Quote from: BitchicksHusband on June 02, 2014, 11:47:24 PM

Quote from: zimmah on June 02, 2014, 11:21:36 PM

Quote from: BitchicksHusband on June 02, 2014, 09:43:30 PM

Quote from: Bagatell on June 02, 2014, 09:37:25 PM

Quote from: AlexGR on June 02, 2014, 09:31:24 PM

Monetary base is expanded but liquidity is siphoned out from the masses.

http://www.zerohedge.com/news/2014-06-02/ecuador-transfers-half-its-gold-reserves-goldman-sachs-exchange-liquidity

Quote

Ecuador agreed to transfer more than half its gold reserves to Goldman Sachs Group Inc. for three years as the government seeks to bolster liquidity.

The central bank said it will send 466,000 ounces of gold to Goldman Sachs, worth about $580 million at current prices, and get the same amount back three years from now.

Wow. They really haven't been paying attention very much have they.

Ecuador: Let me help you. You're never getting that gold back.

I don't think ecuador has a lot of choice, the deal is probably done by some kind of blackmail or threat

Yeah, probably. But they have to find some way to get Germany's gold back.

This situation with the German gold illustrates the massive advantage Bitcoin has over precious metals. It is way easier to take delivery of Bitcoin than of gold silver etc. When things get tough this can be critical.

My personal experience lies in comparing my dealings with both e-gold and MtGox. In both cases I got out with no loss of funds before the collapse. The difference is how I managed to get out. In the case of e-gold I had to convert my gold into CAD and take delivery of the CAD. In the case of MTGox I had to convert my CAD to BTC and take delivery of my BTC. In both cases I ended up keeping the "delivered" form of money, CAD for e-gold, BTC for MTGox.