USA government debt ceiling
Juan
juan.g71 at gmail.com
Thu Oct 22 13:05:41 PDT 2015
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
>
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