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covering 61 years...these are the 2 biggest idiots I have ever seen on tv and that incluses all 3 of the 3 Stooges!
What do you mean by 'gold peg' - is that different from gold backed. Many years ago US dollar was a silver certificate - you could actually go to a fed bank and turn them in for silver. I really doubt the Chinese would be stupid enough to issue a real gold peg currency. If they do, there will be lots of questions, first and foremost: do they have the physical gold reserves to really back the currency. And will you be able to exchange the paper for gold. If not, it is a meaningless sham.
Bitcoin will not be destroyed by Nation States - bitcoin is a fantasy that will evaporate on its own - there is NOTHING backing bitcoin . Bitcoin is this century's version of the Dutch Tulip bubble craze. And bitcoin is like a Ponzi scheme in that it's value only goes up as long as new suckers enter the market - and we all know Ponzi schemes do not last very long.
Bitcoin loses 30% of it's value in 2 days. You'll continue to see these kinds of events leading up to a lawsuit and shutdown of Bitcoin by establishment banks. You'll see Bitcoin destroyed by Nation States for trying to operate with sovereignty without actually being sovereign. If you've got money to burn and/or know how to gamble I can see why you'd play with Bitcoin. It will not be, however, anything more than a flash in the pan and it is symbolic of the doomed confidential banking system.
Is China getting ready to roll out the new reserve currency with a gold peg on it? And if so what kind of macro-economic effect can we expect on our European economies?
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