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re: Assuming hyperinflation is coming....
Posted on 1/8/21 at 4:14 am to RedStickBR
Posted on 1/8/21 at 4:14 am to RedStickBR
I'm not sure I buy into the chapwood index numbers of 10-12% but the under 2% rates also just seems as equally absurd
here's the thing though: QE to the tune of 25% of all $ ever printed happened just in the last year... which is why threads like this exist ...bc people are starting to become concerned about fiat failing
here's the thing though: QE to the tune of 25% of all $ ever printed happened just in the last year... which is why threads like this exist ...bc people are starting to become concerned about fiat failing
1
Posted on 1/8/21 at 6:00 am to F73ME
There are some converse interest rate funds out there. Rydex had one that I bought many years ago as a hedge against inflation (bad move)
Otherwise, own gold or other precious metals
Otherwise, own gold or other precious metals
Posted on 1/8/21 at 8:11 am to rocket31
quote:
I'm not sure I buy into the chapwood index numbers of 10-12% but the under 2% rates also just seems as equally absurd
The Chapwood Index just got torn apart on the Pragmatic Capitalism blog here:
LINK
Inflation is when too much money chases too few goods. “Too much money” is informed by both the quantity and velocity of money. We’ve seen the quantity soar, yes, but we’ve also seen velocity plummet, hence a very tepid inflationary response so far.
Posted on 1/8/21 at 8:27 am to RedStickBR
Ya, the cost of living argument is simply a function of supply and demand. It's not this great outward shift in aggregate demand. Inflation as a term has been more bastardized than Black Swan.
Posted on 1/8/21 at 8:54 am to RedStickBR
yea so according to that paper both rates seem absurd so the truth is somewhere in the middle?
and i agree throwing around the term "inflation" is a ridiculously nuanced conversation depending on how deep we wanna go
and i agree throwing around the term "inflation" is a ridiculously nuanced conversation depending on how deep we wanna go
This post was edited on 1/8/21 at 8:55 am
Posted on 1/8/21 at 9:10 am to TigerTatorTots
quote:
I'll save you the time because it is obvious you haven't spent even a few minutes learning about Bitcoin.
That's why I asked the experts.
Thinking about it more I would ask it this way: couldn't world governments agree to make it impossible to exchange for their currencies?
Posted on 1/8/21 at 9:11 am to BornCritic
Sure. People could then begin to accept bitcoin as currency circumventing the dollar all together. (I don’t see this happening on a large scale or any time soon though)
Posted on 1/8/21 at 9:13 am to BornCritic
seems far more likely that government's would want to encourage crypto adoption and then tax the hell out of us... which seems to be what they're doing
Posted on 1/8/21 at 9:13 am to BornCritic
quote:
couldn't world governments agree
And you would need 100% of the countries to agree.
This post was edited on 1/8/21 at 9:14 am
Posted on 1/8/21 at 9:31 am to BornCritic
quote:It would cause a supply and demand effect. If Bitcoin takes off, and governments then begin to regulate the offramps (i.e. banning crypto exchanges that would covert crypto to fiat), then the companies and people would move their businesses and lives to exist under governments that do allow it. Furthermore, the wave of multi billion dollar companies and institutional funds adding bitcoin as a reserve asset to their balance sheet has begun. With that, you are getting the lawyers and lobbyers of these powerful companies and institutions. I think the ship has sailed on governments cracking down too hard.
Thinking about it more I would ask it this way: couldn't world governments agree to make it impossible to exchange for their currencies?
Posted on 1/8/21 at 9:34 am to TigerTatorTots
quote:
I think the ship has sailed on governments cracking down too hard.
Funny story:
Office of the Comptroller of the Currency
Posted on 1/8/21 at 9:44 am to F73ME
Gold and silver coins.
Posted on 1/8/21 at 9:49 am to Bard
Posted on 1/8/21 at 11:40 am to rocket31
You are not making the argument you think you are my friend, and I am bullish long term on BTC.
Posted on 1/8/21 at 11:48 am to wutangfinancial
lol my argument is that gold is falling apart in comparison to bitcoin... and you can spin that however you want
I also doubt you have any bitcoin since you said the fed would ban it
I also doubt you have any bitcoin since you said the fed would ban it
Posted on 1/8/21 at 11:51 am to rocket31
Cramer said on squawk this morning, when David brought up bitcoin being over 40k:
"Well it looks like it's replacing gold as the depository of wealth, and I'm never going to hear the end of it on twitter"
It's infiltrating CNBC one segment at a time.
"Well it looks like it's replacing gold as the depository of wealth, and I'm never going to hear the end of it on twitter"
It's infiltrating CNBC one segment at a time.
Posted on 1/8/21 at 12:06 pm to Pendulum
I mean if you think about it gold is the ultimate shitcoin
This post was edited on 1/8/21 at 12:06 pm
Posted on 1/8/21 at 12:45 pm to rocket31
Good luck accessing your bitcoins after a hurricane has knocked out power for miles in every direction or a strong solar flare has fricked a large segment of a hemisphere or you lose your account information.
Bitcoin is simply too volatile for my tastes and has been manipulated in the past (although the next time it crashes I might have to get in because it seems to rise to greater heights each time it rebounds). For what looks like the coming Dollar crash I would rather have something physical on hand that doesn't require electricity nor internet connectivity to trade for food, gas, etc.
Bitcoin is simply too volatile for my tastes and has been manipulated in the past (although the next time it crashes I might have to get in because it seems to rise to greater heights each time it rebounds). For what looks like the coming Dollar crash I would rather have something physical on hand that doesn't require electricity nor internet connectivity to trade for food, gas, etc.
Posted on 1/8/21 at 12:47 pm to Bard
I have a Hotspot and a generator, I didnt lose any ability to trade, withdraw, or deposit into bitcoin, but yea, I guess 15 yrs ago that would have been a valid concern.
If the internet and electricity go away....im not sure what current asset would be useful... I guess dollar bills can be burned.
If the internet and electricity go away....im not sure what current asset would be useful... I guess dollar bills can be burned.
This post was edited on 1/8/21 at 12:49 pm
Posted on 1/8/21 at 12:48 pm to Bard
You gonna trade your $1,000 chunk of gold for a tank of gas?
This post was edited on 1/8/21 at 12:49 pm
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