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RE: There will come a time when the "Horse Dung" Paper Derivative Contracts are rendered worthless..!!
Quite agree Stephen mate. Although I don't really like the idea of central banks for any reason, except perhaps as a page in a history book.
Cheers Dylan. Took me nearly all day to type. Just wanted to get it off my chest. I think we are all about to see something pretty catastrophic in the Markets soon. Stephen
I completely agree with your assessment that there is going to be big crash coming in the very near future. People's debt is at an all time low, massive money printing is not doing what they hoped and is just pouring fuel on the fire as more money creation means more debt. Yes it will get uggly.
The fact is that the collapse is already happening though. Like you mentioned we don't have to look at the crypto market as going up as much as the fact that the fiat currencies are loosing value.
There is only one thing backing the value of fiat today. This is the belief of the people and the military strength of your country..
US for example is loosing power in both ends. As you say china is taking over as the super power.
The only thing I say which didn't play out as China had planned and that might hinder them in taking over power is the development of crypto. As you say they have spent emmense amount of money and energy on moving the gold from the west to the east.
If gold had the same position as 10 years ago I would see them being an absolute power house right now. But the fact is that cryptocurrency have changed the economic playing field.
Why mine gold when you can mine bitcoin ? Will it be necessary to back the crypto with gold and silver.. these are questions which I am not so sure about. Also if China now is banning trading of cryptocurrency and thus not really adopting it, how will they be able to secure the place as the number one economy in the world ?