What Happens To Gold And Silver Next? Look Out Below?

@angel
This is not good, its a bad omen for things to come.
In the past, when a gov. is on the brink of financial default, it begins with capital controls.
If that goes all smoothly, watch gov. pension funds be next up for seizure or severely reduced.
And if the people accept that...well say hello to Cyprus again...
Here's a letter sent to Chase business customers;

Miggs, I know it isn't good. It is pretty frightening. And I think only the beginning of more restrictions and controls. New more compiled info given about flights now as well in the US. Everything and anything about anyone flying. That was in the NY times.

That my friend is because, one day flying will become a restricted privilege, (not a right), ultimately, diminished.

@basebal
They could make BC illegal but it would only be in the US, I would imagine? On a global level, BC could be curtailed through the internet, but I don't know how that would work.

I remember the news a while back about the US hunting down online poker sites and if I recall correctly, that's when the servers were established
about a stone's throw away from where I'm sitting on Mohawk territory (where all levels of gov. dare not enter lol) I don't know about payout problems
but those poker sites did fill in robots on their tables, effectively stacking odds with the house. What a concept! lol who knew?

There would probably always be safe havens for it like there is for everything from either governments not caring or just the inability to do something. Though I imagine if it got to the point the US did it Europe and Canada would follow suit at some point given what it is. Even if it was just the US for the US its purposes would be met.




LOL exactly they just put them where no one will do anything about it. Knowing that I said no thank you to it. They actually went after it because of the ability to launder untraceable money to terrorists and criminal gangs through it.

Theres been so many scandals surrounding it I dont know how anyone puts their money into those things. There was another one where a couple professional poker players ran the site and they were using the 100s of millions as their personal bank roll knowing theyd never have to pay it all out.

Id trust it if a Vegas casino group did it but thats about it. They wouldnt risk their vegas licenses over that with the multi billions they have invested in their properties.

Like online poker though I see bitcoin following the same path where horror stories come out and the problem just kind of takes care of itself as more people avoid it.

Ok lets bring this thread to speed-

since mid August, we have had silver and gold prices trading in a range. We have had some very interesting moves as well. You might recall back in September the vicious 1 day bounce in gold and silver based on the FOMC meeting. Then for a 2 weeks ago, both gold and silver were acting in a manner that would set up typically for a leg lower in price. That completely changed as the sellers did not show up and once again these two PMs charged higher, with a large gap up on 10/17.

So what exactly is going on? Does anyone know? Does this mean we snap out of the downtrend finally? Does any of this even matter at all?

What is happening with all this constant back and forth is a process. The market is determining what the next move of importance will be, it is working on a resolution. Determining where we are at exactly is based on various time lines.

In the context of a longer time frame, gold and silver are in strong downtrends, of that there is no doubt. However, it is common within these downtrends for counter trends to exist and flourish. In shorter time frames, these downtrends are being broken with intermediate uptrends. Yet shorter time frames would have us in specific narrow ranges.

Lets look exactly where we stand right now.

For gold, we see it is attempting to break out of this narrow range that its been in since roughly 9/20. Should it break the range its been in, a move could take it to the late August highs. Longer term, to make all this stick and look at gold in a context of making headway out of a range, I'd like it to rip past these late August highs it up in on the 27th and 28th of August.

Silver on the other hand still appears below this range. While it exactly hasn't plummeted to its lows and avoided them, going back to early October, it hasnt bumped its head towards the upper range yet. The upper range we are looking at would be the 8/23 high in silver. So that bears watching: does silver proceed higher, following gold or does it remain in a range.

Determining where silver and gold go is a process. It will take time. There will be many moves in between. Identifying a reversal will be key here as it will confirm that we are really breaking out of a range and not just staying range bound. For that reason, longer term investors should just wait out the action. Either buy gold and silver super cheap or wait for them to confirm that they have snapped out of the range, despite buying at higher prices.

Finally, there have been many market participants who have been cashing in on this range. Intra-day traders have caught the moves on these gaps. Swing traders have made money by buying the low end of the range and then selling the high end. Big funds and institutional money has done nothing, sitting on the sidelines. It will be their money that will be needed to break out of the range.

So continue to watch, be patient and enjoy these ranges, as they are telling a picture, all you have to do is observe.

How many U.S. dollars was a Roman silver coin worth 2000 years ago? Oh wait the dollar had nothing to do with it's value then. Or 1000 years ago, or 500 years ago, and it is just an illusion now. Qe is destroying it faster than ever now.

Yup,

If the US Dollar goes, and you don't want your silver or gold. I will gladly take them off your hands.