Neither A Higher Gold Gear Nor Pre-election Fear Has Yet To Appear

 

Gold's primary upside driver is currency Debasement, further enhanced by the other of the 3Ds: Debt and Derivatives. Thus axiomatically, Gold's primary downside driver is shrinkage of same. We don't see that happening anytime soon. Indeed, fading Gold's 5,000-year pricing uptrend would be a bad idea.

Yet since Nixon's nixing of the Gold Standard back in '71, more short-lived events driven by fear, the unknown, and the unconscionable manipulative entity, have spiked the Gold price, after which it generally reverts from whence it came. To wit, the looming stateside election (November 3) ought well be a classic case, after which we'll know "The Name of the Game"--[ABBA, '77] for either further economic gain or private sector drain.

Whilst no one "knows" the election outcomes, be they at the Executive or Legislative levels, (with the structure of the Judicial level hanging in the balance), the rash of mainstream consensus again already "knows" that which it "knew" four years ago: that a Big Blue Wave is to consume America (except that the color turned out instead as Red).

But this time around were Team Blue to really come through, it would be as wonderful a Gold Positive as for which one could ask. Indeed so much so, the above Scoreboard's Gold value of 3567 could arrive ever so fast. And yet, with just over two weeks until Election Day, in the markets neither a higher Gold gear nor pre-election fear has yet to appear.

It's  a bit odd to be sure. Team Blue are the masters of swaying public opinion as sourced through the highest levels of respected media, feeding upon those emotive, and driving polling favorably-heavy to their side. Team Red on the other hand looks to be sourced through what it deems as common sense vessels, relying upon those composed, and their ultimate vindication of truth via the voting booth.

Again no one "knows": Team Blue's win is already in the polls; Team Red's win is already in the markets. Were it the other way around, Gold would by now have soared and the stock market by now have been floored. So apolitically, given the market is never wrong, it senses status quo as forward we go.

Of course with time still on the table, as the old San Francisco Examiner's (afternoon newspaper) advertising billboard used to say: "A lot can happen between 9 & 5". Moreover, at the end of the day, it must be said that both Teams Blue and Red are good for Gold. Enhanced by the impacts of COVID management and Team Red in charge these past four years, the currency's been severely Debased, the rate of Debt extension significantly increased, and Derivatives run so amok that trying to cash in can find one stuck in their muck.

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