Topic: Gold collapsing. Bitcoin UP. - page 1218. (Read 2032266 times)

Ah, yeah. I've held on to my few shares throughout the ramp and now crash. I thought you may have been referring to some operational epicness that you'd be privvy to as a board member.

As if you didn't have enough BTC. 

Maybe just cash out a small portion and tell them it's all you have?

Care to elaborate...?

So many handles forgotten. I do remember we had a meet in London, people came from all over, Europe, even New Zealand. Folk handing out coins, drinking in the old Bank of England vaults. I think most sold out long before Squillionaire Acres, lots sold after the world didn't end on 1st Jan 2000. Some of the guys that were greybeards then must be past caring...

Well you can't send them your coins if you failed to do proper backups and lost access to them. Whops 

Ah you're not that much older than me as I thought. I was beginning to doubt that when you started talking about a forum someone said was active in the 90s

Why do you disregard owning any form of equity in all companies in the world? What's wrong with owning a undervalued company with a nice solid FCF yield?

Disclosure: I never owned PMs (not even in jewelry)

yeah, the old kitco board was a hoot, anyone remember GotGoldies, oh man, lots of luls

finally a bunch of us tired of it and ran off to a private silver board, had good times there too

This is too easy, a no-brainer. Back in them days we had to fight, goddam kids today ain't got no idea...

I never spent much time there (if any.)  I used to read the usagold forum pretty regularly until it shut down, but I never really participated.

In other news, I might be interested in trading somewhere in the 100 to 200 large USD's worth of BTC straight across for gold and/or silver sometime in January next year if nothing much changes.  If I do so, it will be in a way which protects my ass 100% and is totally legal.  Anyone who is interested is welcome to ping me to discuss the possibilities.  I'm not interested in a whole lot of smaller deals because this promises to be a hassle.  I'm only interested if the fees that I (and the other party) save make it worthwhile.

A gulp, a puff and a crunch to ya! Namaste.

Would you mind if I asked your age?

There you go, and i thought the good times are now. New ATH left right centre

Pretty soon I'm not going to be able to update the gold price in BTC graph, because for some reason Libreoffice does not allow negative values on the axis limits of a log scale chart.

Gold collapsing.  Bitcoin UP.

I was into gold in the late 90s.

At the time the goldbugs forum was kitco (before the site was changed), and it was similar in some ways to this place except that it was essentially one long board rather than a subdivided forum. It was also the exact opposite in terms of sentiment: mostly unending despair rather than the euphoria found here.

I went there (and PMs in general) some time after Greenspan's "irrational exuberance" speech – which didn’t stop the mad stock market and wasn’t followed by real dampening action. Mainly bugs just couldn't believe that the money printing and stock market froth could possibly continue (what's changed?), and so they bought the gold that everyone else was selling and laughing at. The mood at the time was that PMs were dead, apart from their small industrial use, and that you’d be mad to hold such an out of date asset in the modern world of omnipotent Central Banks. Not only didn’t you get interest, you actually had to pay people to store it, and heaven help you if you wanted to move it around. We bugs ate crow for years.

All the clever people were dis-investing. You couldn’t give silver away, and even on kitco it was commonly called “sludge”. I wasn’t especially clever, but I figured a storm was coming and I liked that an ounce of gold bought a loaf of bread a day for year in Roman times, and in 98 it still did.

The feeling at the time was because a rising gold price had always been seen as a signal that something was amiss in fiat land, the Central Banks would manipulate the hell out of it to keep it low and the investors calm. The feeling was also that this was largely accomplished by the gold carry trade: lend to the bullion banks at around a quarter percent (thus also showing that you were clever enough to raise a return on the barbarous relic) who would then sell to buy US treasuries at 4 percent. BBs got free money and the CBs got a lower gold price and apparent approval from the markets. As for the unwinding, well, we’ll see how Germany does in the next few years

Gordon Brown just followed conventional wisdom – why hold a non-performing, declining asset when you could swap for USD and get your interest. The Chinese, Russians, Germans and a few kitco tinfoil hatters bought.


edit: to remove excessive detail

the whole of uk went facepalming when that became evident. though somehow the media convinced the public that fiat is as good as gold. pathetic. in the long run it seems rothchilds were smarter than rockefellers while believing in gold. rockefeller's clan is at the final stage of world dominance with their printing shop. turn for house of rothchild rise to power within china. most of their gold is now in hong kong together with their new base of operations. i wonder when they'll see potential of cryptos..

Do you actually not understand?  

The gold was sold by the banksters from the "public" pocket of Her Majesty's Treasury to the "private" pocket of Rothschild, when the time was opportune:

- The populace could be convinced that it was beneficial to get rid of gold
- Price was low for the buyer
- Buyer had ample means to pay due to expansion of fiat and financial instruments.

would it not be more effective/competitive against everyone else if they actually did collude?

Even if you tin-foil-hatters imagine that there is a "they", a new world order, a conspiracy of some kind to do something, it would be foolish to consider that "they" are some kind of autocratic Dr. Evil top-down organization.  It would instead be a loose confederation of competing individuals who have some agreements that benefit themselves to the detriment of the rest of the world.  Think of a "survivor" alliance or one made while playing "risk" -- all know that in the end there can be only one.  Should one member choose or be induced to sell gold at the bottom, the others would simply take advantage.