The moral of this story is all storage of wealth is relative.
To the charts!
Gold MinersBack on January 26th I posted Gold at a Crossroad. As readers know, I don't buy gold or gold paper, but gold miner stock. Since that date, GDX has risen from about 23 to 26, a little over 10%, at best 15% from low to high in that period. So while 10% is not that big in the scheme of life, its pretty big for a sector beaten to a pulp since 2011. Of course, the magic question is, will it continue.
Bitcoin ran into major issues when gtmox started to fail a couple of weeks back, with bitcoin spiraling from 820 to about 540 a coin. Bitcoin shaken to the core has held up pretty well, considering it is not even a currency!I should have my first bitcoin tomorrow, already up 20% in a few days. Reports of bitcoins death is insane, its here to stay. Overstock predicts before years end, $20M in sales through bitcoin.
The US dollar is under constant attack from arm-chair economists, I see nothing of concern according to the charts.
Well, the Ruble is not having a fun time, there is active intervention just publicly announced to stop (yea, right) to hold the ruble's value.
Who could have seen there may be issues? Well lets look back to my post Global Currencies Showing Strain. Granted, the Ukraine issues have accelerated Ruble problems, but its no shock to me there is an issue here. Lets look at the Ruble value over last 10 years, there is no question the Ruble is under strain vs USD, hitting lows not seen 2008 crisis.