by David Kranzler
Investment Research Dynamics
I want to preface this commentary with the “proviso” that I have no idea how violent to the downside this attack on the precious metals will get. No one does. It could end today; it could end at the 50 dma (approx $1,248 on the front-month paper gold instrument traded on the Comex); it could go all the way down to the 200 dma. Even the banks who are driving this activity have no way of knowing.
I am using every step down in gold to move more money into my BitGold account. The account functions almost like a checking account. You get assigned individual kilo bars or interest in a kilo bar when you move money into the account. You benefit to the upside when gold shakes off the intervention and moves up again. You also can get a Mastercard that lets you access the funds easily. The best part is that BitGold operates outside of the Central Banking system.