Why You Must Understand the BTC Gold Relationship to Have Success Investing in Either Asset
And a Discussion of the Bank of Russia's Possible Role in Recent Lower Gold and Silver Prices
Editor’s Note: For those that first read this article in the first 10 minutes of publication, I apologize because the top RUB chart I posted was not the one Mr. Kim provided for me to publish this article. The correct chart has now been posted as of 10AM EST, 23 June 22.
Whether or not you’re on board with my thesis that the very reason BTC was invented, an event that then spawned the birth of thousands of other cryptocurrencies, was to divert money away from precious metal asset buying, especially as the risk-on environment exploded this year as US and global stock markets heavily declined amidst soaring corporate junk bond yields, soaring inflation rates multiples of “official” reported rates, and absolute carnage in cryptocurrency markets that quickly destroyed over $2 trillion of market cap that frankly I don’t see making a huge comeback, ultimately your concurrence or heavy disagreement with my thesis is irrelevant to the following.
As the tagline to this newsletter states, one promise I will never break here is to always tell you the uncomfortable financial truths that no other financial analyst will ever tell you. That includes telling you many things you likely don’t want to hear, especially if you’ve held gold/silver mining stocks through the descent of the last couple of weeks and held cryptos through the descent of the last seven months. But I’ll leave spreading the lies of hopium to the most popular financial newsletter writers in the world. You’ll never find that high level of disingenuousness here. The fact is that the ongoing cryptocarnage has accomplished the goal of my above thesis, heavily influenced precious metal markets, and is likely
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