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Very Hot Topic (More than 25 Replies) Conflict Is the Driving Force behind Bitcoin and Gold (Read 1535 times)
Jeff
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Re: Conflict Is the Driving Force behind Bitcoin and Gold
Reply #40 - Jun 18th, 2017 at 7:59pm
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BobK71 wrote on Jun 18th, 2017 at 7:53pm:
...so there's no need to go into that.
Are you firmly committed to that?

You will never ever tell us what you mean by "socially responsible capitalism"? Never? Ever?
  
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SkyChief
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Re: Conflict Is the Driving Force behind Bitcoin and Gold
Reply #41 - Jun 18th, 2017 at 11:50pm
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BobK71 wrote on Jun 18th, 2017 at 7:49pm:
It would serve as a valuable life lesson in human nature as manifest by institutions of 'trust.'

Perhaps its time we revisited the institutions of "trust".
  
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Jeff
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Re: Conflict Is the Driving Force behind Bitcoin and Gold
Reply #42 - Jun 19th, 2017 at 7:46am
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SkyChief wrote on Jun 18th, 2017 at 11:50pm:
Perhaps its time we revisited the institutions of "trust".

Unregulated private banks must earn the trust of their customers, otherwise they go out of business.
People who are worried about unregulated private banks not really being trustworthy could buy deposit insurance from unregulated private insurers, who must also earn their customers trust or they go out of business.
  
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BobK71
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Re: Conflict Is the Driving Force behind Bitcoin and Gold
Reply #43 - Jun 26th, 2017 at 10:10am
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SkyChief wrote on Jun 18th, 2017 at 11:50pm:
Perhaps its time we revisited the institutions of "trust".


That would be very nice.

Although, realistically and unfortunately, in the present world the only people empowered to make that happen are Western populations who have the power to vote.  Their disillusionment with the status quo as manifest by Brexit, Trump, and Macron is likely driven mainly by the loss of their seat at the table of the feast on global asset inflation.

What the elites will try to do will be to bribe them back into the fold by giving them benefits via fiscal expansion.  I guess you could call this progress, since the elites are now forced to expose the state-driven nature of their distribution of goodies, but it will hardly represent general enlightenment.

What we're fighting is a battle of millennia.
  
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BobK71
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Re: Conflict Is the Driving Force behind Bitcoin and Gold
Reply #44 - Jun 26th, 2017 at 10:20am
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Jeff wrote on Jun 18th, 2017 at 7:59pm:
Are you firmly committed to that?

You will never ever tell us what you mean by "socially responsible capitalism"? Never? Ever?


Patience, my friend.  I only have so much time...
  
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SkyChief
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Re: Conflict Is the Driving Force behind Bitcoin and Gold
Reply #45 - Jun 26th, 2017 at 11:43am
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BobK71 wrote on Jun 26th, 2017 at 10:10am:
What the elites will try to do will be to bribe them back into the fold by giving them benefits via fiscal expansion

Fiscal expansion?  Is that in any way related to quantitative easing?  Some wiggle-room for the IMF?
  
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BobK71
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Re: Conflict Is the Driving Force behind Bitcoin and Gold
Reply #46 - Jun 27th, 2017 at 12:30pm
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SkyChief wrote on Jun 26th, 2017 at 11:43am:
Fiscal expansion?  Is that in any way related to quantitative easing?  Some wiggle-room for the IMF?


Taxing the well-off to pay for benefits for the rest of the Western voters, as well as raising more public debt.

Imagine standing on the roof of a burning house.  You switch  between left and right foot as each feels the heat.  With government bond yields this low, and a lot of rich income waiting to be taxed, this play clearly looks to me like the next trick.
  
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Don_G
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Re: Conflict Is the Driving Force behind Bitcoin and Gold
Reply #47 - Jun 27th, 2017 at 12:44pm
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BobK71 wrote on Jun 27th, 2017 at 12:30pm:
Taxing the well-off to pay for benefits for the rest of the Western voters, as well as raising more public debt.

Imagine standing on the roof of a burning house.  You switch  between left and right foot as each feels the heat.  With government bond yields this low, and a lot of rich income waiting to be taxed, this play clearly looks to me like the next trick.


The US government isn't going to continue to allow any kind of scam that allows the 99% to avoid paying taxes. You know that very well Bob, so beware of where you decide to hide your money.

It's also pretty damn clear that you know what needs to be done to fix the US capitalist system! In the meantime, playing the system for self-preservation is the wise choice, with caution.
  
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SkyChief
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Re: Conflict Is the Driving Force behind Bitcoin and Gold
Reply #48 - Jul 3rd, 2017 at 4:58pm
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The current gold price bears no relation to real value of gold.  The manipulation in the ETF [paper] market will eventually fail and the holders of paper gold will demand delivery of physical. Of course, they won't get it, because it simply isn't there. 

When this happens, the US dollar will crash.  Gold will go up to $12k/Ounce.  The government will pass Laws making it illegal to own physical gold. They will have a "grace" period to allow gold owners to redeem their physical gold for FRNs.  Alas, there won't be any takers.

But it wont really matter, because the US will look like Venezuela - Rioters commandeering delivery trucks and murdering the driver, and looting. People eating their pets.   It will be dark times for Americans.

And then I WOKE UP!  *phew* 

Smiley
  
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BobK71
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Re: Conflict Is the Driving Force behind Bitcoin and Gold
Reply #49 - Jul 5th, 2017 at 4:44pm
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Don_G wrote on Jun 27th, 2017 at 12:44pm:
The US government isn't going to continue to allow any kind of scam that allows the 99% to avoid paying taxes. You know that very well Bob, so beware of where you decide to hide your money.

It's also pretty damn clear that you know what needs to be done to fix the US capitalist system! In the meantime, playing the system for self-preservation is the wise choice, with caution.


I can guess 'very well' what the next trick will be.  It doesn't mean the trick will solve the real problem, though.

One way or another, you have to incentivize production.  Redistribution does the opposite, and is often a political and financial trick rather than a solution.  But, I'll agree, this trick's time has come, and there is a lot of agitation for it.
  
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