Bad analysis, captain. Someone said it in the twat comments....they needed liquidity.
Gold won't 'puke'; and if it does, what gold puking means that it might get a 10% haircut, meaning drops from 20 back down to 18. Do you think gold will go down to 16, or 12? If so, I'd like to know how that happens when you have
Russia backing ruple in gold
BRICS growing because of de-dollarization and weakening confidence in a biden run america, meaning gold will become MUCH more important as BRICS supplants the swiss-eu-us dollar western swift system
America hitting their economic debt event-horizon of 33T, beyond which you almost certainly will have a collapse of global reserve currency fiat, and those dominos go with it.
Finally, this is minor but it is a market indicator nonetheless...you have a ZH article talking about how the Texas comptroller--who launched the 'fort knox of texas for regular consumers' called the texas bullion depository--successfully passing a gold-backed currency bill thru the half of the texas legislature...if it passes the senate, it becomes law because gov abbott who is a based R will certainly pass this. The comptroller would not have put forth a gold-pegged-cryptocurrency bill if it didn't have Abbott's support. In essence, this is a response to CBDC, saying "nope, we don't want that...we want SOUND MONEY. We want the a competition to the fed reserve note. We want real money and physical gold is problematic, so we're launching a gold stablecoin." I'm recommending they peg to a fork of monero and call it a goldero
Bad analysis, captain. Someone said it in the twat comments....they needed liquidity.
Gold won't 'puke'; and if it does, what gold puking means that it might get a 10% haircut, meaning drops from 20 back down to 18. Do you think gold will go down to 16, or 12? If so, I'd like to know how that happens when you have
Some of my wetter dreams involve gold going back to $1600. Well, that and lots of naked midgets.