/biz/ - Business & Finance

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i normally don't post more than "crypto nerds will seethe" (because not much more needs to be said), but i just had a thought about why gold and silver keep crabbing.

blackrock manages over $10 trillion and the vanguard group manages another $7.7 trillion. the value of all gold and silver contracts traded daily is nowhere near that much. why won't blackrock/vanguard step up and buy that for massive paper gains?

because gold and silver have uses beyond being a store of value. they're industrial metals, and if the price of the metal goes up, everything that uses gold and silver goes up too.

>muh plastic bottles

stfu. they're made with machines that use gold and silver in their construction. price of buying/maintaining/replacing those machines goes up, your plastic crap goes up in value

crypto is the perfect vehicle for paper gains. blackrock buys lots of shitcoin, forces the price up, people buy to and drive price up higher. then blackrock sells for massive gains, and people panic sell driving the price lower. then blackrock buys and starts the cycle again. crypto is an easy target for manipulators.