from Kerry Lutz's Financial Survival Network
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According to Andy Schectman, gold and silver moved too far too fast. But they’re now building a sustainable base around $1900. This dip has led to increased demand and sales are taking off. Never a good idea to chase the rallies. The bottom line is that we haven’t seen anything yet. Business is strong because people understand that this is the same old pattern. Just like 2008, history is rhyming. Supply dynamics are very strange. We’re in the eye of the huricicane. Premiums are the lowest since December. Supply has picked up since the beginning of the year. Heading into Q4 of 2020 and Q1 of 2021, things will pick up. Economy is dying in the upper Midwest. Comex open interest is massive. You’re beginning to see a run on the Comex. High net worth individuals are taking their metal off the exchange. They’ve gone to extreme measures to avoid a default. Raising margins on futures contracts. The eligible refiner list has been expanded to nearly everyone. Reeks of desperation and fear. Beginning stages of a massive run and eventually panic. Beware of bank bail-ins. Andy says they’re coming.
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from Kerry Lutz Podcasts – Financial Survival Network https://ift.tt/3mKC3w5
