On Wed, 21 Oct 2015 09:06:40 +0000 Zenaan Harkness <zen@freedbms.net> wrote:
On 10/21/15, Juan <juan.g71@gmail.com> 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-la...
Z