Comment by direwolf20
6 hours ago
The market can remain irrational longer than you can remain solvent. But why do you think gold has tripled in price?
6 hours ago
The market can remain irrational longer than you can remain solvent. But why do you think gold has tripled in price?
1. Mass hysteria.
2. Central banks rotating into gold to de-risk from USD combined with their usual slow bureaucratic processes. By the time they've decided that gold needs to be bought, the price has already run up by 50% and it's no longer a good idea to buy, but they still need to execute on their decisions anyway.
The USD isn't going anywhere for the simple reason that the USA can simply counterfeit any non-USD currency and there's nothing the issuer can do about it, whereas if anyone tries to counterfeit USD, they should expect a nice little missile to land inside their room no matter where they are in the world. "Reserve currency" status is entirely based on how effective the issuing entity is at taking care of counterfeiting.
North Korea is a prolific USD counterfeiter. Where are the missiles?
Digital currencies can't be counterfeit. China is cashless, so are some parts of Europe.
>Where are the missiles?
The scale doesn't seem to be large enough to warrant military action. It seems NK had mostly used it as pocket money for its embassy staff and has now stopped.
From https://en.wikipedia.org/wiki/Superdollar#North_Korea:
"The U.S. Secret Service estimates that North Korea has produced $45 million in superdollars since 1989. [...] Since 2004, the United States has frequently called for pressure against North Korea in an attempt to end the alleged distribution of supernotes. It has investigated the Bank of China, Banco Delta Asia, and Seng Heng Bank. The U.S. eventually prohibited Americans from banking with Banco Delta Asia. [...] The United States has threatened North Korea with sanctions over its alleged involvement with the supernotes, though it said those sanctions would be a separate issue from the nuclear sanctions."
>Digital currencies can't be counterfeit.
Yes they can. 51% attack.