USA government debt ceiling

[Juan]

On Wed, 21 Oct 2015 09:06:40 +0000
Zenaan Harkness <zen at freedbms.net> wrote:

> On 10/21/15, Juan <juan.g71 at 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-last-nail-petrodollar-coffin
> 
> Z
>