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China's gold back story



On 04/21/2016 02:31 PM, juan wrote:
> On Thu, 21 Apr 2016 11:30:52 -0700
> Sean Lynch <[email protected]> wrote:
> 
>> On Tue, Apr 19, 2016 at 2:32 PM, juan <[email protected]> wrote:
>>
>>> On Tue, 19 Apr 2016 03:47:38 +0000
>>> Zenaan Harkness <[email protected]> wrote:
>>>
>>>> There appears to be a multi country effort to (re)build gold
>>>> backed currencies, and there's every chance they will succeed,
>>>> certainly even in the face of crypto currencies - the robustness
>>>> and security levels of current computing facilities means
>>>> hoarding physical gold is likely seen by most, and certainly by
>>>> nations, as more secure and acceptable to the public psyche
>>>
>>>
>>>         It seems very very unlikely that any government will setup a
>>>         mechanism that destroys one their fundamental means to loot
>>>         their subjects : paper money and inflation.
>>>
>>>         Rather, what we are seeing is a move towards a fully
>>>         'electronic' system in which we won't be able to buy half a
>>>         potato without being taxed by the world government.
>>>
>>>
>> What Juan said (minus the Satoshi nonsense). ZeroHedge are notorious
>> gold bugs. 
> 
> 
> 	I am a gold bug too, if gold bug means understanding of the
> 	fact that physical cash is a decentralized and anonymous
> 	system and that gold is a particularly good form of cash.

I'm not a "gold bug". But I do own (physically possess) enough gold to
live on for a few years, even at current prices. Also silver, computer
gear and parts, some guns and ammunition, and so on. One never knows.

> 	Being truly decentralized and anonymous are not properties
> 	that any cryptocurrency has, as far as I know.
> 
> 	On the other hand, a cryptocurrency like bitcoin is threat to
> 	governments and the financial mafia, so it's reasonable to
> 	assume that the mafia is going to come up with some kind of
> 	countermeasure.

I use Bitcoin, but don't hoard it. It's a convenient way to get paid and
lease services online. And I know how to use it, as anonymously as
needed. I don't really care about the "threat" aspects. I just do my
thing, and do what it takes to be left alone.

> 	But yeah, it's also true that they've been 'developing' their
> 	own electric monies before bitcoin arrived into the scene...

Assholes do shit all the time ;)

<SNIP>