Afternoon everyone ….
First off, I’d like to wish everyone a very Happy New Year.
I’d like to do a recap of 2023. But the point of my recap is not going to be focused on all the Geo political stuff, or the on going wars in Russia/Ukraine, or in Israel/Hamas.
My main focus is going to be about money, metals and some crypto.
Why???
Because honestly I doubt that any of us truly know what is actually happening in or around those countries. We only get to see and hear what they want us to hear. Truth and accuracy has never been a media strong point.
While these wars/conflicts or whatever you’d like to call them, do affect the economies of the world. Each country is battling with their own internal issues as well, which is directly affecting their economies.
There are many experts saying that several countries are ready and will probably introduce a digital currency this coming year.
I live in the United States, and they are trying their best to force it through without understanding the direct ramifications it will have.
If we go to a totally digital currency, why would banks be needed? Did anyone of these assholes….sorry politicians think of that?
Is that why JP Morgan and all these big banks have been buying up gold, silver and Bitcoin? Because the banking system would be completely shut down. Why needs a bank if everything is digitally handled.
Talk about destroying the workforce…..
I Googled how many people work the banking industry in just the United States. That number is over 2.1 million people, and that’s just in the United States.
What are these 2.1 million people going to do for jobs now? I didn’t even include anyone in the mortgage industry. How many more people is that?
While I fully understand that at some point we will have nothing but a digital currency. It had to be rolled out with great understanding and preparation of what it will cause. There are not very high percentage of people over the age of 70, that would have the first clue on how to even use a digital currency. Hell, I can’t even get my mom to understand how to use basic functions on her smart phone. Yet, they expect these elderly to use digital currency only?
Ok I’m going to end that rant….
While we are on the digital currency subject. Let’s talk Bitcoin….. Bitcoin started the year in the mid 16K range. It is currently hovering in the mid 42K range. So Bitcoin is up roughly 26K for the year.
Obviously that is a good sign. Some of this increase is from the anticipation of the pending approval of a Bitcoin ETF. How much of this gain is directly from that? I guess the only true way we will find out that answer, is if the deny the approval once again and see if or how much the price of Bitcoin falls.
I am a silver bug as some of you are as well. This was a horrific year for silver performance wise. Yes we had some rallies, but for the most part it was a bad year. Silver opened the 2023 year with a spot price of $23.97. Throughout the year silver had a high of $26.06, with a low of $20.02. These are all closing prices not intraday prices. So Fridays closing for silver at $23.77, was a net loss of $.20 per ounce versus last year.
NOT GOOD AT ALL !!!!
A little silver that I picked up throughout the year…
Gold on the other hand started the year at $1,823.91. Gold had a banner year, with record intraday and closing price. Gold had a high of $2,079.47, and a low of $1,811.06. What a huge spread that is….. Again these are closing bell prices. Gold ended the year closing at $2,062.00, which is a very size able increase of $238.09 per ounce. That’s over a 13% increase for the year.
I see metals taking off this year and here is my thoughts. Remember I am not a finacial advisor, nor do I claim to be one. I am merely using my knowledge and judgement from what I have personally seen happen in my lifetime and what and how the markets and world economies are doing.
The stock market had its best increase since 99’. Well for those of you old enough to remember that far back. In the year 2000 the stock market crashed sending everything into the toilet. They say history repeats itself…… They also say what goes up, must come down…..
While it’s a completely different world out there right now. But I see something very similar happening this year, especially as we get closer to the election.
STAY STRONG, STACK HARD, BE AWARE AT ALL TIMES….
