Loading ...Sell Your Gold – A Correction Looms
I don’t think I have to go into too much detail today since the chart is self explanatory. We are at the top of the price range for gold. Its time for a pullback and a waiting period before the next phase of its move gets going. The wait will be more than a year and possibly as much as two so try to forget gold in the interim and think about something else. What you want now is to raise cash and in particular US Dollars since they are going to strengthen even as gold deflates.
Side note on Judy Shelton with Taggart (she was nominated to Fed in T 1.0 but couldn’t get confirmation)
https://www.youtube.com/watch?v=1wm2CC5K1AI 80 min but very thoughtful and measured
‘t-u’ to skip the ads.
Sell my gold??? Sell the foundation on which all the rest of my wealth has been built and supported by??? That would be insanity! Or do you mean sell my “fools gold”??? My paper, or digital, contract, ETF, backed by nothing “fools gold”??? That might be okay, but NEVER will I sell the physical foundation of all the rest of my wealth and assets…..and when the dust clears from whatever impending crash your chart sees may be coming, I will still have the same number of physical gold (and silver) ounces as I have now. I won’t have lost a single ounce, and the rest of my assets will have always been safe too. WWW
And what will you do if gold breaks below the support line of this pattern? Are you ready for that? Try to think iof gold as another commodity and it will be easier to lighten up into a decline as you get ready for the resumption of the rise. Or not. Lol…I have never changed any mind on this site about gold even with the best charts I am able to draw. But I keep trying anyway!
Nothing wrong with your chart Mr Farmer. That is how I would draw it if I still charted, but I won this game in 2011 when I called the gold top at $1928, $4 to high, cashed out several thousand shares from 108 PM miners and explorers I had accumulated, and being a dual citizen paid double capital gains taxes to both US and Canada… and been living on O.P.M.(Other Peoples Money) ever since. Additionally I have been buying both gold and silver phyz from $330 and $5.50 respectively, so it would take a pretty severe monetary catastrophe for me to consider selling any of it. IMO the place to be is completely out of debt, well diversified, among neighbors/friends you can trust, have a couple years groceries/staples and the means to grow more, have sufficient cash on hand, and be proficient with your weapons to protect and defend what you have. I’m not seeing any winners come out of this mess, so the one who survives and loses the least, IMO wins. WWW