Why Bitcoin is doomed.

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schuylaar

Well-Known Member
sunny747 said:
Interesting story. We all know that the Federal Reserve and Central Banks manipulate currencies and commodities.
A few years ago I was trading commodities. The guys in my group were smart and they figured out that JP Morgan who issues the Silver ETF SLV had issued something to the tune of 50 times more silver than is actually on earth. As the rumor spread and silver rose with the declining dollar people began to smell a short squeeze. Silver went Ape Shit. With each passing day JPM shit their pants a little more and faced MASSIVE losses if they had to cover their position. If they did cover silver would likely have gone to $300 per ounce in my estimation. They were just days away from complete disaster.

SO rather than let the free markets reign and let the smart investors collect their fortunes over JPM's mistake the exchange raised margin requirements on silver THREE days in a row. This forces people to sell some of their holdings in turn holding down the price. Then on Sunday night when nobody but a few clerks are around watching the screens someone came in and crushed Silver prices from around $50 to around $28. It happened in a few sweeps of the screen. This was basically a fed bailout of JPM. The silver run was over, investors lost tens of millions and JPM lived to scam another day.

In my 15 years as a professional trader I learned that the entire system is rigged and manipulated to benefit the few. They say if you're sitting at the poker table and don't know who the fish is then you are the fish.

What does this have to do with bitcoin? Well we saw what happened to Sadam and Ghadaffi when they suggested trading Oil for gold rather than dollars. As soon as the powers that be feel threatened they make up some story about you and take you out. Yes, they'll let bitcoin hang out as long as it doesn't become too powerful. They'll likely use it as a case study in preparation for issuing their own digital currency.

As for silver, it will go where the bankers want it to go. They have full spectrum dominance over every market since the last crash. The key is to know where they want it to go then bet with them.
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which is why i'll never play the market again..other than a 401k in order to gain company match..<shrug> meh, why leave money on the table?

i will put it in bonds so it's virtually guaranteed* to be there when i retire.

the rest? i will throw it in my safe because it will earn more..at least i know it will be there when i get back.

thank you for your part in the sham the nearly took down a global economy!:finger:

signed the girl who stood in her companies lobby consoling the 401k rep on September 15, 2008, morning when i should have been at presidents in atlantis that year..but couldn't..the phones stopped ringing the quarter before..something surely had gone down..down the drain..

30% of my business and 15% of my 401k.

xxoo
 
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nitro harley

nitro harley

Well-Known Member
sunny747 said:
Interesting story. We all know that the Federal Reserve and Central Banks manipulate currencies and commodities.
A few years ago I was trading commodities. The guys in my group were smart and they figured out that JP Morgan who issues the Silver ETF SLV had issued something to the tune of 50 times more silver than is actually on earth. As the rumor spread and silver rose with the declining dollar people began to smell a short squeeze. Silver went Ape Shit. With each passing day JPM shit their pants a little more and faced MASSIVE losses if they had to cover their position. If they did cover silver would likely have gone to $300 per ounce in my estimation. They were just days away from complete disaster.

SO rather than let the free markets reign and let the smart investors collect their fortunes over JPM's mistake the exchange raised margin requirements on silver THREE days in a row. This forces people to sell some of their holdings in turn holding down the price. Then on Sunday night when nobody but a few clerks are around watching the screens someone came in and crushed Silver prices from around $50 to around $28. It happened in a few sweeps of the screen. This was basically a fed bailout of JPM. The silver run was over, investors lost tens of millions and JPM lived to scam another day.

In my 15 years as a professional trader I learned that the entire system is rigged and manipulated to benefit the few. They say if you're sitting at the poker table and don't know who the fish is then you are the fish.

What does this have to do with bitcoin? Well we saw what happened to Sadam and Ghadaffi when they suggested trading Oil for gold rather than dollars. As soon as the powers that be feel threatened they make up some story about you and take you out. Yes, they'll let bitcoin hang out as long as it doesn't become too powerful. They'll likely use it as a case study in preparation for issuing their own digital currency.

As for silver, it will go where the bankers want it to go. They have full spectrum dominance over every market since the last crash. The key is to know where they want it to go then bet with them.
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Hey sunny747.

Do you remember Washington Mutual =WAMU, the biggest bank failure in history? I am a stock holder and I am still waiting for the bankruptcy to come to an end. I don't know how it got swept under the rug with the media, its like there has been a media black out and it just goes to show how powerful JP morgan and the FDIC and our federal government can be.

The facts that are out says the bank was not bankrupt and the FDIC along with JP morgan pretty much just stole it to prop up JP morgans bottom line. It was a 350 billion dollar company and the FDIC sold it to JPM for as little as 1.8 billion.

Anyway its a long story and I hope the stock holders get something in the end because it wiped out a lot of working folks.

There is some good info on WIKI with a time line of events over the last 6 years. Maybe you have been following the story or know about it. Anyway they are all crooks.
 
D

dabadaba

Active Member
nitro harley said:
Hey sunny747.

Do you remember Washington Mutual =WAMU, the biggest bank failure in history? I am a stock holder and I am still waiting for the bankruptcy to come to an end. I don't know how it got swept under the rug with the media, its like there has been a media black out and it just goes to show how powerful JP morgan and the FDIC and our federal government can be.

The facts that are out says the bank was not bankrupt and the FDIC along with JP morgan pretty much just stole it to prop up JP morgans bottom line. It was a 350 billion dollar company and the FDIC sold it to JPM for as little as 1.8 billion.

Anyway its a long story and I hope the stock holders get something in the end because it wiped out a lot of working folks.

There is some good info on WIKI with a time line of events over the last 6 years. Maybe you have been following the story or know about it. Anyway they are all crooks.
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Good info I didn't realize it. I had a mortgage through WAMU sucks it went to CHASE.
Should of either let the banks go under or split them up into smaller ones if they were given bailout money.
 
nitro harley

nitro harley

Well-Known Member
dabadaba said:
Good info I didn't realize it. I had a mortgage through WAMU sucks it went to CHASE.
Should of either let the banks go under or split them up into smaller ones if they were given bailout money.
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I agree the only problem with that is JPM would of went under and WAMU would of survived imo.

I quit doing business with chase because of it.
 
S

schuylaar

Well-Known Member
nitro harley said:
Hey sunny747.

Do you remember Washington Mutual =WAMU, the biggest bank failure in history? I am a stock holder and I am still waiting for the bankruptcy to come to an end. I don't know how it got swept under the rug with the media, its like there has been a media black out and it just goes to show how powerful JP morgan and the FDIC and our federal government can be.

The facts that are out says the bank was not bankrupt and the FDIC along with JP morgan pretty much just stole it to prop up JP morgans bottom line. It was a 350 billion dollar company and the FDIC sold it to JPM for as little as 1.8 billion.

Anyway its a long story and I hope the stock holders get something in the end because it wiped out a lot of working folks.

There is some good info on WIKI with a time line of events over the last 6 years. Maybe you have been following the story or know about it. Anyway they are all crooks.
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and yet, you still play the same hand. next time nitro, just KY it after you've dropped them and before you bend over..you'll still go with the same crowd that porked up dodd-frank last xmas only to begin the very same shit we've just come out of!

man, if that's not a kick in the teeth to the average american? i don't know what the fuck is..:wall:

and nitro, you're not 'means of production' you are 'peasant'..'means' are c-corps and they don't give a rat's ass about you mr. s-corp or llc! when they talk about 'companies and businesses' they aren't talking about yours..how does that make you feel? isn't your business as important as theirs?
 
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nitro harley

nitro harley

Well-Known Member
schuylaar said:
and yet, you still play the same hand. next time nitro, just KY it after you've dropped them and before you bend over..you'll still go with the same crowd that porked up dodd-frank last xmas only to begin the very same shit we've just come out of!

man, if that's not a kick in the teeth to the average american? i don't know what the fuck is..:wall:

and nitro, you're not 'means of production' you are 'peasant'..'means' are c-corps and they don't give a rat's ass about you mr. s-corp or llc! when they talk about 'companies and businesses' they aren't talking about yours..how does that make you feel? isn't your business as important as theirs?
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Sky.

When it comes to big banks and big wall street , we beat the same drum. If I was to pick one of these fucks to go to jail it would be Jamie Diamond for starters and work down from there.
 
see4

see4

Well-Known Member
Rob Roy said:
It's imaginary money, but not as good as the Federal Reserve notes which can be used as toilet paper.
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Funny, coming from the guy who uses said toilet paper to purchase rights to use the internet that was created by the government he loves so much to bash.

Derp.
 
S

schuylaar

Well-Known Member
S

schuylaar

Well-Known Member
ttystikk said:
RUN, BERNIE, RUN! Let's see what transparent lame assed excuse they come up with to steal the election from We The People this time!
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perhaps if we started a conversation with everyone we know?

get people talking about him..they already are and it's being met with positive from constituents and media alike.

bernie, the media darling..he's 'our mr. smith goes to washington'!!!!!
 
ttystikk

ttystikk

Well-Known Member
schuylaar said:
perhaps if we started a conversation with everyone we know?

get people talking about him..they already are and it's being met with positive from constituents and media alike.

bernie, the media darling..he's 'our mr. smith goes to washington'!!!!!
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I already do. Yet, I'm swamped by the so called 'conservatives' who are, of course, anything but.
 
sunny747

sunny747

Well-Known Member
Lets not forget all the economic numbers that are rigged and or irrelevant that the feds issue and the media falls right in line and pumps the story in a clear attempt to mislead the public. For instance unemployment is say 5.5% and 200,000 new jobs created last month.. THAT"S GREAT!, RIGHT? Dig a tiny bit deeper and fin that 150,000 of those jobs were seasonal or part time paying minimum wage and dig a little more and see that never before in history have so many Americans been out of the work force. The average Amerian just walks around whistling zippidy doo dah because they heard unemployment is 5.5%. In a country where 90% of the college grads I question can't even calculate a tip on a restaurant check in their head this doesn't surprise me.

It's all rigged. Everything we see, read, watch and hear. It's all propaganda and persuasion. They say pot smokers are dumb and stupid, but I find them to be some of the most intelligent and insightful people.
 
sunny747

sunny747

Well-Known Member
How abut this shit? Sell a dime bag to a friend and end up with some serious legal issues, but if you're a bank you can launder billions in drug money and pay a 2% fine..

Bank of America, Western Union, and JP Morgan, are among the institutions allegedly involved in the drug trade. Meanwhile, HSBC has admitted its laundering role, and evaded criminal prosecution by paying a fine of almost $2 billion. The lack of imprisonment of any bankers involved is indicative of the hypocritical nature of the drug war; an individual selling a few grams of drugs can face decades in prison, while a group of people that tacitly allow -- and profit from -- the trade of tons, escape incarceration.

http://www.huffingtonpost.com/avinash-tharoor/banks-cartel-money-laundering_b_4619464.html

I'll do that alllll day long... Feds get 2% and I keep 98%? Done Deal..
 
Harrekin

Harrekin

Well-Known Member
heckler73 said:
No...it is an aggregated chart.
That ~200Mn Ozt. band is all that is used in electronics.
Coins & Bars use more. I'm actually curious about that " other industrial" category.
Just after 2003 it blew open.
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Apologies, I do come to the site quite baked.

Even so, it remains relatively consistent in the timeline provided.

And with its use as a store of value as less than 50% of overall production, industrial uses are the overwhelming consumer of silver annually.

World reserves peaked around 2005 with 570,000 metric tons and its stayed below that figure since.

Its being consumed, and there isnt an infinite supply in the ground.
 
heckler73

heckler73

Well-Known Member
Harrekin said:
And with its use as a store of value as less than 50% of overall production, industrial uses are the overwhelming consumer of silver annually.

World reserves peaked around 2005 with 570,000 metric tons and its stayed below that figure since.

It's being consumed, and there isn't an infinite supply in the ground.
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The supply doesn't need to be infinite.
Silver can be recycled from many industrial processes. It is not "consumed" in the sense you're trying to imply.
Nitric acid is an amazing substance (although, not as amazing as water).

18325925790 Ozt ? That supply is going to outlive your dreams of riches. Keep that in mind, too, and as we've seen from Hubbert's Peak, resource estimates have a tendency to change as technology and processes of extraction are developed.

That's not to say there won't be another bubble in the PM markets, but it's not going to the moon for any good reason.

OH...one other thing. In 2019 the harvesting of asteroids begins assuming NASA gets the funding it needs.
SCIENCE!!!!11@!11!11 :mrgreen:

 
S

schuylaar

Well-Known Member
ttystikk said:
Pretty much a cross between 'who is he?' and 'he'll never get anywhere near the nomination.'
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the 'who is he' crowd is non-concerning..it's those that say 'not get anywhere' that need to understand the difference between billionaire donation and constituent donation.

billionaire donation = candidate must repay favors = cycle repeats

constituent donation = candidate works for the people, owning no one.

have a 30-second 'bernie commercial' word track ready..most people can understand and recall 3 bullet points.

people need to open their wallets and toss this guy a buck or two..that's how the candidates get into trouble in the first place..they need money to advertise..if constituents won't chip in..guess who's gonna? guess who they go to? rinse. repeat.:wall:

nothing changes until you make the first change..that's how it works..motivationally and life.
 
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