Topic: Gold collapsing. Bitcoin UP. - page 1173. (Read 2032266 times)

i dont think swiss immigration laws have a direct effect on the price of the franc, if anything distancing itself from europe and the euro zone was the smartest decision to protect the economy and will only strengthen its price which has already happened.

Yes, I twisted the meaning of your words and/or what was your intention to say to suit my needs and drive home a point ("It's not about you, it's about us"). I apologize.


Here we disagree. Tell me how Bitcoin is not a good store of wealth and please note that gold was down 30% last year.

The novelty of Bitcoin is specifically that it is able to solve both problems.

Well it obviously was TL and you DR because I never said gold is a good currency by today's standards.  It's just about as lousy as stock certificates, bonds or paper money in that respect.  The name of the game is preserving and accumulating wealth.  Gold and bitcoin solve different problems.  Where gold fails as a currency, it succeeds as a store of value.  Where bitcoin fails as a store of value, it succeeds as a currency.  Expecting a single unit of something to solve both problems is unrealistic.

With the swiss population having emotionally decided to tighten immigration laws and thereby moving away from EU and endangering their market access, I'm not so sure CHF is such a good place to be any more.

you must be american.



EDIT: btw, smoothie. Could you check wether there's 140,000 tons of gold laying around somewhere on Hawaii for us?

At least for me, It's not about "where I want to be", but "where we want to be".

Gold isn't a a terribly useful money. In fact it isn't money at all. At least not by the definition I tend to use that says money is what people use as money. Gold fulfils only one function of money: store of wealth. It's utterly useless for transactional purposes in a global economy. If we indeed have to go back to using metal as money, we're back to mideavel ages. Noone in his right mind wants that. Our food (and related commodities) supply chains are global. We can't easily go back to local food production as some idealists may envision. It can work for some in rural areas, but people in cities would be out of luck.

Recessions result in large part from our disfunctional debt-based fiat money system (boom bust cycle). There's nothing inherently wrong with our economies, it's just that it doesn't make sense for them to grow any more and our monetary system doesn't support such a mode of operation. Our economies aren't sick, what's sick are our financial and monetary systems. Or maybe one could say our economy and/or society is sick with a cancerous monetary system.

It seems indeed 2014 could be another 2008 or even worse: some type of monetary meltdown. We need something trustworthy to use as money... globally. I can't imagine things to go over as smoothly as in 2008 with basically just printing a load of bailout money and putting taxpayers on the hook. You probably can't repeat that in the same way.

What will replace our failing monetary system? Are the fucktards at the IMF / World Bank / BIS going to come up with a gold-backed currency somehow? If Karen Hudes is right and there is a huge stash of "assets of the world" stored in Hawaii or whereever, including 140,000 tons (!!) of gold, then yes, it may be possible they'll whip up something like that. If there is no such stash there certainly isn't enough gold in the west to pull that off. Are they going to try a new largely unbacked type of FIAT? Are the people going to accept that? I'm doubtful and it would result in us having to cope with yet another ealistic money supply and resulting corruption.
 
I certainly hope crypto is up to the task and will emerge "by use" from the people / markets / economy.

I wish there was a couple of years more time for cryptocurrencies to mature and solve their problems, or at least prove they're solvable in short enough time, but I fear things may unravel faster than we like.

;tldr: I may be naive hoping for crypto to save the world, but saying "crypto probably isn't ready, we'll just have to use gold" is not acceptable.

Chf is always pegged to the Euro due to trade partners.. snb set a floor at 1.20 ec and will sell chf infinitely to achieve this floor like boj does with uj at 80.

Usdchd is inversely correlated to eurusd whch is the most liquid forex instrument so usdchd is one of the more liquid too.

perhaps he's using a military time clock :p

Uh no it is twice correct. In the AM and in the PM.

"I'm looking to convert my remaining USD to CHF first decent chance I get."

Isn't the CHF still pegged to the euro? I've read a few times that the Norway Krone and HK$ are better currency bets against the USD but I haven't bought into them yet.

Rickards is suggesting mid-year as the reversal point. I shudder to think what tapering until then will do to societies.

http://m.rollingstone.com/politics/news/the-vampire-squid-strikes-again-the-mega-banks-most-devious-scam-yet-20140212

It worked out well , you have a yellow lamborghini and I have a rare element I can't use, and valuable experience.  
The most expensive experiences serve the best, I though I'd let it go, but apparently not (don't tell my wife) so next time I won't judge cypherdoc, to be honest it was a good run from $2.80 to $10 $13, and I made a great return.  

Agree.

I'm looking to convert my remaining USD to CHF first decent chance I get. Already hold gold and bitcoin; sold some stocks so I'm holding much more USD than I feel comfortable holding 

When the indefinite QE started, it was $40B/mo. I recall thinking that they'd likely jack it up a little over $100B/mo and then pull back 25% of so and claim prudence. I was off by a bit on the magnitude, but I can see that playing out similarly. Having pumped QE to $85B/mo, if they ultimately scale it back to $40-60B/mo range, that'll seem like not a terribly big deal now that everyone's used to it.

We'll see. They might be able to scale it back quite a bit, actually, before interest rates move too much, as long as USD is still the defacto global reserve asset. It's really in China's hands.

Markets are starting to realize taper will be stopped/reversed despite what Yellen says.

I did, but I agree that for most people, you're better off just doing a B&H with money you're willing to lose.  That being said, I figure most of the people in a speculation forum aren't doing pure B&H ..

I may have been right for the wrong reason .. I anticipate another global recession this year.  I am not convinced that Bitcoin is where you want to be in such times compared to PMs.

In hindsight this is obvious.  But did you know that also at the time?  For myself, I believe that shorting Bitcoins is very dangerous and I'm not going to do it (B&H instead for me).  This may not make maximal profits, but I feel confident doing that.  I also hold some PMs as diversification, but I'm not trading between those (since I would surely be bad at that and lose money instead).

If you aren't flexible and realistic in your investment strategy, you'll fail hard.  The smart thing was to convert to gold around $800-1000 USD/BTC.  We'll see when it makes sense to convert back.

Even a broken clock is right once a day.