dChan
Anonymous ID: e9d045 Nov. 14, 2024, 7:50 a.m. No.21983518   🗄️.is 🔗kun   >>3543

>>21983434 PB

>>discussed once gold standard basket and btc being part of that with some parity worked out for btc itself, oil, silver etc

 

Possibly so. It is game theory playing itself out. The problem with Fed Wire is that it can not be audited. Ron Paul has been pushing for an audit of the Fed for years. Bitcoin is fully transparent and can be audited by anyone. This is a property you want in a fixed money supply. Backing the US Dollar with Bitcoin or a basket of assets is the only way to save it. Anything else it just another rendition of fiat.

Anonymous ID: e9d045 Nov. 14, 2024, 7:59 a.m. No.21983548   🗄️.is 🔗kun   >>3551 >>3562 >>3576 >>3591

>>21983487

>>No, it’s a way to track all your spending

 

And that's WHY you want it as the standard for monetary policy anon. It can be verified. China has untold amounts of lead bricks plated in gold which it then issues loans out, backed by nothing. It's fake. Counterfeit and can't be audited. So if we were to go to a gold standard, you would have nations counterfeiting their reported gold assets, like they already do, and then propping up their economy on nothing but thin air, like we have now.

 

Bitcoin is transparent. This is a requirement if you are going to have a money that becomes the backbone of the US financial system. You might not like it for your personal freedom.

 

>>21983487

>>No, it’s a way to track all your spending

 

And that's WHY you want it as the standard for monetary policy anon. It can be verified. China has untold amounts of lead bricks plated in gold which it then issues loans out, backed by nothing. It's fake. Counterfeit and can't be audited. So if we were to go to a gold standard, you would have nations counterfeiting their reported gold assets, like they already do, and then propping up their economy on nothing but thin air, like we have now.

Anonymous ID: e9d045 Nov. 14, 2024, 8:05 a.m. No.21983576   🗄️.is 🔗kun

>>21983548

China's biggest gold fraud, 4% of its reserves may be fake

 

China is at the centre of the discovery of what may be one of the biggest gold counterfeiting scandal in recent history.

 

According to a report in Zero Hedge, not only does it involve China, but it emerges from a city that has become synonymous for all that is scandalous about China: Wuhan.

 

The 83 tons of purportedly pure gold stored in creditors' coffers by Kingold as of June, backing the 16 billion yuan of loans, would be equivalent to 22 per cent of China's annual gold production and 4.2 per cent of the state gold reserve as of 2019.

 

In short, more than 4 per cent of China's official gold reserves may be fake. And this assume that no other Chinese gold producers and jewelry makers are engaging in similar fraud, the report said.

 

https://economictimes.indiatimes.com/news/international/world-news/chinas-biggest-gold-fraud-4-of-its-reserves-may-be-fake-report/articleshow/76707339.cms

 

You don't want gold as the standard for the new US Dollar. Or else we will get back to where we already are. It can't be audited. It can be forged. It can still be mined. Do (you) really want to TRUST that the Chinese Government has the gold they say they do? You need something that is transparent, can be audited and can not be inflated. If you have any asset other than Bitcoin, anon is all ears.