The Gold vs. Bitcoin Cage Match: Place Your Bets
The Gold vs. Bitcoin Cage Match: Place Your Bets by
TDC Note – When was the last time a “new currency” crushed the banksters?
I can spot an Elvis fan a mile away.
Big hair, jewelry, wide collars, an open shirt … and self-confidence.
I know there must be shy fans of the King out there, but apparently, they don’t wear it on their sleeves. If you’re an Elvis fan on the inside and the outside, your sartorial style will reflect it.
So it was with this bitcoin-bug.
He’d cornered me at our Total Wealth Symposium in Bermuda last year. He wore blue suede shoes, a dead giveaway. He asked my opinion of the cryptocurrency … but before I’d had a chance to respond, he told me what it should be.
“It’s the single biggest innovation in world history,” he exclaimed. Apparently writing and the wheel were small potatoes. “If you’re not into it, you’re crazy.” Jarringly, the accent was more Long Island than Tupelo, Mississippi.
“Perhaps,” I replied. “But the real question is, into it for how much?”
Events are asking you that question right now…
Bombs Away, But We’re OK
Last week I got a note from a reader complaining that I talked too much about the impact of politics on markets.
Then the governor of Guam told his fellow Guamanians not to look directly at a nuclear fireball, if one should appear courtesy of North Korea. The markets tanked.
As I was saying…
As it always does, the gold price spiked, hitting $1,294 an ounce today.
Gold has a habit of doing that. The chart below looks like an EKG rather than price movements. Up, then down … up, then down … by oddly regular amounts.
Overall, gold is up more than 12% this year … but if history is any guide, those gains will halve shortly.
Continue Reading / Banyan Hill>>>