Spaceman_Spiff
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October 19, 2013, 07:45:00 PM |
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Do you happen to have the link to the James Rickards interview? yep: http://www.youtube.com/watch?v=fVOmVbHtz1kand it's really good, too. I'll definitely read his upcoming book. If you haven't read "currency wars", it's probably good to read it beforehand in case you plan to read the new one. oh and he has a message for us at the end: The governments watching everything you do. So, if you're in bitcoin,... enjoy it, but don't kid yourself and think the government's not watching.
Thanks !
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molecular
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October 19, 2013, 09:12:50 PM |
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thanks for that link, since it transcribes many of the important parts of the interview (too bad they didn't include "Bitcoin") funny how "will" got edited to "could" later in the title, btw .
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wachtwoord
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October 19, 2013, 10:46:49 PM |
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thanks for that link, since it transcribes many of the important parts of the interview (too bad they didn't include "Bitcoin") funny how "will" got edited to "could" later in the title, btw . Everything that will happen, can happen, otherwise it won't Anyway: Yay to a gold standard. Bitcoin is superior, but still gold is a lot better than vacuum and a vast amount of nothingness.
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NewLiberty
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Gresham's Lawyer
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October 19, 2013, 10:53:50 PM |
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thanks for that link, since it transcribes many of the important parts of the interview (too bad they didn't include "Bitcoin") funny how "will" got edited to "could" later in the title, btw . Extra credit for you. That's why I linked it without comment. "GOLDSILVERWORLDS" edits out the bitcoin pieces The full transcript is of course here: http://futuremoneytrends.com/blog/?p=10062There is this bidirectional ignorance (each ignoring the other) to some degree, their advocates poke at each other. My personal quest is to bring together the hard money people and the bitcoin people and unify the efforts. To create allys. Being that I have a special connection to both, based on some very personal experiences, it is something that pulls on me as almost a duty. Rickards' criticism is very much on point though. Pseudonymity is not anonymity. He gives no greater criticism of it, which is itself telling, I'm working on roping him in yet further.
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oakpacific
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October 20, 2013, 12:54:55 AM |
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... oh and he has a message for us at the end: The governments watching everything you do. So, if you're in bitcoin,... enjoy it, but don't kid yourself and think the government's not watching.
I'd trust Rickards on this one. He's likely in a good position to know. I've assumed this from (my personal) zero-day in Bitcoin-land. For this reason, I plan to cross all my 'i's and cross all my 't's in any interactions. Indeed, I am now only willing to do formal paper transactions for values in excess of $10,00.00 so I cannot be (falsely) charged with 'structuring' if the powers that be decide to bring the hammer down. I bet that a lot of people who came out on top in Bitcoin speculation are going to throw away a good thing by trying to avoid the Feds and their maddeningly unfair but very real implementations of capital control. In some senses, that's why need people like the Silk Road guys, though I personally do not endorse drug trading. We are all too timid to test the robustness of our system, it's these people who actually went to the front-line, attracted some gunfire, making some real world experimental data available to us.
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cypherdoc (OP)
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October 20, 2013, 01:32:40 AM |
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Congrats cypherdoc, 300 pages is quite impressive trying to make a point
it's actually about 370 pages at this point. don't forget most of my efforts/posts making this point were made starting here 8/9/11 right before the peak: Gold: I Smell A Trap
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molecular
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October 20, 2013, 11:01:18 AM |
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Hudes says something about 140,000 tons of gold in vaults on Hawaii. Any merit to this? She also says in the comments to this video: Up to this point I estimated there to be around 160,000 tons of gold above ground and I think that's along the lines of other estimates. If this turns out true, it'll be "Gold collapsing, Bitcoin UP" for real.
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PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0 3F39 FC49 2362 F9B7 0769
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oakpacific
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October 20, 2013, 11:55:36 AM |
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Hudes says something about 140,000 tons of gold in vaults on Hawaii. Any merit to this? She also says in the comments to this video: Up to this point I estimated there to be around 160,000 tons of gold above ground and I think that's along the lines of other estimates. If this turns out true, it'll be "Gold collapsing, Bitcoin UP" for real. If it were true, FEDs would not have bought some hundreds of tons of gold right before its price topped.
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cypherdoc (OP)
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October 20, 2013, 12:17:17 PM |
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Hudes says something about 140,000 tons of gold in vaults on Hawaii. Any merit to this? She also says in the comments to this video: Up to this point I estimated there to be around 160,000 tons of gold above ground and I think that's along the lines of other estimates. If this turns out true, it'll be "Gold collapsing, Bitcoin UP" for real. If it were true, FEDs would not have bought some hundreds of tons of gold right before its price topped. So you believe that the FED is better than the Bank of England and Gordon Brown at timing these things?
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NewLiberty
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Gresham's Lawyer
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October 20, 2013, 12:42:25 PM |
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So you believe that the FED is better than the Bank of England and Gordon Brown at timing these things?
The FED has socialized is risk. They don't need to be good at anything. They get the benefit when they are right and taxpayer covers if they are wrong.
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oakpacific
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October 20, 2013, 01:17:04 PM |
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Hudes says something about 140,000 tons of gold in vaults on Hawaii. Any merit to this? She also says in the comments to this video: Up to this point I estimated there to be around 160,000 tons of gold above ground and I think that's along the lines of other estimates. If this turns out true, it'll be "Gold collapsing, Bitcoin UP" for real. If it were true, FEDs would not have bought some hundreds of tons of gold right before its price topped. So you believe that the FED is better than the Bank of England and Gordon Brown at timing these things? Nah, just: 1.They have no such huge gold reserve, otherwise why bother buying it. 2.When you want to diversify from your fiats, PM is not a good option, central bankers still hold much more of them than you, and they know what they should do to keep their jobs(promoting fiats) if PM price skyrockets. But to be honest I don't know what's with BoE and Gordon Brown.
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rpietila
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October 20, 2013, 02:13:15 PM |
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Up to this point I estimated there to be around 160,000 tons of gold above ground and I think that's along the lines of other estimates.
Karen says that there is at least 500,000 tons of gold, all conventional figures say about 160,000 tons. The latter figure is imho rather well researched from the mining output in 20th century - before which only a fraction of the total gold existing was produced. Do you have some credible theory, how the gold aboveground could be so much higher figure?
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HIM TVA Dragon, AOK-GM, Emperor of the Earth, Creator of the World, King of Crypto Kingdom, Lord of Malla, AOD-GEN, SA-GEN5, Ministry of Plenty (Join NOW!), Professor of Economics and Theology, Ph.D, AM, Chairman, Treasurer, Founder, CEO, 3*MG-2, 82*OHK, NKP, WTF, FFF, etc(x3)
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rpietila
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October 20, 2013, 02:56:25 PM |
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Up to this point I estimated there to be around 160,000 tons of gold above ground and I think that's along the lines of other estimates.
Karen says that there is at least 500,000 tons of gold, all conventional figures say about 160,000 tons. The latter figure is imho rather well researched from the mining output in 20th century - before which only a fraction of the total gold existing was produced. Do you have some credible theory, how the gold aboveground could be so much higher figure? Fussion? lol i read some nazifiction book where the nazis had retreated to antarctica and spent their time extracting gold from seawater
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HIM TVA Dragon, AOK-GM, Emperor of the Earth, Creator of the World, King of Crypto Kingdom, Lord of Malla, AOD-GEN, SA-GEN5, Ministry of Plenty (Join NOW!), Professor of Economics and Theology, Ph.D, AM, Chairman, Treasurer, Founder, CEO, 3*MG-2, 82*OHK, NKP, WTF, FFF, etc(x3)
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molecular
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October 20, 2013, 04:02:31 PM |
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Up to this point I estimated there to be around 160,000 tons of gold above ground and I think that's along the lines of other estimates.
Karen says that there is at least 500,000 tons of gold, all conventional figures say about 160,000 tons. The latter figure is imho rather well researched from the mining output in 20th century - before which only a fraction of the total gold existing was produced. Do you have some credible theory, how the gold aboveground could be so much higher figure? No, I have no credible theory on this. I don't know where Hudes got this, I haven't seen her back up the claims with anything but "you will see". How do we know only a fraction of gold was mined before the 20th century? All kinds of cultures had been obsessed with gold and/or used it as money long before that. Maybe a lot was mined (easily accessible?) and somehow gathered up and stored. But that's a wild theory. Boy am I glad bitcoin doesn't have such problems.
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PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0 3F39 FC49 2362 F9B7 0769
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BitcoinAshley
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October 20, 2013, 04:15:57 PM |
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Does Karen Hudes ever explain why she feels there are 500,000 tons rather than the conventionally-reported 160,000? I'm all for believing that conventional figures are faked or made up, because they are in a very large number of cases, but I need some actual evidence.
She "says" that these vaults in Hawaii, Singapore, etc have X tons of gold each, and added together it is about 500,000. But how does she arrive at those vault figures in the first place.....
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rpietila
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October 20, 2013, 05:06:29 PM |
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How do we know only a fraction of gold was mined before the 20th century? All kinds of cultures had been obsessed with gold and/or used it as money long before that. Maybe a lot was mined (easily accessible?) and somehow gathered up and stored. But that's a wild theory.
Does not hold water. Deduction: - 20th century has seen more people-lifeyears than all the previous history combined - The material living standard has been higher also - Gold's purchasing power has been constant or decreasing - 20th century production figures are quite well documented.
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HIM TVA Dragon, AOK-GM, Emperor of the Earth, Creator of the World, King of Crypto Kingdom, Lord of Malla, AOD-GEN, SA-GEN5, Ministry of Plenty (Join NOW!), Professor of Economics and Theology, Ph.D, AM, Chairman, Treasurer, Founder, CEO, 3*MG-2, 82*OHK, NKP, WTF, FFF, etc(x3)
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cypherdoc (OP)
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October 20, 2013, 07:08:08 PM |
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it doesn't matter who's right. the point is, production and stock is fuzzy; and it always will be. which is precisely why i switched to BTC investment back in early 2011. Bitcoin is easily trackable according to the protocol by anyone. it's brutally defined. and time is proving it's uncrackable. just one of the many reasons i've been arguing to switch publicly since Gold: I Smell A Trap.
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miscreanity
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October 20, 2013, 07:18:54 PM |
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it doesn't matter who's right.
Yup. I still say it's impractical and borderline reckless to switch to crypto fully, though. It's simple enough to straddle traditional and crypto, rebalancing as per fiat risk tolerance.
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wachtwoord
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October 20, 2013, 07:21:43 PM |
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it doesn't matter who's right.
Yup. I still say it's impractical and borderline reckless to switch to crypto fully, though. It's simple enough to straddle traditional and crypto, rebalancing as per fiat risk tolerance. If you hold Bitcoin I don't really see the need to hold PMs as well. However, a healthy collection of nice stocks never hurt anyone
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