See notes on chart. What happens to the price of Gold? Because of the degree of identity theft, online theft of financials, credit hacks, and the lack of CONTROL AND MONITORING (and taxing) of online usage and transactions, the Internet will be taken over by a one world agency empowered by all nations to manage it. Let's face it, when someone in N. Korea (for example) sells you something or hacks into your website, what can you do about it, nothing, because there is no advocate for you, no tools, no rules, no rule of law for virtual usage, no one to turn to for help. Internet Police (and a tax to pay for it-and then a million other excuses to tax) will happen sooner than you think. A United Nations of the virtual globe. And we will wonder which was worse, nothing or them. But the point is, once that is set up, then an "agency" to monitor all virtual monitary transactions will be needed, as well as a tax to pay for that. The big thing it will be designed to do is convert , into a one world digital exchange rate, which will value every world currency against the, you guessed it, Bit Coin. The question is, does this agency purchase the Bit Coin by eminent domain, under a new world law that allows it, or does it create its own digital currency, and simply make Bit Coin worthless. Or does it set the 'WORLD RATE" and simply devalue the Bit Coin, and say to them/it, thanks for testing the thing that radically changes the world, we will take that concept from here. You can laugh if you want to, but the chip is not far away. The one that you will be required to accept, and have it placed either on your forehead or the back of your hand or wrist, holding all your medical records at first, then all your other records, including financial. BTW, no more banks, at least brick and mortars, Ally Bank, cute commercials, and a smooth slick intro to get us used to no more bank lobbies. I am afraid folks that Gold , as a currency alternative will be largely worth only what it is for jewelry and much sooner than anyone thinks. For those reasons, playing shark tank for a moment, I am OUT. CHANGES ARE COMING, LOTS OF THEM, FAST AND WHETHER WE LIKE IT OR NOT. These changes, and many others are already effecting the market as we KNEW IT. Charts, patterns, effects, etc, etc, are all changing slowly, and soon not so slowly. The new age will require all traders to factor in these changes as they happen. And when will the home investor know about them, far after the institutional pros do, sure of that. The market is already rigged to them, and who gets the info first. How long will this go on that we 'SUCKERS" keep thinking the market is for us too. I say this trend continues until we home players realize this and just stop trading, then they will have to sell to, right, themselves. That won't be any fun, and too difficult, so what happens when there is no one to sell too? You fill in the blank __________. Bit Coin is the future folks, and its intro was the beginning of the new age, as we watch it emerge right before our eyes.
I have been a bear of late, as you you follow me know, and I've done well, picking and choosing, stocks, times, etc. But the correction did not come, and many, many are with me on this. Why not? You have to ask yourself, WHY NOT! Maybe its NOT coming. Maybe, just maybe, these digital changes that are planned, but have yet to be announced, will cause a moment in time of change and effect the markets, but ultimately cause more prosperity than ever, I mean ever. What wold it take for me to give up my privacy, my individual rights, for me to be followed , tracked, recorded, always, monitoring "everything" I do, I mean "everything"? Money, comforts, knowing my wealth is safe (in someone else's hands digitally I mean) always knowing I will have, not a lot, but enough? What would it take for me to TRUST a government, an agency, a group of people, enough to do this? Money, the common good, fill in the blank _______________________ . I see the world in stock charts, human behavior, historic events, fear and greed, our past, our present, and our future. Bit Coin, its intro was a tease, a temptation, and did we bite (pun intended), yes you did. Big time, because of the love of money, which is the ROOT OF ALL EVIL. Not preaching, just the facts. So what will it take, not money, because I believe money is not evil,in and of itself, it is the love of money.