Approximate spot prices
Gold: $1,295 per paper ounce
Silver: $17.25 per paper ounce
Bitcoin: $5,500 per BTC
Ethereum: $300 per ETH
This past month has been nothing short of completely out of control. Hurricanes, earthquakes, rapture predictions, wildfires, the NFL, nuclear war threats, Hollywood sex scandals, Las Vegas, and other major narratives seemed to peel off one after the other. Yet it was an off hand remark from President Trump and a corresponding wink that have piqued the attention of some of the most astute observers of the current climate.
Is this really the calm before the storm? If so, what storm?
God willing it will be the storm that results from what we have long hoped and prayed for here at The Amateur Society: the truth bomb option. We believe that God is actively peeling back the curtain and breaking down the facade of deception that has spiritually covered and cloaked the corruption and abominable evil that has been closing its grip tighter and tighter on the free people of the world for decades and even centuries.
The truth bomb option carries with it the long awaited crisis of confidence in institutions that is necessary for the criminal systems that have embedded themselves in the halls of power to be brought down. Justice will be demanded. The people appear – finally – to be arousing from their quintessentially American anesthetics. If the NFL is vulnerable, then everything is in play.
But will the people actually mobilize into positive action in addition to taking steps away from their bread and circus stranglehold? God knows. We have a job to do. There should be escalation of exposure in the coming weeks. Many have made bold predictions about where we will be by the end of October. All I know is that we desperately need a spirit of repentance and a hunger for truth to sweep this nation.
So many are hurting. So many are lost. So many are deceived. Press in to God. If we don’t see a move of the Holy Spirit, then we are at significant risk. It’s time to pray!
A month ago when gold had just hit it’s peak above $1,350 I mentioned that I expected a pullback to the $1,300 area and that dips could be bought. We ended up heading back down to do a standard flush below the moving average before beginning to rebuild momentum. Please continue to keep in mind that these prices are quoted by paper exchanges that are demonstrably fraudulent. As a result we can see major downward pressure particularly when China is closed for their Golden Week holiday and the Shanghai Gold Exchange can’t counterbalance some of the absurdity. I’m looking for some consolidation above $1,300 as necessary before another move up unless the truth bomb option goes into effect. It may ultimately be the establishment of blockchain based exchanges and smart contracts that ultimately sets the precious metals free. An option with trust, transparency, and truth in the precious metals would immediately render the New York and London criminal exchanges obsolete. Hopefully I will be pulling my price charts from elsewhere in the months and years ahead.
That bizarre yet predictable paper flush continues to be the defining low in silver for now. The light volume has continued all year, and this environment is perfect to pick up some additional physical silver for the purposes of accumulation. Always save in sound money rather than fiat where reasonable. Consult your nearest accredited financial professional if you’d like to be castigated as a fool for contemplating such a strategy. These are unbelievable prices that have persisted for several years now. If you don’t have any silver, then please start now. We don’t know when the precious metals will lose their control mechanisms, but the manipulation away from fair value will ultimately cease to exist. I implore you to add physical silver to your portfolio while you’re still able. Keep in mind the industrial uses of the metal. It is the superior conductor of electricity and is used in some way in virtually all electronic components.
I started buying bitcoin right after the election last year, and I’m definitely happy that I did. If you’ve been following these updates, you’ll notice that I’ve been consistently advising everyone to use the dips as entry positions. My trade was covered in the spring and I’m still holding on for dear life (HODL’ing) with 80% of my original position. I’d take a bit more off the table at $10,000, but frankly the tools are available now that would make getting a loan with the bitcoin as collateral a better option. Check out SALT Lending if you’re interested in exploring that angle. I’ll let a tweet from September 13th speak for the analysis:
If you still haven’t done your homework on the blockchain then now is still the best time to begin!
While the 50% drops over the course of a couple weeks are gut wrenching if you haven’t sat through enough of them, they can also be used as excellent entry timings. I tend to creep back in with some more orders when I see 30%, 40%, and 50% off the highs. My best entry price on the latest drop was $203, but I also grabbed some more in front of $250 and $230. September 13th was a good day on Twitter for these crypto calls:
I mostly tweet about other things besides cryptos over at @ontheobjective, but I do my best to advise when I see a good opportunity!
Most of those ethereum were exchanged for other tokens in the latest big drawdowns in the peripheral token market. I like companies that have products that are actually useful, disruptive to the most significant industries, and teams that intend on delivering a meaningful product that complies with potential future regulations. I don’t have opinions on the entire space as it’s growing too large to keep track of. At least 80% of the current tokens and currencies are likely useless and won’t make it through the first real purge. The ones left standing will likely capture trillions in market cap. The current overall market cap of the cryptos is around $160Bn, and it seems conservative to expect that to go up by at least 10x in the next year as adoption expands, awareness grows, and proper structures are implemented.
If this really is the calm before the storm then the storm is going to be a wild ride. Make sure to get your house in order. Ask the Lord for the strength to stand in this time that He has called you into. Pray for discernment.
Disclaimer: These are one amateur’s fallible opinions. Holding any asset is risky, so do your own research and make your own investment decisions.