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A look at Gold and Silver Charts (07.20.2023)

The Parasites_Hedgeye cartoon
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Limit government so that they do not overwhelm the population and build bureaucratic edifices creating more and more government staff into the ‘privileged’ class and more and more people away from the productive population.

Please note, I am not picking on the US specifically, what goes here applies to a huge segment of particularly the western world but, it is most apparent now in the US.


The Roman Empire was known for its vast territories, sophisticated administration and significant cultural achievements.  

One of the factors contributing to its decline and fall was profligate government and unsustainable practices. The lifestyle of government employees, their expansive unsustainable financial practices, excessive spending and financial mismanagement.

I remember as a youngster, government employees living in very modest suburbs, driving lower end vehicles, meeting and eating at people’s suburban clubs and restaurants.

Slowly I saw the change, where Mercedes were the minimum expected class of transport, not one vehicle or two, but a motorcade, pushing us mere mortals off the road, restaurants never affordable to us have become the meeting place of politicians. 

They now own and control us and sadly we, as a society, have allowed this.  

During the early years of the Roman Empire, under the rule of emperors such as Augustus and Trajan, the government maintained financial stability through successful conquests, expanded trade routes, and efficient taxation systems. 

However, as the empire grew larger and more prosperous, the government’s expenses skyrocketed, leading to financial strain.

Looking at this behavior makes me think of the action taken by American forces in countries attacked by it, as well as locally.

Grab the Gold

Interestingly, this information was more difficult to find than I expected although I had read of it previously.

The government seized citizens’ gold in 1933 forcing them to sell, then devaluing the dollar, costing the citizens who complied about 69.32%.

Gold was revalued from $20.67 to $35.00. Treasure hunters allege the FBI made off with tons of Civil War gold and covered it up. Black Ops money?

US troops found 200 tons of Nazi gold at the close of WW2 that had been looted from nations attacked by the Germans. 7500 sacks of gold bullion in a pile 75 feet deep by 150 feet wide plus cash and gold fillings from concentration camps.

The US appears to have seized what appears to be $500 million in gold from Iraq 2000 x 40 pound (18kg) bars were seized by the 3rd Armored Cavalry Regiment.

Was $34 quintillion in gold seized from the Vatican?  Perhaps $60 trillion? No one is telling. The stories abound, the denials equally so. 

During the Vietnam war there was no official policy regarding seizure of gold, however there were instances where individual soldiers or units confiscated gold during operations according to ChatGPT3.

I think we make the point here, that the militaries of both parties utilize similar tactics at this point of development of the state.

US Seized Gold during Vietnam war

One major aspect of profligacy was the extravagant lifestyles of the emperors and the elite class. Emperors sought to display their power and wealth through opulent palaces, grand feasts, and lavish ceremonies.

These events were not only costly to organize but also required significant resources to sustain. The emperors’ excessive spending put a strain on the treasury, contributing to the overall financial instability of the empire.

Watching the increase in wealth of the politicians in the US, on their modest salaries, it seems somewhat suspicious to see their collections of beachfront and exclusive area houses, not to mention their other assets accumulated in short order, once in government.

The frustrating element is how this is possible without favors and how the largess can be so widespread. I have remorse for the few honest people really trying to improve and assist society, being tarred with the same brush as the irresponsible others.

Another factor in the Roman Empire was the expansion of the bureaucracy and the army. As the empire expanded, more administrators and soldiers were required to maintain control over the vast territories. 

This led to a significant increase in government spending on salaries, pensions, and benefits.

The constant need for military campaigns, both for defense and expansion, put an enormous financial burden on the empire, as funding these campaigns required extensive resources.

The US having 780 bases worldwide immediately settles the first item in the paragraph above, (covered in an earlier article). Government expansion and huge overreach in the US is palpable at every level of life and business, with licensing for every endeavor, both personal and business. Not to mention, housing, ecology, sport, etc.

  • More interference in the way our personal lives and business lives are run.
  • More administration and reporting, greater control by the IRS. 

The military expansion now covers almost every inch of the planet and those not compliant are continually at risk. Taxation is no longer sufficient to maintain the edifice, so borrowing and printing of trillions is required to hold up the current structure.

Additionally, corruption and mismanagement of finances were prevalent within the Roman government. Embezzlement, bribery, and extortion were widespread, leading to substantial losses in the treasury.

Political instability and frequent changes in leadership further exacerbated the financial mismanagement, as new rulers often prioritized their personal agendas over fiscal responsibility.

If we ignore the forced narrative of the MainStream Media and read alternate media, we see the corruption and mismanagement of funds, when $ trillions are unaccounted for in government and military institutions, but your or my $600.00 unaccounted for, subjects us to severe penalties, we know there is no lack of accountability, there is a lack of will to discover the missing trillions.

To finance their extravagant spending and mounting debts, the Roman government resorted to various measures. They increased taxes on the populace, particularly on the lower classes, which further strained the economy and led to social unrest.

The government also debased the currency, reducing its silver content and causing inflation. This not only eroded the value of the currency but also disrupted trade and economic stability.

In order to keep the financial system afloat the  “US government’’, treasury, FED, have printed trillions of USD into existence. Up until recently they have been able to export the inflation.

Now, non US participants in the world economy are rejecting and moving away from reliance on the USD and inflation is being seen within the US borders.

As always it is the lower and middle class that suffer as the wealthy own assets able to compensate for the debasement of the currency.

The ‘powers that be’ are aware of the failure of their system and are preparing to move us onto their all encompassing CBDC (Central Bank Digital System).

It is important to note that while the profligate government was a significant factor, it was not the sole cause of the Roman Empire’s decline.

Other factors such as military overextension, barbarian invasions, and socio-political changes also played crucial roles. 

However, the unsustainable financial practices and excessive spending undoubtedly weakened the empire’s stability and hindered its ability to address other challenges effectively.

The US appears to have violated all the principles of good governance similarly to the Roman Empire. 

Unfortunately, and unless matters are taken out of the hands of the administration,  the demise of the US as we know it appears assured. Unless we resist the current pressures effectively, we will be securely enmeshed in its spider-like web. We will be the ones destroyed.

Gold and Bitcoin

The chart below shows the relationship between Bitcoin and Gold, when one outperforms the other. At present gold appears to be winning the race, but it is early days yet.

$BTCUSD:$Gold Bitcoin to US dollar/Gold - Continuous 19 July 2023

Gold and Silver Stocks

Our Gold v HUI indicator of last week proved correct. The stocks improved slightly over the physical gold metal. It is important to evaluate the additional risks in holding stocks over physical metals. 

When prices really begin to increase the potential for larger gains in stocks increase.

We, personally, hold both physical metals as well as stocks, balancing each according to perceived risk and performance of each over time.

$GOLD:$HUI Gold- Continuous Contract (EOD) Gold Bugs Index - NYSE - 13 July 2023

Gold and Silver

Will gold and silver continue to perform as shown below? I have no clue. It has certainly worked so far and the prices of both gold and silver in no way reflect the enormous printing that has taken place over the past few years using every excuse under the sun. 

The ‘underperformance’ of silver compared to gold should in my opinion be made up and more. 

I believe that the reserve banks of the world are aware that their currencies are on their last legs and they have no consideration for the people of the world and are on a last gasp spending spree. 

Gold and silver have been the money of last resort for thousands of years but, I feel that there is a place for cryptos as well, as long as the infrastructure supporting them remains in place and usable.

Gold this Millenium chart_2000-2023

Gold to USD Chart

At present, gold is outperforming the USD, a couple of indicators are showing this trade to be slightly overbought. I think it may still have legs to run further. Overbought can stay that way for quite a while before correcting.

$GOLD:$SILVER Gold Continuous Contract - cash settle 20 July 2023

Look at the Gold & Silver Charts

TodayLast Week
Gold Price$1,974.00$1,960.00
Silver Price$25.12$24.68
Gold: Silver ratio78.55:179.35:1
Gold Miners bullish percent index39.29 39.29
Dollar Index100.1999.66
Dollar IndexDow:Gold Ratio (BahaUS 35,224.00/Gold price, $1,974.00)17.8417.53
Current USA inflation rate (Dept. of Statistics)3.0%4.0%

Gold’s low of the week was $1,947.00 and the high was $1,987.00, now trading at around $1,974.00.

  • The monthly chart for Gold is a hold, looking neutral.
  • The weekly chart remains an ‘out’ but indicators are turning up.
  • The daily chart is in a hold looking slightly overbought.
$GOLD Gold - Continuous Contract (EOD) CME 20 July 2023

The low for Silver this week was $24.64 and the high $25.27, trading around $25.16 at present.

  • Silver on the monthly chart remains a hold and is looking more positive.
  • The weekly chart has given us a buy signal this morning.
  • The daily chart has given us a buy, is looking a little overbought, but still a hold.
$SILVER Silver - Continuous Contract (EOD) CME 19 July 2023

Our partner has stock of both gold, silver and Goldbacks in our vaults available in Panama.

Please contact us for more information.

Goldbacks Fort Kobbe Vaults Panama

On the charts, the blue vertical lines are our proprietary system buy signals and the red vertical lines are system sell signals – for information purposes only

Please contact us to arrange the purchase and storage of your gold and silver requirements in a safe, insured, location outside of your jurisdiction.

If you are interested in an overview of Fort Kobbe, you may want to have a look at this video: Mike Brown, Director, Fort Kobbe, International Vaults, A DotCom Magazine Exclusive Interview

This is my interpretation of the market and is not to be taken as financial advice. Before making any buy or sell decisions I recommend that you consult with your professional financial advisor.

Larry Simon
Larry Simon

Larry Simon was educated at the University of Witwatersrand, Johannesburg, South Africa and is an experienced businessman specialised in management, investment and finance.

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