/biz/ - Business & Finance

>>55515482
The jews already figured out how to destroy gold-backed currencies. This won't last long.

>>55515482
You mean gold backed or gold backed like the ruble?

>>55515502
Yes, but that process typically involves global war. Is your body ready?

>>55515482
The total marketcap of gold is only $ 12trillion. What happens when they run out of reserves?

>>55515544
This will reduce demand for USD while increasing demand for gold. Ultimately that means dollar go down, gold go up. Good mkap gonna multiply fast

>>55515482
if that was true then gold would be sold out everywhere and people would be buying up gold. Thats not happening because no one gives a flying fuck about shiny rocks. People want money thats digital and easy to use. Not fucking rocks that can't buy shit online.

>>55515901
If I was a moron with no education on the subject this is what I'd think too.

>>55515544
Gold to $300k

heh nothing personnel, third worlders

>>55516120
just sell before they start mining it. this is the dumbest fud.

>>55516140
this thread is about a multinational currency backed by gold, not /PMG/ dummy

>>55516147
yes, your pic related is still retarded. if somebody starts mining that shit there's still plenty of time for contingencies. also the US won't do shit, private companies will mine it, if at all. and that's in 2080 or later if civilization still exists.

>>55516187
we agree it undermines a currency backed by gold

Still no-one wants your shiny rocks dumb boomers

>zerohedge
kek

>>55516202
it would completely and utterly hyperinflate it, yes. that much is obvious. similarly but much worse like the gold from south america did back in the 16th century.

>>55515544
The current dollar exchange value for gold will not remain unchanged if gold is remonetized. In other words, the exchange value of gold will increase until it meets the demand for gold as a medium of exchange. If the BRICS successfully make significant inroads into the reserve and trade status of the dollar using a gold-backed currency, expect rather dramatic increases in the exchange value of gold.

>>55515482
Go all in Metal right now /biz/
I warned you

>>55516251
I anticipate USD falling in tandem if successful but say it were today what change in the total market cap of gold do you anticipate?

>>55515544
i wish i had saved it but there was a china anon on /pol/ a few years back that made a great post about how china has been stockpiling as much gold as it can get it's hands on in preparation for BRICS. it also went into detail about the belt and road initiative and how they are going to build a direct route to russia for trade.

>>55516202
In the same way that alchemy does, until someone actually makes money on bringing back commodities from space it's just theoretical. Global nuclear conflict is currently a more likely issue for all stakeholders in the global economy than hyperinflation due to asteroid mining.

>>55515692
>This will reduce demand for USD while increasing demand for gold.
What are they gonna buy the gold with? Gold backed currency?
>>55515692
>>55516100
Two more weeks.

>>55516998
They will get it from other countries who want to buy their shit or their currency.

>>55516998
If they are vying to replace USD as reserve currency, they will trade commodities for gold.

>>55517043
they wont trade gold, they will trade sheets of paper with gold IOUs. Imagine a country having to ship $50,000,000 in pure gold across the world in order to make payments. its no different than what anything is now

>>55516988
>until someone actually makes money on bringing back commodities from space
would some cunt not just stake their claim to the entire quintillion billion asteroid and work out the details later

>>55515544
It will be backed by a basket of commodities not just gold

>>55517201
No. Until some sort of miner gets up there, everything is theoretical.
So gold is safe for another 100 years minimum.

>>55515482
So......you are expecting China, Russia, Brazil....to be honest about their holdings..LOL. Unless they make the currency out of said metals it is just a grift

Just make money out of silver, copper, and whatever other mix of shit you can come up with that has value.
It doesn't need to be 1:1 but it does need to have some value (because I know the faggots can't let go of their child raping policies about how fiat this and blah blah it can't be worth this much because I sacrifice this many children to Molach. I just don't care to fight it.)

>>55515482
does that mean you can trade your brics bucks for gold without paying transaction fees? Or is it just meaningless "for real its totally gold backed we swear"

>>55515482
uh-oooohhh the tribe isn't gonna like this one.
and too many leaders to gaddafi this time.
hell maybe whites in SA will make their country not a complete shithole again since they won't have to pander to the merchants. that'll really piss off some noses.

>>55515544
>The total marketcap of gold is only $ 12trillion. What happens when they run out of reserves?

The trick is that you never run out of reserves if you revalue gold. But if you're not going to allow that, then BRICS has already listed alternatives (see image) to peg the BRICS currency to.

>>55515482


not only will this boost gold in real terms, but note that the nominal price is extremely undervalued due to USA keeping the price down by printing endless futures contracts. although most pronounced in silver, this could lead to a giga short squeeze in metals. I am all in on silver literally everything besides a small IRA hedge in the major indices. bitcoin and crypto are played out and are a textbook case of hysteria when something has mooned people expect it to continue. the real money is made on things people have all but forgotten getting a shitload of cash injected like pm's

silver to 1000$

>>55516120
Space is fake and gay

>>55516100
basado
gonna sell my Chun-Li for $500k, firm

>>55515482
They almost have to do this Russia has billions of India's rupees which are all but worthless to them because they can't buy anything they need with them, but at the same time still need to sell them their oil. So the only way to go about this is establishing a gold backed currency that no one BRICS nation can devalue through printing.

>>55516120
We won't have a clue what it's even made of until 2026 when the first probe reaches it, as of right now it's all speculation.

>>55515482
India already backed out faggot

>>55515482

>>55517829
the marketcap would continuously increase as scarcity sets in

>>55516120
>just land on a meteorite
>just mine tons of gold
>just bring it back to earth
>its fucking easy bro

>>55517991
Also takes 4 years to get their and you have to do that when mars is in the right spot to be used as a sling shot.

>>55516120
>Noah (((Smith)))

>>55518057
The more I look into it the more it becomes apparent that the scientist working on the project hyped it up to the media as being this Trillion dollar mineral rich astriod to gain that NASA funding/grant money. Then when they got the grant money and the probe was launched they used actually telescopes to do further examination of the asteroid to find out it was made mostly of IRON.

So they’re all just gonna stop deficit spending? This is 100% gonna fail

>>55518170
It's easy when you're an export economy. But they don't teach macro in the Chicago School

I bought gold as soon as this was announced and I feel good about this

also, if the comex tries to manipulate it down substantially then I'll just buy more

honestly I thank the us gov for making gold like 10x less expensive than it should be

>>55515482
Gold is retard money. As with the TRPF, combined with market saturation, only a inflationary universal mean of exchange can create the illusion that profit can still happen. That is ex nihilo created FIAT.

>>55515482
Why can't they just use bitcoin instead?
Literal reserve currency.

gold is now a stable asset

seethe gold cucks

>>55518293
gold is inflationary

>>55518307
not a currency

>>55518312
1 day chart with meme lines

>>55518331
Bitcoin is indeed a currency and is way more decentralized than gold..
In fact gold can be falsified, can be confiscated fairly easily, is harder to carry, is hard to verify, and is outdated shit from medieval times..
Absolutely shitcoin
Bitcoin is quiet solid, can be used as a daily currency is way mroe trustworthy, easier to use and all that, can be carried anywhere, is easier to store too..
Actually I heard china nad russia is buying huge quantities fo Bitcoin, so could be that they will also use it

>>55518293
fiat + 99% of crypto = retard money

>>55518170
there will be brics money and their national currency, so local markets will still run on yuan/ruble/rupee while international trade is done on brics bucks.
So stability for the leaders, inflation for the masses.

>>55518357
incorrect

>>55518265
This guy gets it.

>>55516120
We can't even fly to the moon anymore because the world's getting dumber and whites are dying off, so what makes you think we'll be able to land on an asteroid who's course is infinitely more complex than the moons? Dumb fuck, civilisation is collapsing.

>>55517897
>t. a man of wealth and taste

>>55515482
Yeah I'm sure the jews who now own all the gold would hate that

>>55520187
The last lunar landing was in 2019 anon.

>>55516120
Imagine reading this and believing it has any bearing on human history for the next 500 years. We're barely capable of reusing rockets, and the amount of fuel required to lift comparatively lightweight craft from Earth is enormous. How do you propose we mine asteroids in deep space and bring tons of material back and forth to Earth? You faggots are delusional if you think this is in our immediate future.

I literally sold 5 maples of 1 OZ yesterday, what a bad timing

>>55516998
Their trade surpluses.

>>55520503
it’s been on the news all weekend you dumb fuck

>>55518357
>Bitcoin is indeed a currency and is way more decentralized than gold..
In fact gold can be falsified, can be confiscated fairly easily, is harder to carry
And which of these points makes you think that a government that is one of those centralized owners would prefer to push Bitcoin as a currency?

>>55515544
bitcoin is only five hundred billion
oh no guess bitcoin can't become the world reserve currency

>>55516120
sad part is it'll still hold its value more than the usd

>>55517908
>gold backed currency that no one BRICS nation can devalue through printing.
They can devalue it by changing how much gold 1 unit of currency represents. In the end it's the same as fiat if you think about it.

>>55516944
I did some rough calculations last year. I made some big assumptions about how much gold China has, how that would need to be divided to back the existing supply of yuan, how that would convert into dollars, and came up with about $20,000 per ounce of gold. But this was before the BRICS started talking. If they issue an entirely new currency, they can back it with gold at whatever ratio they like. The exchange value of the currency will probably swing wildly against other currency for a time, but then settle down. Very hard to predict because global remonetization of gold would result in a massive increase in demand with little immediate increase in supply. Also, the phony spot price will break overnight as the fraud of the London market is exposed. I think 10x is an easy reach.

>>55515544
> The total marketcap of gold is only $ 12trillion
remember when the first bitcoin transaction was 10,000 btc for a couple pizzas? gold can always go up in value. silver is better tho.

Gold is not real you idiots

>>55522073
feels real to me. seethe harder bitcoin jew.

>>55516998
Funny how MMT hypnosis causes people to forget that production of goods and services is the whole fucking point and money just makes trading those goods and services more convenient. When gold is remonetized, it becomes a fungible medium of exchange that represents goods and services in trade. So you "buy" gold with goods and services, then use the gold to buy other goods and services. The only difference from what we do now is that banks and governments can't print gold to make themselves rich.

>>55517199
Actually, it would be pretty easy to ship $50,000,000 in pure gold. Even at today's artificially suppressed rates, that would be less than a ton. You could move that much every day by Fedex and not even cause a ripple.

>>55517212
Unlikely. Other commodities are problematic because they are not fungible or spoil or take up too much space. Also, gold is the only commodity all the BRICS have in abundance. And trying to back a currency with multiple commodities creates the bimetalism problem times ten. The value of the components in your basket keep shifting relative to each other. It's a mess. The more the BRICs think it through, the more gold becomes inevitable.

Well yes how long does it take before human greed get the better of them and then they print more than whatever they have in their vaults.

1971 Nixon all over again.

>>55522174
>The Chinks might rug pull sometime in the future so ignore that fact the US rug pulled in the 70's and have been devaluing their currency every year since

>>55517408
To gain the trust of the world they will have to be open about redeeming. Even more importantly, to keep their coalition together they will have to keep an eye on each other. Otherwise, they will start to undermine the currency by inflating it. It is actually better to have it issued by a coalition that doesn't really trust each other.

>>55515482
I will never be a part to anything' backed by iron bar that failed to make any millionaire since the history of time. Would you live happily from 10% ROI on USD via SpoolFi or 4% from gold reserve with no hope in the future.
>Russians has seen hell under Putin.

>>55522315
they could make it only redeemable by brics joiners

lol, would be hilarious, I mean usa decided to stick our dicks into every beehive, I personally would just be satisfied with monroe doctrine, just annex the mexicans south america and canada already, I mean they already are letting millions of mexicans in, just annex them as a slave state so we can have a china tier producer in our backyard to import products from

>>55517829
so you can just peg BRICs currency to any other commodity to increase total supply?

This is literally no different from fiat - this is just fiat with extra steps.

>>55522448
>a commodities-backed currency is fiat with extra steps
you can't print steel, retard. even if they have to multipeg to commodities other than gold it is still a stable reserve of wealth and kind of a labor-backed currency, not a guessing game of how long the fed will leave the printers running this month.

>>55523070
Why do so many people pretend like they know how economics works or that it is a predictable system.

It's just human behavior and trying to figure out a way to enable humans to interact with each other...which is unpredictable.

>>55523070
>you can't print steel, retard. even if they have to multipeg to commodities other than gold it is still a stable reserve of wealth and kind of a labor-backed currency, not a guessing game of how long the fed will leave the printers running this month.
Ah yes. As we all know its stable to peg your economy to bananas and rice.

You are an actual retard my man. Honestly just shut the fuck up. This is just FIAT.