Posted 3/25/2020 17:32 (#8138289 - in reply to #8138162) Subject: RE: Gold H&S’s s top
Intesting call CF. Gold can be an odd duck sometimes; maybe more like a foggy mirror of various currencies. My thought is when the virus is pre-near peak done then stocks will be voraciously fomo bid so unload bars prior to.. But the counter point to that idea is worldwide helicopterish money. MMT is a false/flawed theory. Green ink and cotton are not in short supply. I'm going to do an experiment tommorow; throw 500 penny's on the ground outside the starbucks store; see what happens. Only 500 because I don't want to be fined for littering. Maybe an 'associate' will be assinged to mitigate the mess. Meanwhile 3 Bil people in the eastern world are lusting for the barbaric relic.
I have some gold in a 'coffee can' and I understand the shiny pet rock idea. Miners can dig it up ~$900, refiners get a cut too, so there is a relative leash on the price. We could see gold fall below the cost of production. Maybe if the world order invents a serious crypto, but a gold standord would be a whole lot simpler and real.