It's legit. It's not a bubble. But it's volatile. And subject to fraud risk if, for example, one of the custodians replaces their gold with painted lead. This isn't really an investment but rather an auditable way to tokenize gold. An asset-backed crypto, if you will, with the asset being gold.
This next month is going to be wild. I think they're going to smash silver down, drain the Comex, and settle in cash. This stops them from losing their ass. After that it's game on. Silvers floor is around $60 and gold I'd put around just above $4500. The market is set up for a crash and will drag everything down with it. FWIW I think tether is setting up tokenized gold.
They're shady. Crypto seems like a cult to me. They do have $24 billion in gold and have ties to Trump. Some type of token for transactional purposes does kind of make sense. I think we're in for crazy times regardless. We're facing a lot of unknowns. The dollar does not look good long term. It's all speculation at this point. All we can do is collect data points and try to position ourselves as best we can.
Agreed. I largely agree with Joe Lange's take, that we'll end up with a government-run but fully transparent asset-backed blockchain coin, probably with gold as the asset. Maybe we'll get a separate silver-backed coin in parallel. The transition will be interesting, hopefully not too chaotic.
It's already here, www.kinesis.money, gold/silver held in private institutional vaults in all major financial centers around the world backed 1:1 with bi-annual audits. You can exchange your KAU/KAG for physical and they'll ship it to you anywhere in the world. No fees for storage and the fee to spend is not 3% but .45%. fyi just in case.
I've read recently that gold, like diamonds, is not as rare as we have been told. I'm wondering if a gold dump is coming?
The more expensive gold gets, the more mining happens, then the less expensive it gets
Fun Fact: 220,000 tonnes is the total gold mined (the gold that exist on surface) in history.
You could say the same for silver, but do you know how long it takes to get a mine up and running? Let alone scouting for sites
The rarity factor of Gold is not the key determinant of Golds value. Many elements are more rare than Gold yet not a valuable.
metals always have dumped steeply.
Almost like someone doesn't want you to buy any... 🤔
Maybe🤷♀️. But I also think there could be some truth to it, recognizing what has been done to inflate the value of other "valuable" commodities.
If true , to what advantage would anyone have to expose it ?
And if a single holder had most of it there will be extreme advantage in protecting that information.
Is this legit or another bubble?
It's legit. It's not a bubble. But it's volatile. And subject to fraud risk if, for example, one of the custodians replaces their gold with painted lead. This isn't really an investment but rather an auditable way to tokenize gold. An asset-backed crypto, if you will, with the asset being gold.
This next month is going to be wild. I think they're going to smash silver down, drain the Comex, and settle in cash. This stops them from losing their ass. After that it's game on. Silvers floor is around $60 and gold I'd put around just above $4500. The market is set up for a crash and will drag everything down with it. FWIW I think tether is setting up tokenized gold.
I'm leery of tether. Wasn't tether guilty of selling Bitcoin on margin, and creating undisclosed counterparty risk?
They're shady. Crypto seems like a cult to me. They do have $24 billion in gold and have ties to Trump. Some type of token for transactional purposes does kind of make sense. I think we're in for crazy times regardless. We're facing a lot of unknowns. The dollar does not look good long term. It's all speculation at this point. All we can do is collect data points and try to position ourselves as best we can.
Agreed. I largely agree with Joe Lange's take, that we'll end up with a government-run but fully transparent asset-backed blockchain coin, probably with gold as the asset. Maybe we'll get a separate silver-backed coin in parallel. The transition will be interesting, hopefully not too chaotic.
Hmmm, guess I'll stick with stacking.
It's already here, www.kinesis.money, gold/silver held in private institutional vaults in all major financial centers around the world backed 1:1 with bi-annual audits. You can exchange your KAU/KAG for physical and they'll ship it to you anywhere in the world. No fees for storage and the fee to spend is not 3% but .45%. fyi just in case.
It’s called Bitcoin.