Loading ...My Opinion: Don’t Hold Silver Anything…
Breakouts are breakouts until they prove otherwise. One can’t just claim false breakouts are definitively false because they go against their theory.
Reality check:
USD has broken UP.
Gold has broken UP.
Gold miners have broken UP.
Gold:Silver ratio has broken UP.
Silver has broken DOWN.
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GOLD:SILVER Ratio Monthly:
GOLD:SILVER Ratio Monthly Zoomed In:
SILVER Monthly:
SILVER Monthly zoomed:
What do I now think will happen from the charts?
-I think the dollar will zoom up as the rest of the world crumbles and the United States becomes one of the last financial refuges for the world where people pour money into our economy raising our bonds and stocks higher than imaginable.
-I think commodities other than gold will fall tremendously as global demand wanes.
-I think gold will go up but the move will be muted and not as impressive in the US Dollar because of the dollars’ major climb coming.
-I think silver is going to go down like oil, copper, etc.
-I think the significance of the Gold:Silver ratio having this MAJOR breakout up means something significant is coming. I think it means silver is going to act as a commodity and not as money.
Gold and Cryptocurrencies going forward are going to be seen as money in my opinion but not silver.
There will be no mad max scenarios where people are buying cans of corn with silver coins. The world will get bad but civility and government money will survive. Government money will be gold backed crypto currencies after the dust settles is my opinion… Confidence in currencies will die, and they’ll have to gold back them to retain people’s confidence.
I will invest in U.S. stock markets and maybe a gold miner or two with a small amount for the next few years but I will avoid silver.
Good luck going forward. Everything above is my opinion. Thank you.
I just returned from the future in my time machine and everything Chuck said is spot on. One word of advice for Chuck, avoid Manny’s TexMex outside Baltimore. Three months from now you eat there and almost die from rat-induced Bubonic plague. 🙂
In all seriousness the USD will be the prettiest girl at the ugly girl dance. Look at this…IMF In/Outflows and ‘illegal money’ report is called the “Net errors and omissions (BoP, current US$)” report which this site mapped that data. It tells an interesting story, notice China (leaving) v US (entering).
https://www.indexmundi.com/facts/indicators/BN.KAC.EOMS.CD
As a side note I wonder if the Panama papers type of (illegal activity) money, hidden money in offshore trusts and whatnot will become an issue over the next few years due to a 1)a search for taxes by bankrupt govts and 2)crackdown on crime.
🙂
I’ll avoid Baltimore! Thanks for the heads up! 🙂
The silver miners do not agree with you. They should be withering. They are not.
I agree with North. Although it is a bounce today, and may go a little lower, silver is the place to be (and uranium eventually). Price charts don’t fully show this transparency and can be confusing.
I am now very convinced that Mike Oliver’s MSA metrics are superior measurement approaches to price chart analysis. Mike Oliver has been spot on since December 2016 (actually before then) w.r.t. gold/silver/miners. His momentum structural analysis leads price (it did again in December 2018 for gold/miners). Nevertheless, silver just broke out of a long-term 3-year flat overhead structure on his long-term quarterly momentum oscillator a few weeks ago — this is big. Even though silver retraced much of those gains yesterday, it will likely just be noise on his momentum charts. I’m excited to see his report this weekend.
Also, interestingly, he now sees the same set up in commodities … listen here: https://www.youtube.com/watch?v=UjsnqSsFB98. I think we may have commodity inflation soon.
And the general markets have the opposite momentum structure sitting beneath it, if that goes, it’s all over … see here: https://www.realvision.com/the-biggest-trade-of-the-century
afasilver, I agree with you on yellow cake. Uranium has many reasons that it’ll start taking including the failed green movement which they are finally realizing the technology, the batteries/storage technology and the tech in general isn’t yet ready for prime time. We’ll need more nuke plants. In fact the greenies are no longer saying nuclear is bad but OK (not a full endorsement but no longer a full rejection).
We’ll have to see if silver can invalidate its major breakdown on the monthly chart. So far it has not.