Gold surges above $1,530 as Bitcoin breaks down, plus a look at the Walmart indicator and US households.
Bitcoin Breakdown
September 24 (King World News) – Peter Schiff: “Bitcoin has finally broken below the support line of the large descending triangle it has been carving out for months. This is a very a bearish technical pattern, and it confirms that a major top has been established. The risk is high for a rapid decent down to $4,000 or lower!
KWN note: Here is a chart of what Schiff is referring to regarding the Bitcoin breakdown (see below):
BEARISH PATTERN: Bitcoin Breaks Down From Large Descending Triangle – Risk For Collapse To $4,000
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US Households’ Net Worth
Liz Ann Sonders, Chief Investment Strategist at Charles Schwab: “Ratio of households’ net worth to GDP at record high, with latest increase driven mostly by stock market (2007’s high was both real estate & stock market) (see below).
Ratio Of US Households’ Net Worth To GDP At Record High – Fueled By Stock Market & Real Estate Gains
Walmart Indicator
Stephanie Pomboy: “…all those dirty details in the consumer conference report comport with my favorite economic barometer– the performance of WalMart vs the market overall. When it’s rising (and consumers are trading down) it has been a reliable signal of impending eco turmoil in the past. (See below).
WARNING: Walmart Indicator Has Reliably Signaled Impending Economic Turmoil In The Past
Don’t Miss This!
KWN has now released an extremely powerful audio interview with Alasdair Macleod where he discusses how the global chaos will accelerate and why a worldwide depression may loom as well as what people need to do in order to protect themselves from the coming turmoil, which he believes will devastate most investors. You can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
Gold Set To Explode, Plus Look At Bubble Warning I & II
READ THIS NEXT! The Price Of Gold Is About To Explode, Plus Look At Bubble Warning I & II CLICK HERE TO READ
More articles to follow…
In the meantime, other important releases…
One Of The Most Popular Things Ever Written On The Subject Of Investing CLICK HERE TO READ
MAJOR GOLD & SILVER UPDATE: Gold On The Way To $1,600, But Look At Where Silver Is Headed CLICK HERE TO READ
Greyerz – BUCKLE UP: We Have Just Entered The Explosive Phase In Gold & Silver CLICK HERE TO READ
What To Expect For Gold & Oil, Plus A Dramatic Week for Key Markets CLICK HERE TO READ
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