/biz/ - Business & Finance

[Anonymous No.21391315]

gold is about to die
should we cash out crypto?

[Anonymous No.21391337]

lol, jews rug pulled the boomers

[Anonymous No.21391564]

>>21391315
I see a supply and demand channel.

[Anonymous No.21391713]

paper gold is about to die

[Anonymous No.21391756]

>>21391713

Exactly

https://www.youtube.com/watch?v=9EOPKizJ_Y4

[Anonymous No.21391787]

>>21391713
paper gold is the market

[Anonymous No.21391810]

Why was there such a huge dip in price anyway?

[Anonymous No.21391812]

>>21391787
this
there no actual gold, its a certs market

so funny when "physical gold" is anything but.

[Anonymous No.21391828]

>>21391315
no, but we should definitely laugh at peter schiff. again.

[Anonymous No.21391833]

>oi vey goy looks like there are several thousand tons of gold in this mine we only just discovered
>oi, a solid gold asteroid in our solar system, gold isn't too scarce after all, hope you didn't trade all your link for gold my friend

[Anonymous No.21391874]

>>21391787

Imagine a bank which gives out 100 paper claims to gold for every real ounce in the vault.

Then imagine everybody turns up at the bank at the same time to demand their gold.

That's what is going to happen to the COMEX, possibly as early as next month.

https://www.youtube.com/watch?v=D6DQtbn5nos

[Anonymous No.21391902]

>>21391315
Gold is dying because it was a safety hedge against global corona turmoil and now it's increasingly clear corona is a dud used for political purposes.

Also this: >>21391874

[Anonymous No.21391943]

>>21391315
Reminder that cash always wins

[Anonymous No.21391960]

>>21391943
>N

[Anonymous No.21391968]

>>21391874
>Then imagine everybody turns up at the bank at the same time to demand their gold.

nothing happens you swaped you USD for paper that was worth even less than that.

[Anonymous No.21391998]

>>21391315
>>21391943
Also reminding you that the only people thinking gold protects their money from being "inflated away" tend to not have much money anyways.

[Anonymous No.21392030]

>>21391943
N

[Anonymous No.21392040]

>>21391968

In this analogy, the COMEX is the bank, and the USD is the paper-claim to gold. Just as paper-claims lose all their value in the case of a classic bank-run, so the USD will do the same once the COMEX collapses. It will be like what we saw in the case of negative oil, except the opposite. Gold will immediately require double, triple, quadruple, the number of dollars to buy it as it did before--impossible to give an exact number, we simply know that gold will soar in the blink of an eye.

[Anonymous No.21392063]

>>21391787
remember what happened to paper oil in april?
I think there will be a premium on physical gold that could press the paper price down.

[Anonymous No.21392069]

>>21391943
BUILT for BBC (Big Berkshire Cock)

[Anonymous No.21392100]

>>21391810
Banks don’t want the price of precious metals to rise too much, people might feel like they need to take physical delivery of the metals instead of rolling their derivatives / contracts. There is massively more paper “gold” and “silver” in circulation than actually exists so the banks just sell tons of them to dump the price. The value in the physical market increases every day and you can hardly even find the stuff anymore it keeps being bought up

[Anonymous No.21392321]

>>21392040
no, no it wont,

they will let comex go to the wall and just keep printing.

People give not one shit about gold, they just know they like muh money and can buy things with it.

when was the last time people used gold to buy anything they use day to day, houses cars etc.

[Anonymous No.21392441]

>>21392100
Good explanation. Thanks

[Anonymous No.21392466]

>>21392321

If you think that people will continue to assign value to a derivative which is backed by nothing, you are delusional.