I have sat out the cryptocurrency mania. I wish I had jumped on it back in the day! I was so sure PM's would soon be in the drivers seat back then.
Here is a new twist: GOLD backed crypto. From the Chinese no less! Gold backed cyrpto seems like an oxymoron to me. Does anyone know about this and care to share info?
https://www.kitco.com/news/video/show/K ... Kitco-NEWS
Chinese gold backed cyrtocurrancy to destroy FRN??
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Chinese gold backed cyrtocurrancy to destroy FRN??
by Sheikh_yer_Bu'Tay » Fri Nov 29, 2019 3:48 am
When I die, I want to go like Grandpa did. He died in his sleep..... Not screaming and hollering like all the passengers in his car.
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Sheikh_yer_Bu'Tay - Super Post Hoarder
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Re: Chinese gold backed cyrtocurrancy to destroy FRN??
by 68Camaro » Fri Nov 29, 2019 10:24 am
Welcome back (haven't seen you in awhile?). I can always regret missing the big riser but if I chased every one I would be penniless before I ever hit a big one.
In the game of Woke, the goal posts can be moved at any moment, the penalties will apply retroactively and claims of fairness will always lose out to the perpetual right to claim offense.... Bret Stephens
The further a society drifts from the truth, the more it will hate those that speak it. George Orwell.
We can ignore reality, but we cannot ignore the consequences of ignoring reality. Ayn Rand.
The further a society drifts from the truth, the more it will hate those that speak it. George Orwell.
We can ignore reality, but we cannot ignore the consequences of ignoring reality. Ayn Rand.
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68Camaro - Too Busy Posting to Hoard Anything Else
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Re: Chinese gold backed cyrtocurrancy to destroy FRN??
by Cu Penny Hoarder » Fri Nov 29, 2019 4:40 pm
It is an oxymoron. I stay far away from anything crypto... no matter what silly story they give you. Nothing but digital vaporware.
FOMO can really screw with people's heads. Makes them do very dumb/risky things... like buying near or at the top of a mania.
Silver is the next big thing. It will have the largest % gain compared to anything else out there. I have NO doubts about it. BUT, you have to have p-a-t-i-e-n-c-e. Get all you can now while it is still dirt CHEAP. You will be very happy someday.
FOMO can really screw with people's heads. Makes them do very dumb/risky things... like buying near or at the top of a mania.
Silver is the next big thing. It will have the largest % gain compared to anything else out there. I have NO doubts about it. BUT, you have to have p-a-t-i-e-n-c-e. Get all you can now while it is still dirt CHEAP. You will be very happy someday.
Time is precious, stop wasting it.
- Cu Penny Hoarder
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Re: Chinese gold backed cyrtocurrancy to destroy FRN??
by Sheikh_yer_Bu'Tay » Fri Nov 29, 2019 7:38 pm
68Camaro wrote:Welcome back (haven't seen you in awhile?). I can always regret missing the big riser but if I chased every one I would be penniless before I ever hit a big one.
Thanks 68! Yeah, I know. It is just everyone I know that got in early.... years ago now are pretty darn well off.
Zero Hedge quoted Putin about three weeks ago. He was predicting the fall of US Dollar hegemony happening "soon". I can't help but wonder if the two events are connected.
When I die, I want to go like Grandpa did. He died in his sleep..... Not screaming and hollering like all the passengers in his car.
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Sheikh_yer_Bu'Tay - Super Post Hoarder
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Re: Chinese gold backed cyrtocurrancy to destroy FRN??
by Sheikh_yer_Bu'Tay » Fri Nov 29, 2019 7:41 pm
Cu Penny Hoarder wrote:It is an oxymoron. I stay far away from anything crypto... no matter what silly story they give you. Nothing but digital vaporware.
FOMO can really screw with people's heads. Makes them do very dumb/risky things... like buying near or at the top of a mania.
Silver is the next big thing. It will have the largest % gain compared to anything else out there. I have NO doubts about it. BUT, you have to have p-a-t-i-e-n-c-e. Get all you can now while it is still dirt CHEAP. You will be very happy someday.
Yeah man. I am into silver alright. It has been said silver is gold's little brother. Gold's schizophrenic little brother!
When I die, I want to go like Grandpa did. He died in his sleep..... Not screaming and hollering like all the passengers in his car.
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Sheikh_yer_Bu'Tay - Super Post Hoarder
- Posts: 3111
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Re: Chinese gold backed cyrtocurrancy to destroy FRN??
by InfleXion » Sun Dec 01, 2019 4:46 pm
China has enough gold to break the USD with a gold backed currency if they want to. In my opinion --
The cryptocurrency that will replace the USD will be run by the US government / Federal Reserve system only after the USD is out of favor, and for that to happen, other than TPTB straight up throwing in the towel, the outsourced currency has to come home, the oil market has to get away from the petrodollar which is in progress with bilateral agreements although military might enforces that to some extent, and precious metals have to go high enough in price to become a more attractive currency. I have to think the elite are salivating over the eventual prospect of a fully tracked government controlled digital currency, but things like monetary cycles and the perceptions of the masses take time. It seems to me more so a positioning game for the inevitable rather than a coersion to usher it in. I've long eyed 2021 as the year that the precious metal market must choose a direction due to opposing trends converging, and with gold becoming a tier 1 asset soon along with a new presidential cycle, it feels like the winds of change are on the horizon. I first became aware of BTC in 2009, but would never put my money into a system I view as setting the stage for a brave new world.
The cryptocurrency that will replace the USD will be run by the US government / Federal Reserve system only after the USD is out of favor, and for that to happen, other than TPTB straight up throwing in the towel, the outsourced currency has to come home, the oil market has to get away from the petrodollar which is in progress with bilateral agreements although military might enforces that to some extent, and precious metals have to go high enough in price to become a more attractive currency. I have to think the elite are salivating over the eventual prospect of a fully tracked government controlled digital currency, but things like monetary cycles and the perceptions of the masses take time. It seems to me more so a positioning game for the inevitable rather than a coersion to usher it in. I've long eyed 2021 as the year that the precious metal market must choose a direction due to opposing trends converging, and with gold becoming a tier 1 asset soon along with a new presidential cycle, it feels like the winds of change are on the horizon. I first became aware of BTC in 2009, but would never put my money into a system I view as setting the stage for a brave new world.
Silver: the Rodney Dangerfield of precious metals.
If it's printed on a piece of paper it's worth the paper it's printed on.
If it's a digital asset it's worth the electrons in cyberspace.
If it's printed on a piece of paper it's worth the paper it's printed on.
If it's a digital asset it's worth the electrons in cyberspace.
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