Topic: Gold collapsing. Bitcoin UP. - page 1436. (Read 2032272 times)

That gold hasn't collapsed.

and that cypher has a short on GLD at 152.   (He should cover )

and I have a long on GPL at 1.97.  (probably have to double down before the FOMC)

I was going to transfer some money for bitcoins last week but I got ill. Sucks considering the price has gone up. I guess I'll buy some and then buy more later in small amounts each time.

Anyway what has the point of this thread become?

That's political style, psycho-semantic, misdirecting libel if I ever saw it. Have you run for office before? You'd be a shoe-in, probably put Obama to shame.

Now back to reality...

Nope (most likely I'll buy more before the next FOMC), did you cover your GLD yet?  You can squeak out a tiny profit or you can stand in the way of the white horse.

so then did you sell your GPL yet?  i can't bear to do the math...

I prefer bullion , cloth is too bulky

gotta luv a Keynesian wrapped in gold cloth.  i guess.

See they have direct experience in getting the government to hand out cash!  Or knowing how bad things have to get before they hand out cash

let's see, Merrill Lynch.  where'd i hear that name before?  hmmm...  oh yes, aren't they the ones who went out of business?  oh wait...wait for it...

ah yes:  BAILOUT!

http://www.cnbc.com/id/48156196

ABX, PAAS, GG (major miners) all below the May lows as in new multiyear lows.

Another addition: Capital Account interview of PFG clients. Pay close attention to the statements around 6-10 minutes that assets were held by JP Morgan and are out of the client's control, now likely being liquidated at further loss.

What does that mean? Simple: JPM now has control of those long positions and is liquidating them, collapsing perceived demand for precious metals. The demand is not going away: it is being fraudulently misrepresented. Got it?

End result: legitimate demand is being forced to seek supply elsewhere with any funds that were not stolen, while JPM extricates itself from its remaining short positions with the stolen funds.

By the time the clients are made whole, JPM will have escaped its predicament and the dollar will be further debased.

Source

The same applies to any paper asset held at any broker or other third party. Also, as MF Global and now PFG Best have shown, even if your broker is not bankrupt, your assets can be held by other parties via (re)hypothecation clauses. There is no denying any of this.

... and the band played on.

Two words: National Security. See: NDAA. Any excuse can be used to lock down all telecommunications services and confiscate private property. No meshnet system is realistically viable - yet.

Bitcoin will outperform gold on a relative basis. In terms of value relative to fiat, that's almost a certainty. What's irreconcilable is the notion that gold will be discarded when the vast majority of the world's human population is familiar with, and values it. Three years is not nearly enough time for Bitcoin to become fully pervasive throughout the world's societies - people simply are incapable of changing that quickly, especially in more developed societies with rigid structure.

What's more likely to happen is that Bitcoin will continue to grow after gold has reached a realistic valuation. The potential for gold to reach 10% of global financial asset value is strong, but anything far above that might not be. Bitcoin's features make it possible for the system to be used in ways that gold simply cannot, so permeation could easily equal or exceed that of gold. This may take another few years after gold's reintegration takes place around, probably post 2015. By its maximal point, a full Bitcoin could be in the million dollar range (that's 2012 dollars).

Physical gold will not be discarded as cypherdoc insists; it is being pushed into primacy by not only collective peoples from various cultures, but central banks around the world, even the BIS. Yes, Bitcoin will eventually outperform gold in absolute terms, but these things will occur during the majority of this decade, not overnight. If physical gold is ever discounted, it will be because of an inability to be maintained limited supply, not because of monetary theory that only applies to purely abstract concepts with no grounding in reality.

Finally, how many more MF Globals will it take before you wake up? Will your own trading funds have to be absconded with? Then it won't matter how high the dollar reaches, and all you'll have is your remaining physical gold and bitcoins. What if an Internet kill switch is engaged? How will you exchange your bitcoins? You can't get from here to Bitcoin ruling the world without going through the turmoil in between, and for that, there's gold - real, physical, in-your-hand gold.

People are talking about Pirate's lending operation being a Ponzi - this is the real one. So keep racking up those squiggly lines and paper profits in utterly fraudulent markets. They'll do you very well when the exchanges tell you to sod off, because the asset freezes and seizures will keep moving up the ladder to the very top. Not worth the moment-to-moment risk, IMO. There are some nasty rumours about TD Ameritrade making the rounds...

Bitcoin + physical gold/silver.

I also like the way cypherdoc has misdirected from gold to placing immense emphasis on gold related equities. Not the same thing as physical gold.

Edit: serendipitously, I just came across an article at BTC Wallet related to an Internet kill switch.

cypher's Rerack:

Gold:  -7%

Bitcoin:  +31%

Diff:  +38% advantage Bitcoin

silverbox long GPL:  -20%

cypher shorts: 

GLD:  +0.36%
GG:  +14.39%
RGLD:  +7.68%
SLW:  +3.8%
SLV:  +3.47%

It's time for all Bitcoin Bears to duck...