29 Jan '14, 8pm

The Difference Between Gold And Bitcoin, As Explained By Elliott's Paul Singer

We hear this in every discussion about bitcoin, please explain to the class how this does not also apply to USD balances in banks and the electronic USD credit/debit system used daily by pretty much every citizen? The issue extrapolates to other fiat currencies but USD is as good a proxy for discussion as the others. Furthermore, when this "power goes out" scenario occurs explain why the most pressing issue is not the sudden starvation and death caused by the failure of modern infrastructure including heating for a vast segment of e population in no temperate areas? Finally explain how silver and gold, which are not widely distributed within the US population, will suddenly and instantly become the superior means of transaction given the massive loss of paper wealth from bank accounts disappearing leaving most without any savings, and having the available PMs concentrated ...

Full article: http://www.zerohedge.com/news/2014-01-29/difference-betwe...

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