Re: the Chart on devaluation of the Ming Dynasty 1 tael paper note: I understand the truism that paper fiat currency always devalues against the physical real value, but the funny thing here is these notes are recognized as the first paper currency in history and surviving authentic examples (which are around 600 years old and made of mulberry bark) are highly valued by collectors! Graded single examples in better condition (not using numismatic terms) can go for US$20,000 or more. How's that for holding value? 🤣 . Same goes for say, Confederate currency or rare US notes.😂 By the way, in spoken Chinese the modern term for a paper currency note or bill is still "銀 紙 幣" which literally translates as "silver paper money" even though there is of course no backing by silver or anything anymore.
Thanks No1. I think China has much more central bank gold than that. They buy a LOT of Chinese gold without fanfare. The next monetary regime can be gold-backed, like the previous one.
. . . You know when the silver buyers rent rooms in hotels in provincial Swedish towns and advertise in the local newspapers:
"We want to buy your silver!"
That actually happened back in late 1979.
The Riksbank did a study and decided not to forbid melting of Swedish coins, as only about 10% of the one crown coins in circulation were still 40% silver, so there would be no coinage crisis.
"Gold overtakes Treasuries in central-bank reserves" hence the ULTRA HEAVY MANIPULATION in the paper gold markets that translates into a SUPPRESSION OF THE REAL PRICE OF GOLD!
If Tether is buying more gold than China, why are the gold flows mostly out of the US to the Far East? Unless Tether is storing its gold in Hong Kong or China?
Re: the Chart on devaluation of the Ming Dynasty 1 tael paper note: I understand the truism that paper fiat currency always devalues against the physical real value, but the funny thing here is these notes are recognized as the first paper currency in history and surviving authentic examples (which are around 600 years old and made of mulberry bark) are highly valued by collectors! Graded single examples in better condition (not using numismatic terms) can go for US$20,000 or more. How's that for holding value? 🤣 . Same goes for say, Confederate currency or rare US notes.😂 By the way, in spoken Chinese the modern term for a paper currency note or bill is still "銀 紙 幣" which literally translates as "silver paper money" even though there is of course no backing by silver or anything anymore.
Thanks No1. I think China has much more central bank gold than that. They buy a LOT of Chinese gold without fanfare. The next monetary regime can be gold-backed, like the previous one.
Silver - the top is in! . . .
How do you know when?
. . . You know when the silver buyers rent rooms in hotels in provincial Swedish towns and advertise in the local newspapers:
"We want to buy your silver!"
That actually happened back in late 1979.
The Riksbank did a study and decided not to forbid melting of Swedish coins, as only about 10% of the one crown coins in circulation were still 40% silver, so there would be no coinage crisis.
"Gold overtakes Treasuries in central-bank reserves" hence the ULTRA HEAVY MANIPULATION in the paper gold markets that translates into a SUPPRESSION OF THE REAL PRICE OF GOLD!
Go Go CITY...
If Tether is buying more gold than China, why are the gold flows mostly out of the US to the Far East? Unless Tether is storing its gold in Hong Kong or China?
The chart number one strikes again. Charts aplenty