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A look at Gold and Silver Charts (08.10.2023)

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When I look at the upcoming BRICS meeting and the potential effects on the dollar, I feel that the group has a point, in that the dollar has been weaponized and any one of them may be the next target of the deadly weapon of being basically demonetized.

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I feel that the situation is critical and a non political currency is desperately needed. The dollar, in my opinion, is so well entrenched in all major markets that its imminent demise is not on the cards. Should the current administration continue in the way that it has in the past, it will self-destruct. This does not mean that it is not salvageable nor that one should not take protective measures against the possibility I am wrong.

COMPARISON BETWEEN THE COLLAPSE OF ROME AND THE US – PART 5

Encourage individualism rather than collectivism.

The concepts of individualism and collectivism in Roman times were slightly different to today’s interpretation. Roman society was built on hierarchical structures, where allegiance to the state and wellbeing of the community were paramount. Allegiance to The Roman Empire and Roman Republic was expected.

In general, if we listen to Ayn Rand, if the individual looks after himself, automatically he looks after those around him. In order for him to produce he needs to satisfy the needs of all that supply and assist him and purchase from him. Should he so desire he may return some of his profits to the community. (To my mind in the same way America was built).

  • Centralized government: Roman society was built on centralized government and bureaucracy in order to control its vast territories. Centralization made it difficult to adapt to local conditions and respond to local conditions.

The centralization of government control is a continuous process which is deliberately slow and insidious, which is leading to a similar outcome as the fall of Rome.

  • Economic Strain:  Collectivist emphasis led to a heavy tax burden to support infrastructure and military. This economic strain with widespread inefficiency and corruption contributed to economic decline and financial instability.

The parallels here are unmistakable. As I read more of the comparisons I begin to wonder how much is deliberate. 

  • Civic Duty: Roman citizens were expected to fulfill their civic duties, military service, participation in public life and voting. The state was considered more important than the individual.

Whilst the US today still has a voluntary military, rumblings of conscription are being heard. This does not bode well for the future. The licensing of almost every activity shows runaway control over the individual. I think of young kids and their parents being harrassed for putting up a lemonade stand. 

  • Pietas: Emphasized duty, loyalty and respect towards the gods, state and one’s family. This took precedence over one’s personal desires.

The desire by governments now to control every aspect of individual life including how much, where and when one can spend their hard earned money, (CBDC’s), what is acceptable speech, climate control measures (I wonder! I am still waiting for sea level to rise ten years later.) Perhaps an end to geoengineering and weather control will help the planet to recover itself as well as our responsible, practical care of our beautiful planet.

  • Social Cohesion: Roman society was characterized by a strong sense of social  hierarchy and connectedness. Families, clans and social class played a vital role in maintaining order and stability.

Whilst I believe that a system of people getting together for the betterment of all is essential, what I see happening is the forced integration of people who would not otherwise associate and deliberate disintegration of the family unit. This makes for strained relationships all around. People will happily associate and group with people of similar interests and concerns. I worry that what is being done currently is detrimental to society and a deliberate ploy. The acceptance and willingness to allow others to exist is critical, but that should not infringe on one’s own right to exist in the way one feels most comfortable.

  • Roman society was predominantly collectivist with pockets of individualism mostly amongst the elites. (Surprise?)

Similarly to today, the elites could express and monetize their individuality. Look at the ‘accredited investor’ class, who have opportunities open to them, which are not available to the man in the street.

Gold and Bitcoin

Bitcoin has given a buy signal, Etherium looks likely to give a buy in the near future. 

Bitcoin to Gold relative strength indicates further strength of bitcoin against gold.

$BTCUSD Bitcoin to US dollar CRYPT 10 August 2023
$ETHUSD Ethereum to US Dollar 10 August 2023

Gold and Silver Stocks

Our Gold v HUI indicator is still indicating gold outperforming the stocks. The rate of change indicator is slowing so we watch carefully now.

$GOLD:$HUI Gold- Continuous Contract (EOD) Gold Bugs Index - NYSE - 10 August 2023

Gold and Silver

Silver prices have been under pressure since mid July and gold since early May. The Dollar index has recovered from the high nineties to 102 plus and back to 101.98 this morning, which is certainly also helping put pressure on the metals.

Gold to USD chart

As the dollar increases on the index (green), we see gold (candles) retreat. This is pretty much the pattern normally as the chart depicts.

$GOLD DXY:$USD Gold - Continuous Contract (EOD) CME 10 August 2023

Look at the Gold and Silver Charts

TodayLast Week
Gold Price$1,916.00$1,947.00
Silver Price$22.71$24.20
Gold:Silver ratio84.27:180.40:1
Gold Miners bullish percent index 28.5739.29
Dollar Index101.98101.34
Dollar IndexDow:Gold Ratio (BahaUS 35,512.00/Gold price, $1,916.00)18.2818.53
Current USA inflation rate (Dept. of Statistics)3.2%3.0%

Gold’s low of the week was $1,913.00 and the high was $1,946.00, now trading at around $1,917.00.

  • The monthly chart for Gold is a hold, looking neutral.
  • The weekly chart remains an ‘out’.
  • The daily chart gave a sell two days ago.
$GOLD Gold - Continuous Contract (EOD) CME 10 August 2023

The low for Silver this week was $22.61 and the high $23.68, trading around $22.78 at present.

  • Silver on the monthly chart remains a hold, just.
  • The weekly chart remains ‘out’.
  • The daily chart  remains ‘out’.
$SILVER Silver - Continuous Contract (EOD) CME 10 August 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 Stockcharts.com 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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