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https://www.zerohedge.com/commodities/scotia-sells-comex-ny-vault-slow-motion-exit-gold-silver-markets

Investing In Agorism. James has 3 guests that cover lots of “out of the box” thinking and ideas that are worth hearing and considering.

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Back in 1999 how many people were investing in gold be physical or stocks. All the way to gold $ 2000 you’d hear people telling you equities are the way to go. I bet some got jealous though when it did go including sliver.
One thing was right is that it’s heavily manipulated.
Just like PMs Bitcoin is heavily volatile. But what you gotta think is just like gold stocks or physical if you sell it what are you gonna trade it for?
I think he’s right about the emotional level but personally I can speculate that Bitcoin will still be volatile but in demand until there is no more to buy. At that point you can only get them on loan and people might then or even before them start looking at cheaper forms as long as they can trade tangibles with them.
Kinda like when the major pm producers get high people move to the juniors next then the micro pennys some not even producing on sentiment, and after that cycle it’s rinse repeat.
Even if gold gets to 5000 or beyond the same question might come to mind. If you sell it what are you gonna trade it for? Some cheap made in China fad that will fall apart in short order? A new gaming set that will be old news come next year?
Some might sell sensing a top wait to but back others won’t by back others sell to late some will never sell less some life and death decision.
I agree it’s not wise to put all your money in one basket no matter how bullish or certain you are. You can be right and still get hurt.

the scum are taking the gloss off in the last 20 mins or so, knocking all the shares back off their highs…the scum just never rest.

Plus of course, now the SM is weakening into the close. PM’s get lent on……but of course never rally with the SM.

Odds on a 2nd good day increasing, dramatically…cretins

“In the March issue of my newsletter, The Oxford Income Letter, which comes out tomorrow, I mentioned that I recently remarked to a friend, “It feels 1999-ish.”

Investor sentiment is extremely bullish. Not just bullish, mind you – unearned overconfidence is off the charts.

I’ve been involved in the markets for 31 years, 25 of them as a professional. It may shock you to know that I am never extremely confident. Do I believe in my convictions? Absolutely. Do I believe that the market could prove me wrong at any moment? Absolutely.

I’ve seen too many really smart people get their heads handed to them because they not only were wrong but also invested too much in their position or refused to sell when it was clear they were wrong.

I was reminded of this investor overconfidence the other day on Twitter (you can follow me @stocksnboxing).

CNBC posted an article about mutual fund manager and fund family founder Ron Baron. He said he doesn’t invest in Bitcoin because he doesn’t understand it despite being a “fairly sophisticated investor.”

Someone replied, “Enjoy staying poor.”

“”Maybe Bitcoin will skyrocket and he will miss out on further riches.

But the hubris of an average Joe to tell a multibillionaire to “enjoy staying poor” because he doesn’t invest in Bitcoin is not something you see at the bottom of a cycle.

Then there’s an article I read about young workers putting all of their retirement money in Bitcoin. One 30-year-old stated, “It’s the best long-term asset to hold.”

Maybe he’s right. But you still don’t put all of your money in one asset. That is extreme optimism.

It’s not just in Bitcoin where sentiment is through the roof. Special purpose acquisition companies (SPACs), tech stocks and heavily shorted stocks have all caught investors’ attention, and those investors have driven the stocks higher.

Bank of America recently said bullishness among sell-side analysts is so high it’s about to trigger a sell signal. (To get a better understanding of what the sell side is, click here to see my recent video about it.)

In other words, Bank of America is saying its peers are too bullish.

Why shouldn’t people feel bullish?

The COVID-19 vaccines are giving millions of people hope that they can begin to resume their normal lives in the very near future. That optimism will surely spill over into the economy. Low interest rates mean cheap money is available, and a new stimulus package means free money is coming for many people. And with spring around the corner, it makes sense that people are feeling hopeful – perhaps for the first time in a year. And that good cheer is reflected in their bullishness. Above is a well-known chart that shows the emotions associated with investing. Where do you think Bitcoin investors are right now on this chart? How about stock investors? I’d say Bitcoin investors are between “thrill” and “euphoria.” If Friday hadn’t been so strong, I’d have said stock investors may be tipping toward “anxiety,” but the rally likely kept them on the top of the hill rather than on the downslope. In my 30 years in the market, I’ve seen this movie several times. I know how it ends. In his iconic song “1999,” Prince sings, “2000, zero zero, party over, oops – out of time. So tonight I’m gonna party like it’s 1999.” Little did he know back in 1982 when he released the song, Prince was singing about the dot-com boom and bust. Sentiment today feels awfully similar to sentiment in 1999. I’m not saying we’re out of time. I don’t try to time the markets. But 30-year-olds putting all their eggs in one speculative basket or believing anyone who thinks differently is a moron – including those with decades more experience and successful track records – doesn’t happen at the beginning of rallies. It happens near the end. Watch sentiment closely. If it gets any more extreme, it may be time to get very cautious. Good investing, Marc P.S. Speculative investments like Bitcoin haven’t proven their worth and resilience over both up and down markets – but dividend stocks have. That’s why I’m presenting on a special class of dividend stocks called “Dividend Disruptors” at the”” ================================== Mr.Copper COMMENT: Thanks for the info. He makes a lot of sense re over confidence. When he mentioned 1999 2000 all over again, it reminded me. I stopped working around 2000 and started trading stocks, because I KNEW the Dollar was way too high (120 index) and they had to drop it. I think heating oil 42 cents, Copper 50 cents, Silver $4, Gold $250, baby Bush had to put tariffs on steel and lumber it got so cheap, until lower dollar raised the prices. It was the bottom of a 20 year commodity deflation, and start of the commodity bull market And a top for the Dow 1999 top etc didn’t break even until 2006 7 years nowhere. I had a good 12 years after 2000 to 2012-13. If he’s right, and the over priced stuff drops, and commodities gets higher from these highs, it makes sense. Without Coal, Oil and Metals, there would be nothing here. Wooden and stone tools and weapons, horses for travel, no electric either. The  whole system is a mess, trying to right itself. USD 2001 high: https://www.mrci.com/pdf/dx.pdf Home page: https://www.mrci.com/pdf/index.php

That about summed it up although pieces like want for commodities like oil led to wars too. Now we see China slowly absorbing everyone’s commodities and heard they control over 70 percent of our antibiotics while buying up pertinent and strategic businesses and no ones concerned. Well Trump was but no one cared about that until they do and by then it might be too late. They won’t need a war at this pace they can just cut everyone off and that will be about it. If they manage for the majority to go all electric even better lol They’ll control and own all the components of electronics, medicine, intellectual property, defense, communication that is electronic. Now we have a president who has already been paid millions through his family to obtain these things.

I started noticing them when I was about to buy a copper stock that was based in Canada if I remember and that was in the early 2000s. I watching the chart and saw a likely target. All of a sudden news came out China was buying it and the stock few up but would be the last time. They bought it went private and delisted.
Then I noticed they were also in Australia and working on Africa and on and on. I’m thinking don’t these Governments take notice. These aren’t just independent companies it’s the CCP. If they suddenly did what places like Mexico or Argentina do and nationalize or even restrict them from polluting or using up other resources like their water for mining they will consider it a act of war. As far as I’m concerned it’s just another currently unarmed invasion like the border while in the process unarming us and our ally’s of our resources.

If nothing else, after a big correction, say below 25K, bitcoin could be a good momentum trade. As for a long term store of value, maybe. If some Gov allows taxes to be paid in BTC, now that would send it to the moon.

MG

Everything you said, is pretty much right. But in my view, the whole shiny new experimental system they created in 1913, had its way, with unbacked paper money, enabled or created a lot of great advancements WAY ahead of time that would normally come much later.

The unbacked paper money, also enabled or created a lot of wars and destructions of lives businesses, economies and massive acres of countries buildings and real estate destroyed that had to be rebuilt.

That “system” also grew to need more and more cheating and lying and manipulation to keep it going. Plus the Unit Of Account” allegedly the US Dollar, lost 95+ percent of purchasing power since 1913.

So, in my view, I’ve said this a million different ways, wore out, culminated, crashed (like the hollow trade center buildings re 9/11) and the whole Fed Res trip from 1913 went into reversal transition after 2008.

The Bit Coin is a result from the old dying system, and if the US Dollar goes into reverse, like everything else, and GAINS value, either manually or natural evolution, nobody on the planet  will want any other new fangled unneeded store of value BUT the shiny new US Dollar that’s backed by Gold.

How would that unfold? Is another story, and I’m going to lunch now, and then wash my 2001 GMC Jimmy, and maybe my 1989 Chevy “shorty” Van too, already has collector value.

Well look at it this way. What ever dollars you have be Juan Yen Usd Euro more can be printed and just like poorly managed stocks diluted.
Bitcoin cannot be diluted or shorted. Unless hacked no one can just reach in and take it because they don’t like what you said or didn’t comply to or who you voted for like they did to the Tea Party and apparently with that 1.9 billion pretty much fake relief package the demos will want to fund more of our money to the IRS to try again.
It’s a safe haven. Look what happened when China tried to ban it. It went up. Just because they ban it in one country doesn’t mean they stop it like they can gov money.

Now you can even make money off it by lending it I think kinda like call options so it’s growing and other coins are becoming interlinked but not all. Cant trust every new one that pops up anymore than shell operations.
Say you got some country they needs money and doesn’t want the political or fiduciary manipulation that goes with it Bitcoin would serve the purpose and wave thank the country who banned it as people move their money towards them.
So it’s just a alternative dollar away from greedy hands and currency manipulation. Even gold and silver can’t prevent manipulation but like gold in silver in some respects just Bitcoin if it was manipulated in one country it can go up in another.

Teuton’s Joint Venture Partner Tudor Gold Reports Initial Mineral Resource Estimate at Treaty Creek: 19.4 Million Ounces of 0.74 gpt AuEq of Measured and Indicated Mineral Resources and 7.9 Million Ounces of 0.79 gpt AuEq of Inferred Mineral Resources

Teuton’s Joint Venture Partner Tudor Gold Reports Initial Mineral Resource Estimate at Treaty Creek: 19.4 Million Ounces of 0.74 gpt AuEq of Measured and Indicated Mineral Resources and 7.9 Million Ounces of 0.79 gpt AuEq of Inferred Mineral Resources

Ok wild scenario now. We all know how the Gov’t/Fed like to pump up money supply to pay for expensive things, like wars and moon landings foreign aid etc etc. We’ve seen in the past, when they create too much money, like too much glue or sealant, it bulges out to other sectors of the economy. note the roaring 20s and crash, after 1913’s excess money printing for WW I. Then took in all the gold in 1934 (USA now bankrupt) started the new money printing “game” for Korea, Vietnam moon landing, that resulted in the so called “inflationary 1970s”.

Tons of good people’s money went into Silver 1970-80 to $50 from $3. They later raised the rates, and all that “parked” Silver money supply got wiped out, evaporated. This way they can do a new round of excess money creation.  The 20% interest rates also SUCKED money out of circulation.

The bitcoin? If trillions get sucked into it, “dead money all in one spot” they can wipe it out in a NY Minute. Naturally they will wait until a lot more money supply gets funneled into that area.  Like a big sponge mop. They “spill” money into one area, and sop it up in another area.

The media is sure talking up BTC. One more reason not to trust it.

Fingers crossed for two days in a row!

Bitcoin is the new, shiny object on the seen and to me its’ performance is pretty unbelievable. I get that there are only 21 Million Bitcoins to be found, therefore the price?

But then, there are only so many Tom Brady and Mickey Mantle Rookie cards that are in perfect condition as well, although I did see that a Tom Brady sold for over a million bucks – not sure if it was autographed, and a Mickey Mantle sold for multi-millions – not autographed.

Is that how we value things now? If so, then how do we value the dollar and US Treasuries with trillions of them available?

How do they have any value at all?

Gold takes blood, sweat, tears, and sometimes death to unearth, and what is its value relative to dollars or treasuries?

We all know the metals are a wild ride and the purpose of a bull is to buck you off before the end. Ive sat through so many corrections in G and S that I’m numb to them. (LOL, seems Im numb to the tops too!), I was ready for 1475 gold yesterday. Short term, you better have nerves or a few beers watching gold. Long term; has the Fed or any CB found monetary discipline? Has the Dow Gold ratio made it to 1 to 1? Has the public jumped on board? Have we seen a technical blow off on the charts? Not even close. Will it happen in the next reasonable amount of time? My guess, probably.

MG

I don’t think that Bitcoin or any of the digital coins are trying to complete with gold but they too are just a alternative to manipulated currency. I think we have a potentially volatile situation with the dollar that can affect gold too as we not only have inflationary threats from our newly incompetent administration but economic and homeland border threats and what seems to initially or at first happens to the currency of that country is money tends to go home driving it up.
I saw it happen in Japan after the tsunami but didn’t have the heart to jump in under the circumstance. We saw it with the dollar with the initial Covid panic after which it headed down and trying to find a bottom and bouncing for now. So we could see volatility of both.

Yes, the chips seem to be falling our way today so far. Midnight Gardener brings up a good point about follow thru, will we get any tomorrow if we hold gains today?

Heard a guy on FOX business raving about Bitcoin and saying gold’s performance this year has been pathetic – down 12% YTD.

No argument there I suppose. That being said, that’s the kind of crap I want to hear in the media and in articles on ZeroHedge….

Vote! Vote!

The big question is do we get follow through tomorrow?

Two big up days is a rare treat for us gold bugs.

Place your bets, place your bets.

MG

Could be a great day for us … knock on wood.

It happens once in a while you know.

Commodities trader Mercuria Energy Group Ltd. struck a deal last summer to buy $36 million of copper from a Turkish supplier. But when the cargoes started arriving in China, all it found were containers full of painted rocks.

The saga unfolds like a gangland thriller, with the Swiss trading house saying it’s been the victim of cargo fraud. Before its journey from a port near Istanbul to China even began, about 6,000 tons of blister copper in more than 300 containers were switched with jagged paving stones, spray-painted to resemble the semi-refined metal.

https://www.bloomberg.com/news/articles/2021-03-09/trader-buys-36-million-of-copper-and-gets-painted-rocks-instead

Eric Sprott Announces Changes to His Holdings in Garibaldi Resources

https://finance.yahoo.com/news/eric-sprott-announces-changes-holdings-202300125.html

Roxgold Extends Koula Down Plunge with 26.5 g/t Over 16m & 18.5 g/t Over 15m at Séguéla Gold Project

https://finance.yahoo.com/news/roxgold-extends-koula-down-plunge-113000361.html

Ely Gold Royalties (TSXV: ELY, OTCQX: ELYGF) Sells Claim located on the Hercules Gold Property, Nevada

https://finance.yahoo.com/news/ely-gold-royalties-tsxv-ely-114000248.html

Eric Sprott and Crescat Capital Complete Investment in Goliath Resources Limited

https://finance.yahoo.com/news/eric-sprott-crescat-capital-complete-124500360.html

Renforth Drills 21.45m of 5.57 g/t Au at Wholly Owned Parbec Open Pit Gold Deposit

https://ceo.ca/@accesswire/renforth-drills-2145m-of-557-gt-au-at-wholly-owned

Osisko Mining Orders Milling Equipment for Windfall

https://ceo.ca/@nasdaq/osisko-mining-orders-milling-equipment-for-windfall

Aris Gold announces drill results at the Marmato Deep Zone, including 78.1 metres at 3.43 g/t Au (true width 30.8 m)

https://ceo.ca/@newswire/aris-gold-announces-drill-results-at-the-marmato-deep