Weekly Update: Gold, Silver, Bitcoin – 06.01.2017

gsb

Approximate spot prices

Gold: $1,270 per paper ounce
Silver: $17.30 per paper ounce
Bitcoin: $2,400 per coin

After taking a week off to celebrate my one year wedding anniversary, I’ve been chomping at the bit to get back to writing these weekly updates. If the spring has been any indication of what is to come, then summer and fall should contain more unexpected surprises as well as the potential for long-awaited events on the grand truth spectrum to begin rolling out.

These last weeks have been a whirlwind of media and happenstance, but the same trends and themes persist. The east continues to assemble Eurasian block partnerships to drive the institutions that are forming the backbone of the emerging multipolar world. Technology continues to develop unabated. The fundamental economies of the west continue to grind down. The sustainability of the dollar is becoming more questionable by the week.

A word of caution: avoid distraction as best you can. Yes, for the sake of the truth that will implode the systemically corrupt architecture, it is worth calling out the lunatic actions of Kathy Griffin, calling sponsors, and making your voice heard. Those things are indispensable, but don’t lose out on the big picture. Failure to do so will lead to being tossed about by each news cycle.

Manchester. Manila. Hannity. Assange. Griffin. Covfefe.

Seth Rich…

All of these aspects are important or at the very least interesting and informative, yet if we don’t make sure to prioritize our focus then our time and our opportunity will pass by. Do everything you can, but recognize that you can’t do everything. Focus on your priorities, and always keep in mind that they may need to be adjusted from time to time. This is a long, strange, and dangerous game. Be tactical and reserved. Only go all in at the moments that are absolutely necessary.

Follow the Lord. There’s no other way to see this maelstrom through without bitterness, anger, and frustration taking hold. This world is toxic. Continue to educate yourself.

Gold

Gold D 06012017

Gold H 06012017

Not much to speak of in terms of price action in paper gold contracts over the past week and a half. Any sustained time above $1,260 appears constructive, and the Federal Reserve will likely provide the next catalyst. Hopefully we’ll see $1,300 again before $1,200, but since that’s up to the criminals setting the price we’ll just have to wait it out and see how things develop over the coming weeks and months. The calls to impeach Trump have died down from many quarters, but there is no shortage of potential catalysts for precious metals. After all, we are in the stage of fiat currency death.

Silver

Silver D 06012017.png

Silver H 06012017.png

Up a dollar from my most recent accumulation point after the slippery slop that lasted almost a month, silver is still under pressure. It seems like we should be able to get above the daily moving average, and even though the technicals don’t ‘really’ matter it would be great to see continued strength. Continue to accumulate, and feel free to wake me up when we get to $19.00 or if we go back below $16.00. Not much to say here apart from buy early and often while it is still possible.

Bitcoin

BTC D 06012017

BTC H 06012017

The latest dramatic moves in cryptocurrencies has led to some speculation about whether they are in a bubble. Some of them likely are because they don’t have a use case which can’t be patched into a more dominant cryptocurrency or an ecosystem surrounding them. Bitcoin likely isn’t in a bubble yet – even if a correction was overdue – unless an EMP has something to say about it.

I was interested in getting involved with the ZenGold ICO (Initial Coin Offering) because a cryptocurrency backed by gold has some incredibly attractive attributes. However, despite waking up at 5am eastern time to participate, the entire offering was scooped up in a matter of minutes. Some major Asian players likely hit the ‘buy everything’ button, particularly with the 20% bonus for earlybirds. There will be other opportunities, so I simply put some of those funds into ethereum instead.

My bitcoin sell spots, as described publicly in my previous article and on Twitter, are shown in blue here. The good news is that because I sold some you can virtually guarantee that the highs aren’t in yet. There’s just no way I sold anything that close to the top. I got lucky because I woke up in the middle of the night and saw bitcoin close to $2,800 after my previous sell just under $2,400 earlier in the week. This was according to plan even though we didn’t see $500 up in one day (unless you were trading the Asian exchanges). I didn’t buy back on the dip below $2,000.

The situation will be more interesting if we get another down wave, but having covered the trade I’m content to sit on my core position and let it ride as an investment. If you’re just now looking to get involved, then don’t go all in. Scale in and buy the big dips – important to know what ‘big’ means in context (maybe ~20% downmoves?) – wherever they present themselves. Before doing so, know the thesis and the technology.

On another note, if you are a Christian and disagree with my discussion of bitcoin, then please get in touch with me via email: amateursociety@gmail.com. I’d welcome any chance to have a discussion about why I don’t think bitcoin is the mark of the beast discussed in Revelation. Always pray about your decisions, do your homework, and obey the leading of the Holy Spirit.

Conclusion

Keep the faith. Tell the truth. Sort out your life. Make a difference. Do your homework.

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

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