‘You’re The Problem’
Here’s one guy that finally figured out gold’s not moving higher as expected (as he has been touting) in anticipation of ‘rampant’ inflation.
As a reminder, this site stated from the outset, there’s little-to-no inflation.
Prices going up are the result, in large part from the intentional destruction of the supply chain.
Why that’s happening is a topic for another time. One clue is, if you’re starving, you’ll do whatever you’re told.
However, let’s not digress.
So, what’s the reason gold (and silver) are not moving higher? Well, that’s easy:
It’s because of you!
Yes, you the ‘investor’ are the problem. You are the reason that gold and the mining stocks are not moving higher.
You can’t make this stuff up.
Since he (Schiff) ‘put it out there’, his reasons are fair game for discussion.
Performing A Public Service:
In a way, the linked article is a fantastic public service.
Just like the biotech sector intentionally euthanizing (a polite word for what’s really happening) its customer base, here we have another entity calling out its own followers as the problem.
It’s similar to the rabid, mindless, one-way (only goes up) gold bulls crying ‘it’s all rigged’, when their pathetic attempts at analysis don’t work out; we now have another entity citing YOU as the problem when the forecasts fall flat.
This is yet another so-called financial source that can be permanently crossed off the watch list.
Brutal, But Beneficial:
Admittedly, the ‘tone’ of the posts on this site are not for everyone.
Even mild-mannered Dan at I Allegedly, finds himself responding to snowflakes that complain about his ‘get ready’ posts.
There’s good reason why the average are so ignorant.
For those who were actually listening in middle-school, the history books conveniently leave out the part where millions of Americans died of starvation during the Great Depression.
No pictures of emaciated bodies. Nothing.
With what’s coming, we’re likely headed for mass casualties in one form or another. The financial community refuses (from what I’ve seen) to discuss this up-coming event.
If you’re still using a ‘financial advisor’ and they’re not talking about, or don’t know about the elephant, do you really want to be (paying for and) taking direction from someone who’s that lazy, fearful, or ignorant?
Prechter, said it himself when he stated, the next mega bear market’s going to wipe out the ‘wealth management’ industry.
We may be on the cusp of that now.
With that said, this site does not, and will not give financial advice.
Each person has his (her) own situation in life. You are the one to decide on your next direction or action.
What this site does do, is attempt to provide analysis and supporting price action data on what’s really going on.
What’s the market saying about itself?
If you’re still reading, that was a very long intro to get to our topic for the day: Gold miners, GDX.
Wyckoff Analysis: Senior Miners, GDX
What we see from the weekly chart is straightforward.
GDX, has been channeling lower for about a year:
The next chart shows we’ve penetrated support and are now testing the underside.
Of note: GDX is in ‘spring’ position. An upward attempt is to be expected.
If GDX was to break out and start a sustained bull move, this would be the spot. We’re at the danger point.
In my view, the participants in this sector are borderline delusional, if not completely insane.
They disregard what the market’s actually doing; holding to a (so far, for years now) unverified belief that ‘$10,000/oz gold, is just around the corner.’
It could very well be … but only after the (possibly, soon to be) starving stackers have sold off their hoard to buy food.
One has to wrap their mind around the fact, we’re being subjected to a long term diabolical plan.
Thinking and acting with that long game in mind (in my view) provides at least a hope for not only survival, but positioning to prosper during the on-going collapse.
Lastly, here’s a link to a previous analysis on GDX.
Decide for yourself whether or not that information provided a service and/or was useful and timely.
Charts by StockCharts