RE:RE:RE:RE:RE:Cashless bird watchers
ValuePro wrote: Respectfully, I disagree. The more controls there are on how people receive and spend fiat money, the more will the underground economy accelerates in growth. It will be like Prohibition from 1920-1933 in the US where more people consumed more alcohol simply because it was against the law.
China is another matter. There you have people who are culturally and socially indoctrinated to accept authority. However, they are also culturally and historically great horders of gold and silver. I can't see that ending. The government want as much gold held internally as possible. Letting people hold it is cheaper than the central bank buying it to bolster reserves. Besides, what the peope hold keeps it away from other countries while also being a national asset of sorts. ...but not everyone is allowed to buy gold legally anyway. I think one has to be a member of the Communist Party, and disclose purchases. But there is the black market there too, of course - a big one, supported by the Tongs and probably the Army too.
Now there is another interesting subject regarding their economy, and who owes allegiance to whom. Did you know that their Army is an entity unto itself? They support themselves by operating their own busnesses without government supervision. This is the deal Mao made to get support from soldiers and warlords in his war against Nationalist China going into WWII. The government would leave the Army alone if the Army would leave the government alone. Here is how it is claimed that "The Chinese Army is the friend of the people", presumably because it does not answer to the government.
The point is, if the China's army wants to be a broker to the gold market in China, it will be a broker to the gold market in China, Politburo be damned.
Maybe so, VP. But it's NOT just China. South Korea, Japan , Singapore, etc are all following suit unabated. And more are following. Fast.
And with it all, wealth is growing and transferring from West to East. And so are information, cyber security, and network technologies.
The only thing the West is doing at this point is desperately trying to catch up as the social fabric disintegrates under the grand larceny and inequality of their current crumbling financial order. As the empire cycles predict.
Walk around your local mall, the schools, and any place the younger generations congregate . Just look at them. And the smart phones welded into their hands. They are the generation that feels thrown under the bus.
Are our youth going to be the ones that will fight it? Highly unlikely. They will embrace it all - voluntarily. Absolutely oblivious to government and associated system control. They don't even care.
Like the Chinese gal says in the video clip: "The government knows everything anyway, so I don't give a $hit". Lol
Eventually the only value for any gold you may hold will be for our younger generation's nose rings, teeth caps, and necklaces. That's why this transition period of the next decade or so may be gold's greatest and last hooray. Before all encompassing stability rolls in.
Then the doors will be locked shut for good. The system will no longer allow you to access our historic "store of wealth". And capitalize on it.
The crypto coin loons are at even greater risk. If needed, the network security programs will locate and quarantine their transactions similar to white blood cells destroying infections in the body. Along with the exchanges that hold your personal information. They will only exist if the government digital fiat currency systems allow it.
I don't really look forward to it all, but there are some positives. As an aging white dude living in Asia, it all appears heading our way like a bullet train.
I can accept a new "Blade Runner" economy. As long as I can prepare in advance. Luckily it's already visible. Keeping one foot in the urban, and another foot in the rural. Not really so afraid of it. All you need to be is aware of it.
Holding an ample supply of fuel for the Sportster in the meantime. And enjoying it all.
Tx