Gold Mauls The Dollar & Silver Stocks Soar

The year 2020 was a solid year for gold, silver, and associated miners. The juniors were particularly impressive.

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important weekly gold chart

It should be clear that the traditional Chinese New Year gold price rally is officially underway.     

Investors who focused on my key buy zones of $1450, $1566, and $1788 for gold (and 21,700 and 18,3000 for the Dow) did incredibly well… and 2021 is already off to a phenomenal start!

Note the buy signal that is almost occurring now, on my 5,15 moving average series. 

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ominous dollar vs. gold chart

 A bear wedge meltdown is in play. Before the damage gets worse, dollar bugs would be wise to close out positions and get into gold.

Fiat currencies have an unlimited supply, and the main backbone of that money is government debt and income tax extortion. Simply put, fiat has no real spine.

We all need some fiat because the government makes sure everything we buy is priced in it, but this type of money really serves no purpose other than to empower the government. 

Electronic gold money with a tiny transaction fee could replace the current model of income tax revenue generation for the government. That would generate more revenue than income tax does, while dramatically reducing rampant government “thugsterism”. 

A global launch of electronic gold money would probably see gold trade at a higher price than bitcoin.

That launch won’t be happening though, because the nature of government is to endlessly brag about itself while using heavy-handed actions that create far more problems than solutions.

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Mainstream analysts are pouring into the market. They sound more like fans at a sporting event than analysts, which is a concern. 

The bottom line is that it is not too late to get involved with bitcoin, but rather than listening to the silly cheerleaders who bought nothing in the sub $1000 price zone, the buying needs to be done professionally. That means using the big support and resistance zones on my weekly charts.

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