Sound Money Weekly Update: Gold, Silver, Bitcoin, Ethereum – 08.05.2017

PMCryptos

Approximate spot prices

Gold: $1,260 per paper ounce
Silver: $16.25 per paper ounce
Bitcoin: $3,200 per BTC
Ethereum: $240 per ETH

Bitcoin forks, Russia grand juries, North Korean missile launches, Deep State sabotage, technocracy rising, DNC investigations, sex trafficking arrests, new sanctions, and healthcare failures: if these are the dog days of summer then the fall could shape up to be a blockbuster. The best place to stay up to date with all of these events is On the Objective (https://ontheobjective.org/) as well as The Hagmann Report (https://www.hagmannreport.com/) where I am a contributor!

Gold

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Gold continues to waffle in the middle of the $1,200 – $1,300 range that it’s been in for most of the year. The precious metals complex took a hit at the end of the week with the jobs numbers giving a boost to the dollar, but we’ll save that for the silver section because it’s obviously more dramatic there. I’ve seen more and more chatter lately about this fall with the August 21st eclipse and September 23rd star alignments featuring heavily. The tension leading up to the fall has taken place for several years now, and obviously the most heavy-handed apocalyptic predictions have passed into obscurity. However, dramatic changes have taken place even if we haven’t seen a structural collapse or systemic reset as of yet. In August 2015 when everyone was focused on China’s markets imploding, could you have predicted that we’d be where we are? If CERN really is messing with the timelines, they’ve certainly produced some stranger-than-fiction results.

Silver

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Secretary Mnuchin, get over here! It looks like silver might make it back up to $17.00 after we flushed it and the banks got long on the crazy stop running… Someone must put a stop to this!

*Click*

Thank goodness! Another day for the fiat system. We must continue to protect our national security by preventing precious metals from finding their fair value. It is our patriotic duty. The empire survives! The bull market will never end! Soon we will buy stocks outright just like the Bank of Japan! Load up on the next correction boys; this thing is going to the moon!!

Awesome trade idea: use some cryptocurrency gains to rebalance into physical silver. This is not investment advice, but it is what I’m doing.

Bitcoin

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Once again, the rumors of bitcoin’s death have been greatly exaggerated. The premier cryptocurrency by market cap slipped to under $2,000 on concerns about the upcoming fork, and once it actually occurred we’re back at all time highs. Now that we’re squarely in my incredibly precise prediction window of $3,000 – $10,000, I’m going to wait and watch. I didn’t add back on the big dip because I was adding to my other crypto holdings. There are plenty of different nuances to how bitcoin will scale and manage protocol over the coming months, but if anything this demonstrates that an open source debate and free competition create an environment where truly anti-fragile systems can be created.

Ethereum

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I bought some ethereum on the way down at $200, $180, $160, $150, and $140 for myself and my family. I’d do it again. You have to be brave not to chase on the way up. Use the hard sells as a way to enter. I have to keep reloading my balance so that I can participate in some of the specialty tokens, and I always want to have some on hand in case a new opportunity shows up. The ICO market had an impressively July, and we’re now talking about billions of dollars of funding. Even though most people you know still haven’t heard of the cryptocurrency space and even those who have most likely don’t understand how to navigate, these assets will be harder and harder to ignore as time goes on. I wouldn’t mind some more stable price action, but I can’t help but feel like there’s more volatility ahead. Keep buying those dips!

Conclusion

Do your homework. Come up with a plan, and execute it. Revise the plan only when necessary. Always revise the plan when it is necessary. Take decisive action. Don’t be afraid to do nothing. There appears to be turmoil ahead, so be prepared to ride out a storm or two.

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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