Quote from: freshman777 on October 31, 2016, 03:20:19 PM

Quote from: iamnotback on October 31, 2016, 12:47:03 PM

I mean

With gold and Bitcoin there is a safety rule one must follow: if you don't hold it - you don't own it. A Comex bar is fine so long as it's in your hand, not in the Comex warehouse. A bitcoin is fine so long as you hold the private key, not a book entry to your name at Coinbase or other Bitcoin "vault". It appears you keep talking about paper promises, it makes your prediction of $850 gold completely useless. The kind of fool's gold you describe will be $850 one day, on its way to zero.

And you completely ignored that I wrote if gold is on a slump in price then it means the dollar is strong and thus you are not likely near to a default scenario in gold (although it is plausible that the dollar carry trade impacts the liquidity of those who back the futures markets with metal), thus you can buy the SLV or some paper instrument of the spot price, then as the price comes back up to the price of the physical metal, you can convert your gain to physical metal.

Moreover your entire thesis is brain dead tinfoil hat nonsense, because the entire point of my exposition is that physical metal will be entirely useless in a collapse scenario where society implodes into utter chaos due to abject failure of the financial systems that our just-in-time-inventory systems depend on. The reason being as I explained before that in that collapse chaos, people return to their primitive needs and eating metal is not one of them. At that point no one is willing to risk that they will be stuck holding some metal that nobody else wants, because resources are scarce and everybody is very worried about making sure they have food, guns, and medicines.

What you fail to understand mathematically (because you don't have a high enough IQ to reason about this issue in a mathematical abstraction) about efficient markets in general is they always require a market maker who has deep liquidity. Barter doesn't require a market maker, but barter is extremely inefficient because the currency is not fungible.

That is the reason that for example USA dollars were liquid in Argentina's collapse and German marks in Bosnia, because those both had market makers externally which sustained the liquid value of the currency. Whereas, the market makers in gold are the damn investment banks such as Goldman and JP Morgan who you think you are fighting by buying the metal. When chaos ensues, your local dealer can no longer use a futures contract with the Comex to hedge his purchases and sales. Why do you think mega dealer Tulving went bankrupt!

For fiat, the market makers are the banks and thus ultimately the central banks which set the reserve ratio requirements, etc..

Crypto-currency is unique because for the market makers are all of us meeting a free market on exchanges. It is an amazing breakthrough in decentralized control over liquidity while delivering a fungible unit. This is the case for as long as we are all trading non-fractional reserve units of crypto-currency.

Now that I have given you some Finance 101 education, I suggest you STFU with your nonsense, because you are showing everyone what a vindictive fool you are.

Quote from: freshman777 on October 31, 2016, 03:20:19 PM

So you made a prediction of silver price in the past but didn't act on your own prediction because reasons. I heard this story before, a couple of posts earlier. Reasons seem to get in your way all the time. Do you think you should learn to overcome reasons before you are in a position to teach others?

Listen you fucking anonymous pussy, my experience in the Philippines of carrying 800oz of physical silver in a backpack from Manila to Mindanao, meant I had to bribe the police at the airport (even I had a permit to carry it issued from the an authorized rep of central bank) and it meant I was very much in danger of getting kidnapped or robbed. There was no way I was going to bring 18,000oz to fucking Mindanao. Besides it was useless to bring it to Mindanao, because I can't sell it there. There was no courier service for shipping metal insured to fucking Mindanao. My extended family is from Mindanao and I needed to be there to have the grandmother watch the kids because the mother was AWOL.

This is indicative of the situation you will be in once a collapse ensues and you can't waltz over to your comfy local coin dealer to trade metal.

You ignorant, vindictive, pompous fool.

I had to be in the Philippines for reasons I have alluded to (and detailed in the past but I don't want to go talking about my ex in public as it is not appropriate). I told you already that a family member endangered the mutual custody of my kids and forced me back to the Philippines to prevent the loss of custody of my kids to the State. Which created a big fucking dilemma for me, of how to manage my investment priorities because I was fooled into thinking that I had to be invested in precious metals. What a crock of shit. Had it not been for that incorrect tinfoil hat delusion that I ventured into circa 2006, I would be a multi-millionaire right now simply following conservative mainstream investment practices such as bonds. By now, I would have found Armstrong and had diversified out of bonds and into dollars and US stocks (and possibly Bitcoin given I am a programmer).

STFU about my personal life. Stay on point of the issue at hand.