Read on Twitter
Figured I’d make a post on #Gold as a hedge to coincide with my #crypto post. This is the GLD etf (not gonna use the XAU since it looks so similar) I’m also going to include this link as a reference of what’s to come for goldbugs. Before the financial
https://www.consumeraffairs.com/news/gold-prices-are-up-and-so-are-the-gold-commercials-101515.html
https://www.consumeraffairs.com/news/gold-prices-are-up-and-so-are-the-gold-commercials-101515.html
2) crisis of 2008, I personally never recalled gold/silver commercials being on TV much, it was only until AFTER the collapse did they start appearing, my chart shows that period of the run and collapse following in 2011. In my opinion and based on anecdotal evidence of the past
3) Gold and silver are actually very excellent shorts right now. If we look at the most recent peak of gold on a bullish RSI (80-40) you’ll see that gold peaked at 83 in July, rewind the clock to 2011 and the gold RSI peaked at about 79 before coming down and collapsing. Why is
4) this important? Because this type of cycle to me symbolizes how the narrative shifts back on to retail to believe they’ll be safe investing in the dinosaur known as precious metals. The article above describes what everyone should note who is in PM’s as the “euphoric” stage
5) this led to a massive FOMO from the senior community to rush to this “safe haven” in the fears that the financial system would collapse again and given that fear was such a hot commodity back then after the 2nd worst crisis in history, of course they fell for it.
6) Coming into today, we see that gold already peaked. The commercials are already starting back up on every network that panders to an aging community in the hopes that they buy up worthless metals being sold by banks and lose when the fear fades. My advice? Don’t bother with
7) with PM’s. The only real safe haven is cryptocurrency at this point. Why? Because you can’t price in the new digital economy and that is why many of the altcoins/Bitcoin are seeing monster moves. Getting into a good and stable crypto (Ethereum, Chainlink, Bitcoin) is the only
8) real hedge you can have right now.
