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June 09, 2013, 07:23:12 AM |
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My big issue, and I am not against gold bugs, a lot of what they say makes sense, but almost every gold bug I have read or talked to says at the end, well the gold price should be X but its x/10 because of manipulation by gov/corp/bank/mining etc.
And this seems to be one huge floor in gold bug theory/position that physical gold can be endlessly manipulated/seized/outlawed by central govs....so this fatal floor undermines the who gold bug position of gold as a store or reflection of value.
While BTC / CC can be manipulated the limits of manipulation are much clearer, and the fundamental backing (maths) and self interest to keep the supply at 21 million (plus all other properties), make BTC much superior to GOLD.
I am interested to hear from gold bugs (and others) on why rampant at will manipulation of gold does not undercut its whole value in the Gold bug position/theory/paradigm.
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