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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1804527 times)
wachtwoord
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December 03, 2013, 10:16:42 AM
 #7001

Yup I would say the rise of crypto is a negative catalyst for PMs.

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marcus_of_augustus
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December 03, 2013, 10:21:03 AM
 #7002

I'm not so sure ... if a determined group of crypto holders were to effect a physical short squeeze in the PM market things would get very, very interesting.

It is largely due to the unwillingness of the billionaire establishment set to take on the fiat banksters in the PM markets and dump their debt 'assets' that the wretched paper game has gone on so long.

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December 03, 2013, 10:29:23 AM
 #7003

I'm not so sure ... if a determined group of crypto holders were to effect a physical short squeeze in the PM market things would get very, very interesting.

It is largely due to the unwillingness of the billionaire establishment set to take on the fiat banksters in the PM markets and dump their debt 'assets' that the wretched paper game has gone on so long.

Everyone has their price. Go play with Comex, with or without friends taking large positions, promise yourselves you'll insist on physical delivery. The price will go up to match, and they'll end up throwing money at you to go away. At some point you will.

Edit: personal specifics removed
marcus_of_augustus
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December 03, 2013, 10:44:54 AM
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Everyone has their price

Hehehe, i think you underestimate the new breed coming through .. this is about money but is NOT about THE money.

wachtwoord
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December 03, 2013, 10:53:15 AM
 #7005

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Everyone has their price

Hehehe, i think you underestimate the new breed coming through .. this is about money but is NOT about THE money.

It's about wealth and power. Ain't it always? Wink

Grafzep
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December 03, 2013, 10:54:08 AM
 #7006

Ha, good point. That would be the real black swan.
rpietila
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December 03, 2013, 01:02:48 PM
 #7007

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Everyone has their price

Hehehe, i think you underestimate the new breed coming through .. this is about money but is NOT about THE money.

Hehe, who would accept fiat in exchange for delivery of silver. If they don't have BTC or silver, they better have gold. Lots of it  Grin

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December 03, 2013, 01:44:50 PM
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Everyone has their price

Hehehe, i think you underestimate the new breed coming through .. this is about money but is NOT about THE money.

Hehe, who would accept fiat in exchange for delivery of silver. If they don't have BTC or silver, they better have gold. Lots of it  Grin

Er, pretty much every player, every settlement day. People take profits, reinvest, diversify, pay school fees...  There's a whole world out there of people making money on the opportunities and passing on the the kool-aid.

wachtwoord
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December 03, 2013, 01:46:11 PM
 #7009

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Everyone has their price

Hehehe, i think you underestimate the new breed coming through .. this is about money but is NOT about THE money.

Hehe, who would accept fiat in exchange for delivery of silver. If they don't have BTC or silver, they better have gold. Lots of it  Grin

Er, pretty much every player, every settlement day. People take profits, reinvest, diversify, pay school fees...  There's a whole world out there of people making money on the opportunities and passing on the the kool-aid.



Well of course but I'm pretty sure rpietila knows this Wink

Grafzep
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December 03, 2013, 01:58:58 PM
 #7010

No doubt. At the end of the day, we're amongst friends here: just quibbling at the margins of our preferred PM:BTC:$:property:etc ratios
rpietila
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December 03, 2013, 02:13:14 PM
 #7011

If someone would take the effort to call the worldwide silver bluff, he will not take fiat.

btcprice
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December 03, 2013, 02:21:36 PM
 #7012

Gold is down to $1220/oz. Our precious bitcoin is up to $1155. Could we see parity again soon?
Grafzep
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December 03, 2013, 02:34:10 PM
 #7013

If someone would take the effort to call the worldwide silver bluff, he will not take fiat.

And who is this "someone"? You?

Can't you see it's close to "buy all the bitcoins". It ain't gonna happen. Forty years ago the multi-billionaire Hunts had a go (back when a billion really was a billion). They had their butts handed back. For the last decades every anarchy-conspiracist who's read Ted Butler thinks they've found "the squeeze". You seem to have made a good living buying and selling the stuff - don't do your own gear.
wachtwoord
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December 03, 2013, 04:00:51 PM
 #7014

gold has been around for 4000 years, i bet it will be around 4000 more Smiley
Horses were the primary form of land transportation for those same 4000 years.

How much has daily life changed in the last 100 years, to say nothing of the last 4000?

Very true but at times i still ride. And when i do its the best form of transport.

Unless telaporters i think they will be around Wink

Gold will certainly be around (especially the ladies love it). Will it represent purchasing power remotely comparable to today is a completely different question. I do agree it's a nice hedge against crypto failing. Working my ass of is the only true hedge I have and I would prefer not to.

jojo69
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December 03, 2013, 04:10:53 PM
 #7015

If someone would take the effort to call the worldwide silver bluff, he will not take fiat.

And who is this "someone"? You?

Can't you see it's close to "buy all the bitcoins". It ain't gonna happen. Forty years ago the multi-billionaire Hunts had a go (back when a billion really was a billion). They had their butts handed back. For the last decades every anarchy-conspiracist who's read Ted Butler thinks they've found "the squeeze". You seem to have made a good living buying and selling the stuff - don't do your own gear.

excuse me, the system saw the threat of the Hunts unmasking their charade and changed the rules mid battle


This is not some pseudoeconomic post-modern Libertarian cult, it's an un-led, crowd-sourced mega startup organized around mutual self-interest where problems, whether of the theoretical or purely practical variety, are treated as temporary and, ultimately, solvable.
Censorship of e-gold was easy. Censorship of Bitcoin will be… entertaining.
Grafzep
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December 03, 2013, 04:39:30 PM
 #7016

If someone would take the effort to call the worldwide silver bluff, he will not take fiat.

And who is this "someone"? You?

Can't you see it's close to "buy all the bitcoins". It ain't gonna happen. Forty years ago the multi-billionaire Hunts had a go (back when a billion really was a billion). They had their butts handed back. For the last decades every anarchy-conspiracist who's read Ted Butler thinks they've found "the squeeze". You seem to have made a good living buying and selling the stuff - don't do your own gear.

excuse me, the system saw the threat of the Hunts unmasking their charade and changed the rules mid battle



Yup, that is the system
jojo69
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December 03, 2013, 04:41:29 PM
 #7017

fair enough

This is not some pseudoeconomic post-modern Libertarian cult, it's an un-led, crowd-sourced mega startup organized around mutual self-interest where problems, whether of the theoretical or purely practical variety, are treated as temporary and, ultimately, solvable.
Censorship of e-gold was easy. Censorship of Bitcoin will be… entertaining.
rpietila
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December 03, 2013, 07:54:46 PM
 #7018

If someone would take the effort to call the worldwide silver bluff, he will not take fiat.
Can't you see it's close to "buy all the bitcoins".

No, silly. We are talking about short covering here. Sometimes it does no good but to repeat:

If someone would take the effort to call the worldwide silver bluff, he will not take fiat.

Grafzep
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December 03, 2013, 09:33:09 PM
 #7019

If someone would take the effort to call the worldwide silver bluff, he will not take fiat.
Can't you see it's close to "buy all the bitcoins".

No, silly. We are talking about short covering here. Sometimes it does no good but to repeat:

If someone would take the effort to call the worldwide silver bluff, he will not take fiat.

Well, that's like, just your opinion, man. And it isn't made stronger by repeating it or underlining it.

All I'm saying is that this silver shortage idea is, far from being a radical insight, in fact the internet-based speculating convention that has been preached at least since the days of the kitco forum mentioned above. I believed it myself at one point, but after several years changed my mind and sold. As it has been wrong for the best part of twenty years you should at least consider the possibility that it's still wrong, very possibly going to stay wrong, and causing you at least opportunity cost.

I happen to think this idea was a master stroke by those wishing to keep an essentially dying commodity market going with fresh money. The buying and selling involved has served dealers well, but they do themselves no favours when they break the cardinal rule of dealing and start believing.

However, it is these differences that make a market and I wish you luck.
rpietila
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December 03, 2013, 09:44:46 PM
 #7020

I forgot that I know what I am talking about, but you don't know that I know. I am too busy to explain anything concerning silver, but dig my old posts if you want to learn.

Smiley

Edit: Smiley added just for the reason to not sound patronizing. It is a fascinating concept how to make the short squeeze but I don't want to talk about it in public nor with people who don't have the btc to buy up all the silver.

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