Well you know... It's the twilight zone, it's clown world
You're absolutely right, PM should go up, in theory, but that's forgetting a tad too fast that gold market is rigged, too
https://www.zerohedge.com/news/2016-12-08/deutsche-limplicates-other-banks-silver-gold-scandal
Guilty: Deutsche Bank Implicates UBS, HSBC, Scotia Bank and More
https://www.zerohedge.com/news/2017-04-11/bank-england-rigging-libor-%E2%80%93-gold-market-too
Bank of England implicated in LIBOR scandal by BBC
“We've had some very serious pressure from the UK government and the Bank of England about pushing our Libors lower.”
Precious Metals Manipulation Worse Than Libor Scandal, German Regulator Says
German Gold Manipulation Blowback Escalates: Deutsche Bank Exits Gold Price Fixing
Gold and Silver Prices Are Set In Libor-Like Daily Conference Calls Between a Handful of Big Banks
....
And why is that? Why was (and likely still is) the gold market manipulated to such extent?
Because gold, is the direct competitor to fiat, hence paper gold, so you can artificially lower the price of actual gold
...
So yeah, you're probably right, but the contrary is somehow just as valid... Clown world
Why are so called fundamentals irrelevant? Clown world
You have to factor clown world parameter, and for that, either you work within clown world factory, and you're in the know, OR, you look for the scandals that pop up here and there, to get a glimpse into clown world fabric, to have an idea of what's likely going on behind the curtain essentially
....
I'm not even sure there's an end to clown world funny money ponzy scheme. Frank Giustra is categorical, he says it will end. And maybe he's right, and theoritically he's right, and I beleive it will end too. Question is when though. Tomorrrow? Next Year? Next decade? Century?
I mean, that's digit floating in computers for the most part, it doesn't even have to be printed ultimately, that's one thing. The second thing is the stock market is a matter of national security, so there's no end in sight, they'll never give up on it. Third thing is the cleanest shirt in the dirty laundry basket. As long as the dollar remains the cleanest shirt, it's all good
That's my take on it
But yeah, if shit goes down the drain entirely, yeah, ultimately what he describes is likely to happen, that's realistic perspectives. And again, that's starting with a premise that this isn't going to turn full no tomorrow ww3, first... And then maybe there's no then. At least not as we know shits as they are.
Good info.
It does seem like it could go on forever. The market is making very little sense right now.
Another thing I was thinking. What countries did not print money to deal with covid? That could lead to a higher value down the road vs the dollar.
"could" but again you never know, everything has turned quite counter intuitive. For example, poor countries can't really go money printing, that's sort of banking "powerhouse" privilege... I mean if they do they go zimbabwe quite fast so they don't, and the majority of them have a currency pegged to the dollar, or any other major currency, so they are screwed
As far as I can tell, everybody is pretty much involved in money printing, from EU, to China, to US evidently. There are certainly are some exceptions
2 things;
1) Ghaddafi an saddam had one thing in common; both wanted to break away from the (petro) dollar
>According to more than a few observers, Gadhafi’s plan to quit selling Libyan oil in U.S. dollars — demanding payment instead in gold-backed “dinars” (a single African currency made from gold) — was the real cause. The regime, sitting on massive amounts of gold, estimated at close to 150 tons, was also pushing other African and Middle Eastern governments to follow suit.
https://www.rt.com/news/economy-oil-gold-libya/
http://content.time.com/time/magazine/article/0,9171,998512,00.html
>Europe's dream of promoting the euro as a competitor to the U.S. dollar may get a boost from SADDAM HUSSEIN. Iraq says that from now on, it wants payments for its oil in euros, despite the fact that the battered European currency unit, which used to be worth quite a bit more than $1, has dropped to about 82[cents]. Iraq says it will no longer accept dollars for oil because it does not want to deal "in the currency of the enemy."
...
Not sure if it was THE reason why they got the shaft.
What's for sure is that it was one of the many reasons they got the shaft, if not one of the major reasons, maybe the ultimate reason, on top of many others related to broader geopolitics issues
...
2) Watch what central banks DO
Who else is better aware of their own fuckeries than themselves? Last time I checked they ALL were pilling on gold
https://www.zerohedge.com/commodities/central-banks-add-more-gold-their-reserves
Again the comment section
Sorted by best:
...
Just Another Vietnam Vet 1 month ago (Edited)
Orwellian Secret Agreements..............too secret to even be known.
https://twitter.com/BullionStar/status/1249421980140482562
COMEX secures secrecy agreement with CFTC under FOIA not to release details to the public
of its market maker program for the new 400 oz gold futures contract hatched with LBMA,
because "Disclosure Would Likely Cause Competitive Harm to COMEX
...
Cognitive dissonance 1 month ago
So the central banks and various other 'authorities' were gas lighting us with regard to the value of the barbarous relic?
Imagine that.
...
Sorted by new:
ElTerco 1 month ago (Edited)
The logical thing for the Treasury to do is use its Fed printed money to buy all the gold, silver, platinum, and palladium in the world before the US goes bust. And hell, since we are communist now, buy all the shares and debt of the precious metal miners.
...
Sorted by worst
Trek1Man2One3 1 month ago
Look how Trump fucked up his country, foreign relations and virus response. I wouldn't want to be tied to THAT currency. Kudos to countries buying gold. America buys debt, the rest of the world buys gold...
...
lol tds...
PUB 1 month ago
SchiffGold - should have known. Blah, Blah. Blah, Blah - repeat the same ******** thousands upon thousands of times for well over a decade and be WRONG over and over and over again and again.
DOW soaring UP again today. DOW Record High by end of May if not earlier.
...
moman 1 month ago
Yup, you are correct DOW 100k, loaf of bread 500 bucks, its all good.
.................
We know money printing ALWAYS ends bad, it results in currency destruction ultimately, on that everybody agrees. So in the very end one needs to fallback to something everybody agrees has value, consensus, and that consensus historically is gold, hence why central banks are still buying the barbarous relic despite its nickname
Now, where not everybody agrees, again, is the timing, when the music stops. It will but when? As long as the music keeps playing it's still clown world...
(post is archived)