21 million bitcoins the total supply
If I was a concerned government I could simply buy them up and sit on them forever
$60 x 21million is 1300 million bucks,
So at a cost of 1 Destroyer, I can own the entire market and sit on it forever
(The CIA would probably end up using it for black ops stuff lol)
If I was a concerned government I could simply buy them up and sit on them forever
$60 x 21million is 1300 million bucks,
So at a cost of 1 Destroyer, I can own the entire market and sit on it forever
(The CIA would probably end up using it for black ops stuff lol)
The other problem I can see is that a system created and developed by libertarians to make untraceable payments for various goods and services will be adopted by governments to make untraceable payments for goods and services
The Iran-Contra affair being a good example of how useful bitcoins could be for them
And all the hard work to get it going was done by a bunch of libertarians... lol
...or was it really libertarians who got bitcoins going...?
The originator of the scheme has never been traced
The Iran-Contra affair being a good example of how useful bitcoins could be for them
And all the hard work to get it going was done by a bunch of libertarians... lol
...or was it really libertarians who got bitcoins going...?
The originator of the scheme has never been traced
It's not really anonymous/untraceable ... I'm guessing there are ways to cover your tracks if u really are a techie etc and wanted to ... But as far as average user there is a trail ... Which is good news as far as it surviving in that government would be less inclined to try to shut it down ...
if bad guys really want to cover their trail they can do it bitcoins or not ...
will be interesting to see how it plays out long term ... Price been rebounding last few days back to 80 usd per bitcoin
if bad guys really want to cover their trail they can do it bitcoins or not ...
will be interesting to see how it plays out long term ... Price been rebounding last few days back to 80 usd per bitcoin
I'm not a believer of the gold manipulated stuff ... I mean near term yeah any market can be distorted (see tech bubbles housing bubbles etc) ... But eventually the market catches up to reality ... Gold just had alot of issues to deal with lately ... Overall market mentality that it needs QE infinity to keep going up (taper comments)... Chinese liquidity/cash crunch (authorities aren't too keen on stepping in as they want the huge shadow banking system to take a hit)... Combined with hedge fund leverage in the market ... Hedge fund performance shitty lately compared to S&P guessing gold has alot to do with that ... Overall market was just too exuberant for too long and was in need of a harsh flush out ....
Gold popping in Asia after a stronger than expected CPI outta china
now 73 bucks off the 1180 bottom ... Guessing this recent gold selloff will prove to be the best buying opportunity since early/mid 2000s ... Maybe it will make one last push lower who knows but I'm pretty confident if u buy now u will be happy years from now
now 73 bucks off the 1180 bottom ... Guessing this recent gold selloff will prove to be the best buying opportunity since early/mid 2000s ... Maybe it will make one last push lower who knows but I'm pretty confident if u buy now u will be happy years from now
Also they can look at headline UE rate, monthly job numbers etc a they want regarding health of job market ... But as far as quality of jobs it's nonsense ... Just printing for the benifits of the elite that own 90% of the equity markets ... Not helping paycheck to paycheck average joe one bit and in reality is hurting him as they propping up asset prices ... Oil now 106 ... 4 dollar gas not far around the corner
In the end all the global printing is doing is creating even greater societal inequalities that will eventually blow up on a large scale beyond just the various ME uprisings, bits of EU unrest and such we've seen since 2007
when and how it heats up on a much larger scale is anybody's guess but inevitable
when and how it heats up on a much larger scale is anybody's guess but inevitable
Yeah iag pretty hilarious nabbed some of that too recently ... I mean they are gonna be in some deep trouble if prices keep falling (divy not safe etc) but if they don't ridiculous price ....
if this is just a blip in the gold bull ... And new highs coming on down the road .... miners overall an easy triple from here ...
if this is just a blip in the gold bull ... And new highs coming on down the road .... miners overall an easy triple from here ...
Btg still my fav of the bunch ... Low cost producer that can still make money with even lower prices and could use this dip as an opportunity for expansion. ... Management (which can be shady overall in mining industry) sharp with proven track record (bema gold built from ground up bought out by big guy in 2000s) ....
jdog u still lurking?
jdog u still lurking?
comments from a hedge fund guy that names race horses quantitative easing, debase the dollar, printing press and other fun names 
----------
One of the most insightful comments explaining what happened last night, when Bernanke just killed all credibility that the economy may soon be able to stand up on its own two legs, comes from Seth Klarman who crushed the logic (or lack thereof) behind proclaiming any recovery in a world in which the only marginal factor preventing an all out collapse in the stock market and thus economy is, and continues, to be the Federal Reserve which has not only destroyed the market's discounting function, but with every passing day is taking over both the entire US economy (the Fed's balance sheet is now 25% of US GDP) and the US bond market (currently in possession of 30% of all 10 Year equivalents).
To wit:
If the economy is so fragile that the government cannot allow failure, then we are indeed close to collapse
And the rest of Klarman's sermon, serving as the perfect counter to the voodoo shamans operating their Keynesian religion in the Marriner Eccles building. From Seth Klarman of Baupost:
Is it possible that the average citizen understands our country's fiscal situation better than many of our politicians or prominent economists?
Most people seem to viscerally recognize that the absence of an immediate crisis does not mean we will not eventually face one. They are wary of believing promises by those who failed to predict previous crises in housing and in highly leveraged financial institutions.
They regard with skepticism those who don't accept that we have a debt problem, or insist that inflation will remain under control. (Indeed, they know inflation is not well under control, for they know how far the purchasing power of a dollar has dropped when they go to the supermarket or service station.)
They are pretty sure they are not getting reasonable value from the taxes they pay.
When an economist tells them that growing the nation's debt over the past 12 years from $6 trillion to $16 trillion is not a problem, and that doubling it again will still not be a problem, this simply does not compute. They know the trajectory we are on.
When politicians claim that this tax increase or that spending cut will generate trillions over the next decade, they are properly skeptical over whether anyone can truly know what will happen next year, let alone a decade or more from now.
They are wary of grand bargains that kick in years down the road, knowing that the failure to make hard decisions is how we got into today's mess. They remember that one of the basic principles of economics is scarcity, which is a powerful force in their own lives.
They know that a society's wealth is not unlimited, and that if the economy is so fragile that the government cannot allow failure, then we are indeed close to collapse. For if you must rescue everything, then ultimately you will be able to rescue nothing.
They also know that the only reason paper money, backed not by anything tangible but only a promise, has any value at all is because it is scarce. With all the printing, the credibility of our entire trust-based monetary system will be increasingly called into question.
And when you tell the populace that we can all enjoy a free lunch of extremely low interest rates, massive Fed purchases of mounting treasury issuance, trillions of dollars of expansion in the Fed's balance sheet, and huge deficits far into the future, they are highly skeptical not because they know precisely what will happen but because they are sure that no one else--even, or perhaps especially, the policymakers—does either.
----------
One of the most insightful comments explaining what happened last night, when Bernanke just killed all credibility that the economy may soon be able to stand up on its own two legs, comes from Seth Klarman who crushed the logic (or lack thereof) behind proclaiming any recovery in a world in which the only marginal factor preventing an all out collapse in the stock market and thus economy is, and continues, to be the Federal Reserve which has not only destroyed the market's discounting function, but with every passing day is taking over both the entire US economy (the Fed's balance sheet is now 25% of US GDP) and the US bond market (currently in possession of 30% of all 10 Year equivalents).
To wit:
If the economy is so fragile that the government cannot allow failure, then we are indeed close to collapse
And the rest of Klarman's sermon, serving as the perfect counter to the voodoo shamans operating their Keynesian religion in the Marriner Eccles building. From Seth Klarman of Baupost:
Is it possible that the average citizen understands our country's fiscal situation better than many of our politicians or prominent economists?
Most people seem to viscerally recognize that the absence of an immediate crisis does not mean we will not eventually face one. They are wary of believing promises by those who failed to predict previous crises in housing and in highly leveraged financial institutions.
They regard with skepticism those who don't accept that we have a debt problem, or insist that inflation will remain under control. (Indeed, they know inflation is not well under control, for they know how far the purchasing power of a dollar has dropped when they go to the supermarket or service station.)
They are pretty sure they are not getting reasonable value from the taxes they pay.
When an economist tells them that growing the nation's debt over the past 12 years from $6 trillion to $16 trillion is not a problem, and that doubling it again will still not be a problem, this simply does not compute. They know the trajectory we are on.
When politicians claim that this tax increase or that spending cut will generate trillions over the next decade, they are properly skeptical over whether anyone can truly know what will happen next year, let alone a decade or more from now.
They are wary of grand bargains that kick in years down the road, knowing that the failure to make hard decisions is how we got into today's mess. They remember that one of the basic principles of economics is scarcity, which is a powerful force in their own lives.
They know that a society's wealth is not unlimited, and that if the economy is so fragile that the government cannot allow failure, then we are indeed close to collapse. For if you must rescue everything, then ultimately you will be able to rescue nothing.
They also know that the only reason paper money, backed not by anything tangible but only a promise, has any value at all is because it is scarce. With all the printing, the credibility of our entire trust-based monetary system will be increasingly called into question.
And when you tell the populace that we can all enjoy a free lunch of extremely low interest rates, massive Fed purchases of mounting treasury issuance, trillions of dollars of expansion in the Fed's balance sheet, and huge deficits far into the future, they are highly skeptical not because they know precisely what will happen but because they are sure that no one else--even, or perhaps especially, the policymakers—does either.
IAG cost basis isnt nearly as bad as some of the other miners. they can withstand this gold selloff. i wish i had bought more of it but i dont wanna start building positions in gold stocks. i want to continue to add to my BGCP position, that IMO is the best stock on the planet right now. 750million in cash from the NASDAQ (+ the 500million in NASDAQ stock they are gonna receive over the next 15 years is just icing on the cake) just closed and their market cap is a little over 1billion, its a fu-king total joke, and the yield which is safe for a decade now is almost 8%.....
Think their "all in costs" running in the 1300 area ... But they could shut down some of their high cost operations if need be ... Also they plunked down a good chunk of change for a high cost mine not too long ago that is useless at 1200 gold ... That said if gold goes back to 1500+ it will be double digits ... If for some reason it goes sub 1000 than things get dicey .... But a great risk/reward point ... If gold bill over u lose ... If gold bull still ongoing u easily triple u money ... Insiders are buying it up heavily down here at 4
Got another bull signal out of mainstream financial news
---------
U.S. Markets closed
The Trade: Dump the Gold Miners
Breakout - 3 hrs ago
Today marks the beginning of a new segment on Breakout called "The Trade" where we don't just talk about markets, but tell you the best way to play the day's hottest stories. All opinions are my own. It isn't advice on what to do with your portfolio, your money is your own. The Trade is about explaining the facts at hand and telling you what I'd do with my personal portfolio.
Today's Trade: Market Vector's Gold Miner ETF (GDX), commonly referred to as its ticker symbol. The GDX is designed to trade in line with the fortunes of the most prominent gold mining companies in the world. Companies like Barrick Gold (ABX), Goldcorp (GG) and Newmont (NEM) are three of the largest component companies.
Now that you know what it is here's the story, as discussed with Yahoo! Finance senior columnist Michael Santoli in the attached video. The GDX is more than 5% higher today driven by a more than 2.5% rally in gold prices. The ostensible driver of the gold rally is Ben Bernanke's comments regarding the future of interest rates. As has been the case for the last 18-months, gold needs a specific catalyst to justify a rally and no excuse at all to plunge.
Which brings us to the miners.
If owning gold over the last year has been painful, being long the GDX has been so brutal it would make Torquemada squeamish. Even including today's rally the GDX has lost 47% year-to-date and more than 40% for the last 12-months.
Unlike gold itself, patient owners of the ETF have been crushed as well. Despite the precipitous decline in gold, investors in the SPDR Gold Shares ETF (GLD) have made more than 20% over the last five years. Over the same time GDX holders have lost 50%.
Sometimes the market gives investors an opportunity to gracefully exit losing positions. If you've been lugging around the GDX today is your chance to hit the sell button and look for better investments. At last count there are roughly 15,000 publicly traded companies in the world. At least 14,900 of them have better prospects than the GDX.
---------
U.S. Markets closed
The Trade: Dump the Gold Miners
Breakout - 3 hrs ago
Today marks the beginning of a new segment on Breakout called "The Trade" where we don't just talk about markets, but tell you the best way to play the day's hottest stories. All opinions are my own. It isn't advice on what to do with your portfolio, your money is your own. The Trade is about explaining the facts at hand and telling you what I'd do with my personal portfolio.
Today's Trade: Market Vector's Gold Miner ETF (GDX), commonly referred to as its ticker symbol. The GDX is designed to trade in line with the fortunes of the most prominent gold mining companies in the world. Companies like Barrick Gold (ABX), Goldcorp (GG) and Newmont (NEM) are three of the largest component companies.
Now that you know what it is here's the story, as discussed with Yahoo! Finance senior columnist Michael Santoli in the attached video. The GDX is more than 5% higher today driven by a more than 2.5% rally in gold prices. The ostensible driver of the gold rally is Ben Bernanke's comments regarding the future of interest rates. As has been the case for the last 18-months, gold needs a specific catalyst to justify a rally and no excuse at all to plunge.
Which brings us to the miners.
If owning gold over the last year has been painful, being long the GDX has been so brutal it would make Torquemada squeamish. Even including today's rally the GDX has lost 47% year-to-date and more than 40% for the last 12-months.
Unlike gold itself, patient owners of the ETF have been crushed as well. Despite the precipitous decline in gold, investors in the SPDR Gold Shares ETF (GLD) have made more than 20% over the last five years. Over the same time GDX holders have lost 50%.
Sometimes the market gives investors an opportunity to gracefully exit losing positions. If you've been lugging around the GDX today is your chance to hit the sell button and look for better investments. At last count there are roughly 15,000 publicly traded companies in the world. At least 14,900 of them have better prospects than the GDX.
