It’s hard to remain bullish when so many around us are bearish
I spend a lot of time scanning You Tube. I consider it fascinating for its variety of very often useless information. It’s 99% pro-recession and 99.5% pro-gold. I have never been more bearish on gold. I am really getting close to unloading mine.
I’m almost wondering if You Tube would reject a video negative on the crash idea and gold. All the money in both is being made promoting it not buying and selling.
Anecdotally speaking, I have to agree with Dave’s assessment. I observe that not only are the people who post YouTube videos very bearish, but so are the alt-financial and mainstream media.
It’s naturally safe to assume that the alt-financial media will always be bearish, but I have to conclude that since mainstream business is politically partisan and an arm of the elites, there is an agenda here. For instance, I take much of what Bloomberg says with a grain of salt, since it is anti-Trump. It often paints a more dour economic and geopolitical picture than say, CNBC or MarketWatch. Furthermore, the owners of the central banks need economic malaise and low price growth, so they can continue buying up the world, while keeping their scheme going until they are ready for the next phase. An ostensibly skeptical mainstream business media helps to promote this needed environment.
It is so easy to read all the bearishness and assume that things are coming unglued, but this has been a common refrain for years. Eventually, this worm will turn, but how long will that take? The elites benefit from the current conditions; low economic growth and low inflation. The student debt situation was planned purposely to keep the younger folk from bidding up prices further. Debt slaves have a hard time bidding up prices when they devote such a large amount of income to debt service.
I am not bearish on gold
I do have one suggestion with gold. I would hold on to my positions here. I have a long-term holding of upwards to 10% of my portfolio, and I don’t think too much about it. In some respects, I see it as a counter-balance to the asset inflation, so I wouldn’t be so quick to sell. However, it is always good to take some profit off the table, and if you have some gains, peel off 10% or so of your trade.
I am encouraged that the old 1,525 level from early this decade does not seem to be a huge deal. It is providing some short-term resistance here, but it is holding at this lower level and I find that encouraging. While the COT report has unwound somewhat over the past several weeks, it is still elevated. GLD still has an elevated gold holding, but needs to get closer to 1,000 tons from its current 915 tons.
I do sweat often with my predictions, because it’s so easy to get confirmation of the contra in all the media. I have a lot of foreign readers and if you are concerned about a dropping dollar, I would take some exposure off the table. It seems TPTB have turned to the Fed for further stimulus and to try to keep the dollar from breaking out above its longer-term range. A drop to 95 on the USDX would not be out of the question, but please consider that scenario if you cannot afford the risk. But, I am sticking to the plan.