The Big Picture - Are Charts Useful ?
Trying something new folks. This is a PM Only thread please. I would appreciate if any non-PM comments, links, etc are used to start your own subject thread on the forum. (If interesting or fun, I'll probably join you over there ! ) Thanks -
Subject - - How do you now view the charts when it comes to your decisions & actions regarding PMs ? How do they now fit in for you . . or not ?
For me, I guess 'hope springs eternal'. I know the game is rigged, but I hope that some day the charts might provide a clue that things have turned around. That would take a convincing number of higher lows in PM prices. Of course, that hasn't happened yet.
I really suspect that the bankster boys have this thing locked pretty tight. They own the exchanges, financial media, legislators . . . Hell, they even own the currency ! It's their charts, so why would they let them be drawn in a way harmful to their own interests ? Former Fed Chair Paul Volcker said they made a mistake in the past when they didn't keep gold prices down.
That said, there was the big rise in PM chart prices starting in 2000. So, chart prices could (hopefully) rise again. Maybe. - - Or is the financial/economic system so fragile that they can't let interest rates or PM prices rise ? Gold has historically gauged the value of its alternatives (such as fiat currency). Gold has measured the risk premium of being in fiat, and you could view this as an interest rate. In Weimar Germany, the price of gold skyrocketed. It reflected the extreme risk associated with being in a currency that was rapidly losing purchasing power.
How do you see all this ?
