Currency Wars - the defining crisis of our time?

[red-jet]

I'm no expert, but i'm not a lay person either.

There have been some really concerning reports about the re-patriot of gold in the last 6-12 months.

Germany wants 674 tonnes back by 2020 - stating that like, Iran, Libya and Venezuela. They wish to hold their own reserves.

S**t - well things didn't work out great for Iran, Libya and Venezuela when they wanted it back! Although Merkel seems to have, at least publically, calmed her jets on this rather large order from the US.

She still wants Frances 374 tons though! Not to upset my German friends (lovely people- for the most part) and I know it's a 'New Germany'. But the country still took over Europe twice in a century - That's living memory. Hasten to add that they basically run the EU now - although UK rumblings and anti-eu rumblings are garnering support

Lot of 'stories' abound that China wound up with billions and billions of Tungsten bars with a wee taste of spray paint when it asked. I find this rather hard to swallow -  as you would a 400oz tungsten bar. The Chinese certainly are no fools, and when it comes to fakes...

So wtf is happening?

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[Q7]

Not sure what you are trying to say but my guess is to summarize it countries are again increasing their gold holdings and other precious metals. So how does that relate to bitcoin? Good or bad?

[jonald_fyookball]

it's good because paper fiat money is perceived as less valuable.

[Beliathon]

it's good because paper fiat money is perceived as less valuable.

It's because the smartest people in the rooms at those meetings smell blood in the water for all fiat currencies...

They are just now realizing that any nation left holding the fiat (false money) bag is going to be fucked, and now they know why the U.S. is unwilling to part with its gold.

This is the "concerned" phase... it won't be long until most nations enter the "panic" phase, and that's when things could get violent.

[zimmah]

theoretically good for bitcoin, as bitcoin is more like gold than it is like fiat.

However, I have the feeling this will not be a very peaceful crisis.

[red-jet]

Cheers for the replies,

I honestly have no idea how this 'will' play out - I have theories, though not a lot of time to indulge in them.

The petrodollar - like all fiat currencies beforew it will collapse - but at what cost?

To your standard of living?

To the 100,000's unlucky to have resources?

Russia and China have a very co-operative arrangement - They will soon (if not already, take gas from Russia in RMB and Oil from Iran in RMB)

Have you ever - as a westerner - tried to load an Alipay account? That shit's bigger than eBay and amazon combined - but all the online wallets are Russian or direct transfers are Chinese owned banks.  I SHALL CRACK IT YET!

BTC, it's such a minute fraction of global GDP. I really don't see it working - ie going mainstream - I know it works.

It's just that reputation is everything in this game.

To the layperson on the street, if they have even heard of of BTC/Alt coins, educated guess 80% have not. Of that 80% - at least 70% is view them in an extremely negative light. Drugs, weapons, exploitation hacking, etc,etc.

Alt coins really need a complete multi-million $ re-brand (and I'm here to do it - just donate .... jk btw ) to penetrate 8% usage. Marketing graph I seen years ago demonstrated that at 8% really interesting things happen at an exponential rate.

I reckon a one world currency is 50x more likely than mass up take of crypto.

Keeps USA/EU in the game, brings China into the game, recognises that Russian is still one big f**king country, with a serious stack really technologically advanced weaponry and massive reserves.

I should top thinking about shit I've no idea about - be more like a dog with it's head out the window at 70mph! 'I don't get it, I don't care, f**k I love tho!'

Have a good one

 

[orsotheysaid]

Of course there is a currency wars, USD is fighting against CNY daily. EUR and USD are trying to not sink within this war. USD is still number as they can generate money out of thinair and this money will keep getting accepted and used worldwide.

Cryptos don't have a say on this unless people want to.

[red-jet]

The only reason the US, or rather the privately owned federal reserve can print money out of thin air is thanks to OPEC and the Saudi's (among others of course) unlimited credit card.

You need $ to buy oil. Nixon pulled the gold standard, horrible c**t - but he wasn't stupid. He pulled the gold standard and replaced it with the 'petro' standard.

Merica NEED's a war economy to survive - In concession for OPEC to trade all of their oil in $ - they got 'protection' Mafiso style. Hence muscle flexing in Vietnam far far longer than necessary. And keeping some of the most disgusting dictatorship regimes armed to the teeth.

Dollar's fly in from around the world, dollar's fly out across the world, make 2% on the way in 2% on the way out. Beautiful. Because the one thing more addictive than crack - is oil.

The late 70's, 80 boom year's - 'yuppie' traders this was amazing. The .com bubble burst, people got burnt - but as long as the main event was in full swing - the petro dollar - recession without recovery was inevitable.

Perhaps - maybe naive - double digit growth in emerging economies wasn't fully expected. Neither was the capacity for reverse engineering - from cell phones to fighter jets. A RUS/CHN collation, despite the untold trillions pumped into the US defence budget, begins to make Washington nervous - more muscle flexing. Iraq x 2, Lybia, however Syria is a different situation as are ISSS. Despite calls for the Qataries and Saudies to tackle the problem on their own door step - with state of the art US hardware. Nothing goes up in the air. Curious. It might be worth remembering that despite the cosy 70's/80's90's OPEC relationship - These guys still regard the West as the 'Great Satan' - maybe we are lol.

Because thanks to Tiny Rowland and his stripping of Africa's depleted uranium when one shell hits a depleted uranium armored vehicle and dissipates into uranium dust up to 100km2 becomes uninhabitable for a million odd years - but sure the Queen of England made a sweet £800m outta it...

[shawshankinmate37927]

So wtf is happening?

Thanks to Satoshi, society can now have a separation of money and state.  In the future, the monetary policies of politicians and bankers will be meaningless, as more people abandon fiat.

[onlyu]

The only reason the US, or rather the privately owned federal reserve can print money out of thin air is thanks to OPEC and the Saudi's (among others of course) unlimited credit card.

You need $ to buy oil. Nixon pulled the gold standard, horrible c**t - but he wasn't stupid. He pulled the gold standard and replaced it with the 'petro' standard.

Merica NEED's a war economy to survive - In concession for OPEC to trade all of their oil in $ - they got 'protection' Mafiso style. Hence muscle flexing in Vietnam far far longer than necessary. And keeping some of the most disgusting dictatorship regimes armed to the teeth.

Dollar's fly in from around the world, dollar's fly out across the world, make 2% on the way in 2% on the way out. Beautiful. Because the one thing more addictive than crack - is oil.

The late 70's, 80 boom year's - 'yuppie' traders this was amazing. The .com bubble burst, people got burnt - but as long as the main event was in full swing - the petro dollar - recession without recovery was inevitable.

Perhaps - maybe naive - double digit growth in emerging economies wasn't fully expected. Neither was the capacity for reverse engineering - from cell phones to fighter jets. A RUS/CHN collation, despite the untold trillions pumped into the US defence budget, begins to make Washington nervous - more muscle flexing. Iraq x 2, Lybia, however Syria is a different situation as are ISSS. Despite calls for the Qataries and Saudies to tackle the problem on their own door step - with state of the art US hardware. Nothing goes up in the air. Curious. It might be worth remembering that despite the cosy 70's/80's90's OPEC relationship - These guys still regard the West as the 'Great Satan' - maybe we are lol.

Because thanks to Tiny Rowland and his stripping of Africa's depleted uranium when one shell hits a depleted uranium armored vehicle and dissipates into uranium dust up to 100km2 becomes uninhabitable for a million odd years - but sure the Queen of England made a sweet £800m outta it...

Oil in OPEC and Saudi will run dry one day. And the cost of keeping middle east in check will eventually outweighs the benefit of petro dollar standard as it is a lot cheaper for Russia, Eurupe and China to gain more influence in that region.

[zetaray]

Currency wars is not only battled on the gold front. Asian central banks are manipulating their exchange rates to boost export, transferring their unemployment to other countries

[trader001]

Currency wars is not only battled on the gold front. Asian central banks are manipulating their exchange rates to boost export, transferring their unemployment to other countries

Unemployment is fine if all the unemployed are well fed and entertained.

Which is not the case in the US or Europe.

[Miz4r]

The IMF is going to use this currency crisis to push their SDR's as the one new global currency that will finally bring 'stability'. I hope enough people will be smart enough not to trust the IMF and these SDR's, and choose Bitcoin instead, or even gold or silver are better or anything else that isn't controlled by one huge undemocratic central authority.

[hua_hui]

Current different currencies are fighting to be the leading currency for clearing and settlement in international trade. Dollar is seen as reserve currency, next may be RMB, or other strong currency come out. They are taking in turn. At this process, bitcoin will have shown its advantages comparing to these centralized fiats and have a position globally.

[btcmulisha]

Currency wars is not only battled on the gold front. Asian central banks are manipulating their exchange rates to boost export, transferring their unemployment to other countries

Oh really? How can you back that up? Asian central banks? Like what asian banks is that?

[pattu1]

Current different currencies are fighting to be the leading currency for clearing and settlement in international trade. Dollar is seen as reserve currency, next may be RMB, or other strong currency come out. They are taking in turn. At this process, bitcoin will have shown its advantages comparing to these centralized fiats and have a position globally.

The next reserve currency has to be freely convertible, be backed by a large economy and have a responsible central bank (to control the money supply).
Bitcoin is a ripe candidate.

[BootstrapCoinDev]

Everything has become centralized., Be it the FED, the too big to fail banks that make up the FED, NSA, Social Security, Medicare, etc., all depend on the central government, who in turn needs ever more tax revenue to keep the debt scheme from imploding. Implode it will, that I know. But when? I for one would like to see it implode. We need a revolution in social innovations that starts with social credits that is enabled by technology. What we need is a new system that is better, more humane, is transparent, that creates opportunities etc.