Topic: Gold collapsing. Bitcoin UP. - page 1476. (Read 2032274 times)

The USD is rising against other forms of debt. How much of that rise is being used to prevent other monetary assets from rising as they normally would, and what kind of uncontrollably destructive force is being kept under wraps while it builds?

Yes, I'm going to quote myself again, because it's been spelled out:


I wouldn't be surprised if the total amount of outstanding derivatives now exceeds $2 quadrillion rather than the $700 trillion to $1.44 quadrillion estimates from the BIS.

Curiosity strikes: how does gold meet your needs?


Is this in reference to general awareness and interest outside of the Bitcoin microcosm?

It may be easy to dupe many end users for now, but it is much more difficult to fool dealers and virtually impossible to get one over on mints and refineries. Were gold more prevalent, people would have more familiarity to a point where the ear is attuned to the sound and the hand recognizes valid heft. Not that counterfeiting would be eliminated, but it would go a long way to reducing the ease.

I do agree with the latter point, I just think the world isn't at that transition point yet. Within a decade, perhaps - in the 2020-2040 range, it's almost guaranteed.


That's exactly the point - there is no direct way of approximating the price without being part of the highest circles of influence. All of the official numbers thrown at us have been tainted by such an extreme level of unreliability that there's no way to trust them as being legitimate. The US employment numbers alone are so blatantly rigged that even the MSM has finally capitulated and run the story.

We can extrapolate based on the divergence between gold production relative to existing reserves, versus rates of fiat creation and associated debt instruments. Based on that, they are so far apart that the current prices for gold are nowhere even close to the low end of possibilities in fiat terms.

The best approximation I've seen is: Priced In Gold.


Not "goes up in value no matter what" - maintains purchasing power relative to other real goods no matter what. This distinction is very important.



Do not play the demagogic politician by conflating my stance on precious metals with the patterns I see in social leadership. They may be related, but are still separable concerns. I truly hope that I am wrong in the social context, but nothing is suggestive of that save the potential of a singular, transcendent event.


A lie behind a screen, masquerading as reality, is not reality. Let me know when you've mastered the ability to grab smoke and hold a reflection.


Booya!


A gold bug's best friend is Bitcoin. There is no other financial instrument capable of offering improved functionality with the same set of emergent benefits.

When the time finally comes to make the transition, what else would ever be able to hold the wealth accumulated from millennia of use as a store of value than Bitcoin? Only Bitcoin or a variant of it.


Default how, realistically? A transient period measured in years to decades doesn't seem so bad to me as a way of preventing destitution at the hands of fiat-pushers.


And look at how much it is being denied continuance of its legacy by growing powers around the world. The dominant Silverback only maintains power for so long before his demise.


Those are years, if not decades away from actually occurring, let alone being economically worthwhile or even possible.

and this is where your economic model is exactly wrong.  sovereign debt defaults by themselves are driving the USD higher.  if UST's start to default this will drive the remaining USD's ever more skyward.  what about this don't you understand?  the debt buildup is directly responsible for the falling USD the last 4 decades.

and this is why you're a troll.  there are plenty of legitimate businesses here on the forum trying to make a "go" of it with a Bitcoin business.  you clearly despise this.  what's wrong with you?  are you that much of an anarchist?


actually we agree on this one.

As far as I am concerned, the US is mathematically certain to default on it's obligations at some point, and is likely to do so prior to it becoming mandatory anyway.  To the extent that I hold USD, it will be me who gets the shaft.  In the mean time any number of things could happen.  I've sat through similar periods of PM consolidation and never got in a panic about things.  I'm not even close to doing so this time either.


Thanks for finally sharing this tid-bit with us non-paying leeches.


I don't require or expect that it does either in order for gold to meet my needs perfectly adequately.


That is because it remains in a deep hibernation.  The only difference between now and when I was more outwardly vocal about it's potential is because it is not it a state of cardiac arrest at this moment.  If it's going to 'go', it now has at least the ability to get to the starting point.


Both of these are utter nonsense.  Transmutation has a theoretical potential worth keeping tabs on.

excuse me, but what is the reserve currency of the world?  USD's last i checked.  and in the midst of turmoil, what exactly is going up?  oh yeah, USD's.  and what exactly has been going down for almost a year?  gold and silver.


first of all, its not my core position.  i'm diversified thank you.  what boggles my mind is that someone like you could put your core position in heavy metals that will never function as a day to day currency and won't ever go back to being a reserve currency.

Bitcoin has remained unphased in this latest market turmoil and in the face of a rising USD.


what about all these articles lots of ppl have been linking to about asteroids and gold synthesis?

And a large inheritance to piss away never hurts either.


Gold is the most likely 'default' at this time and probably will be for the rest of my life.  I'm not especially happy about that reality, and if it every does realize the (rather unwelcome) 'mantle' I expect that it would be transient, but I'm a realist and simply want to take as few chances with my core nest-egg as possible.  I'm happy to gamble my excess on Bitcoin, and do, as I've stated many times.

It actually boggles my mind that a seemingly intelligent person would gamble their core position on something as unproven and misunderstood as Bitcoin.  Even more that they would, with a straight face, suggest that others do the same.  Especially in these times as so much is changing.

Oh ya, gold could easily go to zero when the alchemists finally find the prize they've been seeking and that would change my mind rather quickly.

yes, imo:

a gold bugs worst nightmare is Bitcoin.

all investing requires some degree of hope/intuition/guessing.  i've studied Bitcoin probably more than you have just from the mere fact of having been around longer.  we've obviously come to different conclusions.

the hope that gold will ever resume the mantle of the reserve currency of the world is not plausible imo.

i'm quite sure that gold could go to zero and i would never be able to change your mind.