there’s no denying some people have made money in it! The digital currency has jumped to over $1,000 in value; only a few months ago, it wasn’t worth much more than any other coin in your pocket! It seems this rally in the Bitcoin has taken place in tandem with the rise in US stocks and the fall in gold, which are both symptoms of loose Federal Reserve policy.
source url Is the BitCoin a currency we can count on in a crisis? I don’t think so–indeed, a Zurich Insurance analyst is worried about a major cyber-attack in the not-too-distant future. The only question seems to be when and by whom? When such an event occurs (one would hope for not a very long time!), would a coin that exists only in the digital realm do us much good when we are trying to buy a loaf of bread or a gallon of gas when our computers and networks are down for weeks or months?
source Yet, I still
think it’s a fad that is going to implode one of these days. Funny how the
US Congress seems to have a fascination with it right now, though! Why
not be fascinated with it when the same US Congress has authorized
nearly $18,000,000,000,000 ($18 TRILLION) in spending beyond our means!
….and that doesn’t count all of the state and local debt as well as
unfunded taxpayer liabilities for Social Security, Medicare, Medicaid
source link You might recall that last year, our Federal government was
toying with the idea of creating a $1 trillion platinum coin to help pay
off our debts? I am sure they would like to see the Bitcoin succeed
because it would create the idea that the feds could do the same! Create
a new coin or currency and pay off all your bad debts! How simple!
http://bullcitycraft.com/milnica/5600 Indeed, I
think the media and our US politicos are trying to paint a rosy picture
of a fictitious coin that exists only in cyberspace….if only to
deflect our focus away from the US currency and interest in GOLD.
sites de rencontres en polynГ©sie franГ§aise Meanwhile,
China, Russia and India continue to gobble up GOLD on the open
markets…China is building its gold reserves for the day that the Yuan
currency becomes a freely traded currency and is added to the dollar
basket reserve pool
follow link Right now, $DXY (the dollar index often
called “the Dixie”) is made up of a basket of 6 reserve currencies,
those being the Yen, the British Pound, the Swedish Krona, the Swiss
franc, the Euro, and the Australian dollar. When the Chinese Yuan is
added to that basket within probably the next 3 years, watch out for the
if BitCoins become more popular with the general public, I believe the
countries with low debt and government issued currencies will put great
restrictions on a currency they cannot control. It is said that many
buyers are wealthy Chinese citizens and they see it as a way to move
their wealth out of a country where the government has a tight grip on
how much citizens can export.
site rencontre comme adopteunmec As for Bitcoins, who knows? They say that a currency
derives part of its value from PERCEPTIONS of the public….if the
public believes in it, then it can be a valid currency. But it would be
the world’s first currency without a base of productive growth of a
country, namely GDP. One reason the US dollar has been the world’s main reserve currency for many years is that US GDP has been most dominant during this time.
mujeres solteras de funza Now, you could say the same for gold in that countries do not issue gold, but gold is
held in the vaults of many countries as a store of value and countries such as the US, Canada, Australia, the UK, Mexico and China do issue gold coins….the same
can’t be said for Bitcoins.
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