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Jun 10 - Beijing answers Trumpís tariffs with massive gold-buying spree


 


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Top 10 most slapped recently  1 week ago '19        #26
Gold Face 2 heat pts
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 imthatinfamous said
in a gold standard countries set the price of gold...i've never seen anyone know less of something they claim to know
Lmao so stupid it hurts

So when countries set price on gold...what happens to the dollar dummy.

 1 week ago '06        #27
imthatinfamous 48 heat pts48
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 Gold Face said
Lmao so stupid it hurts

So when countries set price on gold...what happens to the dollar dummy.
in a gold standard paper money has a value directly linked to...wait for it...gold

 1 week ago '19        #28
925 2 heat pts
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 imthatinfamous said
hyperinflation and abuses of monetary policy..try again...inflation still occurs when on a gold standard as is event countless times in history

edit: thats the theory...situations of hyperinflation have also occurred
To his point when hyperinflation exists on a gold standard the result is a reset in the price of gold. Fiat currencies have a shelf life its not a monetary equation its more like physics. As do reserve currencies and the USD is long in the tooth.

There is no choice but to eventually reset the reserve status of USD (could mean tommorrow could mean 50 years from now). Historically the reset involves a precious metal. Maybe that line of thinking is outdated in western monetary philosophy hubris but it certainly is alive and well in China, Turkey, India, Russia etc etc. Not to mention central banks already (allegedly) hold it so they won't need to find another hard a*set in the event they do a hard reset.

China actually has aquired way more gold than reported as they wait for a repeat of the London Gold pool failure (this time its etfs). The East has been implementing a soft reset de dollarization for years. Just last month in addition to the yuan oil futures China announced yuan other yuan denominated commodity futures trading contracts. The Russian central bank is hoarding all the gold the country produces and are implementing an oil reserve system that bypasses the usd to sell, not just russian crude, but blends which include Venezuela Iranian oil etc.

The inflation that destroys reserve currencies usually comes from the over extending of a nation via war or the over extending domestically. Its either guns or bread. We been serving guns and butter since Vietnam while some how keeping the system afloat. How much longer can they keep juggling 10 chainsaws over a pit of fire?
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Top 10 most slapped recently  1 week ago '19        #29
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 imthatinfamous said
in a gold standard paper money has a value directly linked to...wait for it...gold
No it doesn’t

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 1 week ago '10        #30
ajayones 1 heat pts
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got to get this cuban link before the price jump up

 1 week ago '06        #31
imthatinfamous 48 heat pts48
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 Gold Face said
No it doesnít



you really don't understand how monetary systems work

Top 10 most slapped recently  1 week ago '19        #32
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 imthatinfamous said


you really don't understand how monetary systems work
Your an idiot


 1 week ago '19        #33
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 imthatinfamous said


you really don't understand how monetary systems work
Aside from debating what exactly a gold standard entails...Whats your position on holding gold nowadays?

How else do you insure youself against the world's monetray madness? Netflix stock?? Bitcoin?? Farmland?

 1 week ago '06        #34
imthatinfamous 48 heat pts48
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 925 said
To his point when hyperinflation exists on a gold standard the result is a reset in the price of gold. Fiat currencies have a shelf life its not a monetary equation its more like physics. As do reserve currencies and the USD is long in the tooth.

There is no choice but to eventually reset the reserve status of USD (could mean tommorrow could mean 50 years from now). Historically the reset involves a precious metal. Maybe that line of thinking is outdated in western monetary philosophy hubris but it certainly is alive and well in China, Turkey, India, Russia etc etc. Not to mention central banks already (allegedly) hold it so they won't need to find another hard a*set in the event they do a hard reset.

China actually has aquired way more gold than reported as they wait for a repeat of the London Gold pool failure (this time its etfs). The East has been implementing a soft reset de dollarization for years. Just last month in addition to the yuan oil futures China announced yuan other yuan denominated commodity futures trading contracts. The Russian central bank is hoarding all the gold the country produces and are implementing an oil reserve system that bypasses the usd to sell, not just russian crude, but blends which include Venezuela Iranian oil etc.

The inflation that destroys reserve currencies usually comes from the over extending of a nation via war or the over extending domestically. Its either guns or bread. We been serving guns and butter since Vietnam while some how keeping the system afloat. How much longer can they keep juggling 10 chainsaws over a pit of fire?
great post but I would disagree with some things.

Not that I disagree with this one but, I doubt other nations would reset the value of gold because because one nation was reckless enough to over print..granted, we haven't seen a gold standard implemented in a truly globalized economy like todays

It is not a matter of age, rather, a matter of what is backing the currency. The U.S stopped the gold standard because the value of its economy was far greater than the value of gold. Keeping the gold standard would be an injustice to the value of the dollar. For the USD to be replaced as the reserve currency another nation would have to surpass it in GDP (or find something that it can hoard that is more valuable than the U.S GDP). The value of a precious metal would have to historically increase in value for it to over take the GDP of the U.S, and not to mention you would need all the players in the world to be in on gold (or any other precious metal) as the reserve currency.

I don't care how much gold the U.S or China hords, they are not going to a gold standard. G.S is some doomsday saftey net thinking. All you mentioned about what China and Russia is doing they tried after the collapse of 2007-2008 and it failed.


USD foreign exchange reserves has held steadily in the 60%s since the 90s.
EU is second holding steadily in the 20%s during the same period.


Last edited by imthatinfamous; 06-11-2019 at 12:32 PM..
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 1 week ago '06        #35
imthatinfamous 48 heat pts48
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 925 said
Aside from debating what exactly a gold standard entails...Whats your position on holding gold nowadays?

How else do you insure youself against the world's monetray madness? Netflix stock?? Bitcoin?? Farmland?
You have to be a constant player in the monetary madness. Smartest or most corrupt guy wins.
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 1 week ago '19        #36
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 imthatinfamous said
great post but I would disagree with some things.

Not that I disagree with this one but, I doubt other nations would reset the value of gold because because one nation was reckless enough to over print..granted, we haven't seen a gold standard implemented in a truly globalized economy like todays

It is not a matter of age, rather, a matter of what is backing the currency. The U.S stopped the gold standard because the value of its economy was far greater than the value of gold. Keeping the gold standard would be an injustice to the value of the dollar. For the USD to be replaced as the reserve currency another nation would have to surpass it in GDP (or find something that it can hoard that is more value that the U.S GDP). The value of a precious metal would have to historically increase in value for it to over take the GDP of the U.S, and not to mention you would need all the players in the world to be in on gold (or any other precious metal) as the reserve currency.

I don't care how much gold the U.S or China hords, they are not going to a gold standard. G.S is some doomsday saftey net thinking. All you mentioned about what China and Russia is doing they tried after the collapse of 2007-2008 and it failed.


USD foreign exchange reserves has held steadily in the 60%s since the 90s.
EU is second holding steadily in the 20%s during the same period.
Yeah I agree- we probably aren't going back to a gold standard per se. BUT I do believe countries are starting to bypass the dollar by using gold as a global trade settlement. That little 17 tons China bought is a boulder in the grand canyon.

I do disagree with you on why we went off the gold standard. Imo we did it because we overprinted and over extended ourselves to pay for Vietnam. When France came knocking to ask for their gold it was like that scene in dumb n dumber where the suitcase was full of ious. We didn't have the gold to cover the amount we printed so Kissinger set up the petro dollar.

Since then we've gone from using savings as a means to employ capital to financial engineering through printing. It's truly amazing how they've kept the plates spinning. Western central banks need inflation to survive to devalue their currencies enough to make the glut of debt solvent. Your looking at US GDP but what about USD debt?

Regardless the global finanicial sysem is in big trouble and I suspect the Feds next step is to lower the dollar by lowering interest rates handidly. Something has to give I suspect that something is a lower USD which translates to higher commodities and if/when there is a recession precious metals should do well.

Btw I don't need the sky to fall. 1500 gold and 20 bucks silver I should do extremely well. Im leveraged all in on a US Silver/Gold play so im insulated from protectionsim.
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 1 week ago '19        #37
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 imthatinfamous said
You have to be a constant player in the monetary madness. Smartest or most corrupt guy wins.
Corrupt beats smart all day everyday.

Im trying to narrow you down to your book though and if your hedged against monetary madness. What takes the place of hard a*sets as an insurance or when the musical chairs stop?

Granted it does seem like US stocks are getting repeated injections of controlled inflation so in the scenario USD long does unravvel it may just go to Netflix. IMO the stock market is artificially being propped up because a real correction would bankrupt pensions. The hard a*set guys been waiting on a rotation of capital to risk off. We've been left at the station waiting on a train that may not come but my question is why is it so bad to own a little gold for insurance? What takes its place ???... And don't say bitcoin.

 1 week ago '06        #38
imthatinfamous 48 heat pts48
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 925 said
Corrupt beats smart all day everyday.

Im trying to narrow you down to your book though and if your hedged against monetary madness. What takes the place of hard a*sets as an insurance or when the musical chairs stop?

Granted it does seem like US stocks are getting repeated injections of controlled inflation so in the scenario USD long does unravvel it may just go to Netflix. IMO the stock market is artificially being propped up because a real correction would bankrupt pensions. The hard a*set guys been waiting on a rotation of capital to risk off. We've been left at the station waiting on a train that may not come but my question is why is it so bad to own a little gold for insurance? What takes its place ???... And don't say bitcoin.
If I were to hedge against monetary madness in the future I would put my bets on 2 things.

1.Water - as the privatization of this has been occurring
2. Uranium - 17 countries in the world have the ability to enrich uranium. The world will one day be more dependent of nuclear energy than anything else in its attempts to curb carbon emissions. Homes, cars, boats, commercial vehicles, business',etc will be powered through this. In the international platform there is always the attempt to prevent countries gaining the ability to enrich uranium (veiled with the argument of prevent more nuclear weapons) these players will one day most likely provide energy to the world.

I would buy securities backed by these two elements

 1 week ago '16        #39
00010111 130 heat pts130
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 Bucks414 said
Buying gold in this day and age is retarded
Holding USD is smart, right?


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