Friday, December 17, 2010
Whistling Dixie; Just the Trends, 'Mam
DXY's chart was very bearish today, only with the one huge hike after having been sold out in Asia and Europe. Very bearish. It had one good massive move today and that wreaked of manipulation. Contrast gold and especially silver's charts. During the start of the dollar "rally", the precious metals began to turn down, but caught wind after only a moment before turning up. Remember, gold has been trading better on a stronger dollar than a weaker dollar since April 21st.
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Silver (physical) just keeps finding support at a higher and higher level. The more $$ Helicopter Ben prints, the less unbacked fiat $$ are worth. It took me a long time to get this. Actually, Silver (all PM's) arn't going UP in value, RATHER, UNBACKED FIAT, is going DOWN in value. The $$ is recognized, Worldwide, as a shitty investment and only good for T.P. When the status of "World Reserve Currency" is revoked by more astute Governments; sporting PM and commodity backed currencies; the U.S. is doomed to 3rd. World Nation status. After Regional conflicts are sorted out, trade will be in Commodities, Labor and PM PERIOD.
ReplyDeleteIt is a necessary distinction to make, that PMs maintain wealth. And the FIAT currencies are losing value. Because of manipulation and price suppression, PMs are increasing in value, as they should have had more recently. There is a squeeze on price from both sides.
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