im1badpup1
Well-known member
- Joined
- Oct 25, 2017
- Messages
- 90
Hi all
So Chinas reportedly going to release a national cryptocurrency backed with twenty thousand tonnes of gold theyve held back.
The idea is too cut the banks out the transactions altogether.
Now this would likely collapse fiat currency as it would collapse the world banking system, UNLESS the dollar, the euro the pound etc started to hold large gold reserves they could also back their currency with. And even if they did readopt the gold standard the financial institutions are a crippling burden of costs on businesses.
Were set in the next decade for gold production to drop by 1/3 as resources are finite and dry up.
Gold consumption is set to increase 1/3
Were almost at a point of 'peak gold' that is production will not increase no matter how much work goes into trying to mine or recycle the stuff.
The other big talking points are these, pollution in india and east asia is at a point industry will HAVE to adopt controls, platinum and palladium, main catalysts for cleaning up pollution, silver and gold will also be consumed.
So were approaching a convergence of practical value via necessity of precious metals both in pollution control and clean fuel sysnthesis and technology. And the money market becoming increasingly dependant upon gold reserves as a token of reassurance that fiat currency isnt just worthless paper with ink been printed off whenever a country needs a few billion off the magic money tree.. USA and europe are currently printing off 300billion each, 30billion a month until further notice. Thats a quarter of all their cash in circulation btw. So it comes as no suprise golds jump by over 25% since they started printing more money, theyre in effect devaluing their currencys and gold is just readjusting with the pace
heres max keisers report https://bitcoinist.com/china-cryptocurrency-gold-backed-says-max-keiser/
If hes accurate what ways do the west have to counter this?
So Chinas reportedly going to release a national cryptocurrency backed with twenty thousand tonnes of gold theyve held back.
The idea is too cut the banks out the transactions altogether.
Now this would likely collapse fiat currency as it would collapse the world banking system, UNLESS the dollar, the euro the pound etc started to hold large gold reserves they could also back their currency with. And even if they did readopt the gold standard the financial institutions are a crippling burden of costs on businesses.
Were set in the next decade for gold production to drop by 1/3 as resources are finite and dry up.
Gold consumption is set to increase 1/3
Were almost at a point of 'peak gold' that is production will not increase no matter how much work goes into trying to mine or recycle the stuff.
The other big talking points are these, pollution in india and east asia is at a point industry will HAVE to adopt controls, platinum and palladium, main catalysts for cleaning up pollution, silver and gold will also be consumed.
So were approaching a convergence of practical value via necessity of precious metals both in pollution control and clean fuel sysnthesis and technology. And the money market becoming increasingly dependant upon gold reserves as a token of reassurance that fiat currency isnt just worthless paper with ink been printed off whenever a country needs a few billion off the magic money tree.. USA and europe are currently printing off 300billion each, 30billion a month until further notice. Thats a quarter of all their cash in circulation btw. So it comes as no suprise golds jump by over 25% since they started printing more money, theyre in effect devaluing their currencys and gold is just readjusting with the pace
heres max keisers report https://bitcoinist.com/china-cryptocurrency-gold-backed-says-max-keiser/
If hes accurate what ways do the west have to counter this?