i said this in the other gold thread; one of the most favorite forms of denial in charting is to keep zooming out to cover up your losses.
And those who don't look at greater scales are afraid to do so because it reveals the patterns of real collapse in other asset classes. Do you only study history back to 1950?
In the western world, people grow up and think to themselves: "If only I knew back then, what I know now!"
They reinvent the wheel because they're arrogant enough to think they can do things better than all whom have come before, when they could be listening to the words of wisdom from history. Instead, these are the people who attain sharp rises in power and the world suffers for their imprudent actions.
Over hundreds of years, gold and silver have plummeted in price for various reasons. At the same time, global exploration and industrial expansion were unbridled.
Irresistible force meets immovable object - growth hits its limit; it's all part of one system.
To think about this another way, what happens when Bitcoin's base supply stops expanding? Any further growth will seek the path of least resistance, which is decimal expansion - the opposite direction of what is normally expected.
The same is happening with gold - if its
physical supply cannot be expanded at the rate it has been over thousands of years, its
price relative to other measures will have to expand.
