Silver, Gold and Crypto - Daily Digest: October 10, 2017 - Crazy day today!
This was one active day today.
- Silver and Gold were up before losing some towards the end of the session. Gold up close to touching the $1300 and Silver above $17 level.
- Catalonians are going for "gradual independence" - whatever that means.
- Bitcoin is flirting with $5000
- USA's Nuclear-armed submarine approaching North Korea
- Global vessel port sanctions imposed by the UN on North Korea
- Britain joining the US fleet in Korean peninsula
- China has the 5th five-year planning session starting on Oct. 18, where they are likely to announce oil-for-yuan scheme launch
- Bankers are busy closing their short positions. Yes, that is correct - "closing". Can you smell the fear? This will be brutal for those who are short gold. Harvey Organ is predicting $2000 gold on October 18, 2017 - price and date - I guess, he is putting his reputation on the line here
- IMF single out Britain as the economy with least growth potential for next year
- Stocks again made an intraday high
- Oil was sharply up
On the funny side, Tesla is delivering model 3 which are hammered out by hand and not on assembly lines. They produced a total of 260 cars during the first quarter of Tesla 3 launch!!!!! Unbelievable and now he is going to restore the power in Puerto Rico using Tesla wall - insanity doesn't have limits it seems.
The biggest news, however, is that the US, Russia, and China are getting ready to announce that they will be embracing Crypto currencies and a host of legislation will be passed that will make hacking and scamming a serious crime. One law has already been passed in the US wherein the government is not to interfere in the blockchain and cryptos - this is a double-edged sword and could pass the entire controls to the bankers. It is not clear whether nation specific crypto will be announced or will they adopt few of the existing ones. In any case, if you are not in the crypto game, this is the time to start learning about it.
While you learn the crypto world, don't forget to be prepared and be safe!
