I've said it a thousand times already: the price of physical gold and paper gold is eventually going to decouple. That’s a given. When the value of that paper hits zero, what happens to the millions of people who think they own gold, but really just hold a worthless scrap of paper or some digital entry? Just because US law makes it impossible for regular citizens to protect their purchasing power by buying precious metals doesn't mean the law is right. It’s the exact opposite. Are you going to pay for a CBS subscription just because you have a radio in your car? I know I won't. And why would I even bother buying it here in the States? 🙂
quiettrucker12, when I say physical gold, I mean the kind you can actually hold in your hands, not some digital number sitting in a bank account somewhere. If you can't reach out and touch it, what's the point? It might as well not even exist.
$1500? That’s just a number on a screen. You aren't going to find any actual physical gold for $1500 anymore. 🙂 Besides, you can always try selling your physical stash to me at the spot price whenever you feel like it. 😁 And don't kid yourself about who you're trading with; when bots handle over three-quarters of the volume on the NYSE, you're basically just playing against algorithms. 🙂
That’s exactly why I walked away from trading five years ago. 😉 Back then, you could still trade with some sense, but today? It’s nothing more than a glorified casino. 🙂
Speaking of silver, we're in a delivery month, so don't be surprised if prices take another dip tomorrow. Just another way to shake out the weak hands, right? 🙂
Look, I’m not trying to be rude, but anyone can claim "it’s going up this much" or "it’s dropping that far." What actually matters is that technical analysis is useless when you're dealing with the precious metals market. You might as well throw your charts out the window. What's the point of staring at old data and trying to predict the future based on what's already happened? It’s basically just reading tea leaves or pulling tarot cards. Especially in a low-volume, manipulated market like silver—where price action often has nothing to do with actual supply and demand. When you have millions of shorted ounces and massive margin hikes hitting the tape, how is a line on a graph supposed to help you? Did you somehow know the correction was coming from $1,920 down to $1,520? Sorry, but I don't think anyone saw that coming, not even BlackRock or Ben Bernanke 🙂 If Ben Bernanke is so irrelevant, then why are they constantly suppressing the price? It’s hard to argue he doesn't matter when he serves as the ultimate indicator for a dying dollar and the inevitable burst of the massive US Treasury bubble.
Anthony Evans78, how many times are you going to flip-flop? 🙂 I know it's tough to swallow, but you have to realize that TA in the PM market is about as useful as a screen door on a submarine.
Just once and for all, so my colleagues and I don't have to keep repeating ourselves over and over...☕ http://goldsilver.com/news/casey-res...old-speaks-up/
The wildest scenarios actually came true. I never claimed I believed they would, just that they were possible. It’s always the banks getting rescued while regular people sink into crushing poverty. Printing money just delays the inevitable and makes the eventual crash hurt even more.
Technical analysis is basically a joke at this point in a world built on manipulation, theft, and lies. The dollar, along with every other fiat currency, is a zombie; it’s just a matter of when it finally bites. Precious metals are the only thing with real value—everything else is just an illusion. Word on the street is that Wall Street is prepping for a "formal" Greek bankruptcy on March 23rd, right after the markets close for the weekend. It's the same old playbook: drop the bombshell on a Friday, let the chaos simmer over the weekend, and watch the madness unfold in the casinos—sorry, the stock exchanges—across the globe on Monday. If we look at what happened in Argentina, Greece is likely headed for bank closures and withdrawal limits. That's the reward you get for trusting corrupt institutions with your money. Rating agencies are the absolute peak of nepotism and hypocrisy; even thinking about them makes me sick. And let's be honest, the USA isn't even the world's largest economy, unless you count financial sorcery that produces zero actual value as "growth." Gold can't even go down when the USA, the European Union, the Japanese people, and the UK have all started their printing presses. It might see some corrections, but in this environment, the upward trend is inevitable.
Warren Buffett is nothing more than a parasite and a textbook example of crony capitalism. For the last thirty years, he’s just been padding his pockets through ventures that were either subsidized or bailed out by the US government, if not others globally. Not to mention those massive stock dumps he pulled right before companies went belly up.
Ben is an idiot, and everything he just said is either a lie or complete nonsense. And this statement about gold? It’s the absolute height of narrow-mindedness.
The Central Bank isn't meant to bail out insolvent banks by printing money, at least that wasn't my take on things. But if you actually believe that's their purpose, then that's your problem 🙂