One thing is certain: if the state gets its hands on something, it is bound to fail! The return of large parts of the world to the gold standard, or at least the prospect of a gold standard, since the collateral shock of the GFC in 2008/2009, especially in the BRIC countries, shows that many people have not yet fully grasped the lesson. In view of the massive technological adaptation of artificial intelligence, robotics and the conversion of the economy to digital transfer processes, the requirements for transaction processes and collaterals are also changing. There should have been at least a two-pronged approach, which is why the announcements by Russia and China that they will also rely on blockchain technology in the future seem half-baked and misunderstood. Anyone who has the visionary power, a little bit of staying power and liquidity should do everything they can to make the Bitcoin standard a reality now, for the benefit of future generations. Gold is nice for jewelry, but has failed several times in history as a reserve asset.
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81 sats \ 1 reply \ @Coinsreporter 18 Mar
All banks know one thing for sure that they wouldn't sustain this fiat game forever.
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0 sats \ 0 replies \ @TomK OP 18 Mar
True
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21 sats \ 1 reply \ @rafaelasprilla334 20 Mar
Maybe the game won't last long for the banks
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0 sats \ 0 replies \ @TomK OP 20 Mar
As long as people accept bail-outs and bail-ins and the central bank induced inflationary theft they still have a lot of fire power.... it's sad
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21 sats \ 1 reply \ @riberet19 18 Mar
they continue to buy non-stop, despite the fact that gold is not the best safe-haven asset, at least for many, the banks continue to see it as such, and it seems that they are preparing for a catastrophe.
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0 sats \ 0 replies \ @TomK OP 18 Mar
Or it's the backing of their new settlement system
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21 sats \ 3 replies \ @fiatbad 18 Mar
"Gold is nice for jewelry, but has failed several times in history as a reserve asset."
I can't believe how apparently lost this fact is on 99% of the population. They seem to think we could simply gO BacK tO a GoLd StaNdArD.
I'll never own or buy gold.
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10 sats \ 2 replies \ @TomK OP 18 Mar
... just for jewelry
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0 sats \ 1 reply \ @fiatbad 18 Mar
Ah, good point. I might buy gold as jewelry or other utility. But not as a store-of-value. Not while Bitcoin exists.
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0 sats \ 0 replies \ @TomK OP 18 Mar
It's a 'nice to have'
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