Welcome to the Hardcore Husky Forums. Folks who are well-known in Cyberland and not that dumb.
MASSIVE Protests Erupt, Conservatives Rise Up Against Lockdown As Democrats Openly Flout The Rules
Comments
-
How do go broke? Gradually, then suddenly.
-
That may be. You're saying there's a tipping point, before which you don't perceive what you're doing to yourself, and after which it's too late.WestlinnDuck said:How do go broke? Gradually, then suddenly.
That may be. And, people being people, I can see folks running to gold or other false idols only to realize that when things have gone to hell in a handbasket nothing, apart from hard assets, really have value. It's all in relation to buying power. -
Currencies aren’t a strongpoont for me either and I’ve always wondered about the gold standard and why it matters. Nothing of value can be built from gold itself, or whatever Bitcoin is as well. I have a gold wedding band and that’s it. Should I own more gold for a rainy day? What trade value does it have? I don’t know. Seems dumb to me but I admit I don’t understand the real value of currency.creepycoug said:
I'll be candid here: I don't fundamentally understand bitcoin. And gold is as much a psychological play as currency. That is, in and of itself it has no inherent value other than for decorative purposes. It's a hunk of metal. You can't eat it or fuck it, and it doesn't keep you warm and dry. It's only valuable because there's a fixed amount of it, and people used to use it as a baseline for the dollar.WestlinnDuck said:
Gold isn't a country. Neither is Bitcoin. Don't need a government if it can't do its job. The market will figure it out. Then - like Venezuela - the government will ban it. Scratch a leftist, find a fascist. Then the capital goes offshore.creepycoug said:
What you write makes intellectual sense. But then, the response would be found in the same (your) post: "safe" relative to what?WestlinnDuck said:
The people who are subsidizing our debt are people who view US treasury bills as a safe investment. It has nothing to do with our enemies. Would you rather hold Italian debt or US debt? It is that simple. The whole safe investment thing is jeopardized when we keep printing money. The dems want an explosion of debt and printed dollars. Get a little inflation started and then interest rates go up. We currently have $27 trillion in debt at an almost zero percent borrowing cost. 10 year US treasuries are yielding under 1%. For every 1% increase in the US borrowing rate, the interest on our debt will increase by $270 billion. That is unsustainable and at some point US treasuries will not be safe.Kaepsknee said:My worry is that the dollar will lose so much value that the IMF starts talking about using another currency as they almost did in the last crash. I mean that’s the only thing that has kept this ship afloat. Our enemies financing our debt. Been that way for 30 plus years.
Which country is doing is right/better and therefore stands to jump into our? place as the global reserve currency?
Which takes me to @UW_Doog_Bot 's response. If the underlying driver of the dollar is that it is a proxy for value creation in the US Economy, then we're only going to fuck it up by becoming a second/third world country. When that happens I'm not sure where the first world will be; surely whatever drives that catastropy would likely fuck everybody else up too. What he's saying, I think, is that the fundamentals are still there for us? relative to the rest of the world. On many levels, it is still the place to be, so, loosely at least, its currency is still the one to have. If this is political for you, I also don't recall Trump being a fan of raising rates either.
I get printing money because I tend to think about almost everything in supply / demand terms. But, again, as other economis experts have said on this board, we've? been hearing that forever and we? are Ted.Knight.gif waiting. Interest rates have been ridiculously low forever; so when is a loaf of bread going to cost me $20? Shouldn't it have happened by now? I honestly don't know the answer to that question, but I acknowledge it as a fair poont response from people smarter than I about these things.
Forests and mines are tangible assets that are used in society. Seems much more important an asset to control than some rare metal, but apparently not. -
And guns. Buy your guns today if you haven't already. I'm hearing they make a great bartering tool.creepycoug said:
That may be. You're saying there's a tipping point, before which you don't perceive what you're doing to yourself, and after which it's too late.WestlinnDuck said:How do go broke? Gradually, then suddenly.
That may be. And, people being people, I can see folks running to gold or other false idols only to realize that when things have gone to hell in a handbasket nothing, apart from hard assets, really have value. It's all in relation to buying power. -
Can't do much with them without ammoBleachedAnusDawg said:
And guns. Buy your guns today if you haven't already. I'm hearing they make a great bartering tool.creepycoug said:
That may be. You're saying there's a tipping point, before which you don't perceive what you're doing to yourself, and after which it's too late.WestlinnDuck said:How do go broke? Gradually, then suddenly.
That may be. And, people being people, I can see folks running to gold or other false idols only to realize that when things have gone to hell in a handbasket nothing, apart from hard assets, really have value. It's all in relation to buying power. -
There are many factors within the system that I have no concept of, for sure. I'm not an econ guy, but if everything is supposed to be based off of supply and demand I can't wrap my head around trillions more dollars being in the economy and that not making the cost of goods go up/value of cash go down. I know I've seen that happening to a certain degree at the grocery store.creepycoug said:
That is certainly my sense of it. There are economis guysms here, whose opinions I respect, who would argue: "I keep hearing about this super inflation and it never shows up."BleachedAnusDawg said:The stimulus stuff was FS. Should have kept things open as much as possible without negligently endangering people and slogged through the resulting recession. You can't print trillions of funny money and have it not lose value.
TRYK. -
It costs double what it did a year ago, but you can buy it. No shortage at my house.hardhat said:
Can't do much with them without ammoBleachedAnusDawg said:
And guns. Buy your guns today if you haven't already. I'm hearing they make a great bartering tool.creepycoug said:
That may be. You're saying there's a tipping point, before which you don't perceive what you're doing to yourself, and after which it's too late.WestlinnDuck said:How do go broke? Gradually, then suddenly.
That may be. And, people being people, I can see folks running to gold or other false idols only to realize that when things have gone to hell in a handbasket nothing, apart from hard assets, really have value. It's all in relation to buying power. -
If the shit every truly hits the fan, you bet they would. And they'd be the last thing I'd let go of.BleachedAnusDawg said:
And guns. Buy your guns today if you haven't already. I'm hearing they make a great bartering tool.creepycoug said:
That may be. You're saying there's a tipping point, before which you don't perceive what you're doing to yourself, and after which it's too late.WestlinnDuck said:How do go broke? Gradually, then suddenly.
That may be. And, people being people, I can see folks running to gold or other false idols only to realize that when things have gone to hell in a handbasket nothing, apart from hard assets, really have value. It's all in relation to buying power.
I've recenty inherited a bunch of guns. Nothing special; mostly hunting rifles and a 12 gauge. I'm thinking about buying a 9mm. When that tim comes, I'll post to Sleddy, Swaye and Yella, and anybody else here, for advice. -
I have a Sig M17 on the way. They're in and out of stock, but I decided to buy now before the Dems steal GA and Biden taxes the hell out of firearms (he won't try to ban pistols, but AR's will be gone).creepycoug said:
If the shit every truly hits the fan, you bet they would. And they'd be the last thing I'd let go of.BleachedAnusDawg said:
And guns. Buy your guns today if you haven't already. I'm hearing they make a great bartering tool.creepycoug said:
That may be. You're saying there's a tipping point, before which you don't perceive what you're doing to yourself, and after which it's too late.WestlinnDuck said:How do go broke? Gradually, then suddenly.
That may be. And, people being people, I can see folks running to gold or other false idols only to realize that when things have gone to hell in a handbasket nothing, apart from hard assets, really have value. It's all in relation to buying power.
I've recenty inherited a bunch of guns. Nothing special; mostly hunting rifles and a 12 gauge. I'm thinking about buying a 9mm. When that tim comes, I'll post to Sleddy, Swaye and Yella, and anybody else here, for advice. -
I agree that gold, like Bitcoin is a psychological ploy. But no more than the US dollar. The government promises not to debase the dollar, while its actions certainly aren't supporting that promise. Interest rates remain low and the dollar strong because individuals are still trusting. Gold has been a trusted store of value and relatively transportable for thousands of years. Governments have tried debasing gold coins with base metals for the same period of time. Works for a little while and then the gold coins then aren't trusted. One pound of gold is worth about $26,000 at today's price. You rather have a pound of gold or a wheel barrel of German Weimar marks? If the baby boomers didn't/don't care to pay their debt, why would their children and grandchildren step up to the plate?creepycoug said:
I'll be candid here: I don't fundamentally understand bitcoin. And gold is as much a psychological play as currency. That is, in and of itself it has no inherent value other than for decorative purposes. It's a hunk of metal. You can't eat it or fuck it, and it doesn't keep you warm and dry. It's only valuable because there's a fixed amount of it, and people used to use it as a baseline for the dollar.WestlinnDuck said:
Gold isn't a country. Neither is Bitcoin. Don't need a government if it can't do its job. The market will figure it out. Then - like Venezuela - the government will ban it. Scratch a leftist, find a fascist. Then the capital goes offshore.creepycoug said:
What you write makes intellectual sense. But then, the response would be found in the same (your) post: "safe" relative to what?WestlinnDuck said:
The people who are subsidizing our debt are people who view US treasury bills as a safe investment. It has nothing to do with our enemies. Would you rather hold Italian debt or US debt? It is that simple. The whole safe investment thing is jeopardized when we keep printing money. The dems want an explosion of debt and printed dollars. Get a little inflation started and then interest rates go up. We currently have $27 trillion in debt at an almost zero percent borrowing cost. 10 year US treasuries are yielding under 1%. For every 1% increase in the US borrowing rate, the interest on our debt will increase by $270 billion. That is unsustainable and at some point US treasuries will not be safe.Kaepsknee said:My worry is that the dollar will lose so much value that the IMF starts talking about using another currency as they almost did in the last crash. I mean that’s the only thing that has kept this ship afloat. Our enemies financing our debt. Been that way for 30 plus years.
Which country is doing is right/better and therefore stands to jump into our? place as the global reserve currency?
Which takes me to @UW_Doog_Bot 's response. If the underlying driver of the dollar is that it is a proxy for value creation in the US Economy, then we're only going to fuck it up by becoming a second/third world country. When that happens I'm not sure where the first world will be; surely whatever drives that catastropy would likely fuck everybody else up too. What he's saying, I think, is that the fundamentals are still there for us? relative to the rest of the world. On many levels, it is still the place to be, so, loosely at least, its currency is still the one to have. If this is political for you, I also don't recall Trump being a fan of raising rates either.
I get printing money because I tend to think about almost everything in supply / demand terms. But, again, as other economis experts have said on this board, we've? been hearing that forever and we? are Ted.Knight.gif waiting. Interest rates have been ridiculously low forever; so when is a loaf of bread going to cost me $20? Shouldn't it have happened by now? I honestly don't know the answer to that question, but I acknowledge it as a fair poont response from people smarter than I about these things.
