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Cyph3rp9nk | 5 months ago (raw) | export | reply | flag +5 
 Above you have the image of the total gold accumulated by ETFs globally, below the same but in Bitcoin.

Gold is at historical highs, while the amount of gold accumulated by ETFs is in a downtrend.

ETFs are not everything.

https://m.primal.net/IqGR.jpg
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bitbybit | 5 months ago (raw) | root | parent | reply | flag 
 The ETF shares are being redeemed for gold in the US and the physical thing is being sold in China at a premium.  The US is essentially sending all its domestic gold to the East.  

The US will back the dollar with Bitcoin and the East will back its FX by gold.  BTC is most likely a govt creation to defend the dollar.