by Steve St. Angelo, SRSRocco Report:

Thanks to the Fed and Central bank intervention, sales of Gold and Silver Eagle sales declined sharply over the past year. Yes, it’s true… precious metals investors have lost interest in gold and silver as the stocks, real estate, and crypto markets reached new highs in 2017. So, who wants to continue purchasing gold and silver when many cryptocurrencies were experiencing 10% increases in a day.

Historians will look back at 2017 as the year that asset prices went utterly insane. Of course, the cryptomarket enjoyed the highest gains compared to most assets, but many stocks hit bubble territory last year as well.

Here is a small list of Big Gaining Assets in 2017:

Dow Jones = + 26%
Nasdaq = + 29%
Netflix = + 55%
Amazon = + 67%
Caterpillar = + 73%
Bitcoin = + 1,500%+

Now, let’s look at the gold and silver price increases in 2017:

Silver = + 6%
Gold = + 14%

While gold did go up more than double silver last year, many investors became frustrated with the metals and turned to making big gains in stocks and cryptos. Furthermore, the motivation to protect wealth by purchasing precious metals didn’t seem to matter anymore because the Dow Jones Index is supposedly going to 50,000 and Bitcoin, $100,000. So, with these sorts of gains in the future, why on earth would anyone want to buy precious metals?

Investors and the public today have become totally irrational. Also, no one wants to work anymore. Instead, we rather put $5,000 in Bitcoin or the other 1,500 cryptos so we can retire to Tahiti with our massive Blockchain profits. Furthermore, if we watch some of the videos by the crypto aficionados, that is precisely what they are doing… well, at least on a temporary vacation basis. Nothing like learning about cryptos from someone sitting on the beach drinking cocktails.

And, if an individual isn’t making $millions in cryptos, then the next best thing is the exponentially rising stock prices today to make money hand over fist. If an investor was smart enough and invested a mere $10,000 in Amazon at the low of $50 in 2009, they would be holding on to $300,000. Yes, I realize this isn’t like making $millions in the cryptos, but not everyone can be a millionaire.

So, why can’t everyone be a millionaire? During one of my conversations years ago with retired NASA engineer, Don Arabian, he said that if the government gave everyone $1 million, then the next day, no one would show up for work. Just think about that for a minute. If you are a waiter and you just received $1 million, are you going to show up to work at the restaurant the very next day? Hell no… LOL. You are going to go shopping and maybe buy a new car or go to your favorite high-scale restaurant… because, you deserve it.

Unfortunately, when you go to the Auto Dealer or restaurant, you are going to find that no one is there to sell you a car or bring you a rack of lamb with mint jelly. Why? Because, all the Poor Unworthy Slobs that were broke are now looking to spend that $1 million.

NOTE: when I use the term “Poor Unworthy Slob,” I am not making fun of the public, but rather in the Bankers’s vernacular, as they see the public. Thus, I am also a poor unworthy slob as it pertains to Wall Street.

The very notion that an individual is going to get rich owning Bitcoin or Amazon is like winning the lottery ticket. It would provide the individual with a way to get out of the CRAZY RAT RACE. So, I can see the appeal in jumping into the crypto market with Dollar sings in one’s eyes and images of sitting on the beach drinking Blue Hawaiians garnished with pineapple and the little umbrellas.

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