Quote from: Average Guy on Street on December 07, 2014, 02:48:33 PM
The US National debt just crossed 18 Trillion.

The following debt chart is alarming.
http://upload.wikimedia.org/wikipedia/commons/e/ed/US_Public_Debt_Ceiling_1981-2010.png

The dollar may look strong, but it's being propped up by debt created through Quantitative Easing.

After the US went off their modified good standard in 1971, it took ten years for the national debt to reach 1 Trillion. Notice how fast it's grown since then.

Why are countries wanting to repatriate their gold?
Likely because they know that the current system doesn't work and has to change.
Many believe that Gold will be the measure of accounting when the US dollar looses its reserve status, and the world must switch to a new monetary system.
BitGold maybe the best way to hedge against the coming hyperinflation that will occur when the current monetary system collapses.


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Yip, and BitGold lives on a decentralised blockchain so if they decide to confiscate, seize or heavily tax private gold as they have in the past your BitShares BitGold will be protected.

Russia & it's proxies have been buying gold non stop since 2008. Their central bank also changed its logo to the gold ruble last year.



China has been buying boatloads of gold too and have actively sought to take over the gold pricing mechanism via the SGE. I think it's only a matter of time before we see a new gold standard introduced.

Many have been aware that Western central banks have been suppressing gold the last few years and this recent report shows the trade they could be using. (It also says they're possibly hedging by being long physical silver, so I want me some BitSilver too.)

http://www.zerohedge.com/news/2014-12-04/inside-look-shocking-role-gold-new-normal

The US National debt just crossed 18 Trillion.

The following debt chart is alarming.
http://upload.wikimedia.org/wikipedia/commons/e/ed/US_Public_Debt_Ceiling_1981-2010.png

The dollar may look strong, but it's being propped up by debt created through Quantitative Easing.

After the US went off their modified gold standard in 1971, it took ten years for the national debt to reach 1 Trillion. Notice how fast it's grown since then.

Why are countries wanting to repatriate their gold?
Likely because they know that the current system doesn't work and has to change.
Many believe that Gold will be the measure of accounting when the US dollar looses its reserve status, and the world must switch to a new monetary system.
BitGold maybe the best way to hedge against the coming hyperinflation that will occur when the current monetary system collapses.


Sent from my iPad using Tapatalk

Quote
If the Fed does this, it's unlikely to be in 2015. As long as energy prices are this low, the economy is looking pretty strong, which is why the Fed actually pulled back a bit. Gold is a great place to be as inflation kicks in, however, which should be the next stage.

Agree. But you can't increase the amount of USD in circulation by a factor of 4 and not have inflation. They're trying to hold the balloon underwater, but its gonna come up eventually. In the old days, inflation by definition was an increase in the money supply.

Quote from: Average Guy on Street on December 06, 2014, 04:04:54 PM
I would love to invest in bitgold and bitsilver.

After the 2008 financial crisis, both these commodities sky rocketed over 2 years.

It's likely it will happen again, when the us federal reserve does quantitative easing #4, which many predict in 2015.

I agree.
I would also hold so BTS  .01 to $1 is an awfully big move.

 what about bitOIL?

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Quote from: Average Guy on Street on December 06, 2014, 04:04:54 PM
I would love to invest in bitgold and bitsilver.

After the 2008 financial crisis, both these commodities sky rocketed over 2 years.

It's likely it will happen again, when the us federal reserve does quantitative easing #4, which many predict in 2015.

If the Fed does this, it's unlikely to be in 2015. As long as energy prices are this low, the economy is looking pretty strong, which is why the Fed actually pulled back a bit. Gold is a great place to be as inflation kicks in, however, which should be the next stage.

I would love to invest in bitgold and bitsilver.

After the 2008 financial crisis, both these commodities sky rocketed over 2 years.

It's likely it will happen again, when the us federal reserve does quantitative easing #4, which many predict in 2015.

BitGold is the only currently trading bitasset that I am actually long on.  BitUSD is great for payment, and great for business, but a huge part of the reason I have invested money into crypto is to get my savings out of USD.

Quote from: xeroc on November 12, 2014, 04:56:17 PM
Isn't it MUCH easier to have onrams for bitUSD?
Isn't there alot more demand for buying bitUSD than buying bitGold?

BTW, the recent merger change the names to bitGOLD and bitSILVER .. just a  FYI

Ahh thanks.

Yes much easier onramps for USD, EUR etc, but once in BitUSD, it's a decentralized market away from Bitshares, then BitGold.  There is certainly a lot more demand for USD and therefore BitUSD at the moment.  I guess i'm talking about savings and the potential for a rapid change in perception which could lead to BitGold & BitSilver's demand climbing rapidly whilst the opposite occurs in BitUSD.

What do you think would happen to the BitGold peg if Gold suddenly tripled in value (USD)?

Isn't it MUCH easier to have onrams for bitUSD?
Isn't there alot more demand for buying bitUSD than buying bitGold?

BTW, the recent merger change the names to bitGOLD and bitSILVER .. just a  FYI

Given the possibility that all currencies are likely to become even more volatile relative to each other & that FIAT is a race to the bottom, shouldn't BitGLD, BitSLV and other commodity pegged assets receive more of our marketing attention than the BitAssets pegged to paper?  Aren't paper currency values certain to fall off a cliff and soon?

Early adopters of BitShares and early users of BitGLD etc could benefit from a upward revaluation that seems inevitable.....

I'd be very interested to know your thoughts....