Topic: Fiat Collapsing. Gold/Silver/Bitcoin UP. (Read 2679 times)

The stock market is too volatile recently. So the people are seeking safe heaven. They will buy gold first, then bitcoin.

Gold is back in a bull market for the first time since 2013 as concerns about global growth rise.

Gold spot prices climbed to $1,272.77 an ounce on Friday, after settling at $1,264.25 on the previous day.

Thursday's close marks a 20pc gain from the most recent low of $1,052.94 in December, meeting the typical definition of a bull market.

Signs that US growth is slowing and an expectation that the Federal Reserve will delay further interest rate rises have pushed up prices of gold since the start of the year.

I think the gold-oil link that has lasted for over a century is being severed.

New energy technologies are coming on line that will eventually cause the obsolescence of fossil fuels and the gold-oil link is necessarily reflecting that.

There will be a lot of disruption surrounding that delinking given the number of existing geopolitical power structures, petro-dollar debt-based fiat, bonds-for-oil, gold-for-oil, similar inter-national agreements and the mountain of derivative deals that are based on these fundamental long-term linkages of energy and money being broken.

tl;dr oil is being demonetised

I suspect that his attorney told him to shut his yap.  At least here on bitcointalk.org where he did much of his hard-core shilling.

After trying to simultaneously be a Bitcoin Maximalist and Buttcoiner, he vanished in a puff of logic.

Where's CypherDoc tho? I still can't see too good. 

China's central bank is under increasing pressure from policy advisers to let the yuan currency fall quickly and sharply, by as much as 10-15 percent, as its recent gradual softening is thought to be doing more harm than good.

    The People's Bank of China (PBOC) has spent billions of dollars buying yuan over recent months to defend the exchange rate, but has failed to stabilize market sentiment.

I would take anything from zerohedge with a huge grain of salt.  In fact, I would highly recommend not trying to get your business news from them.  They're fear mongers, always predicting economic Armageddon and pumping gold and silver.  The writers are anonymous.  But the second part of your thread title is correct.   

I would take anything from zerohedge with a huge grain of salt.  In fact, I would highly recommend not trying to get your business news from them.  They're fear mongers, always predicting economic Armageddon and pumping gold and silver.  The writers are anonymous.  But the second part of your thread title is correct.   

“China Finds $3 Trillion Just Doesn't Pack the Punch It Used To,” a Bloomberg headline from Friday morning reads.

“China’s $3 trillion-plus in foreign currency reserves, the biggest such stockpile in the world, would seem to be a gold-plate insurance policy against the country’s current market chaos, a depreciating currency and torrent of capital leaving the country,” Bloomberg writes, before citing a number of sources who say that in reality, $3 trillion aint what it used to be.

“Some Chinese reserves may have already been committed to fund pet government projects like the Silk Road fund to build roads, ports and railroad across Asia or tens of billions in government-backed loans to countries such as Venezuela, much of which is repaid through oil shipments,” the piece continues. “Then there are other liabilities that China needs to cover, such as the nation’s foreign currency debt to finance and manage imports denominated in overseas currencies.”

As we discussed at length on Thursday, Beijing burned through its UST stash at the fastest pace on record in December, liquidating some $108 billion in reserves in a desperate attempt to manage capital outflows and the yuan devaluation.

Most curiously, the bank's London gold vault only became operational in June of 2014, more than two years after launching the project. It can store some 1,500 tonnes of gold and was built and managed by British security services company G4S.

As Reuters further noted, with other banks withdrawing from the commodities business to cut costs and reduce their regulatory burden, it might be difficult for Deutsche Bank to find buyers amongst its nearest peers. However, one possible buyer is general LBMA-member, Chinese bank ICBC, which we said at the end of 2014, was trying to build a presence in London.

In any case, the list of potential buyers for DB's brand new vault lease remained a mystery, and perhaps our revelation of the exact location of this vault, something potential buyers tend not to appreciate especially when said vault will house up to 1,500 tons of gold, or over $50 billion worth of "inventory", may have dissuaded some. As a reminder, the "secret" location of the Deutsche Bank vault, which as revealed in the G4S building application, is located in the Park Royal complex, and specifically at the 291 Abbey Road, London NW10 7SA location.

As it turns out, one persistent buyer failed to be dissuaded.

According to Reuters, as was rumored one year ago, China's largest bank - and in fact the world's largest bank - by assets, ICBC Standard Bank, is buying the lease on Deutsche Bank's London gold and silver vault, enlarging its footprint in the city's bullion market, four industry sources close to the companies told Reuters.

China's ICBC, which took a controlling stake in Standard Bank's London-based Global Markets business last year, has also applied to become a clearing member of the London gold and silver over-the-counter business.