Chart Huggers Say “Gold To Bottom At $1820” (SPOILER: They Will Flip Flop All The Way To “Bottom At $1640”)

Like a fish out of water…

(by Half Dollar) There’s a reason the Flip Flopping Chart Huggers are always wrong.

There are lots of reasons, really.

Although I don’t really feel like explaining them today, but suffice it to say that I explained some of the reasons in December of 2021.

Now, I’m not saying gold is going into the $1600s, because everybody knows they don’t let ‘Ol Half Dollar near the computer, much less be part of the club, but for some reason, I’m just not feelin’ all of the low-to-mid $1800 gold calls.

That is to say, everyone and every thing has a price, of course, and I am just not motivated to buy gold at $1820, or at $1740, or even at $1680.

Like, I may be an idiot, but I’m not stupid!

Indeed, over the last couple of years, some of my excess US-branded fiat currency has been used for acquiring more platinum than gold:

Which is totally not buried in the backyard, you know.

Additionally, some of my excess ersatz dollars have been converted into real things of value, such as coffee, soap, canned beef & chicken, or some other type of legitimate portfolio diversifier that has actual utility in ways other investments do not, Wifey and I already own a decent amount of gold, or at least I think we do, in accordance with our own current, personal gold-to-silver ratio, and Christmas gifts of gold and other gold whatnots aside, I have been holding out to back up the truck for silver, so there’s that too.

In other words, It’s the substitution effect in action because the price of gold is just too darn high!

That’s not to say I won’t ever be buying gold again, however, because I will, only that in my opinion, there are better values than gold right now.

Furthermore, why in the heck are so many of the so-called Gold & Silver “Advocates” pushing that ridiculous “gold backed ruble” narrative so hard, anyway?

Meh.

Doesn’t matter.

What matters is the price of gold has been falling:

Of course it has.

I mean, how else are you going to take silver to the woodshed?

Ha!

Just kidding.

They take silver to the woodshed any time they want:

It’s kind of a “love/hate” thing, only, different.

Gamblers in the Rigged Casino only enable the manipulation of gold & silver as Gamblers in the Rigged Casino cannot fight the Beast.

The Beast cannot be fought.

Nope.

If you want to slay the Beast, there is only one thing that can be done.

Starve the Beast…