Ha, you need to lurk more
I have been investing in gold since 1992. Wow, that's a long-ass time - it might explain your frustrations with gold. Understandable.
Nevertheless, what you first suspected with me might be the case with you - you sound pretty uninformed on gold!
Anyways, let's let that discussion be now. Hopefully both assets will go through the roof...
Now you are being mildly insulting. I invested significantly in 2002 to 2004. I then sold out near the highs in 2010/2011 to get into BTC.
I am not at all frustrated with gold and one of the few here on this form who would even tell you it is worth holding at all.
You realize gold is manipulated, you just do not understand how much. You assume incorrectly that the manipulators will fail at their game soon. You fail to understand this game has been going on for 500 years. They know what they are doing and the fact that you think you know better than them is just laughable. You might get lucky a couple of times on calls but with arrogance like this in the market you will get destroyed in the end.
Hey Goat,
I have a kind of newbie gold-manipulation question... I've never really understood what it even means to manipulate the price of gold. Is there an ELI5 version of how the price of gold is manipulated? Or is the only answer long and complicated and I have read books about it to know...
Thanks in advance!
The very simple answer is about 5 banks get to just make up the price of gold and that is what it is. This is not a transparent process.
thing is, people can "naked short" the PM market
this means they have no gold to sell, they don't barrow gold to sell, they use Dollars to short the market.
gold bugs hate this, and say that the reason gold is going down is because the FED and banks are naked shorting the PM market to oblivion in order to keep the appearance that the market isn't going totally crazy because everyone sees the end of the dollar in sight.
which is believable, if gold was allowed to run up to 15,000$ an ounce, poeple might start to talk about it, and then they would be exposed to the whole USD is worthless fiat thing. and they would lose confidence in USD and run to gold, then the USD would be toast....
Bitcoin is not so easily manipulated, no one can naked short bitcoins...
in conclusion, bitcoin is what will kill the dollar, not gold, but gold maybe a good buy right now, because its been heavily manipulated down, once the system collapses the manipulation will stop, and it should be more valuable, but keep in mind that gold has value because it is seen as a safe haven should the system crash. clearly bitcoin is the safe haven should the system crash, so whats an oz of gold good for now. Gold sucks balls, silver is equally manipulated and carries less speculative value.
final conclusion, buy silver because bitcoin is what will kill the dollar.
