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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1805889 times)
marcus_of_augustus
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October 31, 2014, 07:36:15 AM
 #15101

Back to the gold topic.

There is a referendum in Switzerland, in November, which is likely to secure a yes vote that the SNB holds 20% of its assets in gold (currently at 7.6%). As soon as this passes the bank will have five years to reach the 20% target. There is no legal escape for it. Considering that the SNB balance sheet has recently blown out Fed/BoE/BoJ-style - it will have to buy up to 1,700 tons of gold in the open market - and take delivery!

http://www.zerohedge.com/news/2014-10-28/things-make-you-go-hmmm-swiss-gold-status-quo-showdown

I really think this will put a floor under the current gold price, and maybe even spark another medium-term rally.


Will be interesting to watch the weasels at the SNB try to wriggle out of it ... after the shit they pulled with the EUR peg anything is possible.

Shit is being pulled again! Seems like this...

 ...On the top floor of PayPal HQ the legendary Black Phone is ringing...
 Nervously the execs crowd around until one of them summons enough courage to pick up the receiver.
 There are no pleasantries, a voice just hisses: "Remember Wikileaks? Now its the Swiss Gold Initiative"
 Drrrrrrrrr. The caller has hung up, the unseen world bankster network hath spoken.

https://goldswitzerland.com/swiss-gold-initiative-2014/

Quote
On Wednesday, October 29, we have received notification from PayPal that they can no longer receive donations on behalf of Matterhorn Asset Management AG. The reason is that we are not a formally registered charity in Switzerland and that we must seek a different approach to raising funds for this extremely important Initiative campaign. During the past two weeks we have received donations from various parts of the world and many from the United States of America. We and the Initiative Committee, chaired by Luzi Stamm of the Swiss National Parliament, are extremely greatful for the contributions that we have received to date and this setback will not stop our effort and our commitment to go through with the Social media promotional campaign that will in fact start on November 1 in Switzerland.

what BS but ... bitcoin to the rescue!

This could make for some great publicity for both bitcoin and the Swiss Gold initiative.

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explorer
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October 31, 2014, 08:40:11 AM
 #15102

I wonder how much of a stretch it would be for the Swiss to achieve 20% gold holdings.  Do I recall correctly that they have ~7% at this time? If they just bide their time, it will probably come about organically, as gold goes up and the worthless paper becomes more... Worthless.

Meanwhile,  gold drops to 1175  Grin
marcus_of_augustus
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October 31, 2014, 09:09:59 AM
 #15103

I wonder how much of a stretch it would be for the Swiss to achieve 20% gold holdings.  Do I recall correctly that they have ~7% at this time? If they just bide their time, it will probably come about organically, as gold goes up and the worthless paper becomes more... Worthless.

Meanwhile,  gold drops to 1175  Grin

It's going to be an issue for them because while protecting their EUR peg (by selling CHF) they have managed to amass a huge war-chest of foreign assets on the order of $500 billion ... so now 20% of foreign holdings is goinng to be quite some gold ... unless they buy back those CHF or try some slippery accounting tricks like recategorisation of assets foreign versus domestic, etc.

BlindMayorBitcorn
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October 31, 2014, 09:58:47 AM
 #15104

Gold cracked 1180. This is big!

Forgive my petulance and oft-times, I fear, ill-founded criticisms, and forgive me that I have, by this time, made your eyes and head ache with my long letter. But I cannot forgo hastily the pleasure and pride of thus conversing with you.
Wekkel
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October 31, 2014, 10:16:13 AM
 #15105

Gold cracked 1180. This is big!

It means nothing if you stop measuring gold in USD. There is no final line in the sand.

Like this post? you can tip me (BTC) 1LGi2DMhectdFSkBid5srrnHk8WHgD3V1d or very WoW (Doge) D9p6FZQb1sKkq9hApy4tnjSduYfdnc74bb
cypherdoc
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October 31, 2014, 10:59:03 AM
 #15106

Gold collapsing. Bitcoin being assaulted by SC"s. 
Thomas-s
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October 31, 2014, 11:05:09 AM
 #15107

Gold cracked 1180. This is big!

It means nothing if you stop measuring gold in USD. There is no final line in the sand.
It's extremely bad for Bitcoin.
Bitcoin went to 275 when gold went to 1190.
devphp
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October 31, 2014, 11:06:19 AM
 #15108

Smells like the infamous "blood-in-the-street" time begins.
DeadCoin
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October 31, 2014, 11:10:54 AM
 #15109

Gold is in a bear market, what did you guys expect? 1180 was bound to be broken sooner or later. It's going sub $1000 soon, $600-$800 is very likely within next 2 years.
cypherdoc
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October 31, 2014, 11:12:05 AM
 #15110

Smells like the infamous "blood-in-the-street" time begins.

It's much worse than that for Gold as money.

The GDX & GDXJ are signaling much more down side.

If only Bitcoin could shed its techno communists.
cbeast
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Let's talk governance, lipstick, and pigs.


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October 31, 2014, 11:13:49 AM
 #15111

If there's blood, then the sharks will be coming. Wall Street pressure to approve the ETF, perhaps?

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
NotLambchop
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October 31, 2014, 11:17:16 AM
 #15112

... techno communists.

wachtwoord
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October 31, 2014, 11:20:57 AM
 #15113


Yeah the term is really funny Tongue

cypherdoc
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October 31, 2014, 11:23:16 AM
 #15114


I can't take credit for it. Got it from JR. Although quite appropriate.

And for once, i like the picture Lamb chop!
justusranvier
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October 31, 2014, 01:54:54 PM
 #15115

Back to the gold topic.

There is a referendum in Switzerland, in November, which is likely to secure a yes vote that the SNB holds 20% of its assets in gold (currently at 7.6%). As soon as this passes the bank will have five years to reach the 20% target. There is no legal escape for it. Considering that the SNB balance sheet has recently blown out Fed/BoE/BoJ-style - it will have to buy up to 1,700 tons of gold in the open market - and take delivery!

http://www.zerohedge.com/news/2014-10-28/things-make-you-go-hmmm-swiss-gold-status-quo-showdown

I really think this will put a floor under the current gold price, and maybe even spark another medium-term rally.


Will be interesting to watch the weasels at the SNB try to wriggle out of it ... after the shit they pulled with the EUR peg anything is possible.

Shit is being pulled again! Seems like this...

 ...On the top floor of PayPal HQ the legendary Black Phone is ringing...
 Nervously the execs crowd around until one of them summons enough courage to pick up the receiver.
 There are no pleasantries, a voice just hisses: "Remember Wikileaks? Now its the Swiss Gold Initiative"
 Drrrrrrrrr. The caller has hung up, the unseen world bankster network hath spoken.

https://goldswitzerland.com/swiss-gold-initiative-2014/

Quote
On Wednesday, October 29, we have received notification from PayPal that they can no longer receive donations on behalf of Matterhorn Asset Management AG. The reason is that we are not a formally registered charity in Switzerland and that we must seek a different approach to raising funds for this extremely important Initiative campaign. During the past two weeks we have received donations from various parts of the world and many from the United States of America. We and the Initiative Committee, chaired by Luzi Stamm of the Swiss National Parliament, are extremely greatful for the contributions that we have received to date and this setback will not stop our effort and our commitment to go through with the Social media promotional campaign that will in fact start on November 1 in Switzerland.

Anyone else get the feeling they might not keep the powder keg from blowing this time around?
cypherdoc
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October 31, 2014, 03:21:42 PM
 #15116

flat out, no holds barred, sell signal.  gold breaks the intermed term, multi month descending triangle to the downside on high volume.

imo, once again, this will be good for Bitcoin.  just be patient!:

conspirosphere.tk
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October 31, 2014, 03:25:58 PM
 #15117

Quote from: cypherdoc link=topic=68655.msg9394643#msg9394643
imo, once again, this will be good for Bitcoin.  just be patient!:

I hope so, but to me they seem more positively correlated than not.

cypherdoc
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October 31, 2014, 03:26:15 PM
 #15118

oh Lordy:





and i weep.  but i can't complain having made plenty on the last ramp of these 2:



cypherdoc
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October 31, 2014, 03:29:31 PM
 #15119

Quote from: cypherdoc link=topic=68655.msg9394643#msg9394643
imo, once again, this will be good for Bitcoin.  just be patient!:

I hope so, but to me they seem more positively correlated than not.

i won't deny that, lately.

but the long term divergence is still present and we're still all the way up at 339 which is pretty good depending on your entry point.  think of it this way; some how the world economy continues to progress and develop despite all the shenanigans going on with the world elite and financial system.  i think they will have to resort to greater efficiencies enable by Bitcoin to keep the whole game rolling forward and avoid Armageddon.  gold and silver plunging tells me that this will happen; eventually.
cypherdoc
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October 31, 2014, 03:33:58 PM
 #15120

this is actually very bad news for all the doom and gloomers; the Dow Theory non-confirmation that was never confirmed, didn't get confirmed, and in fact is off the table.  sorry, no Armageddon:

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