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Gold just broke 2k this morning. Not a bad run so far, 1250 to 2006 in 14 months or so.
Silver really popping lately too.
This train is just getting started.
The central banks maybe able to pump up asset prices by devaluing their fiat currencies, but gold is exposing the scam. M2 money supply is up 25% in last 12 months!
The Shop
Well when the inflation metric the fed uses strips out food, energy prices and really waters down housing price inflation then I guess you won't find any of that sweet inflation they're after.
Their under reporting of inflation is a nice cover though for an excuse to print trillions because "were not getting enough inflation"
Let me interpret for you
bond out = the fed will print the money
The guvment can guarantee you'll get your social security dollars. Although they cannot guarantee the purchasing power of those dollars, and it isn't looking good.
1. I see a ton of buzz on social media about it, with absolutely wild prices and predictions being thrown out without any basis to back them up. If you follow any trading pages you know that the bitcoin onslaught is relentless, and people have even gone so far as to just make up fake quotes from well known advisers to make the arguments more compelling. This just screams price manipulation to me, sucker the every day Joe into driving the price up with outlandish promises for a return, then when the price gets high enough the big players can bail and take massive profit.
2. There's talk of it taking over the US Dollar if the Fed drives us into hyperinflation like they're attempting to do, but I sure as hell can't see the government ever relinquishing control over our financial system. This, again, just screams bullshit to me. Also, I can't see most merchants accepting Bitcoin any time soon just because the price is so volatile, so it's somewhat of a store of value like gold at best.
At the same time though, there are some things that draw me to it:
1. Supply is limited, so only demand will drive the price at this point. The Fed can't fuck with it, they aren't making any more of it, what's out there is out there and that's all there is to it. There's very little left to mine at this point as I understand it.
2. Because there's a big push right now, and because it still hasn't reached it's record high yet since the last crash, could it still be early enough to jump in? Obviously this is a dangerous game and I'm expecting it to crash again, but if timed right I think there might be a lot of money still left to be made. Or, who knows, people might be so scared of the US Dollar now that this becomes a steady store of value in the future.
I don't know, I'm stumped on it, so if anyone has a compelling argument one way or the other I'd love to hear it.
Pit Row
Look at the so called dot com bubble circled in red.
This is a mega bubble from hell.
If you think any of these valuations are based on reality or is long term sustainable you're on drugs. Sure, trade this dog-shit market, but if you're a long term holder best of luck to you.
My daughter bought some bitcoin really early. I own litecoin, etherium and dodgecoin. I feel like if I put a small amount in all the crypto across the board its an easy gamble with little loss and huge possibilities. Maybe nothing happens and I lose a small amount or life could go the direction of crypto in the future. Easy gamble in my mind. I have made crazy money off the market in last couple weeks that I feel bad telling people about it. I flipped airlines and spac situations like Graf for a few weeks turning my junk drawer 12k account into 70k plus real quick. It seemed simple and when I had no doubt, I was right every time. I wish i risked way more. Been beating my Wells fargo guy by quite a bit. Lol
I thought i was a genius buying tesla at 200 or something and selling for about 260 lol. Fail
I actually just bought tesla again at 1500 and Apple too before split. My thoughts are if you wait till split it will skyrocket first thing that first day so buying at 1500 garunteed a lower split price. Makes perfect sense to me.
Junk drawer account means I only put money from selling a few random things after cleaning out my garage or attic etc.
Disclaimer: I am not a professional trader and anything I have posted is just opinion. Always do your own research and only trade money you can afford to lose.
The average in the auto industry is 15.
When will the inevitable "what was everyone thinking? how come no one saw this coming?"
Post a reply to: Market testing the lows from Oct