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What Currency Is Even More Hated Than Gold?
With the JPY's recent breakout back into its weakening trend, hedge funds are betting that this run of weakness continues. While 'economists' are less convinced that the JPY will weaken further, and even the Japanese officials somewhat jawboning the currency's stability now, futures traders have pushed 'net shorts' - bets against the JPY - to their highest since July 2007. Between the possibility of a Fed taper (stronger USD) and fading economic gains (more BoJ QQE), it would appear that Japan's $70bn per month buying program is not going to shrink anytime soon. While the world has grown accustomed in recent months to 'hating' gold - despite the ECB and BoJ rumors of more money-printing and an inevitable un-taper by the Fed - for now, the 'dislike' of the JPY has exploded.
Which brings to mind...
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The Fed will NOT tapper. They will POMO moar until the growth-machine's wheels fall off!!!
Grrrrrrrrrrrrrrr...
EVERY CB'er Fecking HATES GOLD @#^$#@^#@^@^*&& ...
What currency is hated more than gold?
Bitcoin (link)
if the CB's wanted to destroy bitcoin they could do it in minutes. so, you have to assume that, for the time being anyway, the system is, at the very least, allowing bitcoin to continue. at worst, bitcoin is an experiment they are running towards the goal of a digital international fiat currency.
Not true at all. Central Banks are totally powerless against Bitcoin the same way RIAA was powerless against Bittorrent.
Bitcoin would prove to be a very dangerous experiment for the CBs. But I can't discount the possibility that they are learning from it towards the goal you mention. There's no reason, if they were working together and wanted to, that they couldn't create a new fiat currency with a public ledger, control all points of entry and exit, and gain control over every purchase in the world in the name of "convenience".
What would cause those buying Bitcoin (not to mention the miners) to give up Bitcoin in favour of a state-sponsored digital currency? I can't think of one plausible situation where that would happen.
Gold is not a currency. It's money.
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Episode 5: The Hidden Secrets of Money (Mike Maloney) (30 min)
http://www.youtube.com/watch?v=OQWMd_NPSBA&feature=youtu.be
Nothing is more hated than Bitcoin. By bankers and fake libertarians alike.
Obligatory counterpoint:
http://www.zerohedge.com/news/2013-11-21/peter-schiff-gold-vs-bitcoin#comment-4181318
You call $70Bn/month a bond-buying program??? Let's see what Mister Yellen does once that shiny new print-o-matic gets cranking...
What I don't comprehend is how they can get away with QE when it violates the Federal Reserve Act because the Fed doesn't have authority to purchase bonds that aren't backed by the "full faith and credit" of the US Government. The constitution and the laws of the nation are being completely trammeled.
You don't comprehend it? And you just figured that the rule of law is dead in the USA? Where have you been?
The FED bailed out the banks (worldwide) to the tune of 11 trillion dollars nearly five years ago. ZH was all over that topic in 2010/11.
was there any news about this bailout? You would think if something like that was true the secretary treasury would be out there all dramatic yelling about tanks on the street and such. Unless you can reference any of this BOP I gotta call bullshit.
I hope youre joking. It is well documented.
GAO Report itself,
http://www.scribd.com/doc/60553686/GAO-Fed-Investigation
I'm in the biz BOP. if there was a financial bailout I would have heard about it. The market dropped slightly in 08/09 but that was just a natural short term correction in a long term bull market based on strong fundamentals and an expanding economy.
do i have to continue or don't you know i am fkin around yet?
Sorry...
I wonder if Thisson was just fucking around too, lol.
They are printing like crazy and yet still people are buying bonds. You can comprehend it? Why hasn't this imploded yet? When will it? Or can they just print indefinitely without consequence? It's like reality has been suspended. Mark to Market has been permanently suspended, more than 1/10th of mortgages are in arrears, and yet the losses and failure of the loans to cash-flow seems to have no consequence. Somehow, some way, reality will manifest itself. Will we all die of old age waiting for it? What's the applicable timescale?
define printing. Have you seen any checks come in the mail?
The fix is in.
I can't imagine what the fuck could possibly happen to cause the JPY to spike, but overlevered hedge funds heavily short at the bottom of the channel sure suggests something's going to make it the hot ticket. I have to think it's going to be some kind of crazy repatriation move caused by some kind of domestic catastrophe.
Not to mention that its a REAL paper currency, so the supply's probably more constrained than 'gold'.
The Japs need to grow a fuckin spine and ditch the losing team. Time to man up and take their place as the lapdog of China.
Eat my shorts.
Currency and money are two different things. Gold is money, the Yen is not.
Francis Sawyer joobux?
As long as liquidity is guaranteed, the rot can build up to unimaginable levels. What we will then have will be too grotesque even by communist standards.
The charts don't mak sense, how can net shorts be negative? They become net longs then, no? In which case isn't the currency then "liked"? Shouldn't the chart titles be net longs?
They are charts of net positions, of course. When they are negative, the short position is greater than the long. I expect JPY to explode when the Nikkei takes a dump. Then again, I've been expecting that for weeks now...
Bitcoin.
It is clear that nothing is more hated than Bitcoin. Which makes me all the more bullish on Bitcoin's future.
Who is this that "hates" gold? JPY, yes, but gold. Every CB buys it and the Chinese and Indians are wacky for it. The shiney stackable stuff is a fav around the world. The fed only hates gold when the camera is on. Can't believe this hatred for gold.
The day is approaching for a Global Cashless and digital currency system. One where with just one click of a mouse a government official can shut down your finances. No more tax cheaters, and gold will be relatively useless as any type of currency.... which the central bankers will applaud.
When they say hated, they mean "why isn't my gold worth $50,000 an ounce". Bitcoin is the new way that loser poor guys are going to change their lot in life. Preppers are the same way. They think that when the shit goes down, they will finally become rich and important in a fucked up new society.
Nope, Preppers will just live a few more weeks longer than the starving lunatics banging down doors and stealing food
Wouldn't be surprised if govt isn't now planning to use its hundreds of thousands of under utilised computers, super comptures...to start mining bitcoins....AND creating digital currencies of their own.
I think bitcoins concept is fine, though at present you would have to be quite disturbed by its regular violent fluctuations of huge magnitued....which doesn't engender confidence.
In a chaotic world where national violence might be on the agenda then it becomes more risky as it is platform dependent, whereas cash, physical assets are in your 'pocket' and don't depend access to a functioning platform, data network and electricity.
Also beware stutnex for bitcoin.
The hatred of gold stems from it being the historical and persistent king of currency & wealth - it being the antithesis of fiat and centralised power.
If gold wasn't such a valuable animal CBs right this moment wouldn't be trying to acquire it in record amounts, or control its price at all costs.