Digital or Metal backed new currency?

T

TheEnd

Well-Known Member
Just wondering.... If these so called 'Elite' really are running the show and really do want a new 'One world currency'..... Why wouldn't they install a new digital type of currency like Bitcoin instead of using the age old Gold/Silver backed currency? Surely they could control, manipulate, and tax a new digital currency far more than using PM's?

I must say I do love the new digital swipe and go system they're now using on bank cards.....Its quicker and more convenient for everyone...... Is'nt Sweden now using a full digtal currency or something similar?
 
Because it's a total load of shite.

The Chinese Yuan will eventually become the world's reserve currency.


or I might be full of shite too - who knows.
:D
 
trew said:
Because it's a total load of shite.

The Chinese Yuan will eventually become the world's reserve currency.


or I might be full of shite too - who knows.
:D
Click to expand...

Who knows? Nobody knows except those that are running the show........ I'm just not sure if I should be investing in the old money (pms) or the new money (digital currency)? Probably safest to have a bit of everything.... Cash, pms AND enough put away to buy new digital currency if it arrises.
 
trew said:
Because it's a total load of shite.

The Chinese Yuan will eventually become the world's reserve currency.


or I might be full of shite too - who knows.
:D
Click to expand...
No don't do that!! Now this guys going to start ANOTHER thread saying 'is the yuan going to be the new reserve'
 
DanielM said:
trew said:
Because it's a total load of shite.

The Chinese Yuan will eventually become the world's reserve currency.


or I might be full of shite too - who knows.
:D
Click to expand...
No don't do that!! Now this guys going to start ANOTHER thread saying 'is the yuan going to be the new reserve'
Click to expand...
Mate, it's not like the top 4 threads atm were all started by him.
 
trew said:
Because it's a total load of shite.

The Chinese Yuan will eventually become the world's reserve currency.


or I might be full of shite too - who knows.
:D
Click to expand...
:lol: Yep. I'd trust the currency that's even more manipulated than the USD.
 
col0016 said:
DanielM said:
trew said:
Because it's a total load of shite.

The Chinese Yuan will eventually become the world's reserve currency.


or I might be full of shite too - who knows.
:D
Click to expand...
No don't do that!! Now this guys going to start ANOTHER thread saying 'is the yuan going to be the new reserve'
Click to expand...
Mate, it's not like the top 4 threads atm were all started by him.
Click to expand...

Its not a competition Col....Its a forum about PM's, currencies, economies etc etc..... And I am doing my best to try and understand as much of it as possible so that I don't go down when the SHTF.....
What threads have you started lately? Anything actually worth spending time on? Anything that might help us all understand whats actually going on?
 
TheEnd said:
col0016 said:
DanielM said:
No don't do that!! Now this guys going to start ANOTHER thread saying 'is the yuan going to be the new reserve'
Click to expand...
Mate, it's not like the top 4 threads atm were all started by him.
Click to expand...

Its not a competition Col....Its a forum about PM's, currencies, economies etc etc..... And I am doing my best to try and understand as much of it as possible so that I don't go down when the SHTF.....
What threads have you started lately? Anything actually worth spending time on? Anything that might help us all understand whats actually going on?
Click to expand...
See, there is the fundamental difference between you and the rest of the forum. You believe that in order to contribute to the forum you have to start at least 10 threads per week, the rest of us just contribute to discussions within existing threads unless something new comes up that warrants it's own thread.

However, I will check what my last couple of threads that I created were for you :)

Edit: two were in the RE section about articles claiming we were about to go into a housing boom (lol).
One was about nukes going missing in the US at the same time that a Senator started suggesting that terrorists might bomb one of his cities (you would've loved that one lol).
And another one was me trolling after Abbott won the election.

Mind you those were started over several months. I read a lot more on here than I post.
 
Well I thought this thread title was VERY justified because 'what if' they do bring in a new digital currency and everyone holding PMs is left holding a stack of near worthless metals and have no other money to buy whatever digital currency it is that they install?

PM's have yet to prove there 'real value' and going buy the latest predictions from 'the bulls' there are still some very big corrections due.....

Believe me I don't want to see stackers go down in history as being wrong....... I'm just trying to understand what 'the rulers' are really up to?

We ALL have to consider these options because it just might bloody happen you know!
 
TheEnd said:
Well I thought this thread title was VERY justified because 'what if' they do bring in a new digital currency and everyone holding PMs is left holding a stack of near worthless metals and have no other money to buy whatever digital currency it is that they install?
Click to expand...
I imagine that if we were forced to move to a purely digital currency then the value of pm's would probably rocket as people tried to hold some just in case of system failures etc. The same for if ownership was ever outlawed, the value would just increase because a black market would be created.

Please don't make a new thread for every "what if" that pops into your head lol.
 
TheEnd said:
PM's have yet to prove there 'real value' and going buy the latest predictions from 'the bulls' there are still some very big corrections due.....
Click to expand...

Only because, like most folks, you're viewing precious metals in the base denominator of fiat currency.

Precious metals cannot prove their value any more than they already have - 5000 years of history cannot be expunged by a "social experiment" that has lasted slightly over 40 years.

It is that social experiment - of fiat currencies backed by nothing other than hot air and empty words that is drawing to a close here.

Unfortunately, the use of currency is so prevalent in the world today that it is difficult for many, and impossible for others to conceive of a system that operates on a different paradigm.

You can "correct" the "value" (I would substitute the term "fiat price") of precious metals in any way you want, and I really don't care either way. An ounce of gold today is worth what an ounce of gold was when Jesus walked the earth, and the same again as many years before he was born as to today. The current "price" of metals only dictates how much I can buy this week comparative to last week. At the end of the day, this social experiment will end - I cannot tell you when, other than to say it will happen when these fiat currencies do what every single fiat currency in 5000 years of history has done - that is - revalued themselves to zero.

You hear the one about a guy replicating a set of circumstances and expecting a different outcome is known as a fool?

Stop and think a moment - because this is exactly what society is doing right now - replicating a set of circumstances and expecting a different outcome.
 
In support of The End, I believe he is probably closer to the reality of what is most likely to happen than most.
I do believe that the next currency will be electronic....but it will not be traded...
The fact is that there is very little talk of gold being the next currency in the houses of parliament around the world.....but there is certainly a lot of talk about electronic money.
It would be easier to get all countries on board with no individual country having the ability to control it.
It is wrong to so easily dismiss what The End has proposed because I am yet to see all these predictions from other silver stackers coming to fruition.
Mock at your own peril. It is not a wise thing to become so fixated on an idea that you are blind to the alternatives and there are always alternatives whether we like them or not.
 
Most certainly there are alternatives.

The alternatives you refer to would be the preference of governments anywhere - it's easy to track, again, can be created out of thin air, and has no backing. It's the ideal currency to reset the system with, because, in around 40 years, give or take, we will end up where we are today, and will be tomorrow. Again, same circumstances expecting different outcomes.

I'll be the first to admit that governments will NOT want gold backed currencies, even less will they want coinage made from precious metals. They can't conjure that, and it holds them back in terms of inflating currencies and transferring wealth.

I'm hoping that when the crunch comes, the people themselves will demand something better than conjured currency.
 
I actually agree.

In the not to distant future.
Possibly a few years, I see a transition taking place.
First, a deliberate collapse of the financial system followed by a transitional period to a form of global digital currency.

You may think it would take many years to set-up. You would be correct. It has already been set-up to roll out.

It will be a micro-chip implant that basically acts as a piece of software. That software follows you everywhere you go.
It's your security.
Not only will it have your medical records, it will have all your financial records and transactions including all purchases.
It may for instance have your preferences of various brands of products that you regularly buy. Imagine going into a supermarket
and scanning the product you wish to buy. That becomes an automatic transaction when scanned by you. As in any logistics the
scan of that product will automatically relay it back to the supermarket that they have one less of the product at the same time
the warehousing will also receive the information for future stock replenishment. Just as Walmart were the first to introduce the barcode
by issuing it's suppliers an ultimatum, everything is to be barcoded or you will no longer be a supplier to us. Eventually all manufacturers
and distributors fell into line. This will be similar.

I saw a video ages ago. I think it was Verizon that showed in detail how a rfid implant chip would work in your everyday living.
It was just like a normal touchscreen computer. Ex: You want to order a Pizza home delivered. You tell it the type. It then asks you if you want certain toppings and the cost. After checking your medical records for allergies, it discovers that due to your high blood pressure the amount of calories would have an adverse affect on your dietary intake and could increase your medicare costs. It suggests something a bit more bland. After checking your account balance it then says "Sorry Mr ....... you have exceeded your daily fund limit and then suggests to book it for tomorrow". Point being. It is complete domination and control in every area of your life. This is why Obamacare is so important to have it rolled out in place that every US citizen must register.

This system will work universally provided other nations follow and they will. The UN - IMF - Worldbank -BIS, they are all in it together.
You have to collapse a corrupt monetary system first for people to despair into chaos before an even more corrupt system can be introduced.
We have seen it all before throughout history whereby a failing empire becomes more desperate towards it's last days. A new empire will emerge and I don't believe it will be China or anyone nation taking control. It will be a group of Nations or should I say the League of Nations through the UN.

One very important point I drew from Mike Maloney's videos, he will not be holding onto gold and silver for ever. There will come a point after the initial collapse that he will be buying physical hard assets with his gold and silver. I believe it will be before the transition as Governments will try to confiscate it.
That's my opinion anyway. If governments can inflict austerity and bail-ins as being justified, then everything else is not safe especially superannuation and PMs.

IMHO, this is the most amazing time in history to be witnessing a changing of the guard to see a global currency take its place under dictatorial fascist leadership. It will also be a scary time as well. Nope, nomatter whichever way I look at it, there will be great suffering.
 
tolly_67 said:
In support of The End, I believe he is probably closer to the reality of what is most likely to happen than most.
I do believe that the next currency will be electronic....but it will not be traded...
The fact is that there is very little talk of gold being the next currency in the houses of parliament around the world.....but there is certainly a lot of talk about electronic money.
It would be easier to get all countries on board with no individual country having the ability to control it.
It is wrong to so easily dismiss what The End has proposed because I am yet to see all these predictions from other silver stackers coming to fruition.
Mock at your own peril. It is not a wise thing to become so fixated on an idea that you are blind to the alternatives and there are always alternatives whether we like them or not.
Click to expand...

Thanks Tolly.... We have both recognised that there are 'alternatives' to pms and its quite possible and more than likely that it just might go that way..... The trick to holding pms will be selling them when they appreciate again but also selling them before they crash again forever after a new bubble is created...... I'm not even sure I will ever even bother investing in pms again at all now after the last few comments and after my experience of the price corrections earlier this year..

Even Ben Bernanke made the comment that Gold is just an old relic with no 'real' intrinsic value..........Sure it was fine to trade with 5000yrs ago but we now live in an electronic world where digital money could be created out of thin air on a computer like Bitcoin.
 
The times we are living in have some parallels to the 70's...we are about to enter a period of stagflation.
Gold performed well in the 70's and is behaving very much the same way now.....in the mid 70's, gold dropped nearly 50% ( from nearly $200 to just above $100 ) before it peaked out on a parabolic blow off 4 years later. We have not seen a 50% drop yet and I would not be suprised to see it down to the $1000 mark before the bull resumes.
You are right in that there will come a time, just like the 70's where you will have to sell your gold and silver because at the end of the day they are just markets. Contrary to what people might believe, gold and silver are not the white knights of the economy.
All I can suggest is to pay no attention to debt limits, q.e., money printing, paper silver, fiat, etc, etc, etc..................there is no correlation between these things and the gold and silver price....none...
Gold will shine in time.....but so too will other things at the same time
At the moment, watch the u.s. dollar......gold is still trading in an inverse relationship with the dollar...ie dollar up, gold down....but this is not written in stone, it just shows the lack of strength in gold as an investment at the moment.
The u.s. dollar is the contrarian play at the moment...ie it will suprise most people when it goes to all new highs....this has the potential to drop gold to the $1000 mark and possibly below....
When everybody throws up their hands, then it is time to buy gold.....then watch for gold to trade independantly.
 
Yes Tolly but in the 70's they did not have the technology that they do these days....Computers were the size of cars! These days new currency like Bitcoin can be created very easily.....That is why I believe we will all see something digital........... eventually.

Here's a good article about Bitcoin no where near being the new currency.. Basically it is not controlled by central banks or governments so therefore it is not a viable solution..

http://www.zdnet.com/is-bitcoin-the-future-of-money-not-a-chance-7000021814/
 
Everything evolves and currencies are not different.......so a digital currency would certainly be a consideration.
As for bitcoins, I never go in to them at all, I don't understand them.........and in truth, I am too lazy to find out about them....I still like cash.
Just in as much that I like my old home phone and I do not own, nor have I ever owned, a mobile phone. I am stuck in time unfortunately.....
 
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