BRICS countries consider moving back to Gold Standard

US going for their own?

HR 5404 - To define the dollar as a fixed weight of gold.

https://www.congress.gov/bill/115th-congress/house-bill/5404

Still has a long way to go, but it's there.

Also, Petro Yuan just started. Convertible into Gold.

Gold at $1,325/ounce today


That bill was introduced by someone with 0 power in congress. See: https://en.wikipedia.org/wiki/Alex_Mooney that bill is D.O.A.

Yahoo's like him introduce shit all the time to play to the crowd, "we don't have any jobs in maaa district because we went off the gold standard back in blah blah blah" It's not a fucking solution to their problem, just a red herring. PERIOD.

See his "editorial?" : https://www.wsj.com/articles/steel-and-aluminum-lets-talk-about-gold-1522005011 (copy pasta the link into google to get around their stupid paywall) SIDENOTE: The WSJ is a fucking shell of its' former self, it's completely jumped the shark and is not even close to real journalism anymore, but that's another story....

If you really think gold is going up into the stratosphere you also believe DEFACTO in the current system failing. In that scenario, fuck gold, I'm buying rifles ammo and food and getting the fuck out of Dodge because the only thing that'll matter will be survival.

Have a small amount of gold, whatever, but don't ride that shit like it's going to make you rich. Everyone hears these fairytales about gold and the good old days and how it's a road to riches and how FIAT is a scam. It is a scam, a scam, in terms of the USD, backed by the greatest military fighting force and blue water Navy that the world has seen in it's history.

Most things are just an idea, a lie? even? that we commonly put our faith in. WTF is money it's a strange concept really, all I know is that I'd much rather be on the side of the person holding all the guns in the room. Makes life easier.
 
That bill was introduced by someone with 0 power in congress. See: https://en.wikipedia.org/wiki/Alex_Mooney that bill is D.O.A.

Yahoo's like him introduce shit all the time to play to the crowd, "we don't have any jobs in maaa district because we went off the gold standard back in blah blah blah" It's not a fucking solution to their problem, just a red herring. PERIOD.

See his "editorial?" : https://www.wsj.com/articles/steel-and-aluminum-lets-talk-about-gold-1522005011 (copy pasta the link into google to get around their stupid paywall) SIDENOTE: The WSJ is a fucking shell of its' former self, it's completely jumped the shark and is not even close to real journalism anymore, but that's another story....

If you really think gold is going up into the stratosphere you also believe DEFACTO in the current system failing. In that scenario, fuck gold, I'm buying rifles ammo and food and getting the fuck out of Dodge because the only thing that'll matter will be survival.

Have a small amount of gold, whatever, but don't ride that shit like it's going to make you rich. Everyone hears these fairytales about gold and the good old days and how it's a road to riches and how FIAT is a scam. It is a scam, a scam, in terms of the USD, backed by the greatest military fighting force and blue water Navy that the world has seen in it's history.

Most things are just an idea, a lie? even? that we commonly put our faith in. WTF is money it's a strange concept really, all I know is that I'd much rather be on the side of the person holding all the guns in the room. Makes life easier.

You're not wrong to think that there are other things more essential to life than Gold/Silver. But once those are taken care of, they're worth a look.Think of it more as a tool of wealth preservation than get rich quick. Just to give you an example, a Venezuelan who had an once or two of gold before shit hit the fan is much better off than his neighbor with none. It's not that he got rich, it's that he didn't get poor. Based on trajectory it's not if but when our system will fail. The likelihood is that the system fails "softly" a la 2008, meaning a lot of economic pain but not Mad Max roving gangs.

Couldn't get around the paywall and I know the bill has little chance but here's the fundamental question you have to think about. What made Gold good enough to be used as a medium of exchange for a couple millennia?

My answer to that, right or wrong, is that no one person can create it out of thin air. It keep the system honest. Fiat would work if everyone in control of the mint/printer was honest and intelligent but why leave that door open? When you do it results in politicians promising free shit to everyone, printing the funds now and spending our great grand children into economic slavery.

Satoshi understood this with Bitcoin, that's why it's limited to 21M. Where it fails however is hard forks. You get money from nothing. That and these days anyone and their Doge can create a coin.Again money from nothing. That's why I'm still big on precious metals, reserved on the current state of cryptos.
 
You're not wrong to think that there are other things more essential to life than Gold/Silver. But once those are taken care of, they're worth a look.Think of it more as a tool of wealth preservation than get rich quick. Just to give you an example, a Venezuelan who had an once or two of gold before shit hit the fan is much better off than his neighbor with none. It's not that he got rich, it's that he didn't get poor. Based on trajectory it's not if but when our system will fail. The likelihood is that the system fails "softly" a la 2008, meaning a lot of economic pain but not Mad Max roving gangs.

Couldn't get around the paywall and I know the bill has little chance but here's the fundamental question you have to think about. What made Gold good enough to be used as a medium of exchange for a couple millennia?

My answer to that, right or wrong, is that no one person can create it out of thin air. It keep the system honest. Fiat would work if everyone in control of the mint/printer was honest and intelligent but why leave that door open? When you do it results in politicians promising free shit to everyone, printing the funds now and spending our great grand children into economic slavery.

Satoshi understood this with Bitcoin, that's why it's limited to 21M. Where it fails however is hard forks. You get money from nothing. That and these days anyone and their Doge can create a coin.Again money from nothing. That's why I'm still big on precious metals, reserved on the current state of cryptos.
The miners are mining for this stuff to be rewarded in bitcoin. Eventually when all coins are mined and miners are using smeltering plants worth of electricity to mine one coin, there's no longer a reward left... and then you need to begin to pay these guys to complete transactions... and were back at a banking system which ironically is what the whole point of bitcoin was to avoid... add to that the forking and the fact anyone can create a crypotcurrency when the mood swings makes it worthless. Gold has been around for millenias and it's not going anywhere any time soon and TRULY is limited and accepted across the world as money... it's value has survived through every empire in history whereas the currencies of these empires have eventually become worthless.

Sent from my BBB100-1 using Tapatalk
 
Very interesting but GOLD is not so friendly...hard to buy, hard to carry, hard to monetize....also the total supply is still unknown...

there's a better solution now.....BTC

You missed the point then. In a gold standard people would not actually carry gold, it's just there as a backstop to limit government spending and the banking sector.

And Bitcoin is not the solution. As I've already said multiple times, gold cannot be split. Gold is gold is gold while Bitcoin is Bitcoin cash is Bitcoin gold is Bitcoin version 1 million. The fact that it can hard forked into Oblivion means it's not really scarce, it's fiat and there in lies the con. It would be no better than the system we have today.
 
You missed the point then. In a gold standard people would not actually carry gold, it's just there as a backstop to limit government spending and the banking sector.

And Bitcoin is not the solution. As I've already said multiple times, gold cannot be split. Gold is gold is gold while Bitcoin is Bitcoin cash is Bitcoin gold is Bitcoin version 1 million. The fact that it can hard forked into Oblivion means it's not really scarce, it's fiat and there in lies the con. It would be no better than the system we have today.

I did understood that....just wanted to point the negative aspects of it...
as for the forks...
when BTC will gain it's general notoriety, no one will give a fck about forks....therefore no value would be attached to the forked coins...everyone will know what's what and which one is the true BTC...
Now it's the rat race and everyone doen't want to ''miss the opportunity'' that's why there is some value given to the forks...

With time and more general knowledge this behavior will disappear..

the future will show how will it be
 
Very interesting but GOLD is not so friendly...hard to buy, hard to carry, hard to monetize....also the total supply is still unknown...

there's a better solution now.....BTC

BTC_MOVE.PNG


https://twitter.com/real_vijay/status/1113998568392519680
 
Imagine how difficult it would be to make $190m in gold disappear. With bitcoin, this can happen in less than 5 minutes. #hugeadvantage

I think You don't understand this technology.
You can't make BTC disappear....it's forever in the blockchain

but "steal" or take control yes...and gold would perhaps be more difficult
 
And Gold is bringing way more job than BTC.
Gold is real, you can touch it, it will always be there. BTC can vanish forever pretty easily...
 
I think You don't understand this technology.
You can't make BTC disappear....it's forever in the blockchain

but "steal" or take control yes...and gold would perhaps be more difficult

And the blockchain is permanent? You can guarantee it will be there in 10, 100, 1000 years? Gold will be.

I have a basic understanding of BTC and blockchain, but I was just referencing the Quadriga fiasco with my "$190m disappearing" example...
 
And the blockchain is permanent? You can guarantee it will be there in 10, 100, 1000 years? Gold will be.

I have a basic understanding of BTC and blockchain, but I was just referencing the Quadriga fiasco with my "$190m disappearing" example...

As long as 1 copy of the blockchain remains it will be there.

Quadriga's BTC are still there but allegedly no one can access them and this it's a whole different story....
 
^^
the whole point of blockchain is ... that there should not be only 1 copy of blockchain, or else ...
 
As long as 1 copy of the blockchain remains it will be there.

Quadriga's BTC are still there but allegedly no one can access them and this it's a whole different story....

I thought they managed to access the wallets and found that all funds had been withdrawn?
 
What if nobody is mining anymore? With no computers to sustain the network, would blockchains still exist?

yes it won't disappear....it's about 400GB in size...unless everyone erase his copy of it...

the network can be in pause state and it requires only 1 participant to continue....others can disconnect and reconnect at will.....
 
Gold is real, you can touch it, it will always be there. BTC can vanish forever pretty easily...

You're missing the point...

lets say

is mathematics real ? is logic real ? or abstract and they are concepts...you still can't touch them...and they doesn't exist in physical manner...

but how useful no ? same thing with Internet...

Yes you can say I can write or print math to make it live.....same thing with BTC..you can print the code and the contents of the blockchain
 
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