The Morgan Report Blog

Gold Bull Intact & Owning Miners vs Bullion | David Morgan

Is the gold & silver breakout failing, or just consolidating for the next leg of the current secular bull market? How impactful with the Chinese Yuan addition to the SDR be to global US Dollar holdings? How much gold do the US vs. China hold, and how will the answer affect our future? How does investing in gold miners perform vs. physical precious metals in a bull or bear market? What can the ordinary person do to reduce risk and profit at the same time? Silver guru David Morgan returns to Reluctant Preppers to give you the answer s you need to be aware and prepared now!

IN THIS INTERVIEW:
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Silver and Gold September Price Breakout is consolidating at support levels: What is the next likely move?
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Bull markets pattern is to shake of as many people as it can along the way of its run to the top.

Scary corrections have taken place and will take place again.
Why selling pressure overpowered buying? Chinese not in participating as they had been earlier, Chinese holiday week, light trading, intraday orchestrated selloff campaigns, tripped a lot of sell stops.

Fundamentals still better than ever – but we were due for a correction after a 6-month run-up.

Watch for V-bottom near 200 day moving average, may fight back to $18-19 by end of year, but end of year is recently weak for past 5 years.

September 30th Chinese Yuan added to SDR – will it be backed by Gold, now or to be announced? Likely impact on global USD holdings?
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SDR is effectively a world currency issued by IMF, no responsibility to any country, no limit on how it can be printed/inflated.

Important: Chinese very much want to play the currency game as long as they possibly can.

Will there be a gold-backing for the Yuan? If so, when and Why?
What will the next few months reveal about the impact of the SDR?

Where is all the Gold? Controversy over investible quantities of Gold & Silver – where to turn for solid facts?
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Claims of huge amounts of gold are possible but not highly convincing, Historical ratio of silver-to-gold coming out of the ground is currently 10:1, historically 12:1, China has far more gold than they say: people are asking the wrong question! Commercial Metals Exchange (CME) warehouses: If you ask, “How much silver does JPMorgan hold at the CME = 76M oz.” Correct question would be: “how much official & unofficial holdings, both public & private, regardless where it is held?”

US holdings are real tough to quantify: “official gold” is 265M oz, but terminology confuses the answer. Unencumbered UST holding are probably much less than last audit. Fed owns no gold. Fed has gold certificates, UST owns the gold (on behalf of the people of the US.) Is there even much real unencumbered held by the US? If not, would the truth immediately trigger a dollar collapse?

PM miners vs, physical metals: Different price movement during bear/bull?
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Holding miners is a way to gain leverage, which can cut both ways.
Morgan has made more money trading miners than physical gold. Typically 3:1 ratio – in a bull market, miners will outperform, but be careful near the top, where bullion will be safer.

In 1980, Gold peaked in Jan, miners didn’t peak till Aug.

Silver barter tips for hard times?
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Best is small units.

Constitutional silver = “junk silver” (bags of pre-1965 US coins),
or 1/10 or 1 oz silver rounds coins.

Philosophy of a die hard silver stacker?
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Most silver stackers are really savvy, educated on why fiat systems always fail, paradigm and discipline to keep accumulating despite market ups & downs.

Don’t make it too much of your overall net worth, don’t fall for exaggerate claims about silver about to run out, etc.. rather than a hedge against fiat debt.

Consider limiting holdings to 10-20% of your overall portfolio unless you’re a professional.

Volatility of silver & miners are higher than other investment classes, so be prepared for that!

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NuManna Foods good taking, high quality, coming out with an organic bucket soon.

www.SilverPrepper.com

 

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