It’s Bubble Time!

I’m just finishing The Sale of a Lifetime by Harry S, Dent, Jr. and he certainly agrees that the economy is in for a big crash. However, he maintains that commodities, including gold and silver, will also decline - gold possibly to $400.00 an ounce. I’m interested in your thoughts on this and why you believe gold and silver will go up.

eastcats wrote:
...why you believe gold and silver will go up.

Eastcats, I may stand corrected but I don’t believe that Chris has specifically predicted gold & silver’s price increase [and when / if that might be]. He has only said that they are a store of wealth, or a hedge in times of financial distress. During those times of distress I think the emphasis is on wealth preservation [or maybe loss minimisation], rather than on wealth improvement.

watch this Mike Maloney video on deflation. At the end there is a bonus feature where they debate what could happen to gold in a deflation

Spoiler: Dent thinks gold is purely a commodity. Mike thinks it's primarily money. Personally, I believe gold does well as confidence drops and fear rises, and this will be the case in a debt-deflation crash

Oh. Boy. That’s like saying the NSA could never break into your box and watch everything you do.
Seriously. It is exactly like saying the NSA doesn’t have this power.
p2p trading is only “invulnerable” today because no organization with technical skill and international reach really cares. And in fact, if I were them, I’d be encouraging people to imagine its secure and unstoppable.
Once they start caring, and this turns into a national security issue, p2p trading ends really quickly.
Bruce Schneier is The Man when it comes to encryption and security. He’s forgotten more than you or I will ever know. This is what he said after reviewing NSA’s capabilities as they were revealed by Snowden back in 2013: The NSA also devotes considerable resources to attacking endpoint computers. This kind of thing is done by its TAO – Tailored Access Operations – group. TAO has a menu of exploits it can serve up against your computer – whether you're running Windows, Mac OS, Linux, iOS, or something else – and a variety of tricks to get them on to your computer. Your anti-virus software won't detect them, and you'd have trouble finding them even if you knew where to look. These are hacker tools designed by hackers with an essentially unlimited budget. What I took away from reading the Snowden documents was that if the NSA wants in to your computer, it's in. Period.
I've worked in the industry for a long time. I'd much rather put my faith in some little gold bars than in BTC. Then again, I'm a luddite, so maybe you should listen to Charles instead. :)
sand_puppy wrote:
And Charles--I'm opening a bit coin account.
SP and others considering bitcoin or other crypto should hold it in cold storage (ie. offline). I don't recommend keeping it on an exchange. Too many examples of things going wrong. My two cents.

Those seeking some basic information on bitcoin wallets and storage will find these articles of interest:
The idea behind cold storage is the NSA can't access devices that aren't online.
As I have noted before, when Goldman Sachs issues its own proprietary bitcoin service, the NSA's interest will be in protecting this "national asset", not banning its use. Bitcoin is too handy for the financial elites to ignore, and their interest in benefiting from BTC will set the agenda.
Just as with marijuana, eventually the state/govt sees a potential tax revenue source and all the objections melt away in a flood of new revenues. recall that brewing beer and distilling spirits was an enormous source of federal revenues prior to Prohibition, and the desperate need to renew that flood of revenue was one major reason Prohibition was repealed.
Ethereum Soars After JPMorgan, Intel, Microsoft And Others Form Blockchain Alliance…

As for the narrative that China dominates the bitcoin market–fiatleak is showing the US buying 10X more bitcoin than China. Narratives change quickly in crypto-currencies. Recall that bitcoin is legal in the US and is considered a commodity like copper or silver.