solex
Legendary
Offline
Activity: 1078
Merit: 1006
100 satoshis -> ISO code
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October 31, 2014, 06:59:58 AM |
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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-showdownI 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/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.
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smooth
Legendary
Offline
Activity: 2968
Merit: 1198
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October 31, 2014, 07:22:20 AM |
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I've been seeing discussion in a number of places how BTC has been highly correlated with gold. True or not, the idea is gaining some currency.
Does the premise of this thread no longer hold? Will it return?
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marcus_of_augustus
Legendary
Offline
Activity: 3920
Merit: 2349
Eadem mutata resurgo
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October 31, 2014, 07:36:15 AM |
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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-showdownI 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/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
Legendary
Offline
Activity: 2016
Merit: 1259
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October 31, 2014, 08:40:11 AM |
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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
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marcus_of_augustus
Legendary
Offline
Activity: 3920
Merit: 2349
Eadem mutata resurgo
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October 31, 2014, 09:09:59 AM |
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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 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.
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BlindMayorBitcorn
Legendary
Offline
Activity: 1260
Merit: 1116
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October 31, 2014, 09:58:47 AM |
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Gold cracked 1180. This is big!
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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.
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Wekkel
Legendary
Offline
Activity: 3108
Merit: 1531
yes
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October 31, 2014, 10:16:13 AM |
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Gold cracked 1180. This is big!
It means nothing if you stop measuring gold in USD. There is no final line in the sand.
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cypherdoc (OP)
Legendary
Offline
Activity: 1764
Merit: 1002
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October 31, 2014, 10:59:03 AM |
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Gold collapsing. Bitcoin being assaulted by SC"s.
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Thomas-s
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October 31, 2014, 11:05:09 AM |
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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.
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,gaaaaaaaagaaaaaaaaaaaaagaaaaaaaag, ,aP8b _,dYba, ,adPb,_ d8Ya, ,aP" Yb_,dP" "Yba, ,adP" "Yb,_dP "Ya, ,aP" _88" )888( "88_ "Ya, ,aP" _,dP"Yb ,adP"8"Yba, dP"Yb,_ "Ya, ,aPYb _,dP8 Yb ,adP" 8 "Yba, dP 8Yb,_ dPYa, ,aP" YdP" dP YbdP" 8 "YbdP Yb "YbP "Ya, I8aaaaaa8aaa8baaaaaa88aaaaaaaa8aaaaaaaa88aaaaaad8aaa8aaaaaa8I `Yb, d8a, Ya d8b, 8 ,d8b aP ,a8b ,dP' "Yb,dP "Ya "8, dI "Yb, 8 ,dP" Ib ,8" aP" Yb,dP" "Y8, "YaI8, ,8' "Yb, 8 ,dP" `8, ,8IaP" ,8P" "Yb, `"Y8ad' "Yb,8,dP" `ba8P"' ,dP" "Yb, `"8, "Y8P" ,8"' ,dP" "Yb, `8, 8 ,8' ,dP" "Yb, `Ya 8 aP' ,dP" "Yb, "8, 8 ,8" ,dP" "Yb, `8, 8 ,8' ,dP" "Yb, `Ya 8 aP' ,dP" "Yb, "8, 8 ,8" ,dP" "Yb,`8, 8 ,8',dP" "Yb,Ya8aP,dP" "Y88888P" "Y8P" " | | Free TON
| │ │ │
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| | TELEGRAM FORUM WIKI |
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devphp
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October 31, 2014, 11:06:19 AM |
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Smells like the infamous "blood-in-the-street" time begins.
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DeadCoin
Sr. Member
Offline
Activity: 1246
Merit: 261
★ Investor | Trader | Promoter
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October 31, 2014, 11:10:54 AM |
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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.
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cypherdoc (OP)
Legendary
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Activity: 1764
Merit: 1002
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October 31, 2014, 11:12:05 AM |
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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.
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cbeast
Donator
Legendary
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Activity: 1736
Merit: 1014
Let's talk governance, lipstick, and pigs.
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October 31, 2014, 11:13:49 AM |
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If there's blood, then the sharks will be coming. Wall Street pressure to approve the ETF, perhaps?
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Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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NotLambchop
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October 31, 2014, 11:17:16 AM |
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... techno communists.
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wachtwoord
Legendary
Offline
Activity: 2338
Merit: 1136
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October 31, 2014, 11:20:57 AM |
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... techno communists.
Yeah the term is really funny
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cypherdoc (OP)
Legendary
Offline
Activity: 1764
Merit: 1002
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October 31, 2014, 11:23:16 AM |
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... techno communists.
Yeah the term is really funny I can't take credit for it. Got it from JR. Although quite appropriate. And for once, i like the picture Lamb chop!
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justusranvier
Legendary
Offline
Activity: 1400
Merit: 1013
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October 31, 2014, 01:54:54 PM |
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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-showdownI 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/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?
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cypherdoc (OP)
Legendary
Offline
Activity: 1764
Merit: 1002
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October 31, 2014, 03:21:42 PM |
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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!:
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conspirosphere.tk
Legendary
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Activity: 2352
Merit: 1064
Bitcoin is antisemitic
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October 31, 2014, 03:25:58 PM |
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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.
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cypherdoc (OP)
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Activity: 1764
Merit: 1002
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October 31, 2014, 03:26:15 PM |
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