The US dollar continues to show its true colors as it bleeds off purchasing power, meanwhile cryptocurrency's are surging higher.
Today Bitcoin hit a new all time record high breaking above $2900, a trend which will continue.
The action that we have been seeing as of late with regard to the US dollar should be a clear sign of lack of demand for the dollar in a failing economy. With money velocity, that is the rate at which cash is moving through our economy, near historic lows it is easy to see that there is in fact no sign of a recovering economy here in the United States despite what the mainstream media and their corporate governors want you to believe.
The falling dollar value occurring simultaneously along with surging cryptocurrency's is an "in our face" sign that the Smart Money is diversifying away from the dollar.
Not to be ignored, is the recent high demand for both physical gold and physical silver, again a sign that the Smart Money no longer believes in "king dollar."
With regard to the US dollar, the writing has been on the wall for a very long time however, the recent surge in the value of cryptocurrency's, who's market capitalization has now reached over $100 billion, should serve as a clear sign that the US dollar is not where you want to be.
Gregory Mannarino
Excellent correlations Greg... Keep Up the Great Guidance !!
Have a Great Week !!
There are some crazy opportunities in cryptos and precious metals right now. Stratis, Sia, Waves for cryptos - Sia is at $0.02 a coin. Stratis I think is at like $10.70.
And of course, silver the most undervalued asset.
Anyone else think it's funny Nigeria's stocks have been the best performing assets all year? Booming stocks do NOT equal a healthy economy! Don't believe these clowns on CNBC. Thanks for some great insights as always Mr. Mannarino.
Up voted! Yes it's not hard to believe that crypto's are doing as well as they are. People in the know are tired of all the manipulation and basically rape that goes on in the financial world. I wonder what's going to happen in the world of crypto's when the other 99% that aren't in the know catch on and start buying, trying, and investing in it?
You mean when the other 99.9% wake up to Cryptos - the cryptos are brand new my friend. I have asked several people I know over the last few weeks, "Have you heard of Bitcoin?" The reply is, "No." And they do not even follow with a question of inquiry like, "What is that?" Along with that fact is this; The big Corporations are soon to be pouring many more millions into the Cryptos with each passing month - That especially goes for Ethereum, because it has so many uses for the Business world to come.
My thoughts exactly! Good points. I do need to check out Ethereum a bit more as I'm lacking to how it stands against or with BTC?
Great info Greg. Thanks again for introducing me to steemit. ROAR
Yes, the writing is on the wall. I can't hardly believe bitcoin is above $2,900. Thanks so much for getting me into Steemit.
Greg: you were one of the first people to really open my eyes years ago to what was taking place in the financial world. Friends and family have been calling me chicken little, Mr. negative, and a lot of other very uncomplimentary names for years because I have been trying to warn them about what is coming. For my own sanity I quit the discussions with most people. That normalcy bias is a brutal thing to over come. I really believe we're in the thick of it now and the sheep better wake up. The hour is late.
At least greg got me into steem without having to invest a penny
Yes, and gold is heading towards the magic 1300. Just as you predicted lately. Steem has already overtaken the Euro (by far). Crazy times...
Since many cryptos must be first converted to BTC, I would say stick with BTC.
That's a fine way to look at it...keep doing that if that's what works for you. BTC is the onramp to the rest of the space for sure...However, once you've made an obscene amount of wealth in BTC, then it becomes logical to diversify. Coin ICO's are a way for normal people to participate in a space that was previously off-limits to normal people..venture funding. I find that VERY exciting, because I've been an investor and trader my whole life and have never been able to do venture capital. Yes many ICO's will fail....just like in any VC deal. But there are some very interesting projects out there, and it's great to be able to participate in them.
Thank you for sharing.
"Become your own central bank"...G.Mannarino, long time ago
Excellent work Greg!
My USD Index charts have been giving off bearish signals since late-Q1, which has increased since. Great news for Crypto's and PM's going forward..
Check out my latest USD Index chart here.
https://steemit.com/money/@jagstertrading/the-us-dollar-index-continues-its-weak-recovery-with-weekly-momentum-remaining-increasingly-bearish
Thanks for the great update. Yes its a wonderful day when cryptos, gold and silver are rising!
When will be the next hard correction in crytos? Maybe 5000$ and the back to 3500$ and then up 10000$! This thing is so fast you can not keep up with buying! But hopefully you keep up the good work Greg!
Just about every major crypto market increase sees a decline. We have recovered from the 90 Billion to below 60 B drop and now have hit the 100 B mark. My guess is that fast increases with huge one or two day drops then quick recoveries will continue for the next few months. Bitcoin I believe will basically follow this same trend. My guess is $3300.00 will then see a drop to 2500.00 then up to the new base of 2800.00 and then on to 3500.00 with a drop to perhaps 28 then a new base of 3000.00 + .... and so on and so forth .... up a few hundred and then a drop and then new base. Just prior to August 1 we might see something crazy if the talk of a fork continues. Exciting :)
Cryptos, The dark horse. Out of the blue. The game changer. I always leave room for miracles.
I agree with you totally Greg. I've happen to create an animation demonstrating how the dollar has lost value in the last 100 years.
nice job, well done, liked the music...
Wow 100B in crypto now. The real challenge is predicting how world governments will combat their currencies losing value. I would hate to own a large amount of crypto dollars that become illegal to have or use.
Cryptos are world wide now so one country outlawing or trying to block will only have minor long term effect. Some things are out of the power of banks and governments to try to control...look at American politics :)
I gonna make a bold call now and say Bitcoin and other altcoins are seen as safe haven asset.... I am not seeing traditional safe haven assets like gold, silver and yen seeing significant inflow if we look at it from a historical point of view..... lets take 2012 & 2013, in 2012 gold baseline was around was 1580 and had a high of 1760, its no where close to that, so its not seeing that kind of money coming in. 2017 could be seen as the year of uncertainty, with the Trump trade paralyze and the political chaos taking place around us, it isn't reflected in Gold. Qatar situation is terrible, its stock market, bonds are plunging as the situation plays out. Saudi recently revoke their airline license. Just last night, within 24 hours some 7.2 billion US dollars were pumped into cryptocurrency lifting it above 100 billion cap. This year 2017 has been bitcoin best year on record, its up 2, 084.34 (357.51%). That's an incredible growth and inflow. We haven't even touch the other altcoins, so I am making the case, Bitcoin and altcoins are seen as safe haven asset. Keep an eye on the UK election and the Qatari developments an you would easily see Bitcoins and altcoins blow past their historic highs and sustain it.
Agree with this obviously. I do have worries though. Always second-guessing, even in this! I worry about government intervention in our little world. The reason I worry about that is because I have studied the history of our previous century. Governments will not give up their power without taking many of us down with them. It is now a matter a public record that the US government tortures its enemies. It is also now public record that US will even murder someone on the streets of Washington DC (Seth Rich) if they cause problems for the wrong people. They will NOT just say.. "OK, use Bitcoin and screw the Dollar if you want, and yeah complete transaction privacy is fine too"... Nope. Not gonna happen. So..what will they do? Based on how they took down Occupy, I have some clues...likely I will write an article on that for one of my first Steemit submissions :-)
Steem also with a good performance today!
The choice is clear. Buy dollars and put them in a bank where the only person who benefits is the banker, or convert my dollars to satoshi and precious metals, where my wealth multiplies and stays under my control. Keep beating the drum Greg.
Markets are out balance, but silver is still cheap. It looks like silver is going to have a nice move up over the next few months. Stack while its cheap!
Tech mania all over again? Bitcoin stocks on a tear last few days a something new and exciting to consider. Here is the latest one I did a quick write up about, up 100% just today. Links in the article to the other ones as well.
https://steemit.com/cryptocurrency/@motowngold/1-more-bitcoin-stock-coin-citadel-cctl-0003-share-at-time-of-writing
Thank you!
im hardly suprised bitcoin is almost at 3000
Hello Greg , love your work.
Steem is on a bit of a run as well,at least in relation to the Aussie dollar.
Keep the good info coming mate .Upvoted.
Thanks Greg! You should read my analysis of gold. It seems like they want to push the price down as it's about to close above a very major trend line. Today's close is very important! https://steemit.com/money/@msg768/gold-breaks-crucial-trend-line-where-are-the-manipulators
Trump sticks a single finger into just one hole, but the whole wall is leaking, crumbling in fact; maybe on the verge of collapsing.
LOL Trump isn't trying to SAVE this system my friend. Why do you think he's getting so much pushback from those who are RUNNING this system?! He's the biggest threat out there...in a good way. Theres a reason why the Deep State, The Global Establishment, Congress, and the mainstream media ALL want him gone...he's a threat to this nightmare they have created.
Good to know for we just sold our home here in the Toronto area,in Canada . But sale does not close until the end of the month. How do you move a lot of $ out of the bank from our sale without being noticed? If my wife & I bought bitcoin would it be hard to take out in a lump sum? Say to withdraw to buy silver?
From what I've heard of your RE market...very smart move. Your question on how to move money. the problem with answering that is that the channels will then become known, and then destroyed. You have to figure that out for yourself, because its all very much based on your situation... Staying in Canada, or moving to a safe zone like Singapore, Hong Kong, Panama, etc? Buying new house at some point? Other future plans? All that has to be considered. But answering the question, after your closing you will either get a cashiers check, or there will be a bank wire to your account...they will not give you cash at a title company. And you will not be able to get the money out of a bank without a paper trail...that's why we are all moving to cryptocurrencies. You have to think carefully about what your plans are before you make any moves with large amounts of money. In my opinion, have the proceeds wired to your bank, and then research, likely for a long time, before you make an important decision with your money.
Thanks Greg. Great post and STEEMIT is on fire today! I am so glad you talked me into coming over here. Thanks DR
Buy silver asap, $100oz. by year end.
https://fred.stlouisfed.org/series/M2V
It's pretty obviously a decline
Great work. This just makes me sad to know theres going to be so many children who go hungry because their ignorant parents refused to even inveatigate a tint bit about the dollar.
Why are people so stubburn.
Thanx... re-steemed
Greg. 5 year follower here. Love to see your analysis here on Steemit to. Thanks for correcting Cuban :)
sad to see the USD crumble like this. Would of been nice for corporation earnings. But hey times are always changing. And new currency is getting hot
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