Loading ...Important Development ?
I admit it…I have been watching the POG ( Price of Gold) daily , sometimes tick by tick , for 20 years or so.
I was watching when the Washington Agreement spiked the price a huge % overnight back in the late 90s.
So what have I been watching for ?
Well….someday Gold needs to become THE Dominant Currency !
We can’t “pray” for a weak Dollar just so Gold can go up.
That’s NOT what we are here for.
We are here because we are the “chosen few ” who believe its the whole damn world wide monetary system that is in trouble after a debt orgy that makes Sodom and Gamorah look like a bible study club.
So….screw the”inverse co relation between the Dollar and Gold.
It’s Time for Gold to rise vs all fiat including the almighty dollar.
As a chart watcher…its hard not to like what we are seeing in Gold and Gold stocks for the last 6 months or so.
BUT the US Dollar also seems bullish …today it broke to new highs
But Gold does not feel like it usually does when this happens .
Is it FINALLY THAT TIME !
IS IT FINALLY HOWDY DOODY TIME ?
Fortunately there is a real time chart we can follow in this incredible age of ETFs and Stockcharts….to see whats going on here !
So which is the strongest currency right now ? Does it matter ? Does the Dollar have to weaken against a POS like the Euro for Gold to show its Mettle ?
Until Gold starts moving up when the Dollar Moves up we ain’t got nothin’
Lets see how Gold is doing lately vs other toilet paper
And now for a repost of the most bullish Gold Chart on the Planet
gold has been in hand with the Euro but lately separated and gold moving up whilst Euro on major support breach. Maybe it knows the big powers will not let it crash and is in anticipation of this or the Euro falls thru and gold gets or is getting the safety buy now…maybe the brexit fear,usd debt ceiling shutdown… seems more bad than good out there
Gold buying is still weak. Only so far its good looks and short covering will take it. The japan/aussie combo looks looks like it still want to put the death blow to gold. We’ll see how this consolidation works out.
Good ‘un, Fully. Ta.
I completely agree Fully. Relative strength is what really matters. FIAT currencies are jostling for position, but rotating around the plug hole. They will go down the drain one at a time. Gold is the ONLY currency that will survive.
Lately have been wrestling more with the question of which fiat currencies are best to hold than with issues surrounding gold. I’m US dollar based but now keep most of my fiat in commodity currencies (CAD, AUD), carry-trade currency(Yen), and Euro (the anti-US dollar)–with varying success. I probably would have done better just leaving it all in USD! So how about a poll of which crappy fiat currencies are best against each other as we all need to hold some.
You cant win that game Curly IMHO
You lose on the spreads and there is no real upside.
its an old debate and i am still not sure what the right answer is
but gold is not money or currency.it might have been
but not any more,and probably never again.it is still a store of value,
but then so are diamonds.it still retain some function as a monetary metal
for central banks but only a minor one.(this might change some day)
it is better to be invested in it without adopting false beliefs and hold unto
non valid ideas.
i still remember the late Richard Russel saying “gold will be the last man standing”
i dont endorse that view any more
I agree and disagree.
All fiat currencies will go to zero in turn and in time — strongly agree.
Gold will be the only currency to survive — STRONGLY DISAGREE. Its not a currency now and will not and can not be somehow resurrected as a full functioning currency. It will remain a store of value and its value will certainly increase as the current crop of fiats find their way to zero.
It may turn out that the US dollar will be the last one standing as far as the fiats go, but it too will go to zero. What I expect as a replacement for the fiat currencies will be a new breed of government-backed and/or multi-government-backed crypto currencies. Not Bitcoin which is also destined to achieve its true value. The new US-Cc and BRIC-Cc and EUR-Cc will be designed to support central governments, provide stability and security, hamper black markets, etc, etc … ie other government-friendly feature.
Love your rants, Fully!
“The new US-Cc and BRIC-Cc and EUR-Cc will be designed to support central governments, provide stability and security, hamper black markets, etc, etc … ie other government-friendly feature.”
That’s their plan, without a doubt.
But now there seems to be growing resistance to the expansive Huxley/Orwell State.
Will be interesting in the next recession whether the populace pulls out the pitchforks or instead meekly clamors for more bennies.
Its been said that rebellions emerge from a mere 10% of the citizenry, when they’ve had enough. In some parts, we’re already there.