Topic: Gold collapsing. Bitcoin UP. - page 1557. (Read 2032281 times)

Gold is not going up. It's the dollar that's losing value.

If anything in the marketplace should be the yardstick of value, it is gold, not USD. So you should price USD in terms of gold and you will see a very different picture. Don't let the "upward run" of gold deceive you. Gold isn't changing, the dollars are.

It's about time people start realizing that all the massive growth our civilization experienced in the 20th century is mainly thanks to cheap and abundant fossil fuels. Energy is still abundant, in fact it's more abundant thanks to renewable energies, but it's far from cheap. Energy is getting more expensive all the time because energy demand is growing higher and at the same time energy sources with high EROEI are becoming more and more scarce.

Coal is the only energy source that's truly competitive with oil and it happens to be the most polluting energy source available. Honestly I have to laugh at any arguments that support an overall growth scenario for this decade. The whole decade is a time of fundamental decline. Perhaps next decade things will truly look brighter, maybe slightly earlier if we start an accelerating change in our energy production and consumption patterns.

Do you have any target on gold/silver cypherdoc ?
I have to admit that i didn't believe you back in July, even if a correction clearly made sense.
Now the real question is where the bottom will be... We're not there yet, i do think PM will go down with stocks, and the correction in stocks should happen (soon ?).

I see little chance of a larger correction to gold price unless the economy starts a miraculous recovery, which I don't believe in. Peak oil is still the most relevant problem that probably won't go away easily, next decade the earliest. Energy is the backbone of the whole economy and the gradually and slowly rising energy prices are a major source of friction in the economy causing everyone to take on more debt. Players in the economy are desperately trying to sustain growth while fundamentally there can be no growth because the energy to support that growth is simply not there.

Thus the problem is much deeper than many realize, in the current situation every time the economy "recovers" oil demand spikes and then oil prices spike causing another major crash. In fact the crashes get bigger every time, with the world being still so dependent on oil. I expect that what we saw in 2008 will be small once we hit the next cycle.

I expect the economy to do a larger fake recovery soon, but then we will go much deeper than in 2008. Simply because not enough has been done to reduce dependency on scarce resources such as oil. Global oil production hasn't increased since 2005 most likely, yet demand keeps going up thanks to China and other growing economies.

Gold bugs know all of this and will certainly feel more safe with gold than USD. Even though I'm quite bullish on Bitcoin long term, I still hold significantly more value in gold than in bitcoins. This could change but slowly, over a period of many years. Once I feel more confident about the economy and the state of Bitcoin I might consider changing more gold into bitcoins.

No way. Gold bugs are all about the physical. Their 40 year scenarios involve a global meltdown and general SYSTEM FAILURE, a "gold" that requires a functioning internet and power system would be laughable to them.

thats the idea.

So will the gold bugs start fleeing the ship and buy some BTC?

this could be big.

 

ya i agree gold is due for a Major correction.

Gold Line keeps calling me telling me its not a bubble ...

Gold collapsing? I don't follow the metal prices. Link?

They better start investing in Gold 2.0