Readers of this blog will know that besides bitcoin I also believe in gold and silver which are just like bitcoin, unprintable by bankers (not that you’d think it sometimes the way the price seems manipulated by paper markets). But wether rightly or wrongly I believe holding some of your savings in the form of physical gold and silver and bitcoin of course will put you in an excellent position as the economy continues on a path to ruin. But wait …. news just in. the economy is in fact recovering! Everyone says so on telly and that, buy stocks the FED has you covered!
Fiat currency of course IS actually printable in any unlimited quantity bankers decide to choose, and they always choose a lot if you get my drift. Just thought I’d throw that in. You could try and get into the raging bull markets in stocks if you have a stomach for getting out in time. Good luck with that
Anyway enough of my rambling, heres an overdue update to my silver chart, this one is long term with 1 week candles stretching back to 2005, on log price scale.
So first things first, look at that! the rock solid support promised in my previous post is smashed down! Silver falling like a rock! Below my horizontal support, (the upper blue horizontal line) and below my long term log trend line (red dashed), that picture looks terrible.. technically!!! Sell mortimer, silver is going to zero
Or does it? Well anyway, to me at least, silver seems oversold looking at RSI indicator. Additionally there is a divergence in RSI compared to price marked with pink lines. Just saying.
If there is one thing the central planners are good at it is painting the silver chart. Do you think its an accident the chart looks so aweful. Or are the central bankers fighting tooth and nail against competition. Is that aweful chart so aweful by design?
Off on a slight tangent but I hate the way silver has value added tax when you go to buy some? Why do they tax it in that way but not gold? Silver has as much a monetary history as gold if not more. Bah! Ive said it before its a currency war but not what you might think. The war is against us,. the little people, wether you are from USA, China, Russia, Europe or where ever you are you shouldn’t have money that holds value.
Heres a couple of video links which I thought are worth watching.
And if you are not familiar with JS Kim’s awesome work spreading knowledge you’d do well to check him out, heres his latest.