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It was lack of confidence that triggered inflation. You can print as much as you want as long as counterparts have the full confidence on the currency. Closing the gold window caused a major confidence problem.

What is crazy is the US has painted itself in a corner and no longer have the tools to control inflation like what Volker had.

Vietnam war, Great society program And the US handing out tons of foreign aid to other countries. This caused a Balance of payment crisis in the mid 1960s. Speculators started to convert USD into gold. The official rate was 35 dollars an ounce per gold fixed but speculators were able to arb that...

Crypto is useless as a medium of exchange. It primarily functions as a GFT HYIP game. Transaction times, costs and huge price swings makes it a no-go. Could you imagine If a loaf of bread cost 10 cents Monday, 2 dollars Tuesday then 50 cents wed and 1.45 Friday. Or imagine selling a house and...

I am only interested in discussing how this impacts the economy. I don't see why a discussion is not something you are willing to partake in. That is all on you. My trades are irrelevant to this discussion. I am not selling books nor am I telling people how to trade.

Something called Rare Pepes are trading for big money as well.

https://www.cnbc.com/2021/03/11/most-expensive-nft-ever-sold-auctions-for-over-60-million.html We reached peak tulip madness. people have money to burn and don't know what to do with it so now billionaires are fighting amongst each to see who would pay more for some jpeg image that has a number...

You can assume all your personal information is out on the internet. No one takes security seriously and since there are no repercussions I do not expect anything to change.

Lots of people predict things hoping to get it right once and then write a book about how they predicted X. Unless they have the conviction to put the chips on the table and take a stand, all these predictions are no different than having apes throw darts on a dartboard and anyone can do it...

This is an economics discussion, Trading is a whole different thing. If you fought the tape and lost money that's on you.

Past performance is no guarantee of future results. America today is not your dads America of past.

I think its a good idea. But if its like all those Freedom laws that they push and people line up to vote yes but in the end it really cuts down on your freedoms but not the politicians or the elites. What will really happen is somehow this will impact regular Americans when it comes to...

Bitcoin is not an asset. There is nothing tangible in regards to Bitcoin nor does it expel any form of value other than what people agree to giving it a value today. It is not unique. It is a mathematical function constructed into a blockchain ledger. The problem is people could decide on a new...

We have an aging and ossified leadership pretty much lots of parallels to the last 2 decades of the Soviet Union during the era of stagnation. I am curious to see what happens when a tipping point is crossed. if 10 year treasury yield of 5.3% is fatal to our economy then we have a real...

So I would venture the FED would have to buy as many 10yr notes as possible. I just wonder if at some point the they end up being the only buyers. I wonder how long that could last before it is no longer possible? If that happens it would signal to the world we pretty much entered into some...

Also what's to stop Central banks from creating a new block chain and declaring all other blockchains illegal and transfers can no longer be done with other cryptos ie BTC etc.. There is one gold, but there are many blockchains and todays blockchain might not exist in 10 years but gold will...

Our debt is significantly greater than in 2003, and the M1,M2 supply as well. If buyers get spooked and expect a better return to loan out money to the govt for 10 years it will quite interesting. I would imagine the S&P 500 would take a 40% haircut. PM's like gold will tumble to 800 or less an...

Remember the USD is backed by Plutonium-239

Curious how much do you earn on BTC a month. ie how much do you transfer to a bank in USD as profits a month? Do you live off BTC trading profits to pay light bill,mortgage etc?

It is pretty much that. In addition who knows how many untold bitcoin wallets that are permanently out of the market because its in a landfill somewhere, especially early adopters who ended up mining quite a bit of BTC during the easy early days...