The coming Gold crash

[mr-dead]

2 minutes ago, Wonger said:

Lets hope you continue posting that chart for updates until $385 by the end of 2021 

ill just take a leaf out your book and claim its just on its way to $10k

[KDave]

Just now, Wonger said:

Lets hope you continue posting that chart for updates until $385 by the end of 2021 

I can see the logic in your position, and as you have mentioned collapsing stocks on here as well, frozen trading accounts, etc - it seems to me you are expecting a deflationary collapse. 

Are you watching the dollar as an indicator? If so I would say if DXY goes above 100 we will see your systemic collapse prediction come to pass. As the FED has taken the foot off the QE, this is looking more likely by the day. Perhaps you are right. Part of me hopes so, for all the pain it will cause it will be worth it long term.

[Wonger]

1 minute ago, mr-dead said:

ill just take a leaf out your book and claim its just on its way to $10k

Until I ask you for a date, not the romantic kind!😁

[Wonger]

Just now, KDave said:

I can see the logic in your position, and as you have mentioned collapsing stocks on here as well, frozen trading accounts, etc - it seems to me you are expecting a deflationary collapse. 

Are you watching the dollar as an indicator? If so I would say if DXY goes above 100 we will see your systemic collapse prediction come to pass. As the FED has taken the foot off the QE, this is looking more likely by the day. Perhaps you are right. Part of me hopes so, for all the pain it will cause it will be worth it long term.

USD target 140 as ive already posted more than once

[Stacktastic]

19 minutes ago, Kman said:

I'd be surprised if we ever see under $1200 again

I concur. 

I think all PM will go up in the next few years, potentially to new highs as they are in a bull market & the currency printing is weakening its power. 
There is also a lot of uncertainty & there will probbaly be very high unemployment, leading to a potential house bubble crash.
This could last 5 or even 10 years, but I have a suspicion that this is all orchestrated, so anyone in the know could easily predict what's going to happen. 

It will eventually reset I recon but at a higher rate. That not to say that it wont go down drastically, but thats usb usual corrections, especially with silver. 

I can see £1,200, maybe £1000 gold prices at the end of this cycle, but I will reset to a higher rate or the rate its at at the moment after this recession/depression or at the £2,000 mark, if the government reset debt or bring in a digital currency to replace the knackered system they have at the moment. 

I personally think Silver will easily hit £50 in the next 2 years (£100 if its that bad), but it wont last long & then also reset at about £20-23 / oz. Again thats not to say it wont dip back to £12 again on a correction. Copper is behaving a lot more like a precious metal, so I think its already started. I might be Wong, but im more probbaly wight

There could be a crash in anything, but I feel if it went to £600 that would be because of something that is non predictable & cant be shown on any chart or prophesied.
EG governments decide to go back to the gold standard or adopt Bitcon or something.  

Edited July 24, 2020 by Stacktastic

[Wonger]

3 minutes ago, Stacktastic said:

I concur. 

I think all PM will go up in the next few years, potentially to new highs as they are in a bull market & the currency printing is weakening its power. 

It will eventually reset I recon but at a higher rate. That not to say that it wont go down drastically, but thats usb usual corrections, especially with silver. 

I can see £1,200, maybe £1000 gold prices but I will reset to a higher rate or the rate its at at the moment after this recession/depression. 
I personally think Silver will easily hit £50 in the next 2 years & then also reset at about £20-23 / oz. Again thats not to say it wont dip back to £12 again on a correction. 

If it went to £600 that would be because of something that is non predictable & cant be shown on any chart or prophesied. 

What if Debt Defaults drastically dwarf the Currency printing resulting in a drastic reduction of Currency supply?  

Edited July 24, 2020 by Wonger

[Wonger]

What if the UK Government stops furlough payments on Halloween? 😉 

[Stacktastic]

4 minutes ago, Wonger said:

What if Debt Defaults drastically dwarf the Currency printing resulting in a drastic reduction of Currency supply?  

I don't think much is actually being physically printed now, it seems like they are making up the numbers out of thin air. 
A sign they want to go to digital credit perhaps?

The banks have already said they want a reset in Davos recently. Lets face it they hold all the cards, with everything thats going on. 

---

Added 0 minutes later...

1 minute ago, Wonger said:

What if the UK Government stops furlough payments on Halloween? 😉 

It would be halloween everyday if that happens now especially for people in hospitality..

[Wonger]

1 minute ago, Stacktastic said:

I don't think much is actually being physically printed now, it seems like they are making up the numbers out of thin air. 
A sign they want to go to digital credit perhaps?

The banks have already said they want a reset in Davos recently. Lets face it they hold all the cards, with everything thats going on. 

Very good post, shame there is not more like this instead of childish nonsense!

[Wonger]

I have a figure of $285t of global debt, if I thought the CB's would QE $285t I would close out Gold shorts Immediately

[KDave]

33 minutes ago, Wonger said:

USD target 140 as ive already posted more than once

140? I think anything above 100 will lead to total collapse. Ironically for all the QE, there is a global dollar shortage.

[Goldmansacks]

Spot breaks $1900 for the first time since 2011..

[goluckystayhappy]

Another day and gold crashing the wong way.

Are we now not at the all time high in $ and £.

[mr-dead]

 

Edited July 24, 2020 by mr-dead

[Chorlton]

1 hour ago, Wonger said:

Lets hope you continue posting that chart for updates until $385 by the end of 2021 

Why not the end of 2030 🤠

[Goldhooked]

[Eco]

What people dont undertand is how quickly the crash will come. Its going to bottom very very quickly, over only a few days.

At least be sensible and if you are overly invested, cash out some of your position.

[SilverPirate007]

52 minutes ago, Eco said:

What people dont undertand is how quickly the crash will come. Its going to bottom very very quickly, over only a few days.

At least be sensible and if you are overly invested, cash out some of your position.

I think predicting the future of any asset is largely guess work.

buying the dips if and when they occur can only really happen if one has cash to hand, so holding/converting some is sensible.

Edited July 24, 2020 by SilverPirate007

[Roy]

OMG!

[SilverPirate007]

3 minutes ago, Roy said:

OMG!

Great insight, thanks 🙏 

[SilverPirate007]

Just now, Witcher said:

That is why I sold some silver... and still selling some.  
Now, both gold and silver could keep going up and never go down, and I would be okay with that. 
It's not that I took a loss on what I sold, and a cat has to eat too. 

I think your approach is eminently sensible. Cash will always be king despite the SHTF promoters. I think silver is going to go on a bull run from here but one can never be certain, I hold about 25% of my assets in cash just in case.

[SilverPirate007]

2 minutes ago, Witcher said:

I used to think that.  now... in truth, cash is merely fool's gold.  We can still obtain goods with cash... but for how long?
There is only a perception of value in cash.  Once that perception is removed, it will be just like any other failed world currency. 
Now, if cash were to be backed by gold like it originally was, then it would then be king of currency. 

If another country like China were to be bold and challenge... and prop their currency up by backing it with gold, then the US could be in deep... sheeeet. 
I don't think China would unless they made some weird rule as to not being able to exchange their currency for gold.  That would make their challenge pointless and worthless. 
It only works when one can exchange currency for something of value. 

I agree with you in many ways but much of what you say is theoretical and has been discussed endlessly by some on here. I just don’t see it ever happening. I may be wrong but it’s highly unlikely.

Edited July 24, 2020 by SilverPirate007

[mr-dead]

51 minutes ago, SilverPirate007 said:

I think your approach is eminently sensible. Cash will always be king despite the SHTF promoters. I think silver is going to go on a bull run from here but one can never be certain, I hold about 25% of my assets in cash just in case.

Not always,

Zimbabwe:

Germany:

 

We have a whole list here:

https://www.tripsavvy.com/worlds-most-worthless-currencies-4154597

 

Edited July 24, 2020 by mr-dead

[SilverPirate007]

5 minutes ago, mr-dead said:

Not always,

Zimbabwe:

Germany:

 

We have a whole list here:

https://www.tripsavvy.com/worlds-most-worthless-currencies-4154597

 

Indeed, I have worked in Zambia and travelled in Zimbabwe. We are a very different kettle of fish though! I understand you recently bought your home. Did you pay in cash or gold?

[mr-dead]

3 minutes ago, SilverPirate007 said:

Indeed, I have worked in Zambia and travelled in Zimbabwe. We are a very different kettle of fish though! I understand you recently bought your home. Did you pay in cash or gold?

not finalised yet, I used cash as a short term transfer medium after the gold increased in cash value by 40%