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New Directions...

  • Paul Stephenson
  • Jul 20, 2018
  • 3 min read

Good morning and welcome to a Fantastic Friday and the beginning of a new direction with AtlantaCoin™ and this blog! Thanks to Doug and Joseph Meadows of David Douglas Diamonds & Jewelry for reigniting my passion for precious metals, numismatics, and writing! We’ve got some exciting plans that I’ll be sharing here on my website, Facebook, Instagram, Twitter, and possibly even YouTube. Until then, grab a cup of coffee and pull up a chair. Rare Earth greets me this morning with their hit, I Just Want to Celebrate.

Before I begin, I want to say that I’ve always enjoyed sharing my thoughts on the precious metal market. Unfortunately, physical Gold and Silver aren’t allowed to trade on supply and demand mechanics and instead are at the mercy of the Big Banks and their paper trades. Before you say conspiracy theory and click your heels three times, just hear me out. This week gold has had close to 800,000 contracts traded. To fully grasp this, remember that each futures contract controls or is worth 100 troy ounces of gold. Folks, that’s 80 million ounces! At the current spot price of $1,227 per ounce, the weekly trades were worth north of $98 Billion! Now we won’t see the Commitments of Traders Report for this week’s activity until next Thursday, but when the market does little of nothing and has that much activity it usually means most were short trades used to hold Gold from advancing.

And this is the way the precious metals market seems to have been manipulated for close to a decade. Readers get tired of reading about it. I get tired of writing about it, so that’s why I have walked away from blogging. If, as I see it, the precious metals market is controlled by the Big Banks and not by economic market conditions, then no one can “read” the market and there is no safety for this commodity. But then again, from my perspective, precious metals have never been a good investment and will only really increase in value if the value of money erodes.

It’s never been a good investment you say? Well, here’s what John Wasik opined in Forbes Magazine…

"Before you gold trolls start hurling cyber-insults at me, I have to confess upfront that I don't mind if anyone owns gold. I have a few coins myself. But I don't think gold is a good investment. There are lot of people getting scammed into buying it in various forms. With the recent presidential election, the fear factor is once again in play.

My reasons for not seeing gold as an investment are straightforward. Unlike a bond, the metal pays no interest. There is no dividend. It may not protect you against the worst forms of inflation, which are often in health care. And there is no implicit guarantee that it will appreciate in value. I know this describes most investments. But at least if you invest in a basket of major stocks, although not guaranteed, you are likely to receive dividend payments. If you buy gold bullion or coins, this is not the case. And I also acknowledge that investors are wary about paper currencies. Sure, they are based on the faith and credit of a government, but U.S. Treasuries Securities have never been defaulted upon in anyone's lifetime. If that were to happen, the entire world financial system would collapse -- and gold wouldn't do you much good.

Gold's value, for the most part, is based on fear. Investors buy it when they think currencies are shaky or whole economies are wobbly. But ever since the disastrous crash of 2008 -- with Europe and the U.S. struggling to recover -- gold has been a poor investment."

Paul again... Before I continue, let’s look at this morning’s New York Spot Price.

All of the precious metals are rebounding this morning with Rhodium leading the way up +20.00, Platinum and Palladium are both up +18.00; Gold is up +6.50, and Silver is up +0.12. Let’s keep our fingers, toes, and eyes crossed that it continues to increase.

Okay, so what kind of plans do I have as we begin this journey? Well, what I do know is writing about Big Bank manipulation isn’t fun and gets boring real quick, so starting next week I’m going to start sharing interesting stuff about numismatics and how they can tell the history of people and nations. I’m figuring that I’ll write about coins on Mondays, Wednesdays and Fridays, and leave Tuesdays and Thursdays for precious metals. At least for now. Anyway, we’ll see how it goes and make changes where and if they’re necessary.

Well, I’ll let that be it for today. Go out there and make a difference! See ya later!

*Disclaimer: Precious Metal Musings™ is written for entertainment and news purposes only and should not be used in making purchases and/or sales of precious metals.


 
 
 

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