The bursting of the government bond bubble has led to negative equity on the balance sheets of many central banks that have monetized government debt in recent years. Losses in the billions are simply dismissed with the words: central banks can print their money. It's not that simple! To heal this damage, it makes sense to take hard assets onto the balance sheet and inflate them in the future. The gold hype, especially in Asia and in the so-called BRICS countries, can be explained primarily by this. It is a way out of fiat debt hell. If you take a closer look at central bank policy, two examples stand out in particular: China, which has made massive gold purchases, and Poland. This is surprising, as the EU member seems to have set itself apart from the other states. But still we do not know for sure what policy will look like under the new Polish government. Is someone here preparing for a crash of the eurozone? Poland can thus defend its own currency, the zloty, in the future. Incidentally, it is Italy that has the highest per capita gold holdings and its central bank.
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Yes!
Most dont know this but the gold on the Fed Reserves balance sheet is mandated to be valued at $42.22. This is by act of Congress (Gold Reserve Act of 1934).
Congress has essentially refused to update the valuation because the theory was "this will force the Fed to keep inflation in check, otherwise we would create incentives for the Fed to create runaway inflation".
My point on the above is: Bitcoin changes this.
I think it is only a matter of time until the light-bulb clicks in Fed Reserve members minds and they see that having an ever-inflating non-debt instrument is a giant help to their balance sheet woes.
Break up this into a few paragraphs and you have a winner!
Sorry, but what do You mean?
I think you have a couple of paragraphs of information. No worries.
Ahhh, I got it. Yes, sorry, I should structure it better. Good advice
This is your work... Great language! I just broke it up.
I can hear the sports announcer voice with this.
Yeah. Much better. Thank You.
The paragraph is an aesthetic in itself. Hemingway was masterful in making simple language by paragraph. Bukowski in the 1980s, 1970s did the same.
Are You talking about my article?? You like Hem and Buk??? Man, You summarized my time at university! Lol
Gold will always be gold.
Just like how everyone wanted model a's years ago, each new generation has its own ideas.
Now muscle cars and trucks are in style. Soon they will disappear and it might be electric cars that are collectible.
Each generation brings its own ideas and what it values.
I have a growing problem with the gold guys. they are getting on my nerves more and more with their unobjective criticism of Bitcoin and their refusal to study anything new.
Some people are stuck in their ways.
At least they are investing in gold and not trusting fiat.
absolutely. but the aggressive nature that a person like Peter Schiff, for example, represents towards bitcoiners is absolutely insane. Beneath the surface, it signals to me that we bitcoiners are right, and that they know what's coming.
Didnt Peter Schiff say btc was digital gold?
Or am I thinking of the wrong person?
I think it was Larry Fink
He also said he wished he had bought it in the beginning...just like everyone else.
https://www.coindesk.com/markets/2024/03/14/gold-bug-peter-schiff-says-he-wishes-hed-bought-bitcoin-in-2010/
I try to ignore this guy
Definitely not Peter
I love the irony of the guardians of fiat holding gold in reserve.
Yea, it’s time for another correction and countries are preparing.
great reset
Great shitshow
The chief of polish national central bank was loudly speaking against liquidation of cash, some time ago. From this perspective - it's not very surprising he decided to bought some gold.
And he is in hard opposition to the new Polish government (real "war" there), and obviously they were against buying gold then.
That's inside view to clarify things (or rather: make them even more complicated ;)
"In this perspective, the increase in NBP involvement in gold can be considered as a reduction in the country's financial security. But most economists do not assess the central bank's purchases of gold so negatively. They rather indicate that it is not as important as the president of the NBP believes."
https://klubekspertow-rp-pl.translate.goog/panel-ekonomistow/art39943421-zloto-w-nbp-ekonomistow-nie-emocjonuje?_x_tr_sl=pl&_x_tr_tl=en&_x_tr_hl=pl&_x_tr_pto=wapp
the narration of media of new polish government, LOL
Incredible
When I see 1) Bitcoin halving in the news, 2) and the price of the gold coin I bought a couple of months ago increased now by +$450, I think I will remember the 2024 period as financially even more chaotic than 2020.
Recently I heard random people talking about gold. So I know that they know, and I think they know that in Bitcoin circles we know that they know hahaha. I feel a bit sad for those who don't know yet though.
Anybody, especially in the 'West' has had plenty of time to study and prepare for the next round of fiat desaster. But You're right, it's sad
Yes. Only, this is the way left.