Gold Is Garbage
Precious metals, my ass. For months on end, precious metals and their miners have been crumbling in spite of every possible advantage going their way (countless trillions of fiat being printed, raging inflation, and so forth). This entire sector looks like it’s simply going to keep melting away, while the 0’s and 1’s of crypto rage ever higher to lifetime highs on a nearly daily basis.
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Meanwhile, in Bitcoin-land…………..precious metals kooks look like total chumps:
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$GDXJ $GLD $SLV $BTC.X what, after 33 weeks you're seeing the light - throwing in the towel? Based on.. Buy [BTC] high.. Sell [GLD] low? Cue the BTM in GOLD... See this chart:
charts.stocktwits.com/.../original_309687447.png
Hey David - how about a credit and comment for that chart, my friend? simply cut 'n pasted my post lol - Going Dark
Who are you? This was your chart?
Yah; it is my chart.. I post on stocktwits under the handle "GoingDark"... in after thought I assume David just picked up the whole post as a post to share without considering the 'tip of the hat'.... so no harm.. who are you?
Just a fellow TM reader who actually liked the comment. Wanted to know the correct person to thank. So hat tip for you! @[David M. Goldstein](user:27680), thanks for sharing but it's courtesy to give credit.
Gold and silver ETFs are manipulated, whereas owning physical gold and silver in my literal possession are what I prefer to keep. While the government prints more money than ever, causing the purchasing power of it to decrease, I stay hedged with my gold and silver. I know that things eventually equilibrate, so the price stays pegged to its worth. Regarding bitcoin, I am not a holder of it. It seems to be its own "people's money", so whether or not it goes up or down is irrelevant. A finite amount of bitcoin with an unlimited and unprecedented amount of government spending means bitcoin will rise until the government stops, which I do not anticipate it doing (at least until the dollar fails).