Precious metals and cryptos are bouncing today, after the Fed's Jerome Powell announced the "Pivot", signaling higher prices for everything are coming!
Inflation is already out of control, and the Fed just broadcasted it can't keep interest rates here for long. 2024 is an election year, and the Fed does the bidding of the deep state, so rate cuts can be expected. That's bad for the dollar, and it means inflation is going to skyrocket.
Gold
I recently posted about gold breaking out over $2000.
Gold saw a nice jump today, pushing it well above the $2000 level. Have a look at this long-term chart going back 24 years:
Gold does well in times of war (NATO versus Russia, Israel and USA versus Gaza, etc). It also does well in times of inflation. The price is manipulated, but can't be kept down completely. At some point, manipulation will no longer be possible, and the price will simply revalue. Until then, we can expect more moves higher.
Bitcoin
I posted a prediction recently that Bitcoin would surge from $40k to $44k, then have a pullback to $40k, and then consolidate through time (move sideways) for a while. I even drew it out:
We indeed went immediately up to $44k, and then had the pullback to $40 that I called. Now, will we grind sideways for a while before moving higher, as I foretold? Or will today's announcement ("pivot") send the price immediately toward the all-time high of $69k?
On that chart, you can see the effect of today's announcement, helping the price recover from a dramatic fall a couple days ago, when the US government announced it was planning to regulate and control cryptocurrencies. This sounds spooky to a lot of people, but really, what are they going to do? The turnaround in price might give it momentum and help it push upward, especially with today's announcement that will surely send inflation much higher.
The economy is coming apart behind the scenes. There isn't long before a complete collapse, and a new monetary system (cashless economy). It's probably a good time to be holding precious metals and cryptocurrencies.
Every week my confidence in fiat currency is dwindling. I might as well create my own notes and exchange them within the family instead of using Federal Reserve Notes. My family is more trustworthy than the current financial system.
Mine, too! But probably not by much, as they are heavily enmeshed within it...
Wow gold is doing pretty well. Now I see, my friends told me before that gold is a very good investment. Thanks for sharing.
I don't no anything about gold but I did predicted the btc at $44k before halving because that was the resistance it has to break before soaring more higher. I believe this is a good news but just that the dollar still has a strong hold on Naira and it increase daily as naira loose value.
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