Posted on 04/10/2014 9:37:44 AM PDT by Errant
Bitcoin prices crashed today as Chinese businesses began receiving official deposit shutdown notices from banks, confirming recent suspicions of an impending crackdown. Exchanges will stop account recharging via bank accounts between now and 15th April.
Even though the news has been anticipated for over a week now, bitcoin prices sank under $403 from a high of $450.74 on the CoinDesk Bitcoin Price Index after companies began making public announcements on their sites.
(Excerpt) Read more at coindesk.com ...
"Curious what the fate of the petrodollar is? Look no farther than this Interfax update blasted moments ago by Bloomberg: "Gazprom Considers 'Symbolic' Yuan Bond Issue, Interfax Says."
It's On: Gazprom Prepares "Symbolic" Bond Issue In Chinese Yuan
Personally, even if the dollar does gets hosed, the Chinese can take their "Yaun" and stick it where the sun don't shine... I'll be switching to crypto or old American silver coins for purchases.
Btw, July 1 is a significant date for the US dollar as the full force of FATCA takes effect!
Click to be Added / Removed.
There are indications world wide that rich Chinese are trying to get $$$ out of the country by any way possible.
The gem trade in Madagascar is one way.
Bitcoin is another.
Why, we don’t know but it is clear something is going on.
I think we’re getting closer to the time when it’s going to be impossible to maintain the stability of the world’s artificial economies, even through massive debt and unlimited printing of fiat. We may even now be on the verge of a major discombobulation of the status quo. The markets are way down today as well.
Not quite yet but getting close.
The people in power who know what is going on need to find their safe place first.
If Hillary deciders not to run in 2016, I’d say that would be the big key indicator.
Clintons won’t want the blame and don’t want to work hard enough to fix it.
It’s a great buying opportunity late PM early AM.
Why Buffet is mistaken on Bitcoin, Bill Miller.
http://www.cnbc.com/id/101571751
Done
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.