Another boring day for Gold and EDV. Actually GDX was up almost one percent, and a half percent up for EDV is ok. Slow and steady wins lots of races. And it does feel like gold is on the treshold of a nice move up.
And if 1% a day isn't good enough there is always Bitcoin. Anyone who reads my stuff here knows of my total disdain for Bitcoin. Below is what I posted on some forums that were talking Bitcoin. I tried to post on the Reddit sites but couldn't. I was kicked off a number of months ago, so this time went back with a new email, new identity: female, young, novice , and tried to post the most innocent post possible, just to see if they would post it. Nope. The Reddit site is totally controlled by who I am not exactly sure. Mostly advertising for Bitcoin products. I would guess it costs big bucks to get on the site.
And on so many sites now, forums etc. there are so many 'influencers' . All saying more or less the same thing: basically Bitcoin is good, be part of the revolution by buying Bitcoin, Bitcoin uber alles , basically. Now I don't want to be conspiracy minded, or alarmist, but this was and still is totally the message from Trump and his followers. I think Trump was just a fluke, and just started this thing that is thousands of times bigger than he is. Maybe it is not a fluke that southern US states are embracing Bitcoin, as are some wierd countries. I read some interesting comparisons to the present with Germany in the early thirties. The Nazi message was very much the same as Bitcoins. And all they needed was to convince about a third of Germans to come on board, and then instigate terror tactics to make the rest follow along. I am sure you will all laugh at this , as the peace loving, normal Germans did in 1930+.
Anyway, here is what I wrote on a forum, and it should make you laugh , I hope. The Bitcoin ETF is a beautiful thing. Now you can make a pure gamble on a number. No mess of buying anything. And the thing is the number, the price of Bitcoin, is based on something that is nothing as well, since Bitcoin is nothing: not a currency and never will be anything remotely like one, not ,well, anything. But with the ETF you can now go long, or short, and with lots of leverage. A beautiful thing. For sure many casinos will find themselves left out - this is so much better.
And for people like me who think Bitcoin is a terrible thing because of it's very large contribution to global warming and eventual destruction; this ETF does not trade Bitcoin. Not one Bitcoin will be created, with all the electricity that wastes. The bet will be solely to the price.
I am very excited. And the volatility should be off the charts. Only problem I see is the winner, the guys who make 100% in a day, might pull their money off the Bitcoin table , and the amount available for betting on Bitcoin price could slowly go down, and only the losers will be left.
But hey, good luck to all you gamblers out their!