Dang BTC pulled back from 5.96 to 5.86 ;(
whats the score now?
You cover that GLD short yet?? Don't wait too long!
LOL! ignoring one's question is the greatest form of flattery!
Topic: Gold collapsing. Bitcoin UP. - page 1456. (Read 2032274 times)
whats the score now?
You cover that GLD short yet?? Don't wait too long!
LOL! ignoring one's question is the greatest form of flattery!
Dang BTC pulled back from 5.96 to 5.86 ;(
whats the score now?
You cover that GLD short yet?? Don't wait too long!
Dang BTC pulled back from 5.96 to 5.86 ;(
whats the score now?
Dang BTC pulled back from 5.96 to 5.86 ;(
oops
Go Gold, Go Bitcoin!!
Yes, it won't be as rapid as many hope, but it's become an irreversible process. As soon as the panic pendulum swings away from the Euro and toward another, perhaps the GBP or USD, another wave of capital will flow into Bitcoin while the EU fears ease.
If countries start implementing serious currency controls then the trickle into Bitcoin could quickly turn into a flood. I wouldn't be at all surprised to see the move into Bitcoin intensify by the end of the summer - they've already got the cash sniffing dogs out at the Italian borders, Switzerland has been talking about currency controls to prevent money from coming IN and even the free travel of people across the Eurozone has been questioned. Glad I got Bitcoin
HKMex update:
Both gold and silver contracts have hit record open interest levels for the exchange. The equivalent in gold is now just over 2,200 COMEX contracts, or 220,000 ounces. Silver contract size is the same at 1,000 oz per contract, for 1,700,000 ounces.
I suspect that former participants in the COMEX are starting to shift to other exchanges like the HKMex and possibly the ICE for various products such as oil. This has two primary effects - first, it erodes control over the precious metals and other real assets currently held by the COMEX/LMA. Second, it undermines confidence in the major exchanges, which can result in an exodus of participants.
Both gold and silver contracts have hit record open interest levels for the exchange. The equivalent in gold is now just over 2,200 COMEX contracts, or 220,000 ounces. Silver contract size is the same at 1,000 oz per contract, for 1,700,000 ounces.
I suspect that former participants in the COMEX are starting to shift to other exchanges like the HKMex and possibly the ICE for various products such as oil. This has two primary effects - first, it erodes control over the precious metals and other real assets currently held by the COMEX/LMA. Second, it undermines confidence in the major exchanges, which can result in an exodus of participants.
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“We’re getting requests from people literally saying, can we mail you euros [for bitcoins]? We can’t do that legally, but they keep asking.”
.... Smell's like marketing.
I'm not complaining, but hey, let call it what it is. I can see value for bitcoin in contexts other than protecting your assets within the Eurozone, and I'm not discounting bitcoin as a lesser hedge, but let's not get ahead of ourselves here.
Yes, it won't be as rapid as many hope, but it's become an irreversible process. As soon as the panic pendulum swings away from the Euro and toward another, perhaps the GBP or USD, another wave of capital will flow into Bitcoin while the EU fears ease.
Quote
“We’re getting requests from people literally saying, can we mail you euros [for bitcoins]? We can’t do that legally, but they keep asking.”
.... Smell's like marketing.
I'm not complaining, but hey, let call it what it is. I can see value for bitcoin in contexts other than protecting your assets within the Eurozone, and I'm not discounting bitcoin as a lesser hedge, but let's not get ahead of ourselves here.
yoya, all your posts cause cognitive dissonance with me. I know the guy in the photo is not you, but my brain is trying to associate the photo with what you write and that usually causes a conflict.
YoYa is the lil green guy?
didn't even think of that... I'll try that... thanks.
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“We’re getting requests from people literally saying, can we mail you euros [for bitcoins]? We can’t do that legally, but they keep asking.”
.... Smell's like marketing.
I'm not complaining, but hey, let call it what it is. I can see value for bitcoin in contexts other than protecting your assets within the Eurozone, and I'm not discounting bitcoin as a lesser hedge, but let's not get ahead of ourselves here.
yoya, all your posts cause cognitive dissonance with me. I know the guy in the photo is not you, but my brain is trying to associate the photo with what you write and that usually causes a conflict.
YoYa is the lil green guy?
Quote
“We’re getting requests from people literally saying, can we mail you euros [for bitcoins]? We can’t do that legally, but they keep asking.”
.... Smell's like marketing.
I'm not complaining, but hey, let call it what it is. I can see value for bitcoin in contexts other than protecting your assets within the Eurozone, and I'm not discounting bitcoin as a lesser hedge, but let's not get ahead of ourselves here.
yoya, all your posts cause cognitive dissonance with me. I know the guy in the photo is not you, but my brain is trying to associate the photo with what you write and that usually causes a conflict.
Quote
“We’re getting requests from people literally saying, can we mail you euros [for bitcoins]? We can’t do that legally, but they keep asking.”
.... Smell's like marketing.
I'm not complaining, but hey, let call it what it is. I can see value for bitcoin in contexts other than protecting your assets within the Eurozone, and I'm not discounting bitcoin as a lesser hedge, but let's not get ahead of ourselves here.
i'll tell you what's a great thing about this rally is that all the hootin' and hollerin' that used to go on during rallies like this is pretty much gone.
this is a serious rally.
things around here are quiet cuz everyone's on the phone with their bank trying to wire money to the exchanges!
this is a serious rally.
things around here are quiet cuz everyone's on the phone with their bank trying to wire money to the exchanges!
Something we can agree on!
Euro fears boost virtual currency Bitcoin
Quote
“We’re getting requests from people literally saying, can we mail you euros [for bitcoins]? We can’t do that legally, but they keep asking.”
i'll tell you what's a great thing about this rally is that all the hootin' and hollerin' that used to go on during rallies like this is pretty much gone.
this is a serious rally.
things around here are quiet cuz everyone's on the phone with their bank trying to wire money to the exchanges!
this is a serious rally.
things around here are quiet cuz everyone's on the phone with their bank trying to wire money to the exchanges!
Rats flee a sinking ship, and people don't stand under a falling building. Smart capital has not remained under collapsing debt - it is finding shelter anywhere it can: precious metals, agriculture, fine art, real estate, gemstones, productive enterprises, etc.
Those are all smart investments and are a part of business as usual (especially the last one). You would make those investments regardless of whether you thought the global economy was about to go in the shitter. If your argument is based on those investments being flags of whether investors anticipate global collapse you're wrong.Business as usual will always be sought after because stability is conducive to commerce and productivity. This is present in booms and busts; the flag comes from why the relative flow of capital is imbalanced.
Who's doing what with their capital? In regard to the above, high net worth individuals and organizations are becoming increasingly wary of financial instruments. Capital flows are key: relative to bonds, currencies, demand deposits, stocks, etc, real assets are receiving the overwhelming majority of funds.
This effect is being masked by a growing supply of financial instruments - it's akin to shouting louder to drown out the growing rumble of flow now stampeding into real assets.
Rats flee a sinking ship, and people don't stand under a falling building. Smart capital has not remained under collapsing debt - it is finding shelter anywhere it can: precious metals, agriculture, fine art, real estate, gemstones, productive enterprises, etc.
Those are all smart investments and are a part of business as usual (especially the last one). You would make those investments regardless of whether you thought the global economy was about to go in the shitter. If your argument is based on those investments being flags of whether investors anticipate global collapse you're wrong.
Bond yields are lowered by inflation. Inflation is needed to keep them low.
You miss the point entirely. The only way to monetise government deficits over the long term is with inflation.
But the US isn't getting rid of its debt. Just making it irrelevant via record-low bonds yeilds. Later on, after 5years or so of virtually free debt. They can turn on the taps of inflation again, then this entire circus will start-over.
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But the national debt is a small part of total US debt (public + private). That's the point of this article. The national debt is ~$14 trillion of a $50t total (granted, the $14t is growing).
You miss the point entirely. The only way to monetise government deficits over the long term is with inflation.
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It collapsed in '08-'09. And still falling..
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