Topic: Gold collapsing. Bitcoin UP. - page 1504. (Read 2032274 times)

lol I like that.

One thousand ounces for a Bitcoin is fine too.

First step: Silver parity.

but what if they invert?

Will be picking up some gold once we get to BTC/AU parity.

the headache must be huge about now; btw, what's the score?

no reason to be bitter.  It was predictable according to cycle theory.

It's much the same as what happened during 2008: assets that are still in the green have to be dumped to cover losses. The game of wealth concentration continues - the fearful and leveraged get forced out at a loss, selling directly into the hands of big players under cover of Armageddon.

Meanwhile, physical precious metals demand is higher than ever. Nothing adds up correctly on the paper side. In the race to debase, Euro below $1.25 pushes the Fed to act.

Bitcoin holding beautifully in the face of this stock/gold/silver/oil/commodity selloff.  We're forming a series of hammers and the oscillators are narrowing preparing for launch.

pm's sinking faster and faster now that we've cleared $1600...it will get worse once we clear the December lows...

I mentioned it because your comments seemed to recognize the potential value of merged-mining and 'sharding'.  Both are elements of the 'bakcoin' concepts that I was musing about.

 - snip - different post to consider scalability at some later point in time.

This has always been a simple issue for me.  The price is whatever I can obtain a 1-oz KR for from my dealer.

I'm not sure what metric I'm going to use if the dealer's supply runs out (if I want to be a seller.)  I could imagine worse problems to have...assuming an absence of legal issues which may pop up around ownership and exchange of PMs.

Its a race to see who can print the fastest  

I find it particularly telling that the dollar index still can't get a handle above 80 with everything else diving, and the long bond isn't exactly skyrocketing either.

If that were to happen, purchasing power would be preserved for the USD. However, like the planets in our star system would be if the sun were to go supernova and collapse to a dwarf, the inflationary damage has already been done to nearly every national currency outside of the the US. Should Europe decide to inflate, demand for gold will continue virtually unabated - which seems especially likely now that short-sighted socialism is infesting that part of the world.

With a stable dollar and most, if not all other global currencies in turmoil, good luck getting paper to be readily accepted outside of North America. Germany is mortally fearful of inflation the better part of a century after the Weimar Republic's financial travesty, so to think populations experiencing paper putrescence within their own lifetimes will dance right back to it is simply mistaken.

If it weren't for the countless dynamic threads in play right now, I might see both paper and physical gold potentially declining to 3 digits again. However, I can't agree with you at this point, or we'd both be wrong

There is no turning back no matter what Bernanke's Fed does. Game over.

As for the article, in relation to paper vs. physical precious metal prices: the real value of gold (and perhaps silver) will be even more obscured than it already is.

I just did it yesterday!

I have a headache

Ben:  "Hmmm, interesting article.  Do I really want to give up my power as THE Central Banker of the World?  Do I want to be known as THE Central Banker who destroyed the greatest country the world has ever seen?  Do I really want to turn power over to Putin, the Chinese, or the Mexicans?   Nah, no more QE.  Let's see if I can take gold back down to $500 and teach these guys a lesson and then we can start over."

Another Score:  5/8/12

          year ago    now       delta mult
BTC     3.64         5.03       + 1.38
Gold    1497         1605      + 1.07


--------------------------
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

This is monumental - it is the complete separation of paper & physical:
Central Bank Demand to Change Gold, Silver Markets and Prices

what, you only want to give the score when you want to?

This is a good start.  Sweet!  Now if we can just get to the sub-$25 range in the next month it would be quite handy for me as I need a sink for some USD variety funds.

I'd actually prefer to have more gold than more silver at this point but I'm afraid that the Chinese are going to put in a pretty solid floor above the price which I would consider 'the deal of the day.'

Maybe I'll just buy a new toy instead.  I've always wanted an excavator and have some projects which I could use to justify such a thing...in my mind at least.