Comment on China Said The Quiet Part Out Loud. by rick

Parent Post: China Said The Quiet Part Out Loud. · In Reply To

rick · 3/30/2026, 2:42:19 PM · permalink

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hyokkim · 3/30/2026, 3:07:06 PM · permalink

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rick · 4/3/2026, 9:20:28 PM · permalink

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hyokkim · 4/4/2026, 5:58:31 AM · permalink

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rick · 4/4/2026, 2:25:32 PM · permalink

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hyokkim · 4/4/2026, 2:53:27 PM · permalink

''China has kept it's gold holdings secret. Maybe they will never fully disclose?''  
  
China has been committing GDP fraud for decades, in order to get more foreign investment; what makes you think she would not do the same regarding the gold reserves?  
  
''Maybe the only know thing between countries will be the gold deposits in vaults used to facilitate trade.''  
  
....and that is why I keep asking: How would they know how much gold reserves each other really have, without the audit?  
  
''This is the new non-fiat system coming together.

The system is not operational it is being installed.''  
  
Installed by whom?  
  
''The point that seems obvious is that there has always been a lot of physical delivery it's not new.''  
  
Not as much as it would be if the gold reserves were actually used for general trade; the physical delivery of gold today is based on either industrial purpose of the gold, or speculative/commodity investment merit, not for general trade.   If the gold were actually used for general trade, there would be far more physical delivery of gold than today, and there would be far more incentive to cheat.  
  
''I don't know why you would think that there's not much temptation to cheat. The U.S. was caught doing funny things about 10 yrs ago.''  
  
I am saying the incentive to cheat if the gold were actually for general trade would be far bigger than today.  
  
 "Why do you keep avoiding answering the question?" - Hyok Kim

''And I keep saying that I'm not avoiding it I actually think that it is as close to being a non-issue as there is because it has been dealt with throughout history.''  
  
How has it been dealt with throughout history?  
  
''This is happening and maybe it will be a totally corrupt cheating system multiple countries will to use against each other.''  
  
That would be the case if the gold were usdd for general trade; today's fiat money system is based on combination of a nation's economic productivity/political stability/the size of the economy.   That's not cheating; it is the reality whether one likes it or not.  
  
It is only fitting a nation that has overall advantage in economically more productive, more politically stable, and bigger in size of the economy would have more dominant position in international trade, so long as those conditions are met.  
  
''Or the most powerful in it will fiatize it somehow.''  
  
Under gold standard system, what about the countries' with the biggest gold mines?   Wouldn't they have the biggest say in who would have the dominant/reserve currency?  
  
''At the risk of sounding insulting (I am not) I'm going to extrapolate on your point of view. - I can not explain the mechanics of "auditing" the gold used in this system therefore it will be corrupt. -

So we just keep answering each other with questions.''  
  
Dude, I am only asking a question that would be the most relevant under gold standard: How would one prevent/discourage cheating?   Without preventing/discouraging cheating, the gold standard is bound to fail, as it always has had.     
  
Why can't you not offer even a hypothetical scenario of auditing gold reserves?

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rick · 4/4/2026, 5:26:21 PM · permalink

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hyokkim · 4/4/2026, 6:31:44 PM · permalink

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rick · 4/5/2026, 2:40:48 PM · permalink

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hyokkim · 4/6/2026, 5:02:04 AM · permalink

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hyokkim · 4/6/2026, 4:34:40 PM · permalink

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rick · 4/6/2026, 5:23:43 PM · permalink

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hyokkim · 4/7/2026, 4:21:57 AM · permalink

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rick · 4/7/2026, 9:43:55 PM · permalink

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hyokkim · 4/8/2026, 6:36:56 AM · permalink

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rick · 4/5/2026, 2:52:26 PM · permalink

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