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While They’re Letting Cryptocurrencies Run For Now, the Gov Has An Internet Kill Switch That Can Destroy BitcoinWhat About Gold?

 

There’s strain in the gold market. Recent increases in gold withdrawl from the COMEX suggests a shortage of physical metal, Chris Powell says.

In the past year, revelations such as the Deutsche Bank lawsuit made the truth of gold and silver price manipulation practically undeniable. But the mainstream remains relatively silent on the topic.
If gold and silver were not manipulated, they could be moving higher as dramatically as cryptocurrencies, Powell says.

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    • Why is every commentator unnecessarily rude? If silver bugs can’t even speak about each other without inserting an insult, what hope is there for people coming together when Scooby hits the fan? Manners maketh the man.

    • If you view the 10 year charts for silver you’ll understand why people are upset on this forum and hate bitcoin, ethereum, etc.  Dating back 5 and 6 years ago when Bitcoin was $20 – $100 range they called it Con-coin, Sh*tcoin, Ponzicoin and every other name in the book doing their best to scare everyone away from touching these crypto currencies.

      Despite the recent sell off Bitcoin is upwards of $2,500 range or a 25x to 100x return over 5 years while silver has gone down about 50% during the same period.  Now these same pundits which have been 100% incorrect about EVERYTHING continue to slam away at Bitcoin calling it every name in the book.  They were WRONG about how everything would play out for the next decade.  They said the stawk’ market would be at 5,000 and it’s over 20,000.  They said silver would be $100 to $500 it’s at $17-ish.  They said Bitcoin would be $1.00 or completely worthless and its $2,500.  They said gold would be $5,000 and $20,000 and it remains around $1,275.

      They have no legs or reputation to stand on anymore!!  Everyone that has listened to them has been led to financial ruin.

      Geeze…how many free hall passes do you get before accusing these people of dishing out the worst investment advice of 20th Century!

    • Accurate factual comments like the above are something the metals pumping/shill blogger types don’t want potential subscribers to consider and realize.

      The shills/crackpots out there have been selling BS narratives for years while promising/predicting a turnaround or crash based on their doomer fantasies/anxieties and trying to skin some dollars in the process by saying whatever they think people will swallow or tolerate.

      That accurate comment above kind of pops the bubble their belief system has become.

      http://www.kereport.com/2017/06/14/recapping-fed-statement/

       

      http://www.kereport.com/2017/06/14/recapping-fed-statement/

    • First of all, there are no longer that many that visit this site anyway.  If you clicked on the SD link tomorrow and this page said, “this web site has been permanently shut down”, I doubt anyone would really care.  That’s what happens when you keep posting years and years of the same garbage, by the same people.  The majority that do ‘drop in’ on occasion, just want to see what others are saying, and certainly not to get an ounce of good information from outdated, re-posted and inaccurate articles from those that apparently have their own agenda.

    • What About Gold? he is retarded right? Its ALREADY DESTROYED stuck in 1260 range for ages.

      None of my gold has been destroyed. It smashed into this planet millions of years ago and it’s all still here.
      Powell says only one in a million understand bitcoin which really means this sounds difficult I can’t be bothered to understand it but that won’t stop me trashing it,
      PM’s and Bitcoin both stand as a non-fiat store of wealth which could or should be used as money,

    • @PhiPhi

       

      “PM’s and Bitcoin both stand as a non-fiat store of wealth which could or should be used as money,”

      Well, that’s half right, IMO.  PMs stand as a non-fiat store of wealth but bitcoin IS a fiat currency and therefore is not money or a store of value.  Has it gone up a lot in the past few years?  It sure has.  But then, things that are in a mania are prone to do that.  Think tulip bulbs in Holland ca 1640.  Vast fortunes were made and lost in those tulip bulbs.  But they were not money or a store of value.  Eventually, they assumed their intrinsic value of not much at all.  Will the same happen to bitcoin? Maybe.  It’s early yet and difficult to say.  But it would not surprise me if it did.

      While bitcoins are limited in quantity, there is no limit to the number of crypto-currencies that can be created.  I seem to remember reading the other day that there are more than 800 of these today and many more on the way.  Will they be victims of their own success?  Probably.

      Meanwhile, those who are aggressive and nimble might very well be able to extract some wealth from the crypto-currencies via trading them.  Those who succumb to greed, however, and hold on too long will most likely get financially hosed.

       

    • @Ed_B
      I was specifically referencing Bitcoin as opposed to the hundreds of other Ponzi crypto coins out there,  there is a difference.  Long term PM’s will always be the better bet but bitcoin does take quite a lot of energy, time and effort to produce and is finite.

  1. Government may not be able to destroy gold, but have no delusions that government isn’t considering CONFISCATING GOLD – AND SILVER.   Of course, government can’t confiscate what they can’t find.   So hide it well, and tell no one except your executor (whoever gets your stuff should you die).

    • @Xizang

      If the government can force you to leave your stack buried next to the sewer pipe until you die, they have already won.

      What utility a person can derive from something that they must keep secret under penalty of a long prison sentence is a question that should be asked before determining the amount of one’s assets to be allocated to PM.

    • @Faranginkorat

       

      “What utility a person can derive from something that they must keep secret under penalty of a long prison sentence is a question that should be asked before determining the amount of one’s assets to be allocated to PM.”

      Agreed… but this applies to ALL other assets as well when thieving governments are on the prowl.

      In the 1930s, the US Gov blustered a lot about FDR’s EO #6102.  The order itself included penalties of up to 10 years in prison AND a $10,000 fine for violators.  That was a serious penalty, yet it was never imposed on anyone.  In those days, $10,000 was also 500 $20 gold pieces.  At today’s gold price, they would be worth over $600,000.  A hefty fine, indeed.

       

  2. No way in hell I am not going to diversify into bitcoin.  We are waiting for a new global monetary system, just like the IMF has been demanding for the last 2 years.  The current powers refuse to transition away from the failing dollar system.  OK.  Observe it, adjust and move on.  We know this system will not last forever.   Bitcoin is one option for a new system and I will have a few weeks of my labor stored in it.  Fear of what some scumbag may do does not drive my investment decisions.

    • With all respect you cannot even compare Bitcoin with gold or silver , I could compare Bitcoin

      with Zinc, Copper, Coffee. The only thing you can compare with is the marketcap. As we can see

      Bitcoin is very volitatile. Furthermore there are nearly 1000 crypto coins and more are under way.

      The technology blockchain is fantastic and will stay here for so many applications to be used for.

      Silver especially has so many usefull and needed applications globally in many different industries.

      Right now these pm markets are rigged for the simple reason that the fiat paper money printers

      (central bankers) going berserk and need with all their might control these pm markets otherwise

      their jig is up. Relaxt be right and sit tight and all pm holders will make a terrific journey to the other side

      with the coming reset. Markets can and will be closed for few months/years nobody knows. All promises

      by govt are based on fantasy and never will be paid. Only a war could clean this insane debth situation

      in the western world. Therefore they invented the fake world on terrorisme (isis=usa,israel,saudi, qatar etc). The real issue is here the western world is running out of cheap energy hence where the usa is waging war for decades in middle east. Without cheap energy you can,t be a super power.  The situation is hopeless really so take refugee in pm and speculate if one sees good set up. Don,t buy all the BS from various sites , just think for yourself and study history all that happens did happen before.

      Look at the historical intrest rate very low extreme intrest rates point to a huge reset/war and

      we are already 16 years in a global “war” against terrorisme too keep the sheeple dumb down.

       

      silverboy

       

  3. Gold, silver, dollar get most of their values from the availability of energy, in this case oil.  As oil increases in scarcity, the value of gold and silver will increase while the value of the dollar will decrease.

    That will work to the point when some innovative technology ends the need for gasoline, and we already have it with Dr.John Goodenough’s (of U of Texas) glass battery.  When implemented, it will change the world and the value of the dollar will increase, and gold and silver and oil decrease.

     

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