I love the transparency of this market....

NoahA said:
Yes, the guaranteed debasement of the USD has been slow and steady, with bouts of sharp drops.

The gold standard had to be removed because the US could no longer give away gold that other European countries were asking for in exchange for their USD. The government is spending way more than we think, so instead of collecting taxes, they have to debase the currency and fund all the bullshit in this way.

There is no hope for retirement for many people anymore, and lots of seniors are back to working because they just can't make ends meet anymore. So this system is on its last legs.
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i think the last point is because wages haven't kept up. Many people would argue this is Reagan's policies, but i think it's the natural state of the world. 99% percent of us are worker ants, 1% of us are queen ants.

moderate predictable inflation is good. It encourages investment. Even my 8yo figured out that deflation is bad when i asked her if she wanted 1 ipad game today or 2 ipad games tomorrow with his allowance money
 
newwurldmn said:
i think the last point is because wages haven't kept up. Many people would argue this is Reagan's policies, but i think it's the natural state of the world. 99% percent of us are worker ants, 1% of us are queen ants.

moderate predictable inflation is good. It encourages investment. Even my 8yo figured out that deflation is bad when i asked her if she wanted 1 ipad game today or 2 ipad games tomorrow with his allowance money
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This is how insidious the current system is.... even smart people think a bit of inflation is good! Why does there have to be any? Why does money need to lose value? Inflation is just a tax that governments create on top of the tax that you already pay.

The only reason that deflation is bad is because of all the toxic debt in the system. But when a system is designed to fail, its a bad system. Imagine if your weight inflated at a minimum of 2% per year. Your legs wouldn't be able to hold you up anymore.

The wage issue is yet another reason why governments want open borders. They love low wage workers pushing the price of labour down. The government literally wants slaves to produce everything for no compensation while they enjoy all the riches.
 
newwurldmn said:
im not an economist so I don’t pretend to understand this stuff. But the gold standard was essentially like bitcoin and it caused volatile inflation. Volatile inflation is bad. You can’t plan. We saw a small glimmer of this 2 years ago, but the last 50 years have been pretty clean. That is you know how much you need to retire. Who knows what that would equate in gold, bitcoin, or tangerines?
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don't you mean going off the gold standard caused volatile inflation? the inflation in late 70s?
 
The way the gold standard is supposed to work, was awesome. But the poor way it was implemented at Bretton Woods... (pegging every currency to Dollars then dollars to gold) was abysmal.

It was only a matter of time before the nation in control of the reserve currency would not be able to resist further temptation and abuse it... followed by defaulting.

Dumb-dumb-dumb all around.

Keynes had a superior method with bancor, but no one wanted to listen to him (yet again). I can only imagine how frustrated he was with Westerners just fucking everything up.
 
NoahA said:
This is how insidious the current system is.... even smart people think a bit of inflation is good! Why does there have to be any? Why does money need to lose value? Inflation is just a tax that governments create on top of the tax that you already pay.

The only reason that deflation is bad is because of all the toxic debt in the system. But when a system is designed to fail, its a bad system. Imagine if your weight inflated at a minimum of 2% per year. Your legs wouldn't be able to hold you up anymore.

The wage issue is yet another reason why governments want open borders. They love low wage workers pushing the price of labour down. The government literally wants slaves to produce everything for no compensation while they enjoy all the riches.
More...

Deflation is bad because it creates positive economic returns to sitting on a pile of gold coins and scratching your balls.

Compared to a deflationary regime, the current system far more strongly incentivizes active work, risk-taking, and productive use/investment of capital.
 
Yeah Noah, you’ve admitted to having a low amount of wealth. Low levels of wealth (7 figures) are fairly easy to create with the right kind of thinking and a good work ethic. Listen to the wealthier and more intelligent members of this forum when they are trying to advise you.

BTC isn’t going to $1mm anytime soon. I like BTC but this idea of a panicked exodus to a periphery asset class is not realistic.

Mild inflation encourages productivity in a developed society. If you can’t set aside your mistaken beliefs and understand this it’s only going to be a detriment to yourself. Frankly you should be grateful that some of the few intelligent members of this forum are spending their time to dialogue with you, so you should strive for a disposition of humility and learn from them. It will only benefit you in the long run. Be very discerning of what ideas you are internalizing because you are off base on some of your fundamental premises. Best of luck to you.
 
llIHeroic said:
Yeah Noah, you’ve admitted to having a low amount of wealth. Low levels of wealth (7 figures) are fairly easy to create with the right kind of thinking and a good work ethic. Listen to the wealthier and more intelligent members of this forum when they are trying to advise you.

BTC isn’t going to $1mm anytime soon. I like BTC but this idea of a panicked exodus to a periphery asset class is not realistic.

Mild inflation encourages productivity in a developed society. If you can’t set aside your mistaken beliefs and understand this it’s only going to be a detriment to yourself. Frankly you should be grateful that some of the few intelligent members of this forum are spending their time to dialogue with you, so you should strive for a disposition of humility and learn from them. It will only benefit you in the long run. Be very discerning of what ideas you are internalizing because you are off base on some of your fundamental premises. Best of luck to you.
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If you want me to take anything you say seriously, you will need to tell me how you made your millions and how you continue to do so. There are very many smart people whose podcasts I have listened to that understand a debt spiral is literally a ticking time bomb and it can take 10 years or hit next month.

The smartest people were telling everyone to buy bitcoin at $1. I understand that there are smart people here who trade very well, but they are simply operating in the old world order. Its like taking a citizen of the US and dropping them in the middle of Gaza. Any idea about how you think the world works and what right you think you have will immediately evaporate.

I do believe the current financial system is very precarious, and although I'm sure another program will be invented that will try and stimulate a failing economy, how well any of these things work going forward is anyone guess.

Just today the Fed announced they will cancel the BTFP program in March. What will banks do who own debt that is heavily in haircut territory? Do they actually want banks to fail? Since the deficit was easily 2T last year, without anything meaningful done, how do you expect this to slow down when a 2T budget deficit is now the bare minimum?

I'm very happy to listen to these traders on how they make money today. But I will stick with my bitcoiners who understand money 10 times better that most other people here and can see very clearly how the house of cards can collapse at anytime. I would love to ask these smart people if they have ever thought about what a true supply shock in bitcoin availability means.
 
Gold bugs have been banging this "collapse of the financial system/FIAT" drum for years. I fell for this post-2008 and missed out on most of the subsequent epic stock bull run.

I'm now highly sceptical of anyone who claims to be able to foresee the future of the financial markets. Chances are their convictions are distorted by their own internal biases.
 
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