Fort Kobbe Vaults Newsletter - Gold and Silver Charts

A look at Gold and Silver Charts (2022-11-17)

B. Rich - Hedgeye
© Hedgeye Risk Management, LLC with permission granted by Hedgeye, reproduction and republication is expressly prohibited.

I recently participated in a zoom debate between gold and crypto, the night prior to the FTX debacle became common knowledge.

It seemed that the audience were conflicted between the two asset classes. The crypto side are convinced that the crypto’s will win the day and are just starting their moonshot trajectory, the gold side rely on the five thousand year history of stability and substance of the metal. 

What everyone agreed on is the mismanagement of the system by the FED and organizations like them and working with them. Both cryptos and metals are a way of retaining autonomy over our hard earned money. The ‘government’ currency is being mismanaged, ‘printed’ by the trillions, utilized for black and other operations, used for bribery, and I am certain that I have just scratched the surface.

In terms of ‘government’ issued crypto coins, I think this is another step towards total control and disaster for the people in the making. It is just digitized uncontrolled, unlimited  currency as we have now in a much more dangerous form. They would have the ability to control every individual using their system as to if they will allow them to use the ‘coin’, where they could spend it, how they could spend it, what taxes could be levied, if and when it would expire, whether it could be saved for future investment or enjoyment.

It would be used as a total control mechanism, regulating where and if you could fly, what specifically you could buy, it could elevate or destroy your status if you say or do the wrong thing in the opinion of the powers that be. 

My conclusion is that an open source, non government controlled, censorship resistant, scarce, divisible, fungible, transparent, easy to use, trusted, decentralized, anonymous, portable, non-repudiable (immutable), secure, immediate, peer to peer, universal settlement system will work best. Bitcoin fills many of these requirements. In my opinion this would be the perfect medium for day to day transactions.

As far as gold, silver and other precious metals are concerned, they are a store of value and are real money. All duties and government imposts and restrictive legislation should be removed so that free trade and transfer could take place. 

Irrespective of the system of payment in use, illegal transactions will take place. Blaming cash or cryptos is a red herring. Corruption lurks in all systems; Looking at FTX it  appears there is  bribery, corruption, money laundering. In the traditional currency system, the huge ‘arms’ transfers as well as fines received by the largest banks for less than moral behavior and the black holes into which trillions of dollars have disappeared, it seems to me that the current system is totally corrupt and requires change. Just not in the way they have in mind. I think we must be prepared to take the consequences of dismantling the system as it stands and reject the proposed system in favor of something like that mentioned in the two paragraphs above.

The time is approaching. Now is a great time to prepare.

TodayLast Week
Gold Price$1,760.00$1,733.00
Silver Price$20.91$21.70
Gold:Silver Ratio84.01 :179.68:1
Gold Miners Bullish Percent Index41.3834.48
Dollar Index106.99109.23
Dow:Gold Ratio
(BahaUS30 33281.00 / Gold price ,1760.00)
Current USA Inflation Rate (Dept. of Statistics)7.7%8.2%

Gold’s low of the week was $1,753.00 and the high was $1,785.00, now trading at around $1,759.00. An extremely tight range, making a break out much more likely

The monthly chart for Gold has a few buy indications, but is not  buy yet. The possibility of $1,561.00 seems less likely. The weekly chart just triggered a buy. The daily chart is a buy but looking due for a correction.

$GOLD Gold - Continuous Contract (EOD) CME

The low for Silver this week was $20.75 and the high $22.73, trading around $20.77 at present.

Silver on the monthly chart looks positive  but not a buy yet. On the weekly chart we have a buy. On the daily chart, we have a buy signal, but silver looks overbought and due for a correction.

$SILVER Silver -Continuous Contract (EOD) CME

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.

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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