Silver and Gold Shortage: Scotiabank’s metals business will be closed according to sources – April 29, 2020,
I’ve gone on record stating that I don’t want a gold standard, why? Because Nationalization is an accepted practice in most countries, post offices are nationalized, in Canada, our central bank is a Crown Corporation, which is a State-Owned enterprise which in my opinion, makes it basically nationalized and what I don’t want is for the Government to set the prices of Gold!
It’s bad enough governments are already manipulating the price of Gold, imagine what would happen if it’s nationalized and being that people have become accustomed to a Fiat monetary system, imagine if the Government said, ok Gold is 3000 per ounce, is that not price-fixing? Now imagine Gold mines were nationalized, in Canada we already have a diary cartel, even if there were a free market for Gold, Governments would more than likely manipulate the data which is what they were doing prior to Nixon taking America off the Gold Standard.
Lessons Everybody should learn from Bitcoin
A gold-backed currency isn’t as wonderful as people think it is, what Gold bugs should give more attention too is Bitcoin, why because on the fiat currency exchanges Bitcoin fluctuates all over the place as it should, because fiat dollars are based on manipulation and perception of central bank manipulation of the currency supply will be perceived by the general public.
Now, I’ll go on record again and say that I HATE the bitcoin wallet I hate that I can be traced using Bitcoin and I hate that Bitcoin is reliant on the Grid, however, I love that Bitcoin opened up the pandora’s box. The real question is when will the Gold community start to comprehend the new world that awaits
Scotiabank’s metals business closure could impact daily gold price discovery — analysts | kitco.com
If there’s a currency market of barter and exchange and there’s a bitcoin market of barter and exchange all which industry accepting them as payment, when will Gold and Silver start to comprehend that its value shouldn’t be tied to the fiat monetary system?
For myself, I use Gold and Silver as my savings account, I use fiat money for my day to day expenses and bitcoin, I watch primarily because governments have been rather silent on it, because let’s be honest, bitcoin similar to fiat money is a way governments all over the world can shut you and your ability to spend down!
What can’t hoarders of gold print their own money? What is this obsession with the Gold community to get Government approval for it to be a medium of exchange again? Oh, I get it, you think that a Gold-backed currency will force Austerity measures?
Oh, I get it, you think the money, not the democratic voter is causing governments to grow? So I assume you think there wasn’t a secret demand of people who can vote for leaders to take money off the Gold Standard? Oh, I hear you! but I disagree, as you’re seeing with COVID-19 a lot of people do want to be led and if you’re smart, you’d see the writing on the wall, that the key to ending central banking dominance is to do what Bitcoin did, which was to build the infrastructure that a Government is powerless to control!
Does anybody want to invest in the Petromoneda?
As an example, Venezuela has it’s own cryptocurrency any buyers? Does anybody want to invest in the Petromoneda? I hoard currencies because as it stands now that’s what I need to eat, but if an alternative option, a viable option that wasn’t reliant on the Grid came along, I’d consider it, if that option had mass appeal I’d consider it, but if the world began returning to a Gold Standard, if you really think that this move would make governments more responsible, I think you’re an idiot!
The first thing I know would happen is Nationalization of Gold Mines, all of sudden the cost to mine gold would skyrocket as Government inefficiencies, environmentalists and lazy socialists all cry foul as overnight Gold becomes the new Oil!
We all want to get rich quick, I get it, but wealth means nothing without properly constructed infrastructure. Africa has way better weather than a lot of places on earth, it’s natural beauty is a sight to behold, so why doesn’t anyone want to move there?
Why is Scotiabank closing its metal business? I think it sees what I see, a distorted metals market, that wants things to be what they’re not! Of course, metals are undervalued, but if you’re looking for Governments help, I think you’re being naive!
Scotiabank to close its metals business – sources | kitco.com
Interesting times ahead!