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Just4kicks

4,314 Posts.

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16/07/22

12:54

Post #: 62566996
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Originally posted by AverageJoe: ↑

Fiscal stimulus is the 'money printing' just like when a bank issue a loan that leverage up to more loans on the fractional banking model. The Feds and bank reserve is not money printing from what I understand. If one adds the MMT, it gets even more complicated even though the model is simplistic in its mechanism..

Yes, the helicopter money to counter pandemic lockdown, China's continuing supply chain from lockdown, Ukraine war on energy sanctions all possibly fuelled the inflation crisis. Strange though that I read China's half year export has increased relative to last year. Coming off a low base perhaps?

Regardless, I'm not comfortable on the price action of gold on that $1676 support, something I had feared for a few months. The market knows this is a key level and I'm sure the shorters will try to break this level just like 2013.

Gold is coming off a recent ATH double top and at the time I wasn't going to second guess what we are seeing right now.

If $1676 does test, we really need a reversal price action immediately. A nasty red bar close below this is signal for me to take my loss and reassess. I'm not about to HODL like 2013 or bitcoiners ride!

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Next couple of months are critical til Fed reverses course, it's not if but when and that's when $ drops and gold wins the fight...

Value at posting: $1,391.7
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