Quote from: shmadz on June 04, 2014, 04:26:54 AM

Quote from: tabnloz on June 03, 2014, 11:59:04 PM

I have read though, in Rickards The Death of Money, that the gameplan of the big power blocs seems to be to drive down the price of PM's. One benefit of this is that the China's & Russia's can cheaply increase their gold holdings. Once it gets to 2.7 - 3 % of GDP, then, barring any kind of market crisis, the stage is set for the IMF to introduce SDR's which will include gold in the basket of currencies it is based on. This would significantly increase the fiat price of gold. Implicit to this is that the USD will cede its status as reserve currency.

In this case it might be gold up, bitcoin up?

sorry for barging in but I just wanted to address this part.

I agree that it appears that china, russia, many countries are buying - or foolishly trying and waiting to repatriate - gold.

but I don't think gold will save them. we don't need gold, and we don't need them.

what we need is an open and honest currency.

https://www.youtube.com/watch?v=KR3MgIPxb38

Countries might benefit more if they would invest today in BTC rather than gold, but we are quite far from there imho.
Still countries will benefit more from investing in gold today rather than investing in US treasuries.
About your "we don't need them" - I don't know what group of people this "we" refers to so I cannot comment.

Humans love gold since as far as history can see - it will not change.
Humans need an open and honest currency, and gold.