Gold's Ascent and Some Landmarks to Help
I still don't think anyone knows what to make of gold yet. They have been beaten back for so long by the big banks that they don't trust this break out yet. I can't say that I blame them as the bulls were sure pounded. However, this is indeed looking like it has legs. As I type gold has hit a high of 1493 and looks ready to enter into the 1500 territory. From there it could easily hit the 1602 target I have shown.
I don't know where this is going. I don't feel that it is in another bull run but it could be. It seems to have some momentum. Possibly this is the global reset? I really don't know. I am playing it as if it is while at the same time preparing to exit if the price gets whacked again.
All I can tell you for sure is that someone wants gold to rise. Someone is NOT preventing it from doing this at the moment and someone is pushing it up. Plain and simple.
I never get too excited about anything and I am not sure you can hedge a financial meltdown again so even having gold is not exactly a sure bet to hedge your wealth.
Should you have some miners and some gold?
I think so. Obviously, I don't recommend that you back the truck up at this level. The time to do that was when it was trading at 275 versus what it is now. What I do recommend is that you hedge your bets on renegade inflation which devalues your money and makes the cost of living that much harder to handle. If this gets out of hand (and I am not saying it will) the Fed and other central banks will lose control of the inflation monster pretty quickly as the huge debt explodes. Deflation is still in the works but I think that with all the money they released the party might just be getting a little bit overdone. As Ray Dalio says, the next level of QE won't be to prop up the companies it will have to be more direct like putting money in the hands of the people who spend it. That is you and me.
In the interim. Buckle up as things get interesting. Cheers!
I don't know where this is going. I don't feel that it is in another bull run but it could be. It seems to have some momentum. Possibly this is the global reset? I really don't know. I am playing it as if it is while at the same time preparing to exit if the price gets whacked again.
All I can tell you for sure is that someone wants gold to rise. Someone is NOT preventing it from doing this at the moment and someone is pushing it up. Plain and simple.
I never get too excited about anything and I am not sure you can hedge a financial meltdown again so even having gold is not exactly a sure bet to hedge your wealth.
Should you have some miners and some gold?
I think so. Obviously, I don't recommend that you back the truck up at this level. The time to do that was when it was trading at 275 versus what it is now. What I do recommend is that you hedge your bets on renegade inflation which devalues your money and makes the cost of living that much harder to handle. If this gets out of hand (and I am not saying it will) the Fed and other central banks will lose control of the inflation monster pretty quickly as the huge debt explodes. Deflation is still in the works but I think that with all the money they released the party might just be getting a little bit overdone. As Ray Dalio says, the next level of QE won't be to prop up the companies it will have to be more direct like putting money in the hands of the people who spend it. That is you and me.
In the interim. Buckle up as things get interesting. Cheers!
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