/biz/ - Business & Finance

>>22266836

Depends on which governments you mean. Governments all around the world have been hoarding gold, and dumping treasuries, since 2008, and the process has only accelerated during the last few years. First after the late 2018 stock market crash, when the Fed failed to raise rates, and had to re-start Q. E.; next after the repo crisis; now after Q. E. infinity. And now we are seeing things like this:

"China To "Gradually" Sell 20% Of Its US Treasury Holdings, May Dump It All In Case Of "Military Conflict": State Media"

https://www.zerohedge.com/economics/chinas-state-media-strongly-teases-nuclear-option-dumping-all-us-bonds-extreme-case

So we are going to back to a gold standard, whether the West likes it or not. The world doesn't want to waste its commodities in exchange for worthless paper any longer. It sees that the U. S. can never pay back its debts. It is desperately trying to get into a seat before the game of musical chairs stops playing. We'll go back to gold by force, not because of the West's desire to do so.

>>20786019

>>Bitcoin is not a part of the current financial system, it is a challenger to it.

I agree with you about this, and have said as much myself. "Bitcoin is a direct competitor with gold. Take away that dream, and the price collapses immediately." >>20782917 Peter Schiff talks about Bitcoin so much for good reason. My contention is that it is a bad competitor, and will fail.

>>You know, math. 2+2=4. Not allowing a handful of people to inflate away the other 7 billion people's wealth with the stroke of a pen.

The inflation-hedge argument for Bitcoin is why I said, in this post, >>20780626 that Bitcoin will fail. Once the dollar dies, the world will go back to gold; and countries have been dumping treasuries, and hoarding gold, since 2008. But, once that return to sound money happens, the inflation argument for crypto is gone, and only privacy remains as a use-case.

>>Also, Bitcoin will be upgraded in the future, but network security is the only thing that matters now.

Read Mike Hearn's article; this simply isn't true. If I recall, even the Lightning Network would only open BTC to perhaps 20 million people. And the fact is that, when you add second-layer solutions, you destroy privacy. You become tracked and traced. Hence the last use-case for BTC, privacy, is unattainable, and BTC is inherently worthless. It was crippled at birth by Blockstream.

>>These are pajeet scammers and poor fags hoping for a moon shot. Both have the IQ of a pet rock and should be ignored.

This simply isn't fair. There are innumerable intelligent people who fall for crypto scams every day. Vulnerable people who get taken in and conned. Most people are not technocrats, and never will be. Most people will never have the specialized knowledge to understand why a coin is good or bad. Hence, when you prop up crypto, you _must_ prop up technocracy, and disadvantage everybody else. It is unfair to expect everybody to be experts in technology. By contrast, everybody understands gold.

>>20722783

The rest of the world has been dumping treasuries and hoarding gold since 2008 in anticipation of precisely what is going on right now. When they see that the U. S. needs to print tens of trillions simply to keep the ponzi-scheme propped up for a few more months, and that that is only the beginning, they have no reason to hold dollars any more.

>>20722407

Buy gold, silver, the GDXJ and SILJ.

>>20722437

The world has been dumping treasuries for gold since 2008. Everybody has been getting ready for the great reset. There is no avoiding it now. Not when everybody can see that the U. S. has to print tens of trillions simply to keep this ponzi-scheme propped up for a few more months. Besides dropping helicopter money onto people at breakneck speed, because real unemployment is now 40%. A consequence of failed central bank Keynesian policies. The U. S. has to do so much Q. E. that it can't even let yields go to 1% without crashing everything into oblivion. The debt-trap is inescapable. Default or hyperinflate, there is no alternative.

>>20703952

You're welcome. Central banks have been hoarding gold since 2008, because they can foresee what is coming; this obviously puts demand on the supply, but there is still time to get some yourself. It was better to buy gold at $1450 than at $1900, but $1900 will seem cheap when it goes to $5000.

Central banks have not begun to hoard silver yet. Silver is still extremely cheap. Historic ratio with gold is G:S 1:14; if silver were monetized again, which is not unlikely, it would probably revert to this. Current ratio is 1:80; hence silver may go 5x in relation to whatever gold goes to.

https://goldsilver.com/blog/the-potential-looming-catalyst-for-silver-no-one-sees-coming/

>>18608926
>didnt the central banks start hoarding gold like the fucking dragon from lord of the rings since the start of this year?

>>18561254
>holding gold now it's pointless
You may want to let the central banks know