[heading]Bitcoin Responds To Its Environment, Gold Has Not…Yet[/heading]
I like Bitcoin and I like gold.
But as late, gold has not behaved as one would expect gold to. Of course, that gold has been so tied to the paper markets via GLD, has probably helped this.
Bitcoin has yet to weighed down so.
[heading]Banked & Poor: The Lose-Lose of Checkings & Savings[/heading]
As John Cheese at Cracked.com put it: “Being poor is like a game of poker where if you lose, the other players get to fuck you. And if you win, the dealer fucks you.”
[heading]Gold & A Storm of Data Heading The Market’s Way[/heading]
With a storm of data heading the markets’ way, things should be volatile in the coming days. Gold has reflected just this in early trading.
Gold persisted on with its blazing Friday performance on Monday, increasing in overnight (Sun-Mon) trading from $1235-$1256 by 12:45pm (EST), in part based upon a factory employment drop last month to the lowest in nearly four years. This despite an increase in manufacturing.
[heading]A Confiscatory Redenomination of Gold[/heading]
The world has entered into a neo-soviet situation, where prices are fixed just as they were in the Soviet Union. The quicker you come to understand this, the quicker you’ll come to understanding why gold is where it is today.
If you want to better understand the evolution of the gold price in the 21st century, looking towards the Soviet example could help.
[heading]Gold’s Biggest Quarterly Drop Since 1968: A Farce Or Sign of Times?/heading]
Gold and silver prices have hit their lowest points since August 2010. But, are investors and pundits looking at all the wrong indicators? It wouldn’t be surprising if they were, thus leading to liquidation spurred by manipulation and more liquidation. It is the Ivy league types who have buried precious metals under a mirage of arbitrary data points.
U.S Customs regulations reads like this: “There is no duty on gold coins, medals or bullion but these items must be declared to a Customs…
Trace Mayer took the time to discuss Bitcoin and silver with GoldSilverBitcoin.
TM: Hello and welcome to the Run to Gold Podcast. I’ve got with us special guest Justin O’Connell of GoldSilverBitcoin. One Thing I admire about you is you’ve got an open mind. We’ve got some people in the gold and silver niches who don’t have open minds, whether it is Chris Duane who has been bad-mouthing Bitcoin for two years and continues to badmouth it or people who think they can just ignore it like James Turk at GoldMoney. What do you think is driving BTC?
GSB: Well, I think first and foremost it’s the internet. Everyone believes in the Internet. Bitcoin is a microchasm of the Internet that can actually lead it in new directions. Google is going to try to shutdown websites that provide links for users to copyrighted material. They are going to do this the same way they did with WikiLeaks, through a “financial blockade.” WikiLeaks got around that with BTC, and The Pirate Bays will do the same.
Long time investors in gold, silver, platinum and palladium as a means to protect themselves against the debilitating effects of inflation, brought on by the…