Bitcoin, Gold, Silver and Failure....
That is kind of strange title isn't it?
The three markets and failure. What the heck Marc?
Let's start with Gold. It is making a weekly triangle at the top of the move where it is staying above the resistance points of the past eight years which are now supports. I am not sure which way it will break but it sure looks up to me. Even if it breaks down I think that it will move up. It appears something is up with the precious metal. It is being allowed to float higher.
Why?
In all honesty, I really don't know other than maybe there is going to be a push towards a sound monetary policy related to the possibility of a new currency being released by the US government. Maybe a crypto back with gold?
You think?
Me either but something is certainly up. I think it is worth having even a small position to take advantage of the move or some bullion in your possession in the form of coins or bars. I am sort of like Buffet when it comes to the precious metal as I don't really believe it has much purpose other than the limit the actions of runaway central planners and politicians drunk on easy money. I would say that it is certainly needed at the moment.
I have been short Bitcoin from the 13500 area and am holding it for lower lows in the near future. I still don't see this as a store of value but for the time being it is over valued in my book and this makes it ripe for selling pressure.
Silver will follow gold. It is that simple. It is a much better buy at the moment than gold and it will go higher too if gold does. So I am long.
Now on to failure.
I see Elon Musk floating his companies on promises where most other companies would have been bankrupt by now. This sort of failure is not so good. It is the type of failure that you or I would never be allowed to enter into but somehow it is acceptable to everyone because Elon Musk is doing it. He created an online payment processor. Does this make him a genius?
I don't think so. However to the lending establishments it does. Please don't get me wrong I like what he is doing and I think that it is important but the risk of loss is incredible. Yes the risk of not doing anything is pretty high also.
The element of failure here is so great that it goes off the charts yet somehow he continues to find money. Like I mentioned long before this stage if it were you or me it simply wouldn't have been allowed to continue. I am not saying I could keep all of this in front of me like Elon but I am sure that there are a lot of equally smart people who have failed in their endeavor because they couldn't get the extra money to see it through.
Fair?
No. However this is what makes failure an interesting lesson. There are those that have great ideas and no money and those with money with no ideas. The problem we still have is who gets to determine who will prevail. Cheers!
The three markets and failure. What the heck Marc?
Let's start with Gold. It is making a weekly triangle at the top of the move where it is staying above the resistance points of the past eight years which are now supports. I am not sure which way it will break but it sure looks up to me. Even if it breaks down I think that it will move up. It appears something is up with the precious metal. It is being allowed to float higher.
Why?
In all honesty, I really don't know other than maybe there is going to be a push towards a sound monetary policy related to the possibility of a new currency being released by the US government. Maybe a crypto back with gold?
You think?
Me either but something is certainly up. I think it is worth having even a small position to take advantage of the move or some bullion in your possession in the form of coins or bars. I am sort of like Buffet when it comes to the precious metal as I don't really believe it has much purpose other than the limit the actions of runaway central planners and politicians drunk on easy money. I would say that it is certainly needed at the moment.
I have been short Bitcoin from the 13500 area and am holding it for lower lows in the near future. I still don't see this as a store of value but for the time being it is over valued in my book and this makes it ripe for selling pressure.
Silver will follow gold. It is that simple. It is a much better buy at the moment than gold and it will go higher too if gold does. So I am long.
Now on to failure.
I see Elon Musk floating his companies on promises where most other companies would have been bankrupt by now. This sort of failure is not so good. It is the type of failure that you or I would never be allowed to enter into but somehow it is acceptable to everyone because Elon Musk is doing it. He created an online payment processor. Does this make him a genius?
I don't think so. However to the lending establishments it does. Please don't get me wrong I like what he is doing and I think that it is important but the risk of loss is incredible. Yes the risk of not doing anything is pretty high also.
The element of failure here is so great that it goes off the charts yet somehow he continues to find money. Like I mentioned long before this stage if it were you or me it simply wouldn't have been allowed to continue. I am not saying I could keep all of this in front of me like Elon but I am sure that there are a lot of equally smart people who have failed in their endeavor because they couldn't get the extra money to see it through.
Fair?
No. However this is what makes failure an interesting lesson. There are those that have great ideas and no money and those with money with no ideas. The problem we still have is who gets to determine who will prevail. Cheers!
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