- Update on the War on Cash
- Australia Moving to Cashless Society? + RBNZ on Digital Currency
- Gold Price: Roadmap To $1,750
- Slow Burn or Collapse?
Prices and Charts
NZ Dollar Gold Breakout – Head Fake
As we alluded to in last weeks article, “NZ Dollar Gold Breakout – About to Happen?”, the pullback in NZD gold that the odds favoured, did happen.
While gold did briefly poke its head above the red downtrend line, gold then dropped quickly below it down to the blue 50 day moving average (MA) line.
NZD gold is also not far from the 200 day MA – the red line on the chart. We can see this has acted as support since August of last year. Only dipped briefly below it on a couple of occasions.
So buying anywhere between the 50 and 200 day moving average lines is likely to be a good move long term.
Silver Still Stuck in the Wedge
Silver also bumped up against the overhead downtrend line. But it too has pulled back from there.
Now we will just have to wait and see if it heads back towards the lower side of the wedge formation above $22.
As we said last week, this wedge cannot continue forever. We’re edging closer to the day when a break out will happen. It will be a good idea to own some silver in preparation for when this happens.
NZ Dollar Bounces as Expected
The NZ dollar continues to be inversely related to local gold and silver prices. This week it bounced up off the support area around 0.68. After being so seriously oversold this was not a surprise. Now we can look for the Kiwi to find strong resistance around the 0.72 level.
Unsure About Any Terms We Use When Discussing the Charts?
Check out this post if any of the terms we use when discussing the gold, silver and NZ Dollar charts are unknown to you:
Update on the War on Cash: Australia Moving to Cashless Society? + RBNZ on Digital Currency
We’ve written extensively on the war on cash over the years. The latest news out of Australia prompted us to do a bit of an update on the progress towards a cashless society.
We also look at the latest bulletin from the Reserve Bank of New Zealand on digital currencies.
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Slow Burn or Collapse?
This week we were lucky enough to attend a small “fireside chat” with Catherine Austin Fitts. If you don’t know Catherine writes the excellent Solari Report.
We were lucky enough to hear her speak in Auckland a couple of years ago. (Looking back she has been quite on the money about the rising US dollar of late.)
But a small gathering of only 40 people was an excellent opportunity to hear from someone well connected in the US. Thanks must go to our friend Louis Boulanger for organising the event.
Catherine is of the opinion that we will continue to see a “slow burn”, rather than a massive collapse. That is a slow and steady “harvesting of the outsiders”.
However she did say America appeared to be near a tipping point and we should expect to see widespread civil unrest in the USA in the future.
This slow burn vs collapse is perhaps something that many people worry about and try to have an opinion on. Or maybe listen to others’ opinions on.
What do we think?
We could argue either way. But perhaps a complete collapse is not so likely as some might fear.
However the point is no one actually knows!
Listen to All But Follow None
Don’t fall for the mistake of following any one particular financial “guru”.
We like the line of “listen to all but follow none”. Which is perhaps a paraphrasing of the greek Euripides quote:
“The wisest men follow their own direction
And listen to no prophet guiding them.
None but the fools believe in oracles,
Forsaking their own judgment.”
Your Questions Wanted
Remember, if you’ve got a specific question, be sure to send it in to be in the running for a 1oz silver coin.
Why You Should Ignore the “Doomsters”
Once your eyes are opened to the realities of the global monetary and financial system, along with the multitude of conspiracies, it is easy to become locked in a cycle of fear and worry.
We try not to be peddlers of “doom-porn”. Of course we try to point out the undoubted risks that exist in the financial world. Risks that most people are unaware of.
But fear does sell. So you’ll see a new prediction of why the collapse is around the corner just about every other day!
However owning enough gold and/or silver to insulate you from financial dislocations, can provide a great deal of peace of mind.
This financial insurance means you can carry on with other investments or business and be safe in the knowledge you have a counter weight in case of trouble.
It is the old adage of prepare for the worst but hope for the best.
If you’re yet to “prepare for the worst”, then there’s no time like the present!
Call today to discuss your gold and silver options:
- Email: firstname.lastname@example.org
- Phone: 0800 888 GOLD ( 0800 888 465 ) (or +64 9 2813898)
- or Online order form with indicative pricing
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