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Playing the Ponzi
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Why “Playing the Ponzi”? I view the entire monetary and financial system as something of a Ponzi scheme. Starting with currency that is created as debt, and running straight through a global economic model that is based on infinite growth in a finite world. This won’t end well. I’d go a step... More
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Playing the Ponzi
  • Gold Support Trend Lines 1 comment
    Apr 17, 2013 11:04 AM | about stocks: GLD

    Gold fell out of bed the other day and much was made of it. I hold some physical gold, though not enough to consider myself a "gold bug" by any stretch of the imagination. I have always viewed gold as a hedge, not an investment. I still do. GLD is an investment (trade, perhaps more accurately). But the physical stuff is a hedge to me. It's there for when the Dollar is worth 20% less in one day... or the value of physical gold starts to completely separate from the listed price in the paper market (as we've seen happen in Argentina with the value of U.S. Dollars). Anyway, here are the support trend lines in gold, as I see it.

    (click to enlarge)

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Stocks: GLD
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  • Welt
    , contributor
    Comments (189) | Send Message
     
    Thanks for the chart. I have a lot of faith in trend lines, especially when charting commodities.
    18 Apr 2013, 11:44 AM Reply Like
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