RE: Frustration of another investor!16 Aug 2018 10:56
Tibbs! For some years now on this board i have said that the international currency system and the speculative markets surrounding them which a prone to manipulation, as you say, are not the greatest system of running the world's finances.
However, I have also said that changing such a system is notoriously difficult, and we are probably stuck with it for the near and probably medium future. When it does change, the USA are likely to be in for a nasty shock as all the dollars come home, and the impact of that on the world economy could be quite scary.
The gold standard is not necessarily a better system, and there is some doubt as to whether it ever really worked in the way suggested. The dominance of the UK economy in 19th century led some economic historians to argue we were really on the sterling standard. The 1920s and 30s were a difficult period where we effectively passed the baton over the USA starting with the Breton Woods Agreement and the dollar dominated the system.
Whatever his good intentions, it is highly unlikely that Andrew Maguire or a blockchain and gold based cryptocurrency can resolve the problems of the world economy. If your conspiracy theories are right, you should ask yourself whether a Russian and Chinese based conspiracy would be an improvement, because this seems the most likely alternative.
The price of gold is not something i ever attempt to forecast, and I just build the uncertainty about its future movements into my decisions. Sometimes I'm lucky, sometimes I'm not. Recently I have avoided a large loss on CEY, but in the past I have not been so lucky.
Either way, we are all armchair speculators on this board, hoping to gain from the vagaries of the market and what we fondly imagine to be our own good judgement.. I don't think that puts us in a strong moral position to complain about the system, however iniquitous it may be.
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