Gold and silver have been marked down sharply over two days. If you have been shaken by the speed and magnitude, then that is the market makers' objective.
Perfectly said Alisdair. Thank you. Today is simply validation of what we saw coming. As Jessie Livermore said, ‘Be right, and sit tight’.
Another thought I have shared with my circle is be aware of the growing responsibility we will have to rebuild our communities once this fiat scam breaks. It falls to those who can… to do. And that means us. Try to not get shaken out. Hold firm.
If you feel comfortable, you can buy physical metal on these drops, if you can find any. I have no fear of the drop continuing for any length of time as Alisdair stated, they’re shaking out the skeptics and as soon as buyers (= Central Banks) start buying the price will stabilize and likely go up parabolically. At least I hope so 😊.
It’s gut wrenching stuff. However the fundamental macroeconomic conditions haven’t changed. It seems we are all experiencing the psychological multiplier effect of a loss rather than a gain in these turbulent markets. I am minded to remind that this community hold assets which are unleveraged (hopefully for our readers) and without counterparty risk. This is important during the same week when the US Fed baled out some of its banks to the sum of US$500bn and the US Treasury extended swap lines to Argentina in a move that likely went up in smoke. All of these actions have to be paid for eventually.
I read a lot of the Austrian economists, Peter Schiff, Adrian Day & Alasdair so I'm all in on physical Gold with 5% in mining stocks. I sold my house in 2022 & invested in gold. If I'm wrong then I'm going down with the ship.
Thank you Alasdair. I saw an opportunity to sell and take a profit, my brain reminded me of why I bought precious metals. Came to my senses and sold nothing. I've been through this before.
I arrived to Gold after 40 years of head in sand after the 1980's crash . I had decided it was easier to earn and spend on girls and whisky. I have until now never increased value on anything outside the surgery , and that includes land if you account for maintenance and inflation. So being new even though a boomer i was easy to train that Gold is money / the rest is credit debt and crypto a ponzi scheme in the ether . Now at first because I have relatively little I thought I could sell and buy the swings. It didn't work Once you gain the contempt for Government currency that it deserves the swings are almost irrelevant It si weird to hear seaoned investment people ytalking about gold bubbles, You can not have a bubble in fundamental money. It is like saying there is a bubble in the air supply. I only need to sell 100grams every so often for household expenses
The paper price of gold seems to be much more powerful that physical gold. We just have to see if 4000 holds.
Alasdair has hinted at the idea that China now controls the gold price. If thats true then it's the Chinese taking the price down or standing aside while paper gold in the west takes the price down. China's interests and agenda may not be ours.
The idea that BRICS stands for anything, is probably delusional. Other than Russia and China, all the other BRICS joiners are simply in it for whatever advantage they can extract from the sponsors.
It seems clear that Alasdair's basic thesis remain intact: the eventual demise of the current FIAT regime. But nobody knows when that will happen and history just tells us that while one FIAT regime collapses, another rises to take it's place.
I took my profits in silver. I will maintain my gold position for now. For myself, the more one has to treat Gold as a trading venue, the less interesting it is.
Still cannot buy a best value 1 oz silver Britannia from the Royal mint. Email me when in stock has been up for about three weeks now. Ditto cast silver bars.
Bullion by post has best value 1 oz silver Britannia available but for £62.36. A whopping drop of 64p from last week!
Or 1.01% if my maths is adequate. Yet the silver price is down about 7.7%
This correction is all noise. Gold Britannia's are about £240 over spot. The price is hardly dropping for retail buyers.
Reminds me of working in my Dad's shop in the late seventies. My job was to paint the special offers posters for the front window. One of best prices poster read, Jones' sausages, only 15p a pound. When people came in we would inform that'
" We've just run out" But we got our select sausages for 22p a pound.
Wonder if the Royal mint got the idea from my dad?
Interesting observations on the divergence of retail physical prices from 'market" prices. Not sure what it tells us about "the market". In the long run perhaps, physical will be right. Of course in the long run we will all be dead.
This short occurence happened outside the typical futures contract hedging windows, correct? Typically occurs end of week / end of month european time, correct?
It’s my understanding that if the banks/market makers use the available bullion to leverage their shorts at say 100:1, then it stands to reason that as the bullion is drawn down, through delivery, should not the effect be 1:100 in reducing their ability to influence the market through paper shorting? Perhaps you can comment.
Thanks for your reassurance Alasdair!
Perfectly said Alisdair. Thank you. Today is simply validation of what we saw coming. As Jessie Livermore said, ‘Be right, and sit tight’.
Another thought I have shared with my circle is be aware of the growing responsibility we will have to rebuild our communities once this fiat scam breaks. It falls to those who can… to do. And that means us. Try to not get shaken out. Hold firm.
If you feel comfortable, you can buy physical metal on these drops, if you can find any. I have no fear of the drop continuing for any length of time as Alisdair stated, they’re shaking out the skeptics and as soon as buyers (= Central Banks) start buying the price will stabilize and likely go up parabolically. At least I hope so 😊.
A good time to add to positions in some of the miners, too.
Yes even if you wanted to trade now it woukd be absudly dangerous coming back in >>sorry sir. No gold .
With the mantra of..buy the Dip, its strange WHO.. would sell SO much...gold or silver
paper, I know
So...someone...is Front running..something..thats coming down...somewhere...!!
I hope, that the..MINERS...go on STRIKE = NO forward selling to the "short bankers"
Have Bankers forgotten...WHAT...Jesus does to the moneychangers....??
= NO Bankers in Heaven......ha ha ha ha....+ very few..LAwyers too....))))
... don't forget the quacks and politicians.
Politicians...think that they are God...and already in Heaven...
but yes...haven´t seen any...this year...)
Exactly what I have been telling myself, but it is reassuring to hear it from you.
Finally someone with real insights, as well as a relevant AND timely comment ! Thanks Sir.
It’s gut wrenching stuff. However the fundamental macroeconomic conditions haven’t changed. It seems we are all experiencing the psychological multiplier effect of a loss rather than a gain in these turbulent markets. I am minded to remind that this community hold assets which are unleveraged (hopefully for our readers) and without counterparty risk. This is important during the same week when the US Fed baled out some of its banks to the sum of US$500bn and the US Treasury extended swap lines to Argentina in a move that likely went up in smoke. All of these actions have to be paid for eventually.
I read a lot of the Austrian economists, Peter Schiff, Adrian Day & Alasdair so I'm all in on physical Gold with 5% in mining stocks. I sold my house in 2022 & invested in gold. If I'm wrong then I'm going down with the ship.
Brett. Following the best of the best sir. You are about to be a VERY wealthy man. Enjoy living on a nice big yacht with a staff :-)
I’m quite happy it’s down, gold ruffles feathers when it climbs. If it could just drop some more my Christmas bonus is round the corner.
One good reason I am a paid subscriber to your substack. Reasons to be cheerful. Ian Dury and the blockheads.
Thank you Alasdair. I saw an opportunity to sell and take a profit, my brain reminded me of why I bought precious metals. Came to my senses and sold nothing. I've been through this before.
I arrived to Gold after 40 years of head in sand after the 1980's crash . I had decided it was easier to earn and spend on girls and whisky. I have until now never increased value on anything outside the surgery , and that includes land if you account for maintenance and inflation. So being new even though a boomer i was easy to train that Gold is money / the rest is credit debt and crypto a ponzi scheme in the ether . Now at first because I have relatively little I thought I could sell and buy the swings. It didn't work Once you gain the contempt for Government currency that it deserves the swings are almost irrelevant It si weird to hear seaoned investment people ytalking about gold bubbles, You can not have a bubble in fundamental money. It is like saying there is a bubble in the air supply. I only need to sell 100grams every so often for household expenses
Nobody really knows whats going on.
The paper price of gold seems to be much more powerful that physical gold. We just have to see if 4000 holds.
Alasdair has hinted at the idea that China now controls the gold price. If thats true then it's the Chinese taking the price down or standing aside while paper gold in the west takes the price down. China's interests and agenda may not be ours.
The idea that BRICS stands for anything, is probably delusional. Other than Russia and China, all the other BRICS joiners are simply in it for whatever advantage they can extract from the sponsors.
It seems clear that Alasdair's basic thesis remain intact: the eventual demise of the current FIAT regime. But nobody knows when that will happen and history just tells us that while one FIAT regime collapses, another rises to take it's place.
I took my profits in silver. I will maintain my gold position for now. For myself, the more one has to treat Gold as a trading venue, the less interesting it is.
Meh! I say!
Yes the spot price of silver is down.
Still cannot buy a best value 1 oz silver Britannia from the Royal mint. Email me when in stock has been up for about three weeks now. Ditto cast silver bars.
Bullion by post has best value 1 oz silver Britannia available but for £62.36. A whopping drop of 64p from last week!
Or 1.01% if my maths is adequate. Yet the silver price is down about 7.7%
This correction is all noise. Gold Britannia's are about £240 over spot. The price is hardly dropping for retail buyers.
Reminds me of working in my Dad's shop in the late seventies. My job was to paint the special offers posters for the front window. One of best prices poster read, Jones' sausages, only 15p a pound. When people came in we would inform that'
" We've just run out" But we got our select sausages for 22p a pound.
Wonder if the Royal mint got the idea from my dad?
Meh!
Interesting observations on the divergence of retail physical prices from 'market" prices. Not sure what it tells us about "the market". In the long run perhaps, physical will be right. Of course in the long run we will all be dead.
This short occurence happened outside the typical futures contract hedging windows, correct? Typically occurs end of week / end of month european time, correct?
It’s my understanding that if the banks/market makers use the available bullion to leverage their shorts at say 100:1, then it stands to reason that as the bullion is drawn down, through delivery, should not the effect be 1:100 in reducing their ability to influence the market through paper shorting? Perhaps you can comment.