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The future will be Cryptos, no question about it. The question is, which one will be the "Legal" one, that is yet to be seen. I am under the impression, the BRICS are setting all up to use Gold along with a Crypto Currency to transact and is not going to be Bitcoin or any of those, is going to be one issued by them. The rest of the other Cryptos will be come as good as Car Wash Tokens.
Russia’s central bank is leading efforts to shut Internet access to cryptocurrency exchange websites.
As local news outlet RBC reports Tuesday, Bank of Russia is working with the country’s general prosecutor to block all exchanges offering Russians the opportunity to buy and sell cryptocurrency.
“It’s obvious that when a pyramid (scheme) grows, interest in this pyramid hots up with the high rate of return,” first deputy of the central bank, Sergey Shvetsov, said during an international finance forum in Moscow.
Echoing previous comments, Shvetsov added that the pyramid description is a result of “eyeing Bitcoin’s price dynamics over the past two years.”
The move is the most sweeping yet from Russian authorities regarding cryptocurrency access for citizens, and echoes the less coordinated bans of various industry resources common until last year.
The debate as to how to handle cryptocurrency has raged throughout 2017 in Russia, with various high-profile entities giving conflicting views as to what the future will hold in terms of regulation.
This regulation is ostensibly due to go public by the end of the year.
In the meantime, not just private investors, but also the business sector faces “too high a risk” using cryptocurrency, Shvetsov said.
Financial instruments based on cryptocurrency are “impossible to support,” he continued, adding measures would be taken to “restrict” the ability of the Russian domestic market to interact with them.
Silver is a good move. Is severely under-priced. If you mine for AG is roughly 10 to 15 Troy Oz of Silver for each Troy Oz of Gold. So, with that in mind, the current Ratio is about 74 to 1 that is very unrealistic. If you have stocks, I will suggest to get into the Mining Sector. As soon PM takes off, so their Stocks. They are at very low prices, just like PM now days. Gold can move up, so Silver, but if the ratio goes to normal values, from the investment standpoint, Silver will make the bigger move. Let us say, that Gold go to $10,000 and apply the Historical Ratio of 10 to 1, the value will be at $1,000 per Troy Oz. If you bought Silver at $18 and some change, you will see which one made the best move. If you bought AU at current prices (around $1,351.00) and goes to $10,000 you can see the move is not as great.
If you have less cash to spare, buy AG as an Investment; if you want to Preserve Wealth, buy AU.
"Gold and equities move inversely, so if gold continues up here it's probably possible that we move more into a corrective trend in equities as gold rallies up," she said. "There's a lot here that suggest that equities are looking a little fragile under the surface, and it would be logical that you would see equities pull back a little or consolidate."
So.... if I understood this correct.
I can ride the Gold wave, cash out at the top and invest on equities?
Andy Hoffman lashing out Peter Schiff and Lynnete Zang. He is spot on the Crypto and how will play along with Precious Metals. I think, Zang is correct to an extent. Central Banks can manipulate Cryptos to a certain point; just like a Pump n' Dump Penny Stock. However, they cannot control the technology. My take, as usual, do not Bite into the Hype. Wait until the dust settles and transact with what is available.
A bit cocky I must say. However, bought Silver from his company and has been a great experience.