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Buiter sat on the BoE's monetary policy committee when Gordon Brown sold half the UK gold reserves from 1999-2002, so you know this guy totally knows what the fuck he's talking about.
RT: https://shitpost.cloud/objects/63ee4789-4d84-4136-93e2-b5e09d846b26
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Retardation. Gold went on a huge run afterwards.
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@Hoss
Why did he sell the gold during that window?
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Huge bull signal that he's recommending central banks to sell gold at $4k. My 5k by summer prediction might be undershooting it.
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@Hoss so he is a professional retard lol
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Metals have held up well, crypto ate shit because it's strongly correlated with the S&P.
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@Hoss If there wasn't obvious market manipulation, I'd say that 100% tariffs on china Nov first, would mean 5k is soon.
But, metals and crypto down at the news? Clearly there is large scale tampering.
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@Hoss @hazlin tbh retardmode volatility is the main draw of crypto, just be smart enough to take profits and play with the house's money
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Crypto is practically married to the tech sector at this point.
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@Hoss
> it's strongly correlated with the S&P
That makes zero sense to me. But, I guess if enough people believe that, then it is true.
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@hazlin @Hoss When the financial whales got involved in bitcoin it began observing the same trends as all the other assets held by the same institutions. If something shakes and they start liquidating everything goes the same direction.
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The dollar entered its final tailspin when we froze and seized Russia's foreign reserves. That got China, India and other non-NATO aligned powers holding Treasuries and dollars raising their eyebrows.
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@Hoss @hazlin I think the funniest part of the crypto dip yesterday was all the people who leveraged their crypto getting liquidated. Imagine having all your life savings be all in on leveraged crypto.
At this point I trust shiny rock a lot more than I trust whatever is happening in the AI bubble where they're effectively reinvesting in each other in some infinite loop. Fiat currency just looks like it's purely being propped only by AI at this point. When this turbo bubble blows I don't even know what we're going to see as an end result.
We're in a when the world dedollarizes situation at this point, and then all of america's true inflation will flood back into america. No longer being able to continue to make other countries eat the inflation of their money printer.
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Larry Fink doing a 180 on Bitcoin in the span of a few years should've drawn more concern than it did.
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@john_darksoul @Hoss that makes a lot of sense. The dynamics are being imposed.