Gold collapsing. Bitcoin UP.

[bitcool]

you guys should hope my subscription service takes off so i can take my views private away from this public forum.  there's nothing that heats up ppls ire more than an anti gold/silver thread i've found.

That's because gold/silver crowd care, many of them think investing in the metals is like building an escape bridge, they don't want to see it being destroyed.

I still find it hard to comprehend how a gold/silver investor can change his investment strategy in such a drastic way -- going from long to short -- seemingly purely based on some  superficial reasons.

I have to ask, what prompted you investing in gold/silver between 2005~2007? I am sure it was not technical, because EW master Mr. Prechter has always been very bearish on gold ever since it crossed $450/oz mark.

If you based on your decision on fundamentals, what were they? and what have changed?

[1713587279]

1713587279

[1713587279]

1713587279

[tvbcof]

Martenson put out another interesting thing recently which I ran across on zerohedge.  When the trend line in his chart is seriously violated, I'll start to feel like there may be some change to the forces shaping the valuation of PMs.  Until then I'm not planning to 'jump off the bridge' with anyone, and certainly not with anyone I've run across on this forum.

  http://www.zerohedge.com/news/chris-martenson-explains-how-gold-manipulated-and-why-thats-okay

Martenson's thinking mirrors my own (or vice versa) to a higher degree than almost anyone else in the philosophical space and I only ran across his work relatively recently.

[silverbox]

I read Turd from time to time.

He's maybe a bit too bullish, but thats ok

http://www.tfmetalsreport.com/

[tvbcof]

you guys should hope my subscription service takes off so i can take my views private away from this public forum.  there's nothing that heats up ppls ire more than an anti gold/silver thread i've found.

That's because gold/silver crowd care, many of them think investing in the metals is like building an escape bridge, they don't want to see it being destroyed.

...

Convincing a fair fraction of BTC holder to switch to PMs would increase the of PMs by approximately $000.00.  OTOH, convincing people to switch from PMs to Bitcoin could explode the value of BTC.

Of course I have no idea if that is part of the OP's motivation, but if so I wish him the best of luck in the effort as it would serve me very well.

[MatthewLM]

I read Turd from time to time.

He's maybe a bit too bullish, but thats ok

http://www.tfmetalsreport.com/

I keep a general lookout but also regularly read Ed Steer's Gold & Silver daily: http://www.caseyresearch.com/gsd/edition/turkey-once-again-proves-gold-first-and-foremost-money

[notme]

you guys should hope my subscription service takes off so i can take my views private away from this public forum.  there's nothing that heats up ppls ire more than an anti gold/silver thread i've found.

That's because gold/silver crowd care, many of them think investing in the metals is like building an escape bridge, they don't want to see it being destroyed.

I still find it hard to comprehend how a gold/silver investor can change his investment strategy in such a drastic way -- going from long to short -- seemingly purely based on some  superficial reasons.

I have to ask, what prompted you investing in gold/silver between 2005~2007? I am sure it was not technical, because EW master Mr. Prechter has always been very bearish on gold ever since it crossed $450/oz mark.

If you based on your decision on fundamentals, what were they? and what have changed?

There is more to technical analysis than Elliot Waves...

[cypherdoc]

i have 3 ppl who have expressed interest so far.

come on you gold bulls; you should subscribe thus encouraging me to go quiet!

[miscreanity]

A vote for Gene Arensberg of the Got Gold Report, particularly with his latest prognostication on the miners.

@cypherdoc: what would change your current perspective on the precious metals? I think you mentioned the ~$1900 high as one target. Above there, will you be calling for deflation to take hold again, ending the gold bull?

[cypherdoc]

A vote for Gene Arensberg of the Got Gold Report, particularly with his latest prognostication on the miners.

anyone who has that many gold mining companies advertising on his site has to be suspect.

@cypherdoc: what would change your current perspective on the precious metals? I think you mentioned the ~$1900 high as one target. Above there, will you be calling for deflation to take hold again, ending the gold bull?

for one thing, Bitcoin would have to fail.  don't laugh.  its holding steady in the $4's with all other fiat currencies mired around parity with the USD.  and i do believe in a future digital currency.

also yes, the gold and silver price would have to turn up but especially the miners who i think are leading the price down.

its complicated but i would also have to see a certain market structure where the relationships of stocks, commodities, and bonds support the strength in pm's with the USD going off the cliff.  none of that exists right now.

[miscreanity]

anyone who has that many gold mining companies advertising on his site has to be suspect.

I've been reading Arensberg from well before his site had advertising. The record stands for itself, having recommended selling of the very shares that are advertised on the site at or near peaks. Yes, always question the integrity of a source, but be equally wary of generic assumptions - i.e. do due diligence

[cypherdoc]

Btw, did u guys see this:  http://www.technologyreview.com/business/39962/

Summers says Bitcoin is innovative.  No criticisms whatsoever.

This guy is one of the founding fathers of our current present day crisis.  right up there with Rubin, Greenspan, and Bernanke.  He is generally associated with GibsonsParadox for those of you who believe in naked gold shorting.

What Summers says about Bitcoin is extraordinary in light of his background.

[cbeast]

Btw, did u guys see this:  http://www.technologyreview.com/business/39962/

Summers says Bitcoin is innovative.  No criticisms whatsoever.

This guy is one of the founding fathers of our current present day crisis.  right up there with Rubin, Greenspan, and Bernanke.  He is generally associated with GibsonsParadox for those of you who believe in naked gold shorting.

What Summers says about Bitcoin is extraordinary in light of his background.

Everyone thought New Coke would be better than old Coca-Cola and take things by storm

Except that Bitcoin isn't New Coke, it's Red Bull. 

[notme]

Btw, did u guys see this:  http://www.technologyreview.com/business/39962/

Summers says Bitcoin is innovative.  No criticisms whatsoever.

This guy is one of the founding fathers of our current present day crisis.  right up there with Rubin, Greenspan, and Bernanke.  He is generally associated with GibsonsParadox for those of you who believe in naked gold shorting.

What Summers says about Bitcoin is extraordinary in light of his background.

And at that time, there's a need for strong government actions, and that's what we tried to provide in 2009. Certainly no one's fully satisfied with how the economy is performing, but if you look at the six months from the fall of 2008 to the spring of 2009, they show deterioration on almost every economic statistic more rapid than during the Depression—the first six months after the fall of 1929. And certainly the play-out has been nothing like what it was after the spring of 1930, and that's a reflection of the strong policies that were pursued.

Too bad he's not smart enough to realize all they did was kick the can down the road while reducing their kicking power.  Oh well, he'll learn his lesson soon enough.

[worldinacoin]

At below $5 after waiting for so long, I don't think Bitcoin is really "UP"

[cypherdoc]

not much more to say than what i have already.

[cypherdoc]

GDX breaking to new lows led by NEM, the market leader.

[2weiX]

GDX breaking to new lows led by NEM, the market leader.

the market is down, equity ETFs will as well, that's no surprise.

[cypherdoc]

GDX breaking to new lows led by NEM, the market leader.

the market is down, equity ETFs will as well, that's no surprise.

it IS a surprise.  the gold bulls have somehow come to rationalize it in their own minds.

[tvbcof]

Btw, did u guys see this:  http://www.technologyreview.com/business/39962/

Summers says Bitcoin is innovative.  No criticisms whatsoever.

This guy is one of the founding fathers of our current present day crisis.  right up there with Rubin, Greenspan, and Bernanke.  He is generally associated with GibsonsParadox for those of you who believe in naked gold shorting.

What Summers says about Bitcoin is extraordinary in light of his background.

Thanks for the interesting find.

Summers joins an interesting list of very bright and well connected individuals who are clearly aware of, and surprisingly circumspect about, Bitcoin.  I'm tempted to believe that they would not mind seeing an increase in the value of their own stashes, but I'm probably just projecting.

[cypherdoc]

Btw, did u guys see this:  http://www.technologyreview.com/business/39962/

Summers says Bitcoin is innovative.  No criticisms whatsoever.

This guy is one of the founding fathers of our current present day crisis.  right up there with Rubin, Greenspan, and Bernanke.  He is generally associated with GibsonsParadox for those of you who believe in naked gold shorting.

What Summers says about Bitcoin is extraordinary in light of his background.

Thanks for the interesting find.

Summers joins an interesting list of very bright and well connected individuals who are clearly aware of, and surprisingly circumspect about, Bitcoin.  I'm tempted to believe that they would not mind seeing an increase in the value of their own stashes, but I'm probably just projecting.

i've been meaning to expound on this; if Summers knows about Bitcoin, then Obama knows, and every other political leader in the Western World.  and i have to believe every banker since money is their business.

i find it naive when i hear so many folks around here thinking bankers or our politicians have never even heard about Bitcoin.

and if everybody knows about Bitcoin now, there must be a significant portion of ppl that think like us, and that ultimately will have to change your outlook on its prospects.