S&P Overtakes Gold Year-To-Date
I can confirm that my local bullion dealer is selling through many 2010-2016 eagles and maple leafs at the moment. I asked why 2017s are so far and few between, was told he has 17s — but no point in selling them until he sells what his customers in turn bring to him. Subsequently asked if he has lots of people liquidating their stacks — answer was very clear yes — running into cryptos with both hands.
His theory is the non-decentralized cryptos are there to act as a “Siren Song” to reflood the market with supply from stackers whom have given up hope and are chasing immediate gains.
He’s also shipping coins off to various distributors, who uses them (he assumes) to supplement junk and recycled ag and au to make full bars for timely delivery, but this was just speculation on his part.
Guy owns LTC and BTC himself.