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The 200 day moving average acts like the pull of gravity on prices. The FRN$ is currently very expensive while gold, silver, platinum and palladium have presented great buying opportunities. As the fiat currency and precious metals reassert their positions based on the 200 day moving average it will power the next gold upleg higher.
The USD is posed for the next downleg which will help power gold’s explosive upleg dragging silver and platinum with it. FACTA will drive more demand for BitCoins. Those who took my advice to buy bitcoins last month are sitting on a 56% gain. For those who want to spend some bitcoins you can buy RunToGold and HowToVanish products with bitcoins. Good job!
Hopefully we will do as well with the precious metals in this next upleg.
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{ 2 comments… read them below or add one }
Didn’t you talk/write about this a LONG………… time ago?
Here’s Bill Gross of PIMCO in his Feb newsletter at the last paragraph.
Where does credit go when it dies? It goes back to where it came from. It delevers, it slows and inhibits economic growth, and it turns economic theory upside down, ultimately challenging the wisdom of policymakers. We’ll all be making this up as we go along for what may seem like an eternity. A 30-50 year virtuous cycle of credit expansion which has produced outsize paranormal returns for financial assets – bonds, stocks, real estate and commodities alike – is now delevering because of excessive “risk” and the “price” of money at the zero-bound. We are witnessing the death of abundance and the borning of austerity, for what may be a long, long time.
But those of us with PM’s are LOTS better off!
Jay, Sure sounds like my book, The Great Credit Contraction!