Face it, gold and silver along with other precious metals group crashed... this is followed by the accompanying bitcoin's accelerated correction over the weekend. Stock market correction will likely followed this week.
Money 💵 is a zero sum game. As silver continued to climb, I started to wonder if I should move to other assets classes. I spoke to a number of financial pals but we did not have a good conclusion in this inflationary world. Property prices, precious metals, stock market, especially those in the so-called AI related sectors (nuclear energy, storage energy and spaces, processors, wafers, data centres, etc), are all bloated.
Even Pokémon cards are ridiculously priced! The only thing that had been going down is dollars. Even cryptocurrencies are not here nor there. Trustworthy is the last thing I would associate them with, while stablecoins are as good (bad) as fiat money 💰. They are after all simply numbers generated by computers...
The world is not going to collapse tomorrow. The obvious short term beneficiary for the corrction is still the "escape" to the USD, which is a laughable concept.
Yes, USD is bouncing back... however just take a quick look at the sample chart below for USD v AUD (the main beneficiary of weak USD and strong metals prices), does this look anything like a reversal? Maybe... 🤔 but a long way from one...
Where is the USD going? After Trump's big effort over this one year to orchestrate the drop of USD, do you think he would allow it to bounce back? Remember, he still has not benefited from this weak dollar trend... after happily closing an eye 👁️ to the demise of USD, with nothing to show for from all the actions, do you really believe he will let it back up?! Just like that? With his Federal Reserve chairman announcement? [Facepalm] [Miser]
Yes, Trump has always been the wildcard since his re-election. The market has so far "happily" entertained his every whines and complaints. Do you think that is going to stop?
It's the midterm election year after all! Trump is not going to sit there letting USD goes back up! With ever-ballooning USD debts, US government would simply self-disrupt if they don't do anything. How silly would Trump look one year from now if that happens?
I do what I do... I will continue to add to my silver positions during this corrections. It was a crowded trade so I was not happy... now, it felt so relaxing... especially that I had recovered all my initial investment in this trade. Whatever we see here is running on free money... so I can afford to go back in as and when I want.
Even if the precious metals market closed for the next 10 years, I am willing to sit around... when it reopens, guess where would the fiat currency led by USD be? Auntie Cathie spoke about silver and gold bubbles, I wonder if she's able to take 10 years of market shutdowns for her AI and cryptocurrency bets... [Tongue] [Silence] [Chuckle] [Evil]
Just because I can... @Tiger_comments @TigerClub @Daily_Discussion @TigerStars
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