Chinese gold backed cyrtocurrancy to destroy FRN??
Posted:
Fri Nov 29, 2019 3:48 amby Sheikh_yer_Bu'Tay
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
Re: Chinese gold backed cyrtocurrancy to destroy FRN??
Posted:
Fri Nov 29, 2019 10:24 amby 68Camaro
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.
Re: Chinese gold backed cyrtocurrancy to destroy FRN??
Posted:
Fri Nov 29, 2019 4:40 pmby Cu Penny Hoarder
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.
Re: Chinese gold backed cyrtocurrancy to destroy FRN??
Posted:
Fri Nov 29, 2019 7:38 pmby Sheikh_yer_Bu'Tay
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.
Re: Chinese gold backed cyrtocurrancy to destroy FRN??
Posted:
Fri Nov 29, 2019 7:41 pmby Sheikh_yer_Bu'Tay
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!
Re: Chinese gold backed cyrtocurrancy to destroy FRN??
Posted:
Sun Dec 01, 2019 4:46 pmby InfleXion
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.