Weekly Update: Gold, Silver, Bitcoin – 05.12.2017 (TEST)

These posts are usually my most popular, so I was surprised when it was my least attended article in awhile when I put this up originally last week. This is a test to see if it had something to do with the network outages this past Friday.

Approximate spot prices

Gold: $1,230 per paper ounce
Silver: $16.40 per paper ounce
Bitcoin: $1,700 per coin

Another wild week is in the books! Bitcoin – and other cryptocurrencies – roared to new heights before coming back a bit, the precious metals found some footing, FBI director Comey found his services were no longer required, and a massive global malware hack attack took place. So where do we stand?

For all that happened, it still seems like we’re right where we were before: behind the 8-ball in the final stages of an obsolete institutional structure that is bankrupt across all angles. Will we get the hard landing that many have been shouting for? I’m not so sure. Plenty of things that should have happened turned out to pass without anything more than a murmur, but sooner or later something will happen that simply cannot be ignored.

The primary themes are still all present, but the shifting sands of geopolitics should get more volatile. Don’t expect that to be reflected in asset prices. Accumulate real wealth and – even more importantly – real knowledge. Think, read, write, and speak. Seek God. Be courageous in the face of dramatic evil.

The unveiling will continue.

Gold

The short term trend in gold has been lower recently because the precious metal needs to be suppressed in order for the current monetary paradigm to further overstay its welcome. I’m focused more on accumulating silver at this point as it is even more undervalued proportionately. Turmoil can strike in a moment, and it doesn’t take more than one decision for the price to become stratospheric. However, perhaps the current system hasn’t been milked for quite everything it’s worth just yet. Pay attention to economic development meetings coming out of China. Gold is about stability and the future monetary paradigm. The great transfer of wealth is coming, and gold is one of the most stable ways of participating in the inevitable.

Silver

There was some extra effort to compress the price of a paper ounce of silver as you can clearly tell by the ‘perfectly normal and natural’ 19 down days out of 20… Last week I put in a buy order because I couldn’t just sit by and let these criminals get away with this for any longer without taking advantage of this awesome opportunity. For those without professional backgrounds I recommend dollar cost averaging by buying a little at a time with some of your savings surplus on a regular basis. I’d say it won’t be long now until what we’ve been waiting for happens, but then again I have no idea if that’s actually the case. It seems increasingly likely that the unhinging is going to be rapid and violent, wiping out entire institutions in the process. Let’s pray that we get a new FBI Director who has the mandate and the mendacity to go after the criminal market riggers. It’s a good thing we serve a God who performs miracles: we need a few million of them right about now.

Bitcoin

I set a price alert for $1,850 and felt earlier this week like I wanted to piece out of 5% of my bitcoin position in front of the 2011 highs for gold, and I may have missed an opportunity to lock in some gains. I’m not troubled by it. My initial instinct is usually to sell too early, so I’ll prefer patience in this case. A pullback is certainly overdue after a 100% pop in the last six weeks, but with the recent explosion in all cryptocurrencies you’ll likely see big institutions rushing to buy the dip and load up after a flush. Bitcoin is not in a bubble yet because it is the real deal and if you ask everyone around you they won’t have a clue what you’re talking about. If you’re scalping profits then buy the multi-hundred dollar downmoves and sell the multi-hundred dollar upmoves. I’ll stick to holding a core position in a paper wallet offline for the longer term play. There is a real thesis here that’s worth having some exposure to if you’ve done the work to understand the technology and the potential. While we’ve seen a buying frenzy, we haven’t yet seen a buying panic. That’s when I’d scale down and likely buy some more silver (and perhaps a couple other cryptocurrencies for speculation) with the gains.

Conclusion

Do your homework. Don’t risk something you can’t afford to lose. Do avoid falling into ideological traps. Don’t believe what you are being told at face value. Do press in to God in this time. Ultimately what matters most is your spiritual capital.

Disclaimer: These are one amateur’s fallible opinions. Holding any asset is risky, so do your own research and make your own investment decisions.