Topic: Gold collapsing. Bitcoin UP. - page 1400. (Read 2032274 times)

as a former subscriber of Le Metropole Cafe, he's been calling for a ramp for years.  what do they say about a broken clock?

but labestiol, there's a better money, which is called bitcoin. 

It was not a crash, but a sudden spike which was quickly corrected.

A follow up on Bill Murphy. First, his "bold predictions" were made at the beginning of August. With the breakout last three weeks, it now sounds a lot less crazy.
He was in Capital Account this week, a really good interview, especially if you've never heard about him. And anyway, Lauren Lyster makes Capital Account always nice to watch 

http://www.youtube.com/watch?v=sxVsosT3GAw

Tough to know if all these manipulation allegations are 100% true, but honestly, I wouldn't be shocked (quite the opposite)

Sorry guys, there's quite a long history which contradicts with you.
Not saying you're wrong that other metals/commodities will also shoot up, but gold also will (and I agree that silver/gold ratio will probably go lower in the long term, for basics fundamental reasons).
And no, gold is not yet in a bubble. You could argue that it was in some sort of short term bubble a year ago, like silver a year and a half ago, but it popped, and now we are at the bottom.

http://www.npr.org/blogs/money/2011/02/15/131430755/a-chemist-explains-why-gold-beat-out-lithium-osmium-einsteinium.

This article is a good answer to the "Why Gold ?" question. Just the best properties as a store of value, selected by a long experiment (thousands of years).
That's the reason why the "Gold line" is an easy push : It's an optimal choice. It is the best kind of money people have found in History*.
For the comparison with say copper or silver : Try to pass borders with years of saving in silver or copper, you'll understand the issue (though silver is probably not that bad if you're not too wealthy).

And I also don't think everyone and their mother own gold, that's just false. They own paper, in various forms (most of them denominated in USD). And they will be the one to suffer.
Never forget, there's two component in the price of gold (or any price) : Value of gold/Value of USD. What we are seeing is not that much a rise in value of gold, it's more a loss in the value of the USD.
I'm not sure USD is gonna implode btw. That's the catastrophic scenario, if they can't prevent hyperinflation. But I'm sure it'll loose a lot more value in the next decades. So yep, the price will shoot to numbers which seems totally absurds, even if the value of gold stays the same.

* : And before cypherdoc comes saying that there's a better money, which is called bitcoin : Bitcoin had been created/discovered, and some of us recognize its superior properties. Now we have to wait for it to be selected by mankind.

 

I share your hate for Gold Line and gold buggery.

I think silver will break out when the shit hits the fan. It has more industrial uses than gold and demand outpaces production and supply. When the Lala Land of fiat melts away and the real value of commodities are compared to their past manipulated values, silver will shoot through the roof. Silver has already outperformed gold in the past 8-10 years.

$10.  Wow!  Did you get any conditional statements for that kind of green?

To answer your question, though, hopefully one day providers of trinkets such as gold will also be fluent in Bitcoin.  So, you give you programmer (or organ donor or whatever) a code which he can redeem at his local shop.  As long as such establishments are not wrecked by the government sponsored brown-shirts the development of such solutions would be a big step forward for Bitcoin.

The only thing holding up gold is the fact that everyone is betting that the USD will collapse, and everyone on wall st. will  buy gold like mad fools when it does...

this couldn't be more wrong.

their are MANY MANY other commodities to dump your $ in in-order to protect against this hyper inflation.

gold is easy to push on poeple,

but I think buying anything else will give you a better outcome when the shit hits the fan.

copper is 0% speculative value. its 3$ a pound because that's what its worth

gold is 90% speculative value. its 1700$ an ounce, because people are suckers.

if the USD does in fact implode ( this is kinda crazy, but i guess it could sorta happen ) traders aren't going to bump up gold 10000%.... they are simply going to buy ALL kinds of commodities, and probably avoid gold because it will be in a bubble on-top of a bubble...  4000$ for an oz of gold... what a joke...


sorry guys... I blame "Gold Line" for my hate of this gold BS. 

Difference:  102% advantage Bitcoin.

tell me how i pay that programmer $10 with gold on the other side of the world that helped me the other day.

PMs arent ever going away. Remember bitcoin is only 4 years old or so.

Bitcoin could take off and it could fail. Even Gavin admits that it is an experiment.

PMs have shown they can be used as money in past as long as the actual metal is traded and not paper.

This thread was started 3/13:

Bitcoin  5.40

Gold 1690


today 9/8:

Bitcoin 11.06 (up ~105%)

Gold 1735   (up ~3%)


BTC seems to be holding steady, after the 35% crash, in the 10-11 range.

Gold is UP

BTC is still outperforming gold.


GPL 2.24  (Silver lg  @ 1.98)  I might have to calc the percent increase on this one pretty soon, turning into a nice little profit.  

brimming with confidence, eh?

we need an update, btw.

I still support him for a stock crash/correction. But it will probably have to wait after the election

What happened to all of Cyphers supporters?  Who said he was right about the big crash in the stock market and collapse in PMs that were about to doom us all..

If they don't show up pretty soon to help him out, I might have to switch sides and argue for the collapse of PM's

Without real issue for BTC, I seriously doubt it. Sure PM are set up for a nice long rally, but BTC have so much upside potential that it should easily beat the metals


I also doubt that. Lot of PM bugs thinks TPTB want a strong dollar (and thus low metal), but I disagree with that.
A weak dollar helps them a lot : devalue their debt, reduce trade imbalance, make the BRICS pay of bigger price to get ze gold.
Of course that's a controlled weakening, they don't want hyperinflation either, thus the correction we had after US downgrade last year.
But a strong dollar is just bad for them IMO


Again, the same argument
Patience, Rome wasn't build in a day. For the time being, there's no real alternative.

Don't get me riled up!! I'll go Ballistic!!



or maybe my dog will!

That would represent a giant fail for Bitcoin IMHO, though as always I believe that anyone dabbling with Bitcoin should still expect a very real possibility of a 100% loss.  They can reduce this risk by taking profits if they are lucky enough to see them however.  I'll do so if/when we see something around $100/BTC.


I think that Sinclair is on record as expecting a lot more (e.g., "Alf's numbers") in the event of a crisis so I'm taking his new(-ish) $3500 as a status quo growth estimate.  It's less than one more doubling and we've already seen several so it seems eminently possible and something of a yawn to me.

As for silver, the most recent thing I read was some article exploring peak production issues.  With the associated reality that

 - much silver production is a by-product of other industrial metals mining which would be effected by an economic down-turn,
 - silver has it's own industrial uses and is almost irreplaceable for some of these including ones in the energy sector,
 - silver can shape-shift between industrial and monetary uses due to it's history
 - inventory is almost certainly pretty thin and much reclamation has already occurred
 - is way under it's historic gold ratio.

I could see silver going quite ballistic.  Much more than gold (but not as much as Bitcoin which I believe is potentially hugely undervalued at this time.)

ftfy.

i think they are losing it too so we can agree on that.  i'll also give you that gold could skyrocket in a global collapse scenario.  it is hard to buck the momentum thats for sure but i think gold fails to make a new high and would actually collapse in a stock market selloff.  time will tell.

we are right at an inflection point.  could go either way.  new, sustained rally in stocks and thus gold or a double top failure.  i know everything looks rosy from the CB liquidity camp and ramp.  the skys the limit.  i thought it was disgusting how Draghi fawned like a rock star in front of the cameras Thursday after his announcement and surely markets ate it up.  everything for the banksters!  price stability!  oh, not for essentials of course; just financial assets!

there's a small part of me that wishes gold would ramp and crush all their financial holdings.  at least i got my small pile leftover.  but then again, i don't think gold could serve our present day needs even though it seems like the logical choice of reserve currency since no one has heard of Bitcoin (at least until the Romney Effect perhaps).  i also don't take great comfort in CB's buying gold at this point.  weren't they selling in 2001?  if Ben were really smart he'd precipitate a selloff in gold and crush all his CB competitors.

i know these are all the same 'ol arguments from last year but i still see this logic. 

No, I assume that they are starting to lose it. And that's why I am bullish on PM.


Because they are losing it.


Until China, India, Russia, and Middle East keep stacking phyzz, I think it's a good idea to follow the global trend, which I cannot fathom how could be derailed.