Clive Maund’s analysis of the charts is indicating that gold and silver are positioning for a BIG move upward:

Submitted by Streetwise:

GDX 10-Year Chart

We’ve had to wait 18 months for an opportunity as big as the one we saw late in 2015 to appear again in the Precious Metals sector. “Wait a minute”, I hear you say, “prices were generally lower back then at that low than they are now, so how can it be as big an opportunity, as leverage is reduced?”. Here are the reasons, one technical, the other fundamental. When prices rose out of the late 2015 low, which was the Head of the Head-and-Shoulders bottom shown to advantage on the 10-year chart for GDX (VanEck Vectors Gold Miners ETF) below, they were destined to retrace to mark out the Right Shoulder of the pattern, which is what now has most investors very negative towards the sector again.

This time they don’t have to—they can now rise out of this trough and proceed to break out upside from the entire pattern to embark on a mighty bull market. The fundamental reason is this: most investors have been taken in by the specious central bank talk about “normalizing interest rates” and scaling back their bloated balance sheets, but they haven’t got a cat in hell’s chance of doing this. Why? Because debt (and associated derivatives) has expanded to such gargantuan levels, that any attempt to bring it under control will send interest rates skyrocketing.

Because of this stark reality, they are left with only one option—to inflate the debt away by monetizing it, which means inflation. Once investors grasp the inevitability of this—and that this process will soon get underway with a vengeance—gold and silver will soar. That is what the charts that we are going to look at today are telling us, and it means that we may never see the bargains in the Precious Metals sector that are now available ever again—or at least not for a very long time.

The latest COTs are telling us that gold and silver have hit bottom, or are very close to having done so, and that the time to buy the sector is now. Before proceeding to look at them we will start by looking at the latest 10-year chart for GDX, a reliable PM stocks proxy, to see where we are on the market clock, where we are in the PM stock price cycle.

Our 10-year arithmetic chart for GDX shows a clear large Head-and-Shoulders bottom forming, with the price now in the process of completing the Right Shoulder trough of the pattern. Obviously, most would be investors in this sector either don’t know this pattern exists, or if they are aware of it, have written it off as a false H&S bottom, witness the rotten sentiment towards the sector, which is just what we want to see at this juncture. Indications that the pattern is genuine are provided by the strong volume on the rise out of the trough of the Head of the pattern, which we can expect to see again on the rise out of the Right Shoulder trough soon, and the outstandingly bullish COTs which we will soon look at.

The rotten sentiment towards the PM sector is amply illustrated by the latest Gold Miners Bullish Percent chart. At just under 18% bullish, it is a little above the levels seen before the sector rally early this year, and at about the same level seen before the big rally during the 1st half of 2016. This clearly points to a sizeable advance by the sector soon.

Next, we look at a 3-year chart for gold. At first sight this does not look very encouraging as it looks like there is room for gold to fall further to last December’s low, or further down to the December 2015 low, but of course, if gold is marking out a Head-and-Shoulders bottom in the manner of GDX, which it is, as can be seen on its 8-year chart in the last Gold Market update, then we would expect it to turn up from around where it is now. Now we will look at the latest COT to see why it is likely to.

On gold’s latest COT chart we can see how Large Spec long positions have shrunk dramatically over the past 6 weeks to a low level, and since the Large Specs are habitually wrong, this was almost a necessary prerequisite to a strong advance. The question we want to answer is “Have they dropped back enough now to lead to a reversal and the start of a major new uptrend?” The answer to that is yes, they probably have. For one thing, silver’s COT readings have already dropped back to their levels at the low of December 2015, which provides circumstantial evidence that gold’s readings do not need to drop back any further. Secondly, we would not expect gold’s COT readings at the Right Shoulder low to drop back as low as they were at the low of the Head of the pattern, because that was the low for the cycle and the end of the bear market. Current readings are therefore thought to be low enough to synchronize with a reversal.

Nevertheless, it is worth looking at the old gold COT chart for the period around the December 2015 low, which shows a rare and remarkable circumstance where Commercial short and Large Spec long positions had dropped back almost to zero – it doesn’t get more bullish than that for gold. While they may not be at zero now, they are getting close, close enough considering where we are in the cycle.

It is worth mentioning the cryptocurrency market briefly, because it has been siphoning off money, some of which might have otherwise been destined for the Precious Metals. This grotesque bubble is blowing apart right now, which should help the Precious Metals, and you may recall that we warned to steer clear of Bitcoin in the article Due to Popular Demand Maund DOES NOT cover Bitcoin posted within a day of its final peak. Frankly, it is hard to understand how anyone could prefer virtual money, which has a tendency to suddenly disappear like a mirage, to real money such as gold and silver.

Now we turn to silver, where we will see that despite weaker price action recently, COTs are even more bullish than those for gold. While silver looks considerably weaker than gold, as it has dropped back close to its December 2015 lows, which gold hasn’t (it is still quite some way above them), we should remember that it is normal for silver to underperform gold in the late stages of bear markets and early stages of bull markets. As we observed in the last Silver Market update, the spike down about a week ago on high volume looks like a final “capitulation.”

The latest silver COT chart reveals that Commercial short and Large Spec long positions have shrunk steadily in recent weeks back to levels that are now very low indeed. In fact they are at the same levels as in December 15, as you will see by looking at the earlier COT chart stacked beneath the latest one below – and we know what happened after that – there was a blistering PM sector stock rally that saw some stocks make huge percentage gains, like Coeur d’Alene (now named Coeur Mining Inc.) which rose more than 8-fold. Of course, we won’t see such big percentage gains this time round, at least not immediately, as we will be coming off a higher base, but we ought to later because the PM stocks sector indices should proceed to break out of the top of their respective Head-and-Shoulders bottom patterns to enter a major bull market growth phase.

Finally, we will take a quick look at the latest Silver Optix, or optimism chart, where we see that investors are at their most pessimistic towards the metal since the bottom of the bearmarket in 2015, just before a big sector rally. This obviously augurs well for the sector since the majority are always wrong.

With this gigantic opportunity staring us in the face, we will obviously be looking at a range of attractive Precious Metals stocks on the site very soon.

Clive Maund has been president of www.clivemaund.com, a successful resource sector website, since its inception in 2003. He has 30 years’ experience in technical analysis and has worked for banks, commodity brokers and stockbrokers in the City of London. He holds a Diploma in Technical Analysis from the UK Society of Technical Analysts.

  1. In my opinion, making data comparisons to January 2016 just before the big move up in gold/silver shares is not a good idea because it was not the general public or funds who moved the shares. It was two central banks (I believe Sweden and Norway) who each bought $1 billion worth of shares that moved the gold/silver share market in 2016. And when they stopped buying around July 2016 the gold/silver share market deflated.

    • Any one who trades miners saw the value in Jan 2016 and loaded, likewise Jan 2009.

      I don’t think the miners are as blown out as at those times, but the metals themselves don’t  seem like they can keep up their low price charade and their pretense of market normalcy  much longer

  2. Whenever silver goes down – which has happen a lot since 2011 thanks to the cabal manipulation – SD post articles like this saying silver is ready to explode. Now silver prices most likely will go down further over the next few months.

    • Your typical internet nonsense. Metals bounced because the “dumb” money started causing short term dollar weakness by moving into longs with the EUR/USD and GBP/USD crosses and shorting the USD/JPY cross. The hedge funds recently moved the price to 1259 which is right below the 1260 resistance level and then added their massive shorts riding price back down of gold thru the 1240 reversal level. At 1222 I commented that they are either going back to the 1240 level or back to the 1200 resistance level again depending on what currencies are doing. I also commented if we go down to 1200 look for a bounce. Price went to 1200 and what happened? Price bounced to again 1222 and again I commented the same. Price just recently went to 1239 again right below the 1240 reversal level. If the dumb money continues to flow causing dollar weakness we are going to move past the 1240 level back to again around the 1260 resistance levels. Above 1260 is the 1272 reversal level and above this is the 1300 resistance level where months ago the hedge funds were consistently moving price to and then adding their massive shorts.

      There is simply no “cartel” suppressing prices to instill dollar confidence as this is used by those who promote metals to justify to their clients why price are falling. It is the hedge funds who create price movement and not the bullion banks. The funds consistently bounce price from one reversal or resistance level to another depending on what currency traders are doing. They have been long on metals as this is their hedges for their long dollar positions in currencies always moving price up with short term dollar weakness to one of these levels and then waiting for traders in currencies to again create additional dollar strength and then adding their massive short riding price weakness back down who are already short to again one of these levels. They have been doing this over and over again. Not only are physical commodities hedged in futures but also other financial instruments like dollars. 2/3rds of the funds have been going long with the remaining going short as they believe that the dollar will weaken. The total nonsense promoted by Bill Murphy and others at GATTA that the speculators, (hedge funds), cannot continue to lose money and they will stop going long is total absurdity. He actually believes they are stupid. They have for over a year been making huge profits on their long dollar positions in currencies and also their shorts in futures. The futures are one giant hedging mechanism and when you buy or sell a contract you are not buying or selling the physical underlying asset but are buying a hedge whether long or short. For the commercials if price rises they let the hedges expire worthless and sell physical in other markets. If price falls they exercise their hedges for cash, still sell and still make money. This is the real reason why the majority of contracts are settled in cash. Forget about the “naked shorting” nonsense as this simply means in futures you are placing a trade without a corresponding hedge and you capital is exposed or naked. Professional commodity traders watch currency markets like a hawk while the stackers continue to jump in blindly believing that prices will continue to always rise and metals are divorced from the rest of the commodity pool. They are not!

      The hedge funds have been using Armstrong Economics computer models which track international capital flows.

      Demand for silver has slowed as international trade as slowed. 70 to 89% of demand is industrial, manufacturing and retail jewelry. Monetary demand has become too small to effect price and this demand can never offset the drop in the other sectors. Silver has simply moved from a monetary based metal to an industrial based commodity where low prices are needed. This is why the price will never rise significantly but only gradually with inflation.

    • “Your typical internet nonsense” “There is simply no “cartel” suppressing prices to instill dollar confidence as this is used by those who promote metals to justify to their clients why price are falling.”

      -please refer to http://www.gata.org

      “There are no markets, only government interventions” -Chris Powell, GATA

  3. Pay attention while I put on my GURU Hat. The DOW is going to 40K because Central Banking is in charge. Gold/Silver are going no-where because Central Banks are in charge. Futures contracts will be hedged multiples higher than they are now. Why; because Central Banks are in charge. I’m stacking for my children’s inheritance now. I will never see 200+ Silver. Not in my lifetime. My kids might in 30 years. YAY.

    • I hate to say it but believe you are correct.  What’s required is a pump’d up DOW otherwise we will have non-ending pension funds melting down.  Even with the DOW at over 20,000 many pensions are in trouble can you image what would happen if it went down to 15,000 for any period of time?  Nope it’s DOW to the Moon.  DOW 30,000 then 40,000 then 50,000..

      Also, they will do everything possible to keep real estate prices inflated.  Same theory that it’s funding state, county and city govt’s employees and pension funds.  It cannot deflate but instead to da’ moon or at a minimum stagnate to match inflation.

      They will continue to hammer the metals and rig inflation rates to keep the illusion that all is well.  No reason they can’t do this for another decade or two with the occasional hiccup every couple of years.

      Come hell or high water I don’t believe the metals are going anywhere outside some black swan which is entirely unpredicatable and could possibly never happen.

    • “I’m stacking for my children’s inheritance now. I will never see 200+ Silver. Not in my lifetime. My kids might in 30 years. YAY.”

      Difficult to see… always in motion the future is“.  –  Yoda

      But I agree that the odds do not favor immediate gratification of one’s financial fantasies involving either silver or gold.  Still, that does not mean that we should not collect some as part of our wealth.  Consider them as our, “Oh, crap!” insurance and a hedge against inflation.  Doing something incredibly stupid is not out of the realm of possibility, where both governments and central banks are involved, so it would be wise to have some PMs are part of our Plan B approach to our finances.  If something really unexpected happens and my stack is of benefit, OK then;  it was worthwhile to stack it.  If not but my kids or grand kids benefit from my stack, that is OK too.  I’m not doing this for praise or any kind of vindication.  What others think of my stack or me stacking is of no concern to me.  Likewise, they are free to stack or not as they see fit.  All that should be asked of either of us is that we make our choices and then live with their results like men… and not go all snowflakey on everyone near us.

       

    • f16hoser & PowerBall 

      I believe you both are correct. The fraud & manipulation that I had hoped would end when Trump was elected will continue & I see no future in the metals when they are so rigged & manipulated that nothing is done to stop it. Time to move on to greener pastures.

      .

       

  4. There is absolutely no question in my mind that currently we are seeing more than an extreme level of manipulation in order to maintain a failing system. If you notice the velocity of money it is not looking good . There are many people who do not have money or if they do they are not spending. I do not think this ponzi scheme will last ten years more. Something will give and it may well be a black swan. We are due for one. The world financial system is cracked. The powers that be are using smoking mirrors and sleight of hands to keep this game going. How long? I dont know. But the markets looked to me as being fake to maintain public confidence. Everything is upside down from where it should be in a stable financial system. Many good financial analysts say later this year or in 2018  there may be a financial reset. If it does occur it will be more than sudden. Friday may look questionable. But Monday morning the banks will be closed and the markets halted. Janet Yellen says that we will never see a problem in the markets  in our lifetime. Does she know something that I don’t ? Does the Fed have a magic trick that I don’t know? In any event I have heard that before. Keep your fingers crossed….. and keep stack’in.

    • “Janet Yellen says that we will never see a problem in the markets  in our lifetime.”

      I took this comment in the very same way as when Ben Bernanke said, “Now is a good time to buy a house” back in the summer of 2007.  Very shortly thereafter, the bottom fell out of the US housing market.  Fed chiefs often use jawboning as a way to implement policy and make market changes without doing so directly.

       

    • @Ed_B – @Dr. Goldgfinger

       

      Yellen was completely out to lunch on the 2007 – 2008 debacle. I just finished Danielle DiMartino’s book, FED UP: An Insiders Take on Why the Fed is Bad for America…an excellent look at how self absorbed and myopic the vast majority of inbred (MIT, Harvard, Yale, etc.) Fed people are.

       

      https://www.amazon.com/s/ref=nb_sb_ss_c_2_14?url=search-alias%3Dstripbooks&field-keywords=danielle+dimartino&sprefix=danielle+dimar%2Caps%2C287&crid=11G1XSNR4T0IU

    • “Yellen was completely out to lunch on the 2007 – 2008 debacle. I just finished Danielle DiMartino’s book, FED UP: An Insiders Take on Why the Fed is Bad for America…an excellent look at how self absorbed and myopic the vast majority of inbred (MIT, Harvard, Yale, etc.) Fed people are.”

      Obama appointees tend to have that in common with each other.  One could add a dash of narcissism to the mix to complete it.

      The US Gov and people need to have a serious talk about just what it is that makes the Fed worth keeping around.  It certainly is not improved employment or the purchasing power of the US$ since both of those have pretty much sucked since the Fed came to be.

      The US did quite well from 1813 to 1913 without the Fed.  There were a couple of attempts to establish central banks in the 1800s but neither survived… thankfully.  It always bothers me when people meet in secret and then bend the rules to bring in something that has no constitutional basis, isn’t wanted by We the People, and has to be named something that it is not to get past the US congress.

      Maybe we should transfer the national debt to the Fed’s balance sheet and then end the Fed?  😉

       

  5. I don’t like miners. I prefer the fizz. I know.  I’m only going to make a 12 bagger plus in the next bull run while you guys make multiples of that. Poor me. I don’t invest in miners like you don’t throw your money at mint state barber coins. We can’t have everything in common around here.

  6. We’re lucky.  You know that?  Imagine having to fight the hundred years war.  I wouldn’t want to be in that fighting hole with some of you whiners.  Those guys had to give up life and limb.  What have we had to do?  Break a sweat sometimes.  You’re in a currency war.  Why don’t you conduct yourselves as such?

  7. Well we are now heading into the buying time of the year for physical PMs so now would be a good time to get in.  Unfortunately I am fairly broke right now, despite being – no because – I am owed much fiat and must continue to “invest in this debt” until much legal stuff happens, if it happens.  So effrustrating.  Still, maybe I will be able to buy next year when we hit $80/toz?  It will not of course feel quite so good.

  8. I notice the Crypto-crowd has gone underground (under a rock maybe?).  Bitcoin down from $3100 to just over $1800 in the last 5 weeks (down over 40%).   Amazing.  Where are you Cryptogeeks?  Oh where oh where can you be? Don’t be shy now.  Come out come out wherever you are.  Olly Olly Oxen Free.  C’mon, I want to hear some more big talk from you guys.  Thrill us with your acumen.

    Sorry Ag stackers.  Didn’t mean to get off topic, but I just couldn’t resist.

    • BTC today is over $2300 not $1800.

      Let ANY market run like the cryptos have [to the upside] and tell me how long it would take for them to cool down. The reality is that the cryptos run up and down very fast. Trading them is a lot easier than most markets and is a great way to earn currency for today. Then take this currency and invest in tangibles.

      Now let me ask… How  MANY YEARS have YOU waited for silver to do anything other than a little move here and a little move there.

      Keep in mind that this is coming from a family who has EVERYTHING invested in silver. All I see is NOTHING but LOWER prices. The cryptos, if charted are easy to make money from.

    • @sam520

      Oh yeah… it’s so easy making money trading cryptos… all you need to do is have a chart!

      I remember hearing this type of BS from day traders in 1999 and people buying Beanie Babies in 1996.

      Thank goodness you have it all figured out!

    • Wow Sam520.  So now you’re only 25% down for the last 5 weeks.  But I know, PMs suck.

      BTW – my BTC price quote was from an article on the 17th, or yesterday, which was totally accurate.
      15 to 20% daily swings in cryptos.  Yet PMs are risky and manipulated, while cryptos aren’t.  Tell you
      what Skippy, with the amount of gold and silver I own, a simple $1 raise in silver price, and $20 raise
      in gold price, I’m up over 10 large.  And I know, that works both ways.  That’s life.  But at least I’m
      stacking for cheap, instead of emptying my savings to buy a Bitcoin.

  9. My retirement annuity , specified as “low risk managed fund” took a 50% haircut in 2001/2 three months after opening it. The excuse given was well, its invested in the stock exchange, so….? The funds came from taxed pensions from 1993 onwards.

    At 1993,  gold was (in South African rands)  around 1020 an ounce,  silver  360 per Kg.

    Right now,  gold is 16018 and silver 6750 per Kg; work out those percentages if you wish but it beats inflation.

    OK, I am not the sharpest tool in the shed… but history is certainly telling me something!

    And I KNOW that the physical Ag and Au  I have bought over the last few years are beyond any bank or govt control, assuming “midnight gardening”. Just wish I could have started stacking sooner.  The PM’s are inflaton hedges and insurance, as well as a digitus impudicus to the govt and bankers.

  10. Black swan will be finacial, ind states going bankrupt,  ex Illinois, Connecticut,  heavy in state pensions which have gone up to da moon. California succeeding from the US, being quite friendly with China…moonbeam governor brown leading the state to its death. Liberalism is a mental disorder!

    Stacking the silver shiny phyzz one troy ounce at a time.

    • I keep tellin’ you guys that we oughta sell Calif to Mexico while it is still worth something… ring the register and cash it out for Mexican silver and oil.  All those sanctuary city folks will be right at home once Mexico takes them over.  Oh, wait a sec!  Mexico does not allow any BS like that in their country.  One look at the Mexican immigration laws, which are posted online in English, tells us that.

       

  11. I was introduced to Clive Maund’s analysis in 2012 by a work friend who was subscribed to his “service”. At the time silver was at $32. His analysis was bullish as I was tempted into the wonderful world of silver investment.

    I watched as silver dropped into the 20s and he continued to be bullish. When it fell into the teens I gave up listening to what he had to say.

     

     

    • This is the price of allowing others to do our thinking for us instead of doing our own due diligence.  While there are some excellent reasons for putting PART of our wealth into PMs, it is definitely not an all or nothing scenario.  Listening to free advice usually pays off the same way… as in free advice is generally worth what we pay for it.

      It isn’t glamorous or sexy but the best way to buy PMs is to buy regularly in small amounts over time.  There is rarely ever a good reason for rushing into an investment.  Anyone telling us to “Hurry and buy” is almost always in the business of selling what they are promoting.  This is like the carnival barkers who are yelling, “Step right up, ladies and gents!  Get your tickets here!  Hurry, hurry hurry!”.

      By setting a goal of how much silver or gold we wish to buy, a time period over which we will buy it, and then buying it over that time, the wild PM price gyrations are dampened considerably.  This dollar cost averaging (DCA) technique means that we end up with a decent stack over time at a good average price that is neither the highest nor the lowest but is a fair price.  It also means that our cost per oz. is biased towards the lower prices, where our fixed dollar buy amounts purchase more ounces than when prices are higher.

      Going “all in” with any investment is almost always a bad idea because the fact is, we are all fallible human beings.  No matter how great an investment looks to us, we COULD be wrong about it and lose a large amount of our money.  This is why DCA and another technique called Asset Allocation are necessary for successful investing.

      In Asset Allocation (AA), we divide our money into several asset classes in which we plan to invest.  For example, the following classes can be used: 1) stocks; 2) bonds; 3) cash and cash equivalents; 4) real estate; and 5) commodities.  It is this 5th asset class that contains things like gold, silver, oil, and food (grains, edible oils, sugar, coffee, etc. and fiber items, such as cotton and wool.

      Those who jump into investing without learning a lot about how to do it and in what to invest seldom get their desired results.  This is usually topped off by blaming their difficulty on someone else who “told me to buy PMs”.  Buying investments based on what someone else thinks about them is not usually successful.  We need to have our own thoughts clear on why we are investing, what we expect to get out of our investments, how much we are willing to pay for them, how much of our money will go into each of them, and what is our plan for selling them.  All of this in combination forms our wealth plan.  Investing without a complete wealth plan is just asking for trouble.

      Realistic expectations are also worth developing.  Most of the people I know who could be called “rich” got that way over decades and due to a lot of hard work.  It did not happen quickly or painlessly.  Anyone getting into PMs or other investments in order to get rich quickly WILL be disappointed in the vast majority of cases.

      Anyone interested in investing must first learn about investing.  Anyone not willing to spend the time reading and learning about investing needs to find a skilled and trustworthy fee-only planner who can help them with these issues.  This is not an easy task but it is a necessary one for those who want to invest but who can’t or won’t do the necessary grunt work on their own.

       

  12. @micha All paper currencies, bonds, stocks, and govenments are all about trust. Ask yourself, whats the most trustworthy in the long term? Those paper promises underwritten by the best govenment that lobbyists can buy, the best auditors that a CEO can buy, or something physical that you have in your possesion? Sure, its possible that PM’s can get a moon shot, also possible that the paper could. But whats more likely, what do you trust?  If you are looking at flipping for short term gain yes I’d say PM’s are risky. Long term is something else, check my earlier post.

    Gold 16x gain, Silver 18x gain since 1992, and the neither the banks or governments can grab what they don’t control. That control will be a huge issue when (not if) the SHTF.  Just my 10cents opinion.

    • @Alan

       

      “Just my 10cents opinion.”

      IMO, common sense like this is worth WAY more than 10 cents.  If more people thought like this, there would be far fewer people complaining about how poorly their PM investments have done.

       

    • The paper prices are up and down like a bad girls Undies, but the real Stackers of real wealth are not concerned because we know what this Game is all about.

       

      There was a great book written with just that title, ‘The International Money Game’ by  Robert Z. Aliber.  

       

      A GGL search will get you onto that book.               _JLG.  

  13. The LAST chance to buy PMs will happen when they are sooooooo LOW you will be afraid to buy them. TPTB will drive the price to as close to zero as they can and then they will default on COMEX and break the ability to price PMs.

    So PLEASE stop giving us propaganda! Silver is NOT going up anytime soon.

    When you fear buying silver at such a ridiculous price – that will be your last call.

    • When more and more people talk like this, it tells me the bottom was put in.

      Way more upside potential in silver right now than Ponzi coins.  Many will be scammed with all the new ones popping up.

    • Never going to zero or even near zero.  At minimum, my dimes, quarters, halves, and silver dollars
      are worth face value (Canadian Silver Mapes worth $5.)  What’s the face value of a Bitcoin?  A couple
      of cents worth of metal in it.  And when the Bitcoin exchanges go tits up, have the rug yanked out
      from under them via internet blackouts or hacks, and when the banks (vis a vis governments) outlaw
      them because they’re the ransomware “CURRENCY OF CHOICE”, let me know how much food or
      ammo you’ll get in trade for one.  Keyword being “CURRENCY which is exactly what Cryptos are.
      And worth on face value about what a Federal Reserve Note is worth, which is down 98% over the
      last century since the Fed was started.  My little pre-65 quarters are worth 1177% more than the face
      value.  So are my dimes and halves, and that’s just for starters. Wow, I’m so butt-hurt.

       

       

    • @GuitarDan: While you sit and moan and rub your hurting butt – just know you don’t have to put all of your money in cyrptos. Do like me and trade them. I refuse to gamble with any money. I simply trade for a few hours until I have made $500 a day. Then I walk away from it. This money is nice to live on and beats watching my silver yo-yo. So quit whining.

    • @GuitarDan

       

      “What’s the face value of a Bitcoin?  A couple of cents worth of metal in it.”

      Not even that, Dan.  Bitcoin is a digital currency, so it’s not even worth the paper it’s not printed on.  😉

      But it is more than a little humorous to see all those pictures of a “Bitcoin”, looking for all the world like a physical gold coin with the big “B” on it with two vertical lines through it, just as if it was a $ symbol.

      I’m thinking that bitcoin and the myriad other crypto-currencies are like financial icebergs with a little showing above the surface and a lot hidden below the surface.  My natural inclination is to not trust that which is hidden from plain view.  Makes me wonder just WHY more is hidden than revealed.  History shows us that this is how skulduggery works much of the time… in the shadows.

       

  14. They are about the same because of the squeezing of the dollar and it’s worth less now than it was last year so $16 today is $15 last year. We are all being deceived and robbed fellows and I was not an A student in math.

    • Deceit and theft are not about math.  They are about character.  Some of us have it and some don’t.  Problems result when those who have it get involved with those who do not have it.

       

  15. If Chris Powell is correct that there are no markets anymore, only interventions, then charts can only be trusted to show where you have been, not where are going.

    “the stackers continue to jump in blindly believing that prices will continue to always rise and metals are divorced from the rest of the commodity pool. They are not!”

    Right.  PMs are not autonomous outside the sphere of economic activity.  They depend on money, land, labor and the laws of government to function just like everything else.  It’s the law part that seems to be missing lately.  The manipulators and law breakers admit guilt, pay a fine then go about their business.  A small fry might get thrown in the clink once in awhile but the big cheese always gets away.

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