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mariusthegreat

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About mariusthegreat

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  1. Looks promising. Breaking 0.29 to 0.30 USD was important. Suppose the test is can we maintain the 0.30 USD range. If that happens then happy days :)
  2. Why are people still posting this garbage. This was debunked a LONG time ago !
  3. Heard there is a a HUGE buy wall on Bitmex, could be just some random algo but had a look and it’s very high! Not sure what to make of it to be honest..
  4. Central banks will not be buying Crypto currencies. They will create their own.
  5. Maybe... Levelling the playing field by putting all in together. Its almost akin the the Euro, but its not the Euro, its a stake in a multi functional (Sovereign) currency / asset which is used to benchmark global trade (almost Libor in operation) and it will be highly liquid - So if for example the UK goes into a recession - in this model, this should not affect global trade as say the USD - in the current model, affects foreign companies / countries due to the sheer amount dollar debt / liabilities on their balance sheets - spillovers > contagion. This is my interpretation of the Carney paper. This could be the very beginning of a global currency but NOT a global currency. There will be off-shoots i believe. To be clear I am not saying gold is worthless or useless, to the contrary it has many uses, in Electronics, pharmacy, jewellery etc. I just completely disagree with the gold standard and it appears many central bankers do to.
  6. Gold will not work. Also gold is most defintely NOT evenly distributed around the world. For example the top 10 countries countrol 80+% of all gold (That is they have it in there CB's): It has been proven historically - gold Standard is not cut out for a globalized world. After WW2 many nations were bankrupt and used most of thier gold to finance their armies, feed their populations etc. This meant that there were huge gold transfers globally (global outflows), with most of it ending up in the US. - Now the key thing to remember is that the US was not in the war at first, in fact they didnt enter until the very end (pearl harbour). So this meant that there was a lot of gold transferred to the US (Capital inflows), menaing that the US had a near on monopoly on gold and thus huge economic power over the rest of the world post WW2. "Under the gold standard, the Fed’s absorption of gold inflows exported significant deflationary pressures to the rest of the world. Europe was dependent on the recycling of capital flows by the US, which lent much of its surplus back to Europe to enable payments of war reparations and debt. Europe suffered severely when this stopped in 1928. Moreover, the increase in price levels that occurred as a result of the First World War left the global economy with too little gold in total to sustain money supply at the level consistent with full employment. Supplementing gold reserves with foreign exchange to boost money supply led to competition between the UK and the US to provide that service to other countries." - (Carney BoE 201908) Further on the US also had power over distribtion of dollars (backed by gold). This meant that the US could artificially increase and decrease the value of the dollar and gold with issuances of new dollar notes (although it was reprted to be pegged this was not the case). Further on into the 1970's the US was coming under huge pressue due to high inflation and more importantly calls on their gold stake (primrily lead by the french, who surmaised that for the amount of gold in the US vaults there were more dollars) - Thus this ended the gold standard, well Nixon ended it. "This version broke down in 1931 following Britain’s departure from gold in the face of massive gold and capital outflows. In 1933, President Franklin D. Roosevelt nationalized gold owned by private citizens and abrogated contracts in which payment was specified in gold. Between 1946 and 1971, countries operated under the Bretton Woods system. Under this further modification of the gold standard, most countries settled their international balances in U.S. dollars, but the U.S. government promised to redeem other central banks’ holdings of dollars for gold at a fixed rate of thirty-five dollars per ounce. Persistent U.S. balance-of-payments deficits steadily reduced U.S. gold reserves, however, reducing confidence in the ability of the United States to redeem its currency in gold. Finally, on August 15, 1971, President Richard M. Nixon announced that the United States would no longer redeem currency for gold. This was the final step in abandoning the gold standard." - (This time its different, Kenneth Rogoff, Carmen Reinhart, 2009) Why I state the above is this. If a nation becomes economically powerfully then gold transfers will increase to that nation (capital inflows). This in turn means that other nations will become less economically stable to complete in the said global economy (Global Inbalance(s)) (Capital outflows) due to a lack of gold in their respective central banks. This happens time and time again when a currecny is back by gold, silver etc etc. I recently read the paper presented by Mark Carney where he made a very interesting proposition, that of the basket of currencies which would be used to normalise such disruptions outlined above. “The combination of heightened economic policy uncertainty, outright protectionism and concerns that further, negative shocks could not be adequately offset because of limited policy space is exacerbating the disinflationary bias in the global economy,” - (Carney BoE 201908) This proposition leans more toward empowering monetary policy, in so, that individual nations will have much more power over inflation by use of interest rate maniplation. as outlined in his paper, the world is too dependant on the USD as a reserve / global currency and when there is an economic disturbance/noise within the US the whole world economy is at risk. Enough is enough is basically the outlier to the paper and i completely agree. "A multipolar system would reduce those spillovers and help minimize the volatility of capital flows to emerging markets. The “mainstream view” of monetary policy and the international financial system is “increasingly anachronistic,”- (Carney BoE 201908) With this new basket, countires would digitally trade in and out of the basket and thus the economies therein. If one nation is economically on a downturn this should not affect the overall rate / currecney value (liquidity) within this basket. This is not the case in USD or gold in so far as, there is not enough gold in the world for the credit system and derivative markets which power credit and vice versa. The new global order will be based on global macro output. Its a brilliant idea IMO. Leaning on Gold as a global standard is a terrible idea. I am baffled why people are stuck on gold as a store of value and wealth. The world has moved on. It is the digital age. For example, data, that is digital data, is more valuable than oil! As Carney remarked "the international financial system is “increasingly anachronistic," - Gold does not solve the problem as its use for/store of value Money is by its very essence "Anachronistic" , By using a basket of currencies each country would be bound to eachother and thus would ensure much better / equal financial market conditions, at the very least greater symmetry, Gold again does not "level the playing field" in my opinion it is the total opposite. I do not think XRP will be the currency, but I do firmly believe XRP is placed to be used to facilitate cross border payments within this new paradigm, to me that is pretty obvious. I have said many times, on here and to friends, there is no way in that countries will give up on their currencies and have rogue cryptos running wild. The world would fall apart. TL;DR: XRP will act as a bridging currency for a new financial system which will run on global stanadardized block chain. Sorry for any typos, I am at work so have to be quick etc :p
  7. Thread is as dead as the price .. Vegas is a long way off 😂
  8. It’s probably just attention seeking nonsense. I call lies and want proof ..
  9. I see BAKKT has just issued a press release confirming they are launching 23rd September. Now BTC is rising ...
  10. Bang on!! Couldn’t agree with this post anymore! Our first mover advantage has all but gone.
  11. It appears so... Why move your Crypto to an exchange? Why move 12million units to an exchange, I can only think to sell.... ? 🤨
  12. Being half Indian descent (Punjab) I have seen first hand how the caste system is truly infair in India, my family coming from "humble" beginings / being labelled Vaishyas when they are not farmers anymore?. That is where I get my observations from. The social stratification still exists there as it does in other emerging countries.
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