Weekly Update: Gold, Silver, Bitcoin – 04.07.2017

Approximate spot prices

Gold: $1,255
Silver: $18.00
Bitcoin: $1,200

Greetings fellow amateurs,

By now you’re likely aware that the US strikes in Syria that were carried out last night either represent the onset of World War III or an American power renaissance… or a vindication of total globalist control… or a test to ensure that the military would comply with an attack order… or a 4D chess move to create a bait and switch… or a necessary step towards removing an insane murderer… or an unconstitutional abhorrence… or a designed overreaction to a false flag… or seventeen thousand other things.

My point here is not to be facetious: this is extremely serious. Instead of losing our minds, let’s proceed with the necessary measure of discernment and patience. We’ve felt for awhile that we were about to hit turbulence. The captain made the announcement, but this week we started to hit the bumps. If it seems like a dozen monumental narratives clarified this week, then it’s probably because that’s exactly what’s happened.

After learning of the missile strikes last night, I went to prayer and to the Word of God. The only word I felt in my spirit was ‘watch’. So that’s what I’m doing. The reactions to this dramatic, catalyzing event have already been extremely informative. They are at the very least validating the facade of the two-party system and the obsolete media. Hopefully now we can finally forget those labels once and for all. It’s deep state globalist satanic statists versus national sovereigntists.

I for one am sick of war and heartbroken over the vast destruction that the current geopolitical and economic structure has caused, is causing, and will continue to cause unless God intervenes.

Nonetheless, I will wait and watch to see how the weekend plays out. The confluence of events here implies that the general shaking we have expected for many years may be revving up at this time.

So with the threat of war rearing its ugly head again we should definitely see a breakout in the precious metals as uncertainty leads investors to flock to risk assets… Right?

Gold

Good one. Maybe I even almost got you there with my throwback to fundamental analysis and real market price discovery. We saw big volume today as paper gold touched $1,270 today before getting tapped on its glass jaw by some cascading sell orders. Where did the bid go? Ask the Treasury Department. Nonetheless, the price action is still decent even if a weekly close above recent highs would have been a solid signal of strength as one can get in a rigged game. Hang on tight and wait for more. Owning gold is still a reasonable hedge against World War III, and even though this isn’t the cheapest it’s ever been you can still acquire this asset. Precious is indeed an appropriate adjective. The bad guys still have their slimy hands on the price controls, but this bumpy ride may throw things for a loop. On a side note, I’ve changed my chart ranges. The daily charts will now display the last year’s price action, and the 6 hour charts will now go back to the beginning of 2017.

Silver

I had to throw that extra chart in here to demonstrate the 50 cent smackdown that took just over half an hour. Normally we’re supposed to avoid chasing waterfalls, but this is a river and a stream that we’re used to. To close the week back at the $18.00 support is disappointing considering a few blinks ago we were flirting with the $18.50 breakout zone, but que sera, sera. My recommendation is to set an alert back at $18.50 as the third time may be the charm and also back at $17.00 as a decent place to scoop up some of this robustly undervalued and suppressed asset. This is still business as usual, because we go to war to stimulate our economy and if the precious metals get unhinged that undermines the whole petrodollar dominance plan. It has always been a temporary structure, and the people in the basement of the Federal Reserve know it. However, that won’t stop them from milking every precious bit out of it that they possibly can. The volume is also still suspiciously low.

Bitcoin

Considering that bitcoin is notorious for volatility, its reaction to the latest round of geopolitical turmoil was remarkably muted. Last week we had dipped below the trendline and looked like we might be making another lower high. However, bitcoin got right back to its normal ways and has moseyed back up to $1,200. A nice job by the buy the dip squad on this one once again. A hold above $1,100 would be positive ammunition for the long awaited run up to the $1,500 area. I wish I jumped in when it was $10, but it’s still early days considering barely anyone has ever even heard of bitcoin. I don’t have much else to say this week because I’m cognitively worn out from recent events and am almost done with my most productive week of tutoring during my three years in the business. I give the glory to God and pray that we would see repentance, revival, and deliverance from those that would literally enslave and destroy us.

Conclusion – a repeat from last week

Whenever you think the political environment can’t get any more ridiculous, it will. If you can keep your head when all about you are losing theirs… you’ll be a Man, my son! For the record, that’s Rudyard Kipling – not me. God bless!

Disclaimer: These are one amateur’s fallible opinions. Holding any asset is risky, so do your own research and make your own investment decisions.