RE: What's up with the gold and silver monkey hammer8 Jan 2021 13:18
Maybe but I didn't say gold was being sold, it's not.
What is happening is FOMO in Bitcoin by the Institutional investors. They now see it becoming far more reliable as a hedge against the dollar crashing but there are only around 3 million of the original 21 million Bitcoins available. Supply and demand is now fuelling the price. The $ will crash at some point, it was only a matter of time after Nixon took it off the Gold standard in 1971. You can't keep printing money without it being backed up by an asset like gold, you just end up with hyper inflation like Germany before the war.
American institutions have nowhere to run now, bank rate may go negative, Bonds are stuffed, stock market is being pumped by the banks because they can't earn anywhere else.....sooner or later it's going to go pop unless you assets are out of the traditional market and in something like Crypto which cannot be regulated, it's too big and now extends all over the planet.
Of course there are always alternatives like Gold and Silver or its Miners which is why Warren Buffet ditched the banks and bought Barrick Gold.