i thought the USD was supposed to go down?
Patience, let the central bankers do what they do best.
not sure how anyone could be patient with silver off 46% from the top.
Topic: Gold collapsing. Bitcoin UP. - page 1479. (Read 2032274 times)
Patience, let the central bankers do what they do best.
not sure how anyone could be patient with silver off 46% from the top.
i thought the USD was supposed to go down?
Patience, let the central bankers do what they do best.
i thought the USD was supposed to go down?
it's that time again:
Charge!!!!!!!!!
Charge!!!!!!!!!
Actually AAPL is holding up rather well today I think. It's everything else thats in the dumper.. Well except FB
just a matter of time, baby. just a matter of time...
edit: come to papa.
it's that time again:
Charge!!!!!!!!!
Charge!!!!!!!!!
Actually AAPL is holding up rather well today I think. It's everything else thats in the dumper.. Well except FB
it's that time again:
Charge!!!!!!!!!
Charge!!!!!!!!!
One of particular note: Political leaderships vs. the populations.
It is not a stretch in my mind to imagine the political leaderships of many important nation states finding that they have more in common with one another than they find with their own increasingly unruly underclasses...and much less to fear.
It is not a stretch in my mind to imagine the political leaderships of many important nation states finding that they have more in common with one another than they find with their own increasingly unruly underclasses...and much less to fear.
Yes, if communication among populations has increased, you can assume it has changed for the upper echelons too.
oh silverbox,
BTC 5.16, gold 1559
BTC 5.16, gold 1559
This is like betting on black and red at the same time in roulette: you're going to win no matter what
Except when it lands on green.
oh silverbox,
BTC 5.16, gold 1559
BTC 5.16, gold 1559
This is like betting on black and red at the same time in roulette: you're going to win no matter what
I dis-agree. In a reasonably tight 'one world' solution a lot of the problems the EURO has (or pretends to have) would vanish.
let me give you several reasons why there will never be a one world currency:
N.Korea vs S.Korea
Taiwan vs China
USA vs Russia
USA vs China
Iran vs Israel
Palestine vs Israel
Israel vs The entire Middle East
did i miss any?
One of particular note: Political leaderships vs. the populations.
It is not a stretch in my mind to imagine the political leaderships of many important nation states finding that they have more in common with one another than they find with their own increasingly unruly underclasses...and much less to fear.
I'm not predicting this as a forgone conclusion, but it is something which would not surprise me. We are in fact more of a 'global community' than ever before in human history, and we are also facing some very interesting 'peaks' on a variety of fronts which are also new territory. The only thing I expect for sure is that we will see things in the future that we have not really seen in the past.
oh silverbox,
BTC 5.16, gold 1559
BTC 5.16, gold 1559
it was both. the US excessively printed but we were able to get away with it b/c we were the centralized custodian of everyone's gold (only we could count it realtime). we were able to get away with years of inflation throughout the 1960's to fund the Vietnam war. over time other countries caught on to what we were doing but probably didn't want to bother with coming to get their gold b/c it IS too heavy.
finally, France couldn't take it any longer and demanded their gold when the excesses could no longer be ignored. then we defaulted.
this is why Bitcoin would be so superior. with a keystroke the BOP could be settled nightly.
finally, France couldn't take it any longer and demanded their gold when the excesses could no longer be ignored. then we defaulted.
this is why Bitcoin would be so superior. with a keystroke the BOP could be settled nightly.
France was invaded during WWII, as was almost the entirety of Europe. Russia was perceived to be a looming menace in the period afterward. Would you want to cash out your bank account and keep it at home with a mob of thugs eyeing you from across the street?
Granted, transatlantic shipping always carries some risk, but the deliveries were made without event to the west. Any number of vessels were capable of carrying nearly all of Europe's gold in one run.
Today, dozens of supertankers are capable of transporting every above-ground ounce in the world with plenty of room to spare across the Atlantic in less than a week, and around the world in less than a month. As foolish as that would be, the capability is there - and not much slower than air freight. We may as well be arguing about China's woes in obtaining a measly 60+ tons.
And don't forget about teleportation! It may never be possible for complex organics, but a single atom is conceivable. But by the time that's feasible, we may have more pressing concerns
Additionally, if there is a war going on there would be significant risk of loss.... I had that in mind. 10% is still probably a bit high, but imagine shooting one of those from the sky. Melt it and reform the bars, and you're golden .
. Markets sometimes follow rumors more than reality... Should your cost of doing business really be exposed to a 10% rise if someone plants a few false seeds in the media? Sure, it's no worse than the current situation, I'm just saying Bitcoin would be superior and thus eventually it will win out as long as the internet and globalized trading continue.
10% rise?? wtf it doesn't cost $2000 to airmail 1 lb...
Again, I'm speaking about countries, not civilians. One pound ain't gonna cut it for international settlements. It will be sent in a military plane with a fighter escort. Not cheap.
A 747 filled with gold? Thats like 100 tons. 4.5 billion USD or thereabouts in gold About 500,000 USD for a international flight. Say another 500k USD for the fighter escort. 4500 million usd in gold 1 million usd to move it..
Thats .022 % NOT 10%
Again your 10% number is crazy high.
Try doing a lil math before you start spouting off about 10% fee..
You're right. It's still damn inconvenient compared to bitcoin. Sorry I was lazy and didn't feel like looking up 10 different figures to do the math. I can see it has upset you. Hey everyone, keep in mind I'm sometimes lazy and pull numbers out of my ass. Please don't believe anything I say without verifying it first.
lol, Great reply
. Sure gold isn't as convienent as bitcoin, but its unlikley a hacker will make off with your gold in the middle of the night in a few microseconds... Wouldn't it be fun to pull up in a 747 full of gold to someone who claimed you couldn't pay because of spurious media stories... Way more satisifying then a few clicks to send the BTC
. Check out my 100 tons of gold bitches!!! Markets sometimes follow rumors more than reality... Should your cost of doing business really be exposed to a 10% rise if someone plants a few false seeds in the media? Sure, it's no worse than the current situation, I'm just saying Bitcoin would be superior and thus eventually it will win out as long as the internet and globalized trading continue.
10% rise?? wtf it doesn't cost $2000 to airmail 1 lb...
Again, I'm speaking about countries, not civilians. One pound ain't gonna cut it for international settlements. It will be sent in a military plane with a fighter escort. Not cheap.
A 747 filled with gold? Thats like 100 tons. 4.5 billion USD or thereabouts in gold About 500,000 USD for a international flight. Say another 500k USD for the fighter escort. 4500 million usd in gold 1 million usd to move it..
Thats .022 % NOT 10%
Again your 10% number is crazy high.
Try doing a lil math before you start spouting off about 10% fee..
You're right. It's still damn inconvenient compared to bitcoin. Sorry I was lazy and didn't feel like looking up 10 different figures to do the math. I can see it has upset you. Hey everyone, keep in mind I'm sometimes lazy and pull numbers out of my ass. Please don't believe anything I say without verifying it first.
Markets sometimes follow rumors more than reality... Should your cost of doing business really be exposed to a 10% rise if someone plants a few false seeds in the media? Sure, it's no worse than the current situation, I'm just saying Bitcoin would be superior and thus eventually it will win out as long as the internet and globalized trading continue.
10% rise?? wtf it doesn't cost $2000 to airmail 1 lb...
Again, I'm speaking about countries, not civilians. One pound ain't gonna cut it for international settlements. It will be sent in a military plane with a fighter escort. Not cheap.
A 747 filled with gold? Thats like 100 tons. 4.5 billion USD or thereabouts in gold About 500,000 USD for a international flight. Say another 500k USD for the fighter escort. 4500 million usd in gold 1 million usd to move it..
Thats .022 % NOT 10%
Again your 10% number is crazy high.
Try doing a lil math before you start spouting off about 10% fee..
AFAIK, Nixon abandoning gold standard in 1971 was neither because we couldn't move gold fast enough, nor because gold centralizing didn't work.
i disagree. the US trading partners took the word of the US Treasury/Fed that theirs/ours gold reserves were actually present in Fort Knox (centralized). the trading partners left them there b/c it was too inconvenient/heavy to be moving around the world on a daily basis.
eventually the French got suspicious and called us on it. what did we do? DEFAULT.
The abandonment of the gold standard was redemption issue -- i.e. excessive printing -- not a centralization problem. French moving their gold back was just an failed attempt on gold suppression scheme: http://en.wikipedia.org/wiki/London_Gold_Pool Leaving gold with Fed has always been more of a political gesture than logistic issue, even today much of the Germany and Chinese gold are still left with NY Fed, you think because it's too heavy?
I still don't understand why you need to move gold around on a daily basis -- gold/silver certificates work just fine, as long as there's convertibility.
it was both. the US excessively printed but we were able to get away with it b/c we were the centralized custodian of everyone's gold (only we could count it realtime). we were able to get away with years of inflation throughout the 1960's to fund the Vietnam war. over time other countries caught on to what we were doing but probably didn't want to bother with coming to get their gold b/c it IS too heavy.
finally, France couldn't take it any longer and demanded their gold when the excesses could no longer be ignored. then we defaulted.
this is why Bitcoin would be so superior. with a keystroke the BOP could be settled nightly.
General Comment: Thanks, cypherdoc, for reminding me to do an update via your edit above.
As projected, the USDX ratchets back and forth while gold ratchets up. It's easily predicted by fundamentals...no subscription required.
Another Score: 5/22/12
year ago now delta mult
BTC 6.30 5.09 + 0.81
Gold 1512 1560 + 1.03
--------------------------
ref (for future updates):
http://bitcoincharts.com/charts/mtgoxUSD#czsg2011-05-08zeg2011-05-08ztgSzm1g10zm2g25zv (change date)
http://www.kitco.com/charts/livegold.html (hist cgi at bottom)
mult=now/year_ago
day ya-btc btc mult ya-Au Au mult
2012-05-22 6.30 5.09 0.81 1512 1560 1.03
2012-05-21 5.90 5.10 0.86 1514 1590 1.05
2012-05-18 7.50 5.12 0.68 1497 1592 1.06
2012-05-17 7.80 5.09 0.65 1480 1574 1.06
2012-05-16 7.40 5.09 0.69 1495 1533 1.03
2012-05-15 6.80 5.03 0.74 1492 1545 1.04
2012-05-14 8.50 5.00 0.59 1495 1555 1.04
2012-05-12 5.40 4.95 0.92 1505 1580 1.05
2012-05-11 5.00 4.95 0.99 1505 1580 1.05
2012-05-10 3.82 4.90 1.28 1510 1593 1.05
2012-05-09 3.75 5.03 1.34 1510 1590 1.05
2012-05-08 3.64 5.03 1.38 1497 1605 1.07
As projected, the USDX ratchets back and forth while gold ratchets up. It's easily predicted by fundamentals...no subscription required.
Another Score: 5/22/12
year ago now delta mult
BTC 6.30 5.09 + 0.81
Gold 1512 1560 + 1.03
--------------------------
ref (for future updates):
http://bitcoincharts.com/charts/mtgoxUSD#czsg2011-05-08zeg2011-05-08ztgSzm1g10zm2g25zv (change date)
http://www.kitco.com/charts/livegold.html (hist cgi at bottom)
mult=now/year_ago
day ya-btc btc mult ya-Au Au mult
2012-05-22 6.30 5.09 0.81 1512 1560 1.03
2012-05-21 5.90 5.10 0.86 1514 1590 1.05
2012-05-18 7.50 5.12 0.68 1497 1592 1.06
2012-05-17 7.80 5.09 0.65 1480 1574 1.06
2012-05-16 7.40 5.09 0.69 1495 1533 1.03
2012-05-15 6.80 5.03 0.74 1492 1545 1.04
2012-05-14 8.50 5.00 0.59 1495 1555 1.04
2012-05-12 5.40 4.95 0.92 1505 1580 1.05
2012-05-11 5.00 4.95 0.99 1505 1580 1.05
2012-05-10 3.82 4.90 1.28 1510 1593 1.05
2012-05-09 3.75 5.03 1.34 1510 1590 1.05
2012-05-08 3.64 5.03 1.38 1497 1605 1.07
Markets sometimes follow rumors more than reality... Should your cost of doing business really be exposed to a 10% rise if someone plants a few false seeds in the media? Sure, it's no worse than the current situation, I'm just saying Bitcoin would be superior and thus eventually it will win out as long as the internet and globalized trading continue.
10% rise?? wtf it doesn't cost $2000 to airmail 1 lb...
Again, I'm speaking about countries, not civilians. One pound ain't gonna cut it for international settlements. It will be sent in a military plane with a fighter escort. Not cheap.
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