₿oogaloo
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So the US wants Iran to give up its uranium. In exchange for what? A final permanent peace agreement? Security guarantees? Lifting of sanctions? That’s what I would be expecting if I was Iran.
But what is the US offering? Nothing.
The US says we will stop bombing you for a few months. Until our handlers insist that we bomb you again. Then we will bomb you again and demand something else. That way we always win and you always lose.
I hope the Iranians stand firm and use their leverage against these Epstein-class megalomaniacs.
@DBS
Re: “ People have been fighting over this real estate for AT LEAST 10,000 years, so I’m not very surprised that Netanyahu and the rest of the ZioNazis are fighting over it now.”I think this is Zionist propaganda. It is partially true, but very misleading. For most of the last 2000 years the people living in the Holy Land lived in peace. When the Umayyads took control from the Byzantines, they employed all of the Byzantine artisans to do all of the stunning mosaics in the Umayyad Mosque in Damascus — and the traces of Byzantine influence is obvious. The ruler that you paid taxes to changed, and your patron changed, but life went on as usual. The amazing Madama Map in Jordan was created in the Church of St George during the reign if the Umayyads.
What were the Crusades about? Were they fought over religion? Nonsense. Problems arose when the Muslims started restricting pilgrims access to the Holy Sites. That was the justification. But the armies the Pope sent did go simply to restore pilgrim access. They aristocratic class went for pillage and conquest, to establish their own kingdoms for their own glory. Religion was the pretext. Even then, after the conquests and counter conquests, the residents settled down, lived in peace, and paid their taxes to whoever was in charge.
In more recent times, you can see the old pre-Balfour B/W photos of the Easter celebrations in Jerusalem with the Muslims and Jews in the photos – living together in peace.
Palestinian economist Safadeen Amous insists that everyone got along then because property rights were protected. But the modern Israeli state does not respect property rights, which he claims in the root of the present troubles.
Zionism changed the dynamic. The Christians were prepared to live together in peace. The Muslims were prepared to live together in peace, but subject to the idea that Jews and Christians are subordinate to the Muslim authorities. But the Zionists, the Zionists, these are the ones with the crazy idea that the Holy Land is for them, and only for them, and everyone else must go. So they naturally promote the propaganda that Muslims, Christians and Jews have always behaved and acted that way. But that is a deceitful lie!
@Ilargi
Why the binary thinking? You don’t believe in the Uniparty? I despised Biden and Harris and was more favorably inclined to Trump based on what he promised (though I did not vote). But Trump has flipped on most of the key promises, the most important of which were ending the Russia-Ukraine War and no new overseas wars. Instead we get the Zionist war against Iran, which has nothing to do with a nuclear weapons program and everything to do with creating a genocidal ethnosupremacist apartheid state to rule over the Muslims. And we get summary executions on the high seas.Here is how I grade Trump againt his promises. On which of these do you disagree?
Bitcoin = B
End the Russia-Ukraine War = D
No new wars = F
Epstein files = D
Onshoring manufacturing = C
Economy = D (K shaped economy getting worse, not better, handing over power to the technocrats)
Immigration = C (would have been much more effective to arrest the CEOs)
DOGE = D (asking for 1.7 Trillion for the Pentagon shows that was a farce)
MAHA = C (they have targeted food rather than pharma, and now want to give glyphosate a pass)
FBI transparency = D
CIA transparency = C (Gabbard mostly sidelined)
DOJ prosecutions = D (I consider the steps against Comey, Brennan and Obama to be political theater)It was a big bait and switch.
@EoinW
Every day I check the TAE bookmark with a morbid curiosity about what outrageous PTDS claims will appear in the Debt Rattles. Note that the comments rarely engage with the Debt Rattles these days. Except to question them or to post videos that contradict them. Except for Dr D, who also seems to have a case of PTDS.I hope and pray for Ilargi’s health and the return of his critical thinking.
PTDS = Pro-Trump Derangement Syndrome
Does the genocidal apartheid state have a right to exist? Build the Ballroom!
@DrJohn: With a password like that, I’m glad the guy got his bitcoin back.
The Iranians have been very creative with the Lego videos. I would like to see them go one step further and create a role reversal satire video showing the Iranian leadership proposing a mirror to the same policy that the American/Israeli Zionist Axis proposed and tried to sell to the American people:
Iranian Leader #1: “Democracy is dead in America. Congress is weak. The courts are compromised. There is a two tier system of justice. The power of the President is as strong as it has ever been.”
Iranian Leader #2: “The military-industrial complex has a strangehold over their government. They control the media and get rich off of promoting endless war.”
Iranian Leader #1: “There is strong opposition in the USA to the current regime. Maybe we should fund the opposition party.”
Iranian Leader #2: “I have an even better idea: Let’s arm the No Kings protesters. And then let’s bomb America and encourage the No Kings protesters to rise up an overthrow the regime. We will encourage the people to take back their country.”
Iranian Leader #1: “The sabre ratlling is ratcheting up. They are planning to attack us soon. We need to attack them before they attack us. If we act now, the Americans will see us as liberators, even as we bomb their country.”
Iran Leader #2: “Yes, but we should have a say in the composition of the new government.”
Brilliant strategy? What dould go wrong? The American people would welcome this, wouldn’t they? They don’t like their government, do they? And they are tired of endless war, aren’t they?
“Bring more evils upon them, O Lord, bring more evils upon those who are glorious upon the earth.”
Isaiah 26:15
Perhaps TAE could consider teaming up with Ben Shapiro and The Daily Wire? Both platforms seem to be on the same wavelength these days.
We have seen this before. Official statements that there has been great progress in the negotiations — right up to the point we assassinate the negotiators and launch a surprise attack. The game plan is to try to lull Iran into complacency. Treachery is now official policy. Dante put assassins in the 9th Circle of Hell. God Bless America.
@Raul
I have appreciated TAE over the years. I have been reading since Nicole and Ash were also contributors. The focus has changed over the years from energy, to macroeconomics, to understanding the debt based monetary system, to COVID-19, to the Russia-Ukraine War, to Trump. What stayed consistent was that TAE tried to find voices giving well-thought out perspectives that were different from the MSM. It was always food for thought to stimulate discussion in the comments.
Recently the focus seems to have narrowed to Trump boosterism. I am fine with with that to the extent it is focused on exposing the rot of the Deep State and the corruption of the Democratic Party. Although I have not voted since 2008, there were many things Trump said that I agreed with. But surely you are aware that many of the Cabinet appointments have been disasters: Hegseth is a disgrace. Bondi did nothing. Lutnick is a grifter. “Lying Eyes” Kash Patel and his sidekick Dan Bongino accomplished nothing. Gabbard has been mostly invisible, but then lost credibility when she said that it is the President’s job to determine the intelligence consensus. Sure we now have the Comey indictment, and rumors of a future Obama indictment, but I am skeptical that this is all just political theater and will not go anywhere.
Further, MAGA has now ruptured into Zionist MAGA and Non-Zionist MAGA, and it seems TAE has taken sides with Zionist MAGA. I happen to agree with the many former Trump supporters in the alt-media (Carlson, Owens, Kelly, Napolitano, Sachs, Ritter, etc) who believe that the President has lost his way by initiating the Iran war on Israel’s behalf. So to the extent TAE debt rattles regurgitate the Zionist MAGA’s talking points, I am inclined to tune them out. Having said that, I have not given up on TAE. Hopefully this is just an aberrant phase. I have said many times before that I do not know how you maintain your sanity and still run this site.
The Debt Rattles were sub-par again, but the art and Calvin and Hobbes make the daily visit worthwhile.
Wordpress ate my post, so I re-post:
So the next steps I expect:
1. The Zionists are hell-bent on destroying Iran. Trump is beholden to them. The war will resume and escalate from here. That’s why Trump asked for the briefing on the nuclear codes.
2. The Iranians are adopting a strategy of mutually assured destruction. You destroy us, and we destroy all of the oil infrastructure in the Middle East, which destroys the global economy. Neither side is going to blink, and this is what is going to happen.
3. Iran and the Gulf states will all be destroyed. Israel will be happy.
4. The destruction of the oil infrastructure will weaken China in the short term. Trump and the neocons will be happy.
5. The US (along with its Venezuelan colony) and Russia become the major oil producing states. The US makes a fortune selling oil and gas to the UK and EU, who have no other option because they are both blinded by their hatred for Russia.
6. The global economy collapses into depression, but US has greater control over the global oil supply, and higher prices allow further shale development. On a relative basis, the US comes out ahead, or so the thinking goes.
7. China finally plays its ace: Collapse the paper gold markets and send the gold:oil ratio over 1000:1. China might not control oil, but it does control gold.
8. Either we find a new equilibruim or we escalate further into total war.
Is it just me, or has TAE become a lot more sympathetic to the Zionist agenda?
Does anyone really believe the rubbish that Iran was developing a nuclear weapon, and would have immediately used it if they had been successful? Based on what evidence? Iran hasn’t invaded another country for more than 200 years. They did not develop or use chemical weapons even after the US supplied chemical weapons precursors to Iraq that were used against the Iranians.
Does anyone really believe the rubbish that Iran is the leading state sponsor of terrorism? Terrorism by what definition? Hezbollah targets Israel, not civilians, and that is because Israel has wanted to destroy Iran for decades. The real Al Qaeda and ISIS terrorists are now aligned with the US and Isreal.
Does anyone really believe the mullahs killed 40,000 people? One day the number is 40,000. The next day the number is 70,000. But nobody wants to discuss that it was another color revolution operation fueled by outside influence.
Iran is using the game theory of mutually assured destruction, the same game theory of the cold war: If you destroy us, we all go down together — some of us kintetically, the rest economically. Makes perfect sense to me. Iran is saying to the Gulf States: Call off your dog. Because we all suffer if you do not. It is a perfectly rational thing for them to do.
Yes, Turkey committed terrible genocides against the Greeks, Kurds and Armenians. But to suggest that Gaza is not a real genocide because the Turks were even more brutal? What kind of logic is that?
In response to the note above that “80% of Iran oil goes to China. Trump has weaponized that” – I expect that if this escalates China will finally play the gold card. Yes, gold, something that TAE rarely talks about these days. For 75 years the gold to oil ratio was almost always in a tight controlled range of about 15:1. But since Covid the historical range has broken down and the ratio is now 60:1. Since the 1987 crash it has been modeled that if the USD loses reserve currency status the ratio will go to 1000:1 or higher. When gold broke out last year Treasury acknowledged that gold would go much higher. They just wanted to slow that down. China’s countermove is to speed that up. Cut off our supply of oil and we reveal the true value of those gold reserves we have been building for 25 years. A ratio of 1000:1 gives them more than enough purchasing power to offset the loss of Iranian oil. Don’t forget that gold us still the center of gravity in the economic order. And I say that as a committed Bitcoiner!
Regarding the Pinsker article : Read between the lines. The real reason for his hit piece is that Tucker Carlson and Candace Owens have started to question Zionism. That is the only litmus test that matters to Pinsker, a committed Zionist.
In his view, anyone who questions Zionism can no longer be regarded as a true “conservative” — which really turns everything upside down, because conservatives are loathe to use the U.S. military as mercenaries in the service of a foreign state.
I see that there have been more anti-Islam messages lately. I feel like this new wave is another Zionist psyop. Any meaningful discussion requires a lot of historical context and nuance. But to say that is like pissing into the wind and will never be enough to combat propaganda.
First things first: We hear over and over again that Iran is the world’s largest state-sponsored supporter of terrorism. Is it true? How many Shia attacks have there been in the US since 1979? Say what you will, but by and large, the Shia do not hijack airplanes, attack civilian targets, use cars to mow down pedestrians, dice up journalists and melt their bodies in acid, or cut off heads. It is the Sunni extremists who do things like that. Our allies. Like the newly installed President of Syria. Like the King of Saudi Arabia. The Persians, in contrast, read philosophy, write poetry, study physics, and can hold a nuanced conversation about politics or history. For centuries the largest population of the Jewish diaspora lived in Iran.
I recently read The Travels of Marco Polo. What I found striking was that there are reports of Muslims everywhere in the Far East in the Thirteenth Century. And yet no accounts that I can recall of Muslim violence. That may be because the Mongols kicked everyone’s asses and kept everyone in check. But still. No Muslim violence.
We hear about the Muslim expansion from the 7th century to the Ottomans. And yes it is true. But what about the Roman expansion? The Persian expansion? The Mongol hordes? Empires expand and conquer irrespective of religion.
Were the Crusades fought over religion? Or was that more a case of displaced aristocrats seeking fame, fortune and territory overseas under the pretext of religion? The religious element only picked up when the authorities blocked pilgrim traffic and access to the holy sites.
Between 10-15% of the Russian population is Muslim — spread out over a vast territory. Doesn’t seem to have caused much of a problem for them.
Yes, it is true that mass migration into the US and Europe has been too fast and too destabilizing. But consider the other factors: Many are displaced because of war (and are still angry about that), and they find themselves in an environment that has embraced US secular hegemony (either in residence in the home of the hegemon or its vassal states), and whose political elite always support the Zionist cause. That is a recipe for disaster.
Yes, it is also true that Islam theologically believes that it has the right to rule over others. Of course all non-Muslims reject that. But historically speaking, it’s a non-issue where Muslims remain a minority. It becomes an issue when they become a sizable part of the population. But that’s on the Western countries that have encouraged this mass migration — either because they are ignorant of history, or because they are intentionally trying to destabilize and destroy the West.
“There is no negotiation with Islam. You either resist or submit. There is no third option and never has been over 1,400 years of violent Islamic imperialism.”
There is no negotiation with the United States. You either resist or submit. There is no third option and never has been since the end of World War II. If you are not already in the US orbit, you are sanctioned economically, or attacked militarily, or targeted for a color revolution. This is the nature of American imperialism.
Wordpress is eating long posts again. I wrote a long rebuttal againt that heretic citizenx, but it disappeared, and repeated attempts to post have all been in vain. I see others are also affected. I guess only short posts and video links work consistently. BTW, I see that the TAE bitcoin address still had about $930 in unwithdrawn funds….
So I wonder if something more nefarious happened to RIM. Maybe Zelensky’s goons got to him? Maybe his final message — which oddly said nothing about his health — was misdirection, possibly coerced?
TAE started out as a collaborative effort, first with Nicole Foss and later with Ashvin (albeit briefly).
Perhaps John Day will become the next collaborator/successor?
Think of the history of the gold price. It goes nowhere for a decade or two, and then it makes a big move. In the 1970s the gold price rose from $40 to $800. That was a 20x.
Then, for the next 20 years, from 1980 to 2000, gold went nowhere. It fell to a little over $200 at “Brown’s Bottom.” Then for the next 11 years it went from a little over $200 to just shy of $2000. Not quite a 10x, but close.
Then for the next 10 years it went nowhere. From $1900+ down to around $1100+ and then back to $1900+ in 2021. Now it is on the move again. If history is any guide, I think gold continues to rise for at a decade and we get another 10x or so. A 10x from the 2015 low of $1100 would put us at $11,000. A 10x from the breakout over $1900 would put us at $19,000.
But what might make this different is that the LBMA may be losing its control over pricing, and this may have now irrevocably shifted to Shanghai. By some estimates China how has 9x as much gold as the US (and that’s assuming all the gold is in Fort Knox). Many think that the US was behind the gold price suppression. But does that make any sense? Artifically suppressing the price favors the buyer, not the seller. Perhaps the Chinese found a way to suppress price while they were accumulating, and now the hammer they can bring out in a trade war is for gold to trade at its true price.
I guess I agree with you that this time feels different. But I am not only enough to remember the bull of the 1970s. And for the bull that started around 2000, that was definitely a different era. King dollar was on top, and that was the year China joined the WTO. It seemed inconceivable that anything could ever dethrone the dollar. Even after the 2008 crisis, mainstream thought thought that is was inconceivable that the dollar system might come to an end. But gradually that has changed, and now even mainstream sources concede that this has become a real issue.
Once again I just wanted to say thanks for all you do. And to express wonder for how you manage to do it without going crazy.
Kristen Welker is the ultimate media whore. Arrogant, uninformed, aggressive, biased, hostile, and insufferable. It was painful and embarrassing to watch.
WES,
I said Fed where I should have said Treasury. Between $7 Trillion and $9 Trillion of US debt securities need to be refinanced this year. Much of that debt started out as long term debt, but cannot be refinanced as long term debt, at least not sustainably at present rates.
aspnaz,
If I am an idiot in saying that Bitcoin is hard money, I have good company. If you don’t want to take my word for it, consider Lawrence Lepard’s new book The Big Print or Lyn Alden’s book Broken Money. Lawrence Lepard was a mainstream gold bug who also discovered Bitcoin. Lyn Alden is a respected macro commentator who has written a lucid history of money, explaining how the gold based system evolved into private legder money and is now evolving into public ledger digital money. But even if you still reject Bitcoin, the point still stands that you can protect yourself as a saver if you save in a hard currency like gold. It’s not the hardest money, but it is a much better choice than government bonds or cash. Good luck to you!
WES,
I think what you say is mostly right, but I think a little off.
You are absolutely right that savers are getting screwed. You are right that the US wants to suppress interest rates. However, my understanding is that Fed is not actively selling the long term bonds on its balance sheet. Rather, a massive amount of long term bonds are expiring this year, and the Treasury is refinancing with short term bills rather than long term bonds. The Treasury would like to refinance, but not at these high rates. That is why they tried to crash the market with the tariff tantrum in April — in hopes that the stock market correction would bring down interest rates — but that did not happen. The adminsitration is also pressuring the Fed to cut rates. The Fed can do that at the short end (i.e. T-bills), but it is harder to do that at the long end (i.e. 30 year bonds). When they tried last September, long term bond rates actually went up. Even if the Fed starts cutting again, there is no assurance that long term rates will come down. They might even go up. And for good reason. Who wants to hold 30 year bonds with the deficit/debt out of control? The markets need government debt because it serves a key role as collateral in the financial system, but there is high demand for short term debt, and diminishing demand for long term debt. The Fed can try to manipulate this with yield curve control, but that will require new QE.
This is why the traditional 60-40 portfolio is slowly dying. The 40% previously allocated to bonds will now be allocated to a combination of gold and Bitcoin. That’s what Hartnett just recommended yesterday (lead article on Zero Hedge). It’s what other outside-the-mainstream forward-looking analysts like Luke Groman, Jordi Visser, Lyn Alden and Darius Dale have been recommending for a long time.
If you are a saver, you can avoid getting screwed if you save in hard money — gold or Bitcoin, or a combination of both.
It is encourarging to see signs of rapproachment between the US and Russia. It is also encouraging that the Russiagate hoax has been thoroughly debunked — at least among those of us who have been paying attention. God bless Vladimir Putin and Sergey Lavrov!
aspnaz,
Again, I am not really sure where you are going with this? What do you think is the most fair financial system? The fiat banking system, which can be manipulated by human whim, whose ledgers are not transparent, and whichhas never been audited on a system-wide basis? Or the bitcoin system, which is regulated by code, which has a fully transparent ledger that you can download and verify for yourself, and which is audited every 10 minutes? If those are your choices, which one do you choose?
You say mining is not open to everybody. But if you want, you can order a Futurebit Apollo II for $1000 and mine Bitcoin at home. It’s really just for hobbyists at this point. It is not economical, and you will probably lose money. But you can participate in the network if you want, and you might get lucky and mine a block. But what do you expect if you are starting 16 years after launch of the network and Bitcoin is already over $2 Trillion? Of course the economics were going to make it more difficult.
If you don’t want to mine, you can still participate in the network by running a node. You cannot win a block that way, but you become part of the decentralized network that verifies the ledger. Nobody can stop you.
You raise concerns about mining becoming more concentrated. But even if it is, the miners cannot control the network. Yes, in theory they can censor certain transactions in the block they mine, but they will never be able to mine all the blocks. Bitcoin is not a majority rule system.
You raise the issue that Bitcoin is not “backed” by anything. In fact it is backed by something: The energy that secures the network. Just as it requires energy to mine gold, it requires energy to mine the bitcoin. What do you think backs gold if not its scarcity and the energy to mine it? But even if you were right, money is a consensus phenomenon.
You say that Bitcoin is “just another fiat currency” – what what do you mean by “fiat” when you say that?Who decreed that people shall use Bitcoin?
You say that the government can “close down Bitcoin”. I do not think that was ever possible. Rather, the risk was that governments shut down all of the onramps and offramps linking Bitcoin to the fiat system. Yes, this was a real risk, and this could have effectively destroyed the project by pushing it to the periphery. But now it has taken root in the legacy system, so the risks of that happening are much lower today than they were a decade ago. To do that now could destabilize and threaten the legacy system, and politicians always do whatever they can to protect the legacy system. So I think Bitcoin is here to stay.
You say that China banned Bitcoin. But in fact a substantial amount of mining still takes place in China, and there is a growing number of Chinese companies that hold bitcoin on the balance sheet. You can look them up on bitcointreaturies.net
aspnaz,
Do you actually believe what you wrote? Compared to the insiders with political and business connections, the general public does not have the same access to mining concessions, the best real estate, cheap government-subsidized financing, or opportunities to invest in early stage companies. The little guy is at a huge disadvantage — if he can even participate at all.
You use the word ponzi — but what do you mean by that? A ponzi is characterized by (i) a shady operator; (ii) lack of transparency; (iii) promising returns to new investors; (iv) funding those returns by investments from new investors; and (v) the certainty that the scheme will collapse without a constant influx of new investors. What does Bitcoin have in common with any of that?
Bitcoin is decentralized — who is the shady operator?
The blockchain is a fully audited and public ledger — where is the lack of transparency?
There has never been a guaranteed return — just a hope that Bitcoin replaced fiat currency.
Bitcoin never needs to collapse — it can go up forever as fiat currencies trend to zero.Perhaps you are using the word “ponzi” interchangeably with the so-called “greater fool” theory? But these are two different things. The greater fool theory posits that you buy something with the expectation that you will be able to sell it at a higher price to someone else. But isn’t this the expectation for all investing? Everyone expects to buy something scarce and desirable in the hope that someone in the future will be willing to pay up for a scarce and desirable asset?
I really do not understand your criticism.
Phoenixvoice,
As the resident Bitcoiner, I feel a duty to at least give a few counterpoints.
Learning to drive a car was difficult at first, but then I got the hang of it.
Using email for the first time was unfamiliar, but I figured it out.
Setting up online banking was entirely new, but now it is second nature.
Opening an online brokerage was a mindblowing experience in 1997, but no big deal now.How is Bitcoin different from any of these? Even a computer illiterate like me can get comfortable with it. Yes, the first time you send an onchain transaction, your thought is “I must have screwed this up,” but practice takes away the fear. Just practice with $5 transactions until you come comfortable with it. And if you never become comfortable with it, you can still leave the Bitcoin on an exchange or buy it through an ETF.
Becoming a Bitcoiner does not mean you need to stop using cash and debit/credit cards.
Yes, the earliest adopters have become wealthy through Bitcoin. But many of them cashed out long ago. They thought they hit the jackpot when Bitcoin hit $100. There are a few out there who still hold thousands of Bitcoin. But given that there have been three major 80-90% drawdowns since 2013, most of them sold at some point and then got back in at much higher prices. At least we can say that Bitcoin is a fair system. Everyone who holds it either bought it or put in the effort to go out and mine it. That’s unlike virtually every other asset in our modern fiat financial system.
Raul does a great job on this site. I do not know how he maintains his sanity.
I think we need to have a TAE meetup in person for the oldtimers — in part to figure out who is a real person and who is a bot.
I quit Patreon and Paypal after the Canadian trucker protest fallout, so I sent you a Bitcoin payment instead. But as the future of cross border payments appears to be stablecoins (not Bitcoin, which has instead developed into savings technology), perhaps you might add stablecoin donation options too?
Get well soon!
I fully expect that the Neocons are planning a major false flag. Trump says that the US will only enter the war if Iran attacks US targets? In that case, the bastard lying devil-worshipping treasonous Neocons will need to make it look like Iran has attacked US targets.
Instead of “Persian Gulf” or “Arabian Gulf” let’s just cut to the chase and name it the “Gulf of Greater Israel”.
Beware the snake oil salesmen pushing silver. They tell you that silver should outperform gold in a bull market. But gold has outperformed silver over the last 10 years (160% vs 106%). They also tell you that gold miners should outperform gold in a bull market — but miners have gone nowhere (maybe because so many of them are hedged?)
Forget the gold:silver ratio. That only made sense when both were regarded as monetary metals. Now gold is the only monetary metal. Silver has been mostly demonetized. Central banks hold gold on their balance sheets, but not silver. Since the end of bimetalism the ratio has gotten larger and larger. Now that silver is decoming more and more demonetized, it should continue to get larger and larger.
As far as the earth crust ratio — this does not matter if people strongly prefer gold over silver (as they should). You should also consider cost of production. These days silver usually isn’t mined for its own sake. Rather, it is a byproduct of mining for other metals. Silver is the waste product that nobody really wants, but does not want to throw away either because it is still worth something.
Finally, if you think that the silver market is manipulated, why would you ever buy it? You are betting against JP Morgan, who you know is backstopped by the FED, which is in turn backstopped by a printing press? They can continue the manipulation forever.
Gold has gradually demonetized silver over the last 70 years, and on a relative basis Bitcoin will gradually demonetize gold over the next 70 years.
