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Thread: Russia & China could set international gold price based on physical gold trading

  1. #1

    Default Russia & China could set international gold price based on physical gold trading

    I think this would be in their best interest to do as N.Y and London( Bankers) are trying to keep metals at bay so Russia, China, India, Brazil & South Africa don't gain any power from a gold back system and the dollar remains King...JMHO


    Should the petro dollar die the U.S would be in big trouble. Debt debt debt

    AS I have stated many times Keep shorting and stack that fiat for $1K and lower. Use the takedowns to your advantage. Watch your stack grow...The rest of the world won't let the manipulation last for ever......But don't really care right now as they are still stacking/Buying mines.



    Since Russia, China, India, Brazil & South Africa are all either large producers or consumers of gold, or both, it is highly likely that the BRICS bloc they constitute could focus its cross-border gold trading network on trading physical gold.
    Gold pricing benchmarks from such a system would be based on physical gold transactions, which is a departure from the way the international gold price is currently established.



    OTC and COMEX are really trading synthetic derivatives on gold, and are completely detached from the physical gold market. In London, the derivative is fractionally-backed unallocated gold positions which are predominantly cash-settled. In New York the derivative is exchange-traded gold future contracts which are predominantly cash-settled and backed by very little real gold.


    https://www.rt.com/business/411763-r...et-gold-price/
    Last edited by Silver and Gold; 12-05-2017 at 10:17 AM.

  2. #2
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    Russia is just opening a gold exchange, with deliveries of physical gold.

    http://www.mining.com/web/moscow-exc...-futures-2018/

  3. #3

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    I think they are buying physical more than selling through the pressure on COMEX. Both China and Russia could have stock up more fiat USD to allows speculators to demand delivery and send to Russia and China at premium.

    If BTC can rise 30x in a year, Gold price will go up 3x and Silver 10x with rising 10% to 25% weekly allowing buy low in COMEX and sell high in Moscow/Shang Hai. This will drive all metal like copper, nickel or platinum, palladium rising high. This allows fiat printer to print additional zeroes behind to support the demand of more fiat. You will have new richest in BRICS countries. The corruption money will also turn physical and hide within china instead of flowing the electronic digits overseas. All overseas digits will flow back to China and Russia making all business close down. The small countries living on these corruption money will have freezing economy or driving down properties and lead to FOREX rate USD/CNY pegging change.
    Last edited by SnakeEater; 12-21-2017 at 09:02 PM.
    He who knows nothing is closer to the truth than he whose mind is filled with falsehoods and errors. ~ Thomas Jefferson

  4. #4

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    If BRICS raise the price of gold/silver, even if the West attempts to continue the scam, the physical will be quickly purchased from the Western stores and moved to the East. Once the West runs out of physical for large volumes, like those from BRICS central banks, that will be the defining moment when the Western exchanges (Comex and LME) lose their control and become sub-servient. If this happens with the debt to EBITDA ratio that is currently in existence in the West, the Western countries will be bankrupt, imo.

  5. #5

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    Quote Originally Posted by surfsup View Post
    If BRICS raise the price of gold/silver, even if the West attempts to continue the scam, the physical will be quickly purchased from the Western stores and moved to the East. Once the West runs out of physical for large volumes, like those from BRICS central banks, that will be the defining moment when the Western exchanges (Comex and LME) lose their control and become sub-servient. If this happens with the debt to EBITDA ratio that is currently in existence in the West, the Western countries will be bankrupt, imo.
    Crypto digits for advanced world and fiat digits for third world. When fiat Banks become third world and crypto is second world, Gold/Silver/Platinum is first world. All will own a portion of wealth in PM.
    He who knows nothing is closer to the truth than he whose mind is filled with falsehoods and errors. ~ Thomas Jefferson

  6. #6

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    Price! Price! Price! You are all assuming Price! in terms of fiat; pricing gold, something that exists--and can be measured--in terms of something that is imaginary, can't be counted, and is highly controlled.

    You don't have to be a rocket surgeon to figure out how this will end.

  7. #7

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    Quote Originally Posted by SnakeEater View Post
    Crypto digits for advanced world and fiat digits for third world.
    I would hardly refer to a society as advanced that thinks a crypto, which is literally nothing, is some sort of wealth. My opinion but...

    1) Math: CPU processing advances per year render advanced mathematical encryption from 5 years ago effectively obsolete - we learn of another crypto that gets hacked for $500M this weekend. Cryptos are not safe since the "cryptography" is dated. Hacks, FBI seizures, how is this believed to be secure?
    2) De-centralized: coinbase board member (who works for the FBI) recently states they tracked and convicted criminals solely on their use of Bitcoin. Obviously not de-ccentralized. How someone can think this is discrete from government's prying eyes is beyond me.
    3) Limited supply: Bitcoin has forked several times. The amount of new cryptos being created is infinite. The "supply" of cryptos will just become greater and greater. Ultimately people determine how many zeros can be added to the end of the total for any of them. The USD is already a crypto, with only 3% actually printed or coined, 97% crypto. People decide how many zeros to add to its total. We see how well that is going. Gold is finite, you have to dig it up. There is a physical cap that cannot be manipulated.
    4) Stability: Can't use cryptos in a power outage. Can't carry them in your pocket. In a negative interest world your cryptos, BTC or USD or whatever it is called, will be taken from you via negative interest - they must be kept online stored in a wallet. We already see "secure wallets" being introduced left and right.
    5) Secure: there is an internet kill switch. We all know this. It is fairly easy for someone to create and execute a blockchain kill switch. The moment a USB drive that contains a wallet from 100 years ago is connected to the internet, the wallet can be traced and swiped. Nothing backs up ownership like a physical receipt, title, statement, etc. Nothing.
    6) Confidence: or should I say gullibility? There is no actual confidence BTC can be used as money. A coupon? Sure. But not money. BTC trades as an investment, not money. The moment it is generally perceived the runup is over, imo it will crash to zero. Who wants to own something they don't feel they can sell at a higher price later?
    7) Insured: nope. If you are hacked or lose your crypto, you're on your own. Money in the "system" can be insured. Good luck with getting your cryptos back if you are the unfortunate one this week. The more wealth you accumulate in cryptos the larger the target.
    8) Functional: Cryptos cannot be used for anything. It is a zero and a one. Gold, silver, et al have industrial uses which keep growing, many of which we don't even know yet.
    9) History: Gold and Silver are considered money by the entire planet, by the combined largest GDP in the world (BRICS) and by the majority of the world population (again, BRICS). Their governments are telling their citizens to buy gold. Their CBs are gobbling up gold. Other alliances are doing the same (Ergodan, etc). We just saw another country tell their citizens they should all own at least 3 oz of physical gold. Their governments do not allow gold to leave the country. Their mining industries are some of the largest producers. The BRICS are producers. The West are mainly consumers and service-oriented GDP.
    10) Blockchain: the blockchain will stop being a backing of nothing and will eventually start backing real assets. These assets will be physical stores of wealth: homes, gold, cars, etc. to back up physical receipts, titles, etc. The blockchain is the value and have nothing to do with cryptos. Cryptos are again, literally nothing. Just a math equation that a 2030 pocket calculator will likely solve in 4 minutes time.
    11) speed: cryptos are too slow. 10 minutes or more to transact.
    12) frugality: cryptos are too expensive to use. $1-$50 to transact makes no sense.
    13) volatility: don't need to say anything more.

    I am looking at cryptos today as a momentary blip on the human radar. This too shall pass. All IMO, of course. Gold does everything fiat and cryptos do now and so much more. Soon it will be backed by the blockchain as another level of redundancy. Gold micro-payments systems will follow just like bitcoin has them. At that point, there is no need for nothing-crypto when you can have crypto-gold based on your physical holding. Goldmoney is almost there allowing you to use a gold backed credit card. Pretty soon it will simply be gold-backed micro payments.
    Last edited by surfsup; 01-01-2018 at 08:21 PM.

  8. #8

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    Surfsup, "cryptos", or at least Bitcoin, are a public ledger that cannot be gamed. That's nearly all that can be said about them. The rest of your points are how the public chooses to use them, and are external to their function.

    How about let's talk about your proposed gold-backed micro payments, when the backers (cough, U.S. government) decide not to back them any more?

  9. #9

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    Quote Originally Posted by AnotherDave View Post
    Surfsup, "cryptos", or at least Bitcoin, are a public ledger that cannot be gamed. That's nearly all that can be said about them. The rest of your points are how the public chooses to use them
    Exactly
    just like the rain that falls cannot be changed, but that didnt stop certain states from gaming the interface between how humans use them, and declaring that rain gutters and barrels under your eaves is somehow illegal, by declaring all rain as belonging to the state, or how about guerilla wells in a restricted water district.

    sure the bitcoin blockchain (H20) canmot be gamed, it is what it is..

    but all the human interface usages are constantly gamed.

    really, your argument that the blockchain cannot be gamed, because it is an unbreakable ledger, is something nobody is arguing. you refuse to accept that we have been continually agreeing with you on that, but you, like a broken record, refuse to look beyond the unbreakable code to how humans are ACTUALLY UTILIZING THE CODE in their money use systems. the human interface is what is being gamed. if there were no humans involved, then it will not be gamed. the very presemce of human interfaces brings lies, deciet, theft, greed, speculation, forking, dilution, GAMING to CRYPTOCURRENCIES, not to the actual code itself.
    Last edited by shades; 01-01-2018 at 04:23 PM.

  10. #10

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    Reading about cryptos has brought me to other aspects I hadn't considered

    I think I like the technology behind cryptos but I don't own any cryptos

    Thanks all for the clarity
    LOL

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