Bitcoin Target Price

@jmski52 said:
We have recently witnessed the destruction of money without even a single FED interest rate hike.

Except for the favored few - the stock market internals are anemic - most stocks are already in a bear market. Wait until the market sees that earnings for those favored few stocks can't support their stock prices, then you will see real capital destruction.

Can you expand on your vision? What "market internals" are anemic? What exactly do you see happening?

gold/silver is the original money. Fiat currency, one after another, is only a temporary replacement. Currencies come and go as does man's faith in each of them.

Only one form of money has actually passed the test of time. Dollars may outlast you but they will not outlast gold.

@derryb said:

@cohodk said:

So gold is not money?

Nope

Oh boy...you aint gonna make friends on this forum. Lol

dollars will outlast bitcoin, bitcoin is a bigger ponzi than are dollars.

What "market internals" are anemic? What exactly do you see happening?

On one hand, former Goldman quant/analyst Charles Nenner says that most stocks are in a bear market and that the big tech companies are the ones supporting the market and that their earnings don't support their high prices. When the Fed does stop handing out free money to their friends and keeping interest rates artificially suppressed, it's game over for the stock market. Nenner thinks that the stock market is set up for at least a 50% correction in the not too distant future.

On the other hand, Gregory Mannarino is saying that the Fed's plan is to buy it all and to become the buyer and lender of last resort for the entire economy. The Fed is a privately-owned cartel and they have zero interest in the actual economy. It's only about money and control for the Fed, and Congress is willing to be bought, so the Fed's a pernicious cycle of money creation and lending money that costs them nothing to create that helps nobody but the cartel (and their friends/puppets). Mannarino thinks that the Fed will keep inflating the market to the moon but that it will inevitably crash bigtime and that most stock market participants stand to lose almost everything. Mannarino has no timetable for this crash.

What do I see happening? I've been totally out of the stock market for a long time. I think the stock market fundamentals have been artificially supported by the Fed for over a decade and that all of this BS money creation is simply bait for unsuspecting middle class savers and investors. In that sense, I agree with Mannarino 100% although he promotes his own volatility measure as a way to gauge when to get out. I think that playing with volatility is a good way to do alot of work that gets erased in the end. It's not worth the time & trouble for most people. Better to focus on having a life.

I agree with Bill Holter that it's better to own real assets that automatically re-price themselves as the monetary cycle goes through whatever abrupt changes take place. This includes precious metals at the core, with some land and other physical assets on the side. And some cash. I don't need to speculate. Do I know what's really coming? Nope, and neither does anyone else.

@taxmad said:

@cohodk said:

So gold is not money?

It isn't anymore. It can be used for barter, but so can lead, concrete blocks and a used lawnmower...

@taxmad said:

@cohodk said:

So gold is not money?

It isn't anymore. It can be used for barter, but so can lead, concrete blocks and a used lawnmower...

Then you'll remember all the discussions on this forum about this very topic.

Its a fun exercise to go back and read the thoughts and opinions of this forum over the last 15 years on this matter. Good reading on a cold winter day.

Do not confuse "money" with "barter."

Money is the medium in which prices and values are expressed. As a currency, it circulates anonymously from person to person and country to country, thus facilitating trade, and it is the principal measure of wealth. And this is why we don't price automobiles in used lawn chairs or even gold.

@cohodk said:

If you 10 million lawnchairs wouldnt you be wealthy?

only if you had 10 million buyers.

@cohodk said:

@taxmad said:

@cohodk said:

So gold is not money?

It isn't anymore. It can be used for barter, but so can lead, concrete blocks and a used lawnmower...

In much the same way the US dollar is used?

No. The dollar in and of itself is of no use to the recipient until they engage in another transaction to exchange the dollar for something they need. Additionally, in a barter situation, a third party cannot arbitrarily change the value of the items exchanged.

@taxmad said:

The dollar in and of itself is of no use to the recipient until they engage in another transaction to exchange the dollar for something they need.

Commonly known as "passing the buck." And the only reason the recipient accepts the dollar as payment is his blind faith that it will be accepted when he goes to spend it. Keep in mind that he does accept it already knowing it will have lost some value when he flips it.

"SHTF? PMs will be useless."

Agree 100% with the above analogy

@blitzdude said:

@derryb said:
Do not confuse "money" with "barter."

Money is the medium in which prices and values are expressed. As a currency, it circulates anonymously from person to person and country to country, thus facilitating trade, and it is the principal measure of wealth. And this is why we don't price automobiles in used lawn chairs or even gold.

On my planet I barter with $$$ DOLLARS $$$ daily. RGDS!

Paying asking price with dollars is not bartering. LOL

sure, i'll play along.

@derryb said:

@blitzdude said:

@derryb said:
Do not confuse "money" with "barter."

Money is the medium in which prices and values are expressed. As a currency, it circulates anonymously from person to person and country to country, thus facilitating trade, and it is the principal measure of wealth. And this is why we don't price automobiles in used lawn chairs or even gold.

On my planet I barter with $$$ DOLLARS $$$ daily. RGDS!

Paying asking price with dollars is not bartering. LOL

Who says I pay asking price? Cash is king and MANY businesses still offer cash discounts.

@blitzdude said:

@derryb said:

@blitzdude said:

@derryb said:
Do not confuse "money" with "barter."

Money is the medium in which prices and values are expressed. As a currency, it circulates anonymously from person to person and country to country, thus facilitating trade, and it is the principal measure of wealth. And this is why we don't price automobiles in used lawn chairs or even gold.

On my planet I barter with $$$ DOLLARS $$$ daily. RGDS!

Paying asking price with dollars is not bartering. LOL

Who says I pay asking price? Cash is king and MANY businesses still offer cash discounts.

good to know that somebody is able to talk Publix and Walmart down on their prices. lol

What volatility? lol

what volatility derivatives? lol

@blitzdude said:
Buy high sell lower, way to go ace.

focus on why you are losing money while others are making money. Fix that and then you too will be an ace.

gonna start calling you the Jim Cramer of the PM forum. You've earned the title. Continue to make us proud.

@OPA said:

@derryb said:
gonna start calling you the Jim Cramer of the PM forum. You've earned the title. Continue to make us proud.

That could be a compliment. His predictions, over the years, haven't been as bad as yours.

As I have always predicted spot silver will remain volatile. And as I have always predicted it will continue to offer paper trade profits that I for one have used over the years to build a near zero cost silver stack. I remain on record that silver prices are way undervalued (premiums continue to support this) and I continue to make that claim as I continue to add to the stack.

Dolllar destruction. . . well, I rest my case.

Ethereum. . . again, I rest my case.

Blitzboy's can't see the forest for the trees. His prediction (it's actually a hope since he obviously sold all of his at a loss) is that silver will never go up, so he finds solace in attacking those who disagree.. So, you are in agreement with him? lol

I also predict he will continue to troll because he can't stand the fact that others have prospered where he has failed.

I 'm not a fan of JC, but just like derryb, he did have some good picks over the years. Priceline, that he touted about 10 years ago, was one of them

@blitzdude said:
Perhaps in another decade. or three.......your gutter will be back to break even. Stack on!!!

Stop the trolling. Stick to oats. You have no competition.

ira-financial-hacked-36-million-in-cryptocurrency-stolen

interestingly, nobody has ever hacked my bullion stack

Canaduh has just announced that their banks can shut off any accounts that they deem to be troublemakers, anything related to the trucker movement.

more reasons not to put much into fiat-based imaginary assets

@jmski52 said:
ira-financial-hacked-36-million-in-cryptocurrency-stolen

interestingly, nobody has ever hacked my bullion stack

Canaduh has just announced that their banks can shut off any accounts that they deem to be troublemakers, anything related to the trucker movement.

more reasons not to put much into fiat-based imaginary assets

You mean like a bank account? A 401K? An annuity? Social Security? Lulz!