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RE: Bitfinex is Bailing In the Entire Bitcoin Market - MtGox 2.0?

in #bitcoin8 years ago (edited)

The reckoning for Comex's excessive issuance of especially silver certificates is still in in the future at this point. But it's going to come eventually and the silver price will bound upwards very fast. It's not possible for the competition between bullion buyers and industrial users to continue at current prices. Something is gonna snap in the next 12 months for sure.

Actually it's worse than this. And I think they are gonna fall afoul of laws about securities trading over these BFX tokens. They basically amount to stock issues. I am pretty sure their books are in the red, and I have a feeling that there is probably laws against insolvent corporations trying to sell pseudo-stocks to recover their losses and become solvent.

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