I am merely a steward of information, a middle man of sorts, protector of the truth through transparency.
Gold, silver and bitcoins are all undergoing ‘generational tops,’ meaning they will never reach new highs during this era. If you are waiting for gold to eclipse $2,000 or silver $45, you will be waiting until the year 2035, if not longer.
Again, this isn’t my opinion, per se, but facts on the ground.
Precious metals should be avoided, like hookers in the south of bronx. Miners should be sold short, but not on gap down days. Sell the rips short and avoid the temptation of buying any dips–due to the severity of the erosion in the space.
As for bitcoins: they’re now trading $65-75, which is still $65-75 too expensive.
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The old school, David Dinkins in-his- white-tennis-shorts era, Hunts point hookers were really under- appreciated.
These new girls are to hookers what bitcoins are to currency.
Arrrrrgh! Right ye are matey – the ‘point’ Twas good fer auto parts too…
The good old Dinkins days.
Bold prediction, IMO. Don’t necessarily disagree, but isn’t this tantamount to betting against Uncle Ben? Are you saying we’re going the way of the Japanese?
I’ve been saying it for months.
yes, but… “in yen terms, gold is at all time highs”
-gartman
People have been going bankrupt investing in mines for centuries. This won’t be any different.
Could argue that eventually, as the mines go bankrupt and terminate one project after another, that it may actually support the prices of the underlying metals as supply shuts down. Maybe.
I dont understand the demise of gold/silver with ongoing QE and the relentless printing machine of Uncle Ben…thought that was good for gold/silver??
Because central banks can control the price of gold.
But they can’t control the supply of physical gold. If the prices are suppressed for too long, metals of the physical variety will not be available at the current prices.
Hi Fly,
Can you please briefly elaborate on how the Fed can do this?
Thanks!
Very simply, they sell into the market with enough volume to move the price down.
Where are they getting the gold to sell? Well you know the $6.5 billion stockpile of gold that was all over the news last year. Ok, it didn’t really make the front page. The $6.5 bil. in Libyan gold didn’t just disappear, maybe they’re using that – pure speculation. If so, that might last awhile.
Cyprus as well
They aren’t controlling the price per se; rather they are managing its trek higher. Wide spread acceptance of GOLD for investment or medium of exchange purposes must be prevented at any cost.
The strategy is to inflict maximum pain with huge spikes lower such as today – it’s all about giving GOLD a risky public perception, one with minimal upside, as a way to dissuade the majority for owning it.
The actual techniques are very technical but at a high level include things such as: naked short selling by the bullion banks, leasing gold into the open market (creating the perception of a supply that doesn’t really exists), and drumming up the main stream media propaganda machine.
Ultimately this is all noise that we must ignore –the signal is the left to right action seen on the long term chart. Even with fraudulent tools at their disposal, the FED can only control (mange) the price in the short term- fundamentals win in the long run. And the fundamentals for owning GOLD have never been stronger. When GOLD last topped out (early 80’s) the M3/GOLD ratio fell below 1; today we are far below that and actually close to historic lows, and never before has the FED been openly monetizing debt to the tune of 85B per month which makes owning GOLD a must!
please enlighten…detail??
You always must remember just how shitty 95% of mining companies are.
The top executives at nearly every fortune 500 company could switch industries and run another company just fine.
The same cannot be said for mining companies.
Is this Josh Brown or his parrot? There are a handful of decent mining execs out there, but they’re never going to take the really good claims public. The best gold claims are alluvial for a variety of reasons, and they’re cash cows that only a fool would sell to the public for the nothing multiple they command.
So it seems every media and blog outlet this side of ZH is declaring the death of gold, silver and now Bitcoin. Yet central banks the world over are reportedly purchasing tons of the phyzz. Weird. Fed is killing the dollar but that is no concern as long as the stock market inflates. Banks get theirs while the middle to low class descends into economic hell. An upstart currency threatens the status quo and the aristocratic money bags cheer its demise. Not surprising the elite find economic freedom to be at odds to their worship at the government trough. It will be interesting to watch how all this plays out over the next few years.
Stop with the Fed conspiracies and how you believe it will affect the dollar.
Gold will find value in 2020 as an industrial metal to build electronic components for space ships. In 2019, it will have appreciated 500% to $1000 (after remaining $200 / oz from 2014 – 2019, of course).
Demand for gold will surge, in 2019, bringing it past $3000 / oz, when finally, the great alchemist Vozzy Van Weaterchnuck learns to spin aluminum straw into gold… inspiring three movie studios to release their own modern version of Rumpelstiltsken.
The Gold Bugs have not realized yet that 0bama is Reagan on steroids. He has taken “trickle down” economics to a new level. The rich are now filthy rich and getting filthier.
No way a smart investor will stay out of the market and buy gold in this environment.
Big government advocates love consolidated wealth because it’s easier to keep track of and simpler to boss around
No one knows how to calculate a value certain for gold. It all depends on your opinion and view of the future. In that respect it is eerily similar to pussy.
Time to dig out the “tape reading skill” tweet from max keiser on bitcoin
dig it out of the crates.
major mkt disasters every 26 yrs + 2009 = 2035. Makes sense.
I think it has something to do with pi, some how.
only 4 letters DUST…. my trading port is up over 37% YTD powered by my love for gold 🙂
Tell your misinformed partner to avoid the forbidden fruit.
she is lost a bit… I probably send her a hundred of email warnings… hope she didn’t stepped into this … if European banks start selling gold can easily be back to 1K per oz… easily… of course only time can tell
in other news I am also short Putin via RUSS
That will never happen. The EU countries are each hording gold as a fail safe so they can split off if the need arises.
Thaler +1. Golds drop coincides with the 10 year yield rising. It’s going to have an inverse correlation to the s&p as long as risk on equals short the 10yr. China’s heavily involved in acquiring private pm mines in latam. Wouldnt be surprised to see some lbo activity in the space.
They can take away Max Keiser’s bitcoins, and they can also take away his ability to hock CRAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAP!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
someone play taps for me
Yeh Fly, I bought DSLV when you first started predicting the Silver slow-motion train wreck….I am a VERY happy camper. Thanks.
The Chinese have been developing a number of creative financial vehicles tied to hard commodities.
Perhaps we are seeing some of them tap out here.
Bitcoins are soooo yesterday. The hot trade is Buttcoins. http://buttcoin.org/