Lately, I have been wondering why the U.S. dollar price of gold is showing so much support. Interest rates are high and most commentators that I follow say the retail folks are selling. (ETF's)
There are many interesting charts on this link below and one that caught my eye is the recycling of gold is creeping up. I would bet this grows with the price and adds some supply to the picture.
What do they know that they are not warning or telling the general public?
Looking around the World Gold Counsels website you can see who the biggest buyers of gold are.
- China
- India
https://www.gold.org/goldhub/research/gold-demand-trends/gold-demand-trends-full-year-2023/chart-gallery
From what I can figure they are unloading other currencies at a slow pace so they don't rock the boat and are getting ready for some form of reset to the global monetary system that is on the path to hyperinflation.
Will Bitcoin be a part of this reset or will the CBDC become the way to settle the books between countries? It looks like an answer to this will soon be revealed when they have filled their vaults and are ready to pull the plug on this whole thing.
This is all speculation on my part and I am looking for ways to protect my life savings.
I have gold and silver with a position in the mining sector. I don't trust the markets anymore so it is hard to think of new ideas other than prepping and crypto.
What do you all think about this and what are you doing to get ready for the reset? Will @pocketchange become the next guru with his thoughts and actions getting ready for the reset?
Only time will tell, lets hope it all works out for the better!
Thank you for reading my blog and have a great day!
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And I've stepped up my gold buying pace 15 months ago when gold was much cheaper, the gold stack is looking good!
So glad we got a bunch at them prices.
To answer the question in your Title, I'd have to say the Central Banks will need all that Gold, in order to buy "our" U.S. Electronic Coinage, so they can use it to replace their Digital Fiat Blips...
Makes sense to me my friend!
Cuz BRICKS and fiat likely to eat dicks 🤣 !BBH
Lol, they most likely will.
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@pocketechange makes sense.
I have a little gold/silver. Am seriously considering doubling down on crypto for the next year and seeing where that takes me.
I do worry about crypto dependency on a viable digital infrastructure but honestly the risk of all digital infrastructure going away is unlikely. Catastrophic yes, but pretty unlikely.
More worrisome is regulation and headaches from government crackdowns. There is a not small risk in my mind that crypto 5 years from now will be more regulated and possibly criminalized. Of course, this would enable higher profits ;-)
I feel the same way, I guess it is worth the gamble just in case though.
I trade gold in forex. However, in recent times I have decided to stay away from gold for now. I just use its Technical analysis to trade USDCHF since both are negatively correlated.
Thanks for sharing.
Happy Weekend
Forex scares me, I bet you have to keep up with world news pretty well when doing that. Cheers!
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