People who decry one arbitrary carrier of value ("but it's a fiat currency" they cry) for another just as arbitrary carrier of value like gold (ever try to eat it, make anything useful besides jewelery and some niche applications?) make me laugh. The sad part is that they have this almost Catholic guilt concept that makes one think they want a terrible crash and all the real pain that would bring because we somehow "deserve" it plus they'd be proven right I guess.
Forget About Fake News...Let’s Talk About Fake Markets
- Thread starter themickey
- Start date
Without regulation, manipulation, circuit-breakers and all that jazz, markets won't function properly. Self-regulation is a myth and prone to prisoner's dilemma and tragedy of the commons. Besides, capitalism has always been converging towards socialism, this is nothing new. What's new, and also happened in the 20's and before WWII is the entitlements and robbery by the elites. Though, humanity seems to slowly acknowledge this is the wrong path, although these realizations do not show up in mainstream news for the masses, yet. It's the inescapable realization that we're in this boat together, no matter what, which is new in this age of technology and abundance.
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I will reply with reprint of signatures of some of the members from the forum i read daily.
I am not enough knowledgeable to come to conclusions on my own so i value their opinions.
"Motto: I'd rather be wrong and prepared, than right and unprepared.
Addendum: But I'd really, really hate to be wrong and unprepared. Because then I'd be one of the sheeple."
"Gold is the money of kings, silver is the money of gentlemen, barter is the money of peasants - but debt is the money of slaves - Norm Franz, "Money and Wealth in the New Millennium"
"Historically, 100% of all fiat currency regimes have ended in hyperinflation. 100%. Is that a lot? "
This is one of my favorite nonsense quotes. You can just as easily say "Historically, 100% of companies that have issued stock have gone bankrupt." Obviously, just like currencies, a number of companies that issued stock have gone bankrupt. And lots have not and are still going strong, just like so called "fiat currencies". The fact that some companies have gone bankrupt does not in any way equal "100% of all companies have ended in bankruptcy" any more than the fact that some currencies have ended in hyperinflation mean that "historically, 100% of all fiat currency regimes have ended in hyperinflation".
Not sure I would value the opinion of someone that ill-versed in basic logic.
That's what makes the market,difference of opinion.
I am an average Joe,basically most of my personal views are based on single influence.I never seen anybody with sharper mind and so well read in economics,finance and in general.
fake market or no fake markets, most of it is confidence game.