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Msg  257796 of 261475  at  7/17/2022 11:57:35 PM  by


 In response to msg 257780 by  Luckyone581
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Re: Gold Outlook

Regarding bitcoin and other cryptos my thinking is that the development of it as a medium of exchange is inevitably going to be blocked by governments everywhere - at the point where they can go in and out of a real currency - other than a few smaller governments like Singapore or UAE that are focused on being centers of exchange but these make up less than 1% of the global economy and all the big real countries are going to see nothing other than a threat in cryptos.  They will kill it outright or regulate to death.  Or make their own cryptos which they control which is just another fiat currency then in the end.
In the end crypto will evolve into a market where drug dealers can exchange values back and forth with pedofiles and slave traders and other drug dealers.
But OK for now it is in the minds of investors so I agree with the point you make that it is tenous to compare the 1970s to 2020s...and you could have pointed out other differences not just crypto.
Regarding the decline of charting techniques which I saw you use many times with success in energy markets this opens to me a more interesting question of what is going on in the gold futures pits.  What kind of a cabal and insider incestuous operation do we have in the gold futures markets where they do not even need to use charts to signal anything to one another.  Charting failure tells me they are just sitting down together - the top few banks or whoever - and agreeing directly on what they want to do with the price over the next few weeks or months.  And if you are not in that monthly meeting or encrypted call or whatever then forget about charting anything.  Yes it is sad because gold really is the quintessential free market commodity - more than wheat futures or whatever even oil because with oil physical delivery is very difficult - whereas with gold physical delivery is THEORETICALLY very easy to achieve.  Now the gold futures markets for sure have all sorts of hoops to jump through and barrels to jump over in order to get physical delivery but the more there are the more it shows how distorted of a market it may have become.  Of course there still has to be SOME link to the physical market but it can be a pretty flexible and long rubber band holding them together.

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