On Wed, 21 Oct 2015 09:06:40 +0000 Zenaan Harkness <[email protected]> wrote:
> On 10/21/15, Juan <[email protected]> wrote: > > > The chinese government isn't moving away from fiat although > > there seems to be rumours of them linking the yuan to gold > > somehow. > > "September 10th, 2015: China’s Shanghai Gold Exchange announces that > physical gold bullion will be allowed to be used as collateral on > future’s contracts, beginning September 29th, 2015. “This development > is an important one for the gold market and is bullish for gold. It > shows, once again, that gold is slowly but surely becoming a cash > equivalent and as money again. Gold’s re-monetisation in the > international financial and monetary system continues.” That's an interesting piece of news. Regardless, I don't think any government is going to rock the boat too much or promote a system that restricts their own ability to inflate (i.e. to steal). > > > We'll see in time. I have no doubt they (USG/Federal Reserve Bank) can > QE (print money) their way for another round or three, the only > question is what is in their (maximal) interest - reset now, or QE > again. Yep. The dollar economy is big and it's impossible to make any definitive forecast about its collapse. > > > > As to common people in china, maybe they are buying more > > bitcoins (and gold?), but the amount of fiat that's been > > turned into btc isn't exactly big, I would guess. So, saying that > > the chinese are shifting into bitcoin seems overly optimistic. > > "Diversification" in the face of a soon to collapse world reserve > currency, USD, makes sense though. Yes. > > http://www.zerohedge.com/news/2015-10-09/another-petro-state-throws-towel-last-nail-petrodollar-coffin > > Z >
