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It will be commodities, like it always is.
richwicks says
It will be commodities, like it always is.
Well, at one time here in Virginia tobacco leaves were currency.
Gold is down about 25% from its recent 52 week high and about the same it was in 2011.
Gold to silver ratio has been at 93 the past couple of days. Finally fell a tiny bit to ~91 today -- on the strength of silver. One thing we know is that a ratio that extreme WILL NOT LAST LONG. That said, there's two ways to correct: a falling numerator or a rising denominator.
What will be this "real money?"
Gold to silver ratio has been at 93 the past couple of days. Finally fell a tiny bit to ~91 today -- on the strength of silver. One thing we know is that a ratio that extreme WILL NOT LAST LONG. That said, there's two ways to correct: a falling numerator or a rising denominator.
Gas station attendants wouldn't know gold from tungsten. Neither would the clerk at the supermarket.
Having physical gold would just get you robbed.
Gold to silver ratio has been at 93 the past couple of days. Finally fell a tiny bit to ~91 today -- on the strength of silver. One thing we know is that a ratio that extreme WILL NOT LAST LONG.
After the Mongols conquered China, they became quite enamored of the Chinese invention of paper money. They used and abused it throughout their empire. Once the Mongol empire fell, the Chinese stuck to silver for the next 800 years. OTOH, the insistence of China on hard money led to the Opium wars and eventual collapse of Imperial China (thanks you limey mfs).
I suspect metal coins will still be in service after the fiat paper currency has inflated itself away.
Man, that was an epic trade out of silver in 2010ish. iTulip (RIP) to the rescue on that one.
If gold and or silver prices look like they are going to skyrocket because the major banks are short a few tens of thousands of tons, the government will simply outlaw the commoners from owning the physical commodity.
They have done it before. I will bet they will do it again.
stereotomy says
Man, that was an epic trade out of silver in 2010ish. iTulip (RIP) to the rescue on that one.
Here's the chart for the silver run up back then. Still in awe of Ducky as he traded physical...
They have done it before. I will bet they will do it again.
They were paying for storage, so yes.
Here's the chart for the silver run up back then. Still in awe of Ducky as he traded physical...
Like the BTC players..
It's kind of bizarre how the dollar is doing so well against everything as the world turns to shit.
It's kind of bizarre how the dollar is doing so well against everything as the world turns to shit.
Patrick says
It's kind of bizarre how the dollar is doing so well against everything as the world turns to shit.
The reason is that most central banks have been printing far more money than the Fed, Japan, ECB etc. Everything is relative and while pretty much all currencies are being debased the Dollar may be stronger than most. Actually a little.bit of money printing is fine to make up for those notes that get destroyed/lost each year, but it's probably 0.0000001% of the Feds yearly printing.
It's kind of bizarre how the dollar is doing so well against everything as the world turns to shit.
but could someone explain why someone wouldn't want a dollar?
The list goes on of places that I've gone that take a USD.
They come here for the USD.
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