Exactly and it's importance can also be noted when other countries tend to purchase oil from the oil producing countries because the oil can only be purchased by paying in US dollars.
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This coin I heard about called USD
- Thread starter Illini Trader
- Start date
Exactly and it's importance can also be noted when other countries tend to purchase oil from the oil producing countries because the oil can only be purchased by paying in US dollars.
it is true today, but tomorrow is promised to no one. that includes currenciesExactly and it's importance can also be noted when other countries tend to purchase oil from the oil producing countries because the oil can only be purchased by paying in US dollars.
if the Democrats return to power, Congress will guarantee the debt of the states and will pay the salaries for local government workers. it will pay for it by printing money etc. then the US will become the next Argentina with high inflation and a collapsing US dollar.P.S. The U.S. will never run out of money nor default on its debt. Well lets just say some other calamity will occur before that happens
Yes the debt. And as for assets many times people refer to federal lands as if Yellowstone or the Capitol Building can be sold to the highest bidder.
The only assets worth anything are taxes collected and loan receivables including a shitload (getting shittier by the day) of student loan debt - which will probably be written down a big chunk in the next year or two anyway.
GDP is what the country, not gubmint, produces.
As many have said Al Qaeda or ISIS or whatever next boogieman neocons create is not what will bring this country down. Debt is what will do it. Debt that both parties have piled on this country and both parties continue to give lip service to.
I am surprise, no not really, how many traders are clueless to this.
Let's say u r right (u r not btw). How should a trader take advantage of this information?
The trader should take advantage of this information by diversifying into the most prominent cryprtocurrencies which is the real premise of this whole thread. The responders on this thread that think that the USD will never suffer inflation are naive. Just like any family who uses a credit card to finance 25% of their monthly expenses, well, the chickens do come home to roost. Inflating the debt away is the plan because it can never be paid back otherwise.
Yet more nonsense ... of the failed Keynesian School of Economics that got us (btw BOTH political parties follow) in the mess we are in.I would suggest you would find a modern text on money and banking helpful in understanding fiat money and the role of deficits.
Many are surprised when they learn that U.S. government sector debt equals private sector savings. They balance to the penny. That's why the debt clock could just as well be called the savings clock.
There is no trick being pulled here. It is just a matter of accounting.
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Because you say so?Let's say u r right (u r not btw). How should a trader take advantage of this information?
And the most obvious way ... I am no going to say on a public forum.
You my friend have hit the nail right on its proverbial head! I started this thread as my feeble attempt at a little humor but you have nailed the serious core of it all:
Fiat Currencies start out well as they have (1) Acceptance and (2) A controlled supply. They then print too much of Number (2) and then become Number 2. (Ahh another feeble attempt at a little humor)
Bitcoin on the other hand already has gained world wide acceptance in the "fringe" area of the population and it has a finite 21 million eventual total supply. So the only variable in the supply demand curve is price. If you want a portion of a bitcoin you have to buy it from someone who already has one and is willing to sell it to you. (Bitcoin is divisible down to .00000001 bitcoins)
The entire world monetary system is in deep trouble. Every developed nation has debt well beyond the ability to pay it back. And, this debt is increasing dramatically. They call it debt but is in reality just printing money for the most part as there is no "world rich guy" loaning them all this new money.
It is all held together by scotch tape and near zero interest rates. When it starts to crack the "world's strongest army and navy" to quote one responder, will be helpless to defend the USD.
I hear bubble talk all the time from investor types that just look at the chart of bitcoin and compare to the dot-com hockey stick charts. But there is one big difference: The dot com companies had to maintain sustained sales growth and most had no actual earnings. The bubble had to burst. Bitcoin is not anchored by these basic fundamentals that stocks are subjected to. It has simply been accepted as a storage of wealth and even though very volatile, more and more people are believing that it has better long term security than the USD for this purpose.
So, in one article I read the other day it comes down to this. Which side of history do you want to be on?
Except for the fact that Bitcoin can hard fork, thereby doubling the supply of coins overnight. Except for the fact that anyone can create a Bitcoin competitor and there could be a nearly infinite supply of these different coins. Your arguments really don't hold water when you look at it this way.
Well, it sounded like a good idea when I first heard about it, so I guess I will just stay in USD and forget about investing in an infinite supply of different coins. I certainly do not want to be in an investment that does not hold water.
The thing with BTC is no matter how logical of an argument you can make for it, the US government is the gorilla in the room that can and will squash it when they so choose and it will be end of story. If you don't like it, leave the US! Will the US really allow a form of payment, such as BTC to compete with USD if or when the USD starts going down the toilet? This is precisely when stiff rules will be enforced.
Everyone making arguments in favor of BTC make it sound like the US government will uphold all logical arguments in favor of it as if it has a responsibility to give consumers a choice about which currency they want to use. As long as you live in the US, there will never be a choice about what currency you use.
Everyone making arguments in favor of BTC make it sound like the US government will uphold all logical arguments in favor of it as if it has a responsibility to give consumers a choice about which currency they want to use. As long as you live in the US, there will never be a choice about what currency you use.