In this report I look at the technical picture in the silver and gold market and I also talk about central bankers and their fight against crypto currencies.
How Central Banks Intend To Fight CryptoCurrencies: http://www.zerohedge.com/news/2017-06-22/how-central-banks-intend-fight-cryptocurrencies
Thanks maneco64.Yet again an informative post thank you for you high quality content. Your insights are much appreciated.
@dogfried You are welcome. Thanks.
The gold chart looks good even with the failed 6 year downtrend breakout. I think silver is already leading the way as it broke the 6 year down trend a while ago. Once gold confidently breaks that we should see fireworks. Any time in the next 3 months in my view.
@unclehermit Good points.
Spot on as always! Patiently waiting on silver!
I'm not ready to give up my silver.
But, I'm not betting on silver shooting to the moon!
It's merely an insurance policy for my family and to keep my assets out of the banksters.
PS:
That zerohedge report may be deceived, the central banks intend to implement FinTech - which means rolling out blockchain national currencies and biometrics bank cards (debit/credit card)...
I've written about the banks' cashless society plans a few times
I totally agree with you...and im doing the same
@hisilverstacker have you noticed this:
steemit may become the "gateway drug" for non-cryptocurrency users to start using cryptocurrencies?
That is the case for me, I may never have made the effort to get a cryptocurrency "wallet" on the blockchain if not for steemit! LOL 😃
100% agree with the reasons for cryptos being favored.... free markets for free peoples. ;)
Lets put some steem in that silver train :)
I read that artikle on Zero Hedge and seems to me they are getting nervous about cryptos and that is a good sign so lets spread the crypto wisdom and get more people involded and take those CB's out.
People who are into cryptos will never use a crypto currency brought by a central bank.
Like you said its organic and they cannot kill a movement/idea.
this is my goal here on steem it...hopefully I can jump on it as well lol
Since the cryptos took off silver seems to have died a death.. I sell a few coins and the sales have gone through the floor
Maybe when silver is at its most unloved point it will have a major move up
I hope it gets going soon. There must come a point where such low silver prices start putting mining companies out of business. Unless of course they are actually selling silver above spot.
Following charts is pointless we all know ag au are going nowhere until the collapse of the banks buy and hold for insurance
+agibsonallan In 2011 gold traded to $1921 and banks were not collapsing. Actually at the height of the 2008 gold dropped from $1031 in March to a low of $682 in October.
The world was in a different place then and it's been all downhill for au ag since 2011 .yes I am a big fan of au ag but only as a saviour of your wealth . On the plus side it's been great for buying for that rainy day so buy and hold time to play in the alt coins market
You make an excellent point about the central banks either pull the plug or the market collapses from lost trust and failing economies. However, I enjoy the snapshot of what the charts show 😃
I took your advice on setting up a wirex account and was impressed how easy it was , a great addition if your in the uk as it is just a pain trying to add or get any money back from coinbase
Yes. Very convenient.
Silver is good to preserve wealth, but damn, waiting on JP Morgan to stop rigging the market can mean one can be 467 years old before the undervalued asset realises its potential. Crypto? One word, Yes.
Ordered mine today today too. My wife is a little skeptical about cryptos and so I'm planning on taking her to buy a new dishwasher with my wirex card when it comes.
Asset types Gold\Silver and Crypto seem to be stagnant at present. It feels as if Crypto is stabilised so waiting for the next surge. I think it will be up. Might be good to put in a few low price buy orders for your cryptos. GDAX flash crashed ethereum 2 days ago and 1 very lucky person got 336 eth at .10 cent and then then went start back up to 300 dollars. I am sure that person is enjoying the champagne... I put in a few at 10% of their current value just in case these flash crashes were to repeat. Here is the text "Ethereum crashed from $319 to 10 cents in seconds on one exchange after 'multimillion dollar' trade Ethereum crashed from $319 to 10 cents in seconds on one exchange after 'multimillion dollar' trade
Thursday, 22 Jun 2017 | 9:12 AM ET | 00:44
The price of ethereum crashed as low as 10 cents from around $319 in about a second on the GDAX cryptocurrency exchange on Wednesday, a move that is being blamed on a "multimillion dollar market sell" order.
Ethereum is an alternative digital currency to bitcoin and had been trading as high as $352 on Wednesday. It has since rebounded from its flash-crash lows to trade to about $325 on the GDAX exchange. According to industry and price tracking website Coinmarketcap, which takes into account the price on several exchanges, ethereum was trading around $338.
Adam White, the vice president of GDAX which is run by U.S. firm Coinbase, posted on the exchange's blog, outlining what took place at around 12:30 p.m. PT on Wednesday. According to White, the multimillion dollar market sell order resulted in a number of orders being filled from $317.81 to $224.48.
As the price continued to fall, another 800 stop loss orders and margin funding liquidations caused ethereum to trade as low as 10 cents."
Interesting. Thank you.
@ronnieramli You are welcome.
Thanks for your interesting thoughts and your right. More and more are feed-up with the current financial system and cryptocurrencies are an alternative. Myself, I´m very tired of our financial system and I can´t understand why we still believe in it. I mean it´s just paper and nothing else! How come? What´s your thoughts? Are we in the end or can this continue forever? I´ve also understood that silver and gold are heavily suppressed which becomes obvious when compared with cryptocurrencies. In a way, I´m just waiting for the crash that never comes! Keep up with your good job!
Keith Neumeyer: Silver/Gold Manipulation Ending Soon?
Hi Maneco! I really do like your material, you are very down to earth and your analysis are unbiased with no hidden agenda. That is extremely hard to come by, so I appreciate it!