Good Morning,
The US Dollar continues to decline in value with its current price this Friday morning at 97.185, close to its bottom at 97.155 (so far today). This past week’s high in the Dollar was on Monday at 99.585 and it’s been falling in value all week long.
The European Currency has been on a rally since the French Election as we witness the EuroCurrency trading at 1.12020 as of this write up and has been trading higher all week from its Monday low of 1.09405. This reversal is being portrayed as a win for the Euro Union because Le Pen did not win the French Election to an insider (when really it's a seasonal trade). Regardless of the Europeans statement the Eurocurrency will not stand the test of time because the currency itself is an abomination without a constitution. The Brexit is Britain’s refusal to join the future collapse of the currency, the Swiss saying “NO” in a rather loud way by reversing course just before the time to join, and the way Greece, Cypress, and Ireland, have all been treated only proves the point that this unions only concerned is to itself and no one underneath it all regardless of the levels of debt piled on each nation without care on its ability to pay. The trend of countries joining the EU is falling not increasing and if one understands how fiat works, if it ain’t growin, it’s dying!
Bitcoin, the new mercury in the markets thermometer, reached a high today of $2,000 in US$, another Web Bot hit extraordinaire which started from a low this week at $1,666 and is showing no signs of weakness as the popularity of this new idea gains traction against a system built to support itself under fiat.
Ethereum is also trading higher with its low for the week around $88.32 to a price right now at $116.09, a very sharp rise for the week.
Nothing to fear!! Says our precious metals market which just so happens to be under the control of the fiats (G7) with the Gold market price standing at $1,253.20, up from its low of the week at $1226.80 but also not at the high of the week which happened to be in yesterday’s trade of $1,260. The old school thermometer is currently not as specific as the cryptos and has been that way for a while which is why the Cyrpto’s mechanical system is re-adjusting everything in currencies.
Silver is trading at $16.82, up from a low of the week at $16.40 in an obvious shrug of the shoulders as it too seems to NOT portray the same climbs in value as the Cryptos have since the cryptos are not a debt based system.
Ripple Coin has been doing stellar with its trade now at .3414, up from its low this week of .1883 but also down from its high of .4325 as word was disseminated from on high that Ripple would only place out for consumption “only” 1 billion Ripple Coins a month for the next 4 ½ years. In other words, Ripple leaders will be “selling” out into the public purchase program 1 billion Ripple coins. At .43 cents a coin, Ripple leaders are receiving $430,000,000 in US$ cash each and every month for the next 4 1/2 years. More if they can keep the prices higher. Remember, Ripple is not mined and is IMO basically a fiat crypto because there is no limit to how many can be created and pumped into the system.
Here’s the future question of this crypto, How many will be distributed for liquidity purposes after this 4 ½ year period is over? 2 billion? 3? Or more??
I’ve also been reading about a northern European nation’s central bank will now house a bitcoin account for you so it can be made easier to buy and sell Bitcoin with its system. I can see the advertising agencies salivating over this one so I’ll be watching to see if this idea will expand into other nations central banking systems. It is important to understand that all banks globally have the right to take your deposits and use them for their investment purposes and that also includes BAIL INS when they screwed up (remember Cypress and its theft of 80% of everyone’s deposits?).
I would strongly suggest if one is investing in the Cryptos as well as buying physical Silver and Gold, if you are having your bank hold it for you because “they” say it’s safe, you are at risk of being the bailer. Take your coins and your physical purchases and keep them with you outside the system. Get a Trezor Crypto Wallet or something to hold your unprintable digits and bury your precious metals in the back yard and for God’s sake!! Don’t forget where you buried them.
Please support my reports and I will continue to write up my viewpoints in the hopes it helps clarify the moves into the future. Hold your metals and cryptos as close as possible and as always …. Stay Strong!!
I enjoy your keen insights and find it very informative!