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Topic: Gold 2021 (Read 1041 times) previous topic - next topic
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Re: Gold 2021

Reply #30
Patience

How the National Debt Impacts the Gold Price - Lear Capital

I'll take the 9% bet.  We could have the completion of a double bottom tomorrow with thing literally looking up.
I am not sure where the author's $20 trillion debt number come from as it is over $28 trillion and if intergovernmental is excluded, its about $22 trillion. It is fallacious to neglect intergovernmental debt as the funds do not exist, if one agency had to come up with a payment to another, the government would have to borrow, tax, or get the fed to print the money. That aside, the premise of his article on target.

Second issue is with the deficit numbers plotted. The author shows surpluses right after the turn of the century, but that is buying into accounting gimmickry as again it ignores intergovernmental lending. In my book it is deceitful to suggest anything other than the annual change in total debt as the annual deficit. This goes back to the social security lock box; but SS is basically broke and within the next few years congress will have to address its failures, but I will bet they do not consider collecting on their intergovernmental lending.

Re: Gold 2021

Reply #31
Gold looks like it wants to move higher
For Entertainment Purposes Only.

Re: Gold 2021

Reply #32
Patience

How the National Debt Impacts the Gold Price - Lear Capital

I'll take the 9% bet.  We could have the completion of a double bottom tomorrow with thing literally looking up.
I am not sure where the author's $2 trillion debt number come from as it is over $28 trillion and if intergovernmental is excluded, its about $22 trillion. It is fallacious to neglect intergovernmental debt as the funds do not exist, if one agency had to come up with a payment to another, the government would have to borrow, tax, or get the fed to print the money. That aside, the premise of his article on target.

Second issue is with the deficit numbers plotted. The author shows surpluses right after the turn of the century, but that is buying into accounting gimmickry as again it ignores intergovernmental lending. In my book it is deceitful to suggest anything other than the annual change in total debt as the annual deficit. This goes back to the social security lock box; but SS is basically broke and within the next few years congress will have to address its failures, but I will bet they do not consider collecting on their intergovernmental lending.

Re: Gold 2021

Reply #33
Meant to say that it is an older report.  It seems had to find 2021 articles at the moment.  Anyway gold completed a double bottom last week and i agree it looks like it wants to move up.  what I'm trying to understand is what's the delay.

Re: Gold 2021

Reply #34
The neckline of the DB is 1745. It needs 2 closes above to confirm the chart pattern and the target of a DB is 1824.
I firmly believe that PA (Price Action) can not be determined by fundamentals, news or correlation.  I have tried to make sense of it. Sometimes things line up as justification. Because they don't line up as often as they should, that tells me the times it does, is more of a co-incidence as anything.
For Entertainment Purposes Only.