Wednesday, November 5, 2014
DEAR WHITE-ASS CRACKERS: quit saying gold's chart has broken down
Well lookie this!:
Ermagerd! Gerld has berken dern!
Um, no. Actually it hasn't:
Gold still looks fine ex-USD.
What that means is, if you aren't an American the price of gold still looks fine.
Gold still looks stable in Canadian dollars.
Also fine in Euros, nowhere near the Dec 2013 low. Looks to have bottomed quite thoroughly in Euros, actually.
This gives us a fun opportunity to watch something cool unfold: if the Americans decide to puke every last ounce of gold because they refuse to admit the rest of the world exists and has their own currencies, and yet the price of gold still doesn't break down ex-USD after all that, then there will be a bona-fide bottom made in the chart.
I therefore encourage American white-ass hedge-fund punks everywhere to sell all the gold they have and go as short gold as they possibly can.
Go ahead! Just try to force gold below €875! I dare you, Whitey!
Man, this is going to be fun to watch!