Price Action
- Thread starter Kooka30
- Start date
Yes 21 Million BTC.
But an infinite number of Crypto Currencies.
Only 2 precious metals. Gold for LARGE - Silver for SMALLER - Transactions
Periodic Table is NOT making new ELEMENTS
Comparing gold to BTC doesn't make sense. Even weirder is pricing everything in fiat. There will be a time we refer to it as "the old dollars".
I walked down to my local Fruit & Veg & he said " No internet & cash is shit "I walked down to my Local Fruit & Veg. He said, " Sorry the internet is down & we can't do any transactions "
I said, " Mate I have cash " he said " no problem, buy what u want "
Mmm, maybe there is something to be learned in that ?
I said mate, " I have some Silver coin "
He said, " Buy what u want "
Mmm, no BTC to be seen
I walked down to my Local Fruit & Veg. He said, " Sorry the internet is down & we can't do any transactions "
I said, " Mate I have cash " he said " no problem, buy what u want "
Mmm, maybe there is something to be learned in that ?
I love cash. I also tip people all the time, which doesn't have the same effect with a digital transaction (which I've never done). If we're forced to have a government issue currency then I'll choose the option that doesn't rely on a third party to transact. A 1:1 Gold or silver backed platform would be optimal if we were forced to go digital.
There has certainly been some " Price Action " in both Gold & Silver over the last few days.
Gold thru $3,500 & Silver breaking above $40 are both significant moves.
I'm expecting some volatility now as short sellers will be hurting & needing lower prices if they are trying to cover positions.
I always keep in the back of my mind is the " 4 Minute Mile ". Attempts to run the 4 minute go back to around 1770. On the 6th of may 1954 Roger Bannister ( UK ) broke thru to a sub 4 minute mile. Up until that day some doctors & scientist proclaim that it was physically impossible for a human to run fast enough to break the 4 minute mile barrier.
Yet just about 6 weeks later John Landy ( AUS ) also ran a sub 4 minute mile. Since then over 2000 athletes have run sub 4 minute miles. Once a " Red Line " has been crossed. That " Red Line " disappears & a new red line is set out in front.
Gold has crossed the $3,500 red line & I think the next true red line for Gold is $4,000.
Silver has crossed $40 but it's red line just above $50 + if Silver crosses that red line then triple digit Silver ( $100 + ) will be the true Red Line.
Just my opinion but I think we will see these " Red Lines " challenge by the years end
Gold thru $3,500 & Silver breaking above $40 are both significant moves.
I'm expecting some volatility now as short sellers will be hurting & needing lower prices if they are trying to cover positions.
I always keep in the back of my mind is the " 4 Minute Mile ". Attempts to run the 4 minute go back to around 1770. On the 6th of may 1954 Roger Bannister ( UK ) broke thru to a sub 4 minute mile. Up until that day some doctors & scientist proclaim that it was physically impossible for a human to run fast enough to break the 4 minute mile barrier.
Yet just about 6 weeks later John Landy ( AUS ) also ran a sub 4 minute mile. Since then over 2000 athletes have run sub 4 minute miles. Once a " Red Line " has been crossed. That " Red Line " disappears & a new red line is set out in front.
Gold has crossed the $3,500 red line & I think the next true red line for Gold is $4,000.
Silver has crossed $40 but it's red line just above $50 + if Silver crosses that red line then triple digit Silver ( $100 + ) will be the true Red Line.
Just my opinion but I think we will see these " Red Lines " challenge by the years end
Excellent analogy there. I'm still surprised about Gold's surge and the lack of a significant pullback. Sometimes that red line is crossed and never returned to; I'm pretty sure that's what we're seeing now with the metals. It very much feels like we'll have an entirely new monetary system before we'll see Gold at $2000 again.There has certainly been some " Price Action " in both Gold & Silver over the last few days.
Gold thru $3,500 & Silver breaking above $40 are both significant moves.
I'm expecting some volatility now as short sellers will be hurting & needing lower prices if they are trying to cover positions.
I always keep in the back of my mind is the " 4 Minute Mile ". Attempts to run the 4 minute go back to around 1770. On the 6th of may 1954 Roger Bannister ( UK ) broke thru to a sub 4 minute mile. Up until that day some doctors & scientist proclaim that it was physically impossible for a human to run fast enough to break the 4 minute mile barrier.
Yet just about 6 weeks later John Landy ( AUS ) also ran a sub 4 minute mile. Since then over 2000 athletes have run sub 4 minute miles. Once a " Red Line " has been crossed. That " Red Line " disappears & a new red line is set out in front.
Gold has crossed the $3,500 red line & I think the next true red line for Gold is $4,000.
Silver has crossed $40 but it's red line just above $50 + if Silver crosses that red line then triple digit Silver ( $100 + ) will be the true Red Line.
Just my opinion but I think we will see these " Red Lines " challenge by the years end
I totally agree ! It will take a new monetary system, the " RESET " to make any significant change in PM's prices.
The surprise might be the USA revaluing GOLD at a significant level above current market value as they make the attempt to " Spend their way out of Debt "
Yeah, hammered was a bit over the top given a good push would probably better.
It looks like it's bottomed & will start working back.
Just my opinion but I think the whole PM's dynamic has changed with Central Banks persistent Gold buying & Silver probably going onto the Critical Minerals list ( which it should given the fact that it's been in a Structural Deficit for 7 years ). These are actions that eventually people pick up the vibe on & that brings PM's back into the Big Game.
PM's have languished, overall, for Decades. The slow Death of Fiat Currencies has has brought PM's back into Play in the " BIG GAME "
If the FED lowers interest rates & cranks up serious money printing, a " CRISIS " ( which I think is already in the shadows ) will break somewhere, ( The Yields on long dated Bonds are stepping up in most Western Economies ) maybe the Bond market implodes, maybe a War breaks out.
I still remember that it was a currency Crisis in Thailand that kicked of the Global Financial Crisis that brought down the PHD Geniuses running LTCM
I have the time to sit back & watch the " GAMES PLAY OUT "
given a good push would probably better.It looks like it's bottomed & will start working back.
Just my opinion but I think the whole PM's dynamic has changed
with Central Banks persistent Gold buying & Silver probably going onto the Critical Minerals list ( which it should given the fact that it's been in a Structural Deficit for 7 years ). These are actions that eventually people pick up the vibe on & that brings PM's back into the Big Game.PM's have languished, overall, for Decades. The slow Death of Fiat Currencies has has brought PM's back into Play in the " BIG GAME "
If the FED lowers interest rates & cranks up serious money printing, a " CRISIS " ( which I think is already in the shadows ) will break somewhere, ( The Yields on long dated Bonds are stepping up in most Western Economies ) maybe the Bond market implodes, maybe a War breaks out.
I still remember that it was a currency Crisis in Thailand that kicked of the Global Financial Crisis that brought down the PHD Geniuses running LTCM
I have the time to sit back & watch the " GAMES PLAY OUT "
The stories just keep popping up that lend weight to reports that PM's now have a solid floor under then given Central Bank buying & listings as being Critical/Strategic
Poland wants gold to constitute 30% of reserves, central bank chief says:- Reuters
The stories just keep popping up that lend weight to reports that PM's now have a solid floor under then given Central Bank buying & listings as being Critical/Strategic
Poland wants gold to constitute 30% of reserves, central bank chief says:- Reuters
Considering all new Gold from mine supply and scrap metal refining is already being consumed, the only place they'll get it from is other nations and central banks. I doubt London even has a fraction of what they claim, and I bet fort Knox is bone dry. Unless Gold is monetised, there will be a point in the new monetary paradigm where Gold is sold off in great volume. There's no real shortage of Gold, just a shortage of available supply while the world scrambles to add to their reserves. It would seem we're all aware of the incoming and simultaneous hyperinflation of all currencies.
They'll never do that, they'd lose control of the ability to inflate the money supply.
I could work with digitized Gold/Silver at 1:1 on a Decimal system.
Eg, 1 gram of Gold:- $3550 per oz/31.1 = $114.15 per gram
I Milligram of Gold:- 1 gram/1000:- $114.15/1000 = $0.114 per milligram
The bill for your meal Sir is $25.50:- $25.50/0.114 = 223.68 milligrams
How would you like to pay Sir ? In milligrams ( actual Gold ) or Gold transfer Sir. ( u could do the same in Silver )
I will pay by Transfer from my Gold account. ( access account, transfer 223.68 milligrams to Restaurant Account, payment made )
Thank you Sir & Good evening to you.
Seems a bit cumbersome when u look at it like this. But once implemented it would quickly be just a normal tap & go Payment or Phone transfer.
Instead of " Dollars $ " u would just make payments in " milligrams/grams/ounces " & this would work anywhere around the world with a continuously update Gold price 24/7. The price would quickly stabilize & fluctuation would become very rare.
But WILL NEVER HAPPEN because it would mean Governments would loose the ability to " INFLATE " ( print fiat currency ) their currency.
You can't " Print " more Gold/Silver, so inflation as we know it now would be dead. Physical Gold increases at about 1.7% per year. So maybe an adjustment to price would be 1 - 2 times a year to account for actual Gold/Silver production.
1 world money = milligrams/grams/ounces of Gold or Silver. ( 99% of the time u wouldn't do physical, u would do Gold/Silver account transfer/payment )
Ahh, I can but DREAM
If u want to see " Actual Gold " use in payment at a grocery store the watch this YT vid from Mike Maloney.
At the 24 minute mark he shows an X post showing a Grocery store in Venezuela priced in Grams of Gold & payment made in " Physical Gold "
View: https://www.youtube.com/watch?v=INoWdAW0DMQ
At the 24 minute mark he shows an X post showing a Grocery store in Venezuela priced in Grams of Gold & payment made in " Physical Gold "
View: https://www.youtube.com/watch?v=INoWdAW0DMQ