, really? Is it being consumed? No, most of it is just sitting there as jewelry or held as currency. It’s been used as money for thousands of years. The issue isn't that silver is theoretically manipulated; it's being manipulated in practice every single day, and the evidence is everywhere. Unless you actually believe it's normal to sell more silver than exists on the entire planet—selling short at the level of total annual production—but I guess the rules of physics don't apply to paper trading. What traders? What amateurs? In a world run by Citadel and algorithms, human traders are basically just statistical errors. That chart you posted just proves it wasn't people selling that silver, but computers (just look at that insane volume spike in such a tiny window). And you're missing the bigger picture. We're living through a complete shift in how "investing" works. It should be obvious that you don't stand a chance against machines; it takes literally one second to get wiped out. The final parabolic move? When the dollar and the euro hit zero, people will be scrambling to buy gold, silver, land, and guns, while trillions in paper and digital zeros become worthless overnight. 🙂 At the end of the day, the only thing that matters is knowing how to actually do something useful. 😉 I suspect traders (along with lawyers and managers) will be the first victims of natural selection. 🙂
Gold is money, whereas oil is just a commodity. Is that concept really that hard to wrap your head around? To put it simply: since modern currencies are printed out of thin air in practically limitless amounts, their value is basically negligible. But if you want to maintain the illusion that they actually mean something, you have to attack the one thing that reflects their true worth. Since you still don't get that gold is money, there's no point in me talking to you. Like I've said a thousand times, go educate yourself on why gold counts as money while oil doesn't. Silver didn't crash; the price was intentionally crushed. Who do you think dumped hundreds of millions of ounces back in late April and again in September? PHYSICAL silver? Nobody, obviously, because no one actually had it to sell. The paper price dictates the physical market, which is how you can dump hundreds of millions of paper ounces just to tank the price.
How do you not see that gold is the direct enemy of their fiat currencies and the only true measure of what things are actually worth? Of course they're shorting it; unlike fiat, they can't just print more gold with a few clicks of a mouse. It’s clear you still don't get that gold is money, not just some commodity. Unlike other "markets," precious metals rarely face real corrections when supply and demand actually shift. Please, enlighten me: what market logic explains a "correction" where value drops 5% in a matter of seconds? There isn't any.
Is gold just a metal? 🙂 And what about money over the last few millennia? 🙂 Irony aside, we’re nowhere near the kind of mania we saw with gold and silver—especially silver. It has nothing to do with real estate, either. Real estate was just your classic bubble where people thought they were geniuses buying homes way beyond their means, only to get crushed by interest rates (looking at you, Swiss Franc loans). Not to mention everyone assumed property values would just climb toward the stratosphere forever. 🙂 Even without major wars, oil prices climb, and if the Middle East catches fire again, we're all in trouble... One more thing: JPM has been struggling with shorts for a few months now. 😉 Last time they were in this much trouble was about a year ago when silver spiked toward $50... 🙂
As if a college degree actually matters in the casino business. You call it a trend; I call it manipulation. We've seen this exact "trend" play out before, and every single time, gold ends up hitting a new all-time high. Shorting gold right now feels like volunteering for the Bundeswehr in '45. 🙂
I don't know how many times I have to say this, but the money printing is already happening—the Fed swallowed up 60% of all US Treasuries last year. This year? It’ll probably be even more. The American economy won't survive theoretically without constant money printing—it's as simple as that. The fact that banks are just sitting on cash instead of actually investing it is a whole different problem.
Patrick Moore3 said:Hey, quiettrucker12, you still living in dreamland? Looks like that 3.89% growth over the last month totally blinded you after we spent an entire year sliding downhill. You really think one good month fixes everything? 😁
Honestly, when I see people blaming the Chinese for every price hike on NYMEX... then turning around and pointing the finger at greedy bankers every time things dip... makes you wonder if we’re all just looking at clouds. 😉
As usual, you're cherry-picking the timeframe that suits your narrative. 🙂 It doesn't matter; in a few years, this "crash" will look like nothing more than a minor speed bump compared to where we were at the peak. If you want to know why prices rise, blame the same crowd pumping stocks and gutting the global reserve currency along with their banking nonsense. 🙂