Hello dear Steemers,
The cryptos are currently in hyper mode and are making a lot of people nervous. Many of us, who did not invest in bitcoin are on the sideline, watching this rally with a lot of jealousy. Especially when you are sitting like me on several hundreds ounces of silver. Further more there are a lot of promoters like Bix Weir who are telling the people to rush in those currencies at this stage.
I want to mention that I am not a financial advisor, but i try to be my own central bank and take some advantage of the current market situation.
I was thinking for this for a long time and tried to find out how I can take profit here, despite that I am not in the market right now.
Now, I have reason to believe that the current rally in the cryptos is caused by central banks buying it like crazy. I think that because of the statement of this German bank:
http://www.newsbtc.com/2017/05/10/germany-central-bank-bitcoin-purchase/
You can be sure that when they tell you not to buy it, you should be buying like crazy. I think with this raise in price they want the gold and silver bugs to give up and convert all their holdings into Dollars witch are then changed to bit coins. This will continue until we reach a certain price in the cryptos. The elites will then convert all their bitcoins back into currency and buy the physical precious metals with it, which they bashed to the ground in the meantime. I think the only reason pm is not set free so far is because there is still too much in the public hand and they would not control all the assets after the crash.
After that I expect them to turn loose gold and silver and let them run sky high. Soon after the USD will then disappear and a local Treasury Dollar will be launched that will no longer be convertible with precious metals.
So once again, I'm not a financial advisor but I would strongly suggest to always take 10 - 20% of the gains off the table and invest it in physical precious metals as investment for the long run.
I hope this will not happen. Do not let go of your precious metals to participate in this rally. It could be the exactly what they want and a very terrible move at this stage.
I hope you find these thoughts useful. Take care.
Chears, badpicks
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