During 2012 Fiat Currencies And Gold Collapse Against Bitcoin
by Trace Mayer, J.D. on December 31, 2012 · 0 comments
Reading time: 19 – 32 minutes
Obviously, over the past couple years gold has completely collapsed relative to Bitcoin; gold’s performance relative to Bitcoin is worse than the Argentina Peso against the USD.
The currency collapse has continued unabated. Once again all major fiat currencies have fallen relative to gold. And once again Bitcoin’s performance absolutely crushes gold and silver.
With Bitcoin now entering its fourth year the numbers speak for themselves. All major currencies are rapidly collapsing against Bitcoin. Ominously, under International Accounting Standard 29 there is a case that even gold is in hyperinflation relative to Bitcoin as the presentation currency under IAS 1, 19.9 and IAS 21. And Bitcoin is just getting started.
With Bitcoin performing so well many are probably wondering: “Bitcoin is still around, what the hell is going on?” So let’s take a look at where the money is being made.