Once they go this route of gov gold crypto the next logical step is to lock out any competition, BTC, private gold backed crypto and gold itself. The move will be designed to address the growing concerns with and perhaps a crisis FIAT, the gold backing will address that (provided they are honest and transparent with it) but they will need to lock down all competition. At the end of the day, until the revolution comes, the guys who write the rules and have the big guns will protect their interests. IMO if you hold gold long term you will end up with an offer of gov gold crypto in exchange, an offer you can't refuse.
This is coming and once it starts it will go global. IMO the next crisis may be the vehicle that starts its introduction.
So, thanks to a little run in the access market today, we managed to close the day above Louky’s 1359. Are we officially ‘in the box’? Will be interesting to see if we can consolidate gains here.
BTW, short of a two day miracle, it looks like I am going to pull up just a hair short on the truckload of GDX June calls I have. Looks like I hit a home run ball that just faded and curved foul. I did manage to sell some of my other GDX contracts at a healthy profit, so I will come out ahead. Still, I was oh so close!... I think going forward you have to make your call based on fundamentals and technicals and then stay close to the money. Too far out and you can miss even when your mechanicals were sound. 2c
Miners are percolating. Things are heating up. I'm wondering if we breakout above 1400 first before we have a pullback to reduce commercial long positions? Or maybe it will puke first thing in the morning?
Should be a very interesting rest of the week. Keeping an eye on Louky's boxes for now.
ASX Goldies.... +~7% with 1.5 hrs to trade. Setting records today. Today our arse is on fire and we are blazing a trail through the stratosphere! While good this is slightly concerning. Should we slow down our arse may end up with third-degree burns!