/biz/ - Business & Finance

>>30309202
>The dollar system has been a system of slavery which has allowed America to consume the fruits of the rest of the world's industry at the rest of the world's expense. This economic injustice will soon be righted when the rest of mankind completes Gaddafi's mission and dumps the dollar and returns to gold. Oppressed nations which were formerly third-world and second-world will become first-world, and vice versa.
>>>/pol/
We only talk about finances here. Not ideology.
>Gold did its job correctly. The U. S. spent too much on extravagant social programmes and wars which it couldn't afford
Wrong. Again, if gold was doing its job correctly, the US could have just experienced a short term minor liquidation to buy up the gold reserves and keep the country's economy healthy. The economy went to shit after the 50s and 60s, not before.
They couldn't, because a paper derivative system backed by gold can't overcome the inherent massive liquidity issues that gold has. Again, the US had the largest gold reserves in the world and still couldn't find enough gold out there to back their currency.
If gold was liquid enough, they could have, but instead, banks hoarded it and scalped the economies that needed it.
This potential situation is the same situation that gold bugs criticize bitcoin for, yet they don't realize that gold also failed to maintain liquidity when banks hoarded their gold in the 70s. Bitcoin is far more liquid and transferable than gold, so bitcoin even plays the role of gold better than gold does.

>>28228592
The fucking short squeeze is coming. Buckle up, you're going to see some shit.

>>28215288
>even if it is manipulated I think it will have the same effect as if it wasn't.
Pretty much.