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re: Hyperinflation is now a reality per Bank of America
Posted on 5/4/21 at 3:31 pm to Aubie Spr96
Posted on 5/4/21 at 3:31 pm to Aubie Spr96
quote:
I'll disagree here. There will be a pullback and a big one.
Disagree as in you feel comfortable holding dollars? Yeah strongly disagree. I think the dollar, and all fiat currencies for that matter, face global debasement.
only reason I see to keep any excess liquidity is if you are timing a specific market and have the intent to get rid of it. Fiat currency is toxic.
This post was edited on 5/4/21 at 3:34 pm
1
Posted on 5/4/21 at 3:32 pm to theunknownknight
Need housing to collapse so I can pull out large loans and buy a ton of property.
Posted on 5/4/21 at 3:34 pm to Ross
quote:
I think the dollar, and all fiat currencies for that matter, face global debasement.
Agreed.
However, that leaves the 401K investor with what? Nothing.
I like the idea of crypto as a value store outside the influence of central gov'ts. However, I'm not sure those are save havens. I believe that if the NSA or China wanted to hack Bitcoin and blow it out of the water, that they could (and will).
Posted on 5/4/21 at 3:36 pm to Ross
quote:Looking at some timberland tomorrow.
if people are still hanging onto dollars outside of an emergency fund, time has quickly begun to run out to preserve your wealth.
Posted on 5/4/21 at 3:37 pm to theunknownknight
We’re in trouble.
Posted on 5/4/21 at 3:38 pm to theunknownknight
I just bought some silver and gold coins today, I am definitely preparing for the fiat currency to crash eventually.
Posted on 5/4/21 at 3:38 pm to Old Money
I've been an economic doomer at heart since like '04. But, I have never been able to figure out the inflation or deflation debate. I suspect we get a little minihyperinflation, then a crash when rates are raised or whatever. That should be when property is cheap, though the loans will cost you more.
Posted on 5/4/21 at 3:40 pm to Bunk Moreland
Hyperinflation is an automatic transfer of wealth to those holding a crap load of debt
Posted on 5/4/21 at 3:44 pm to Aubie Spr96
quote:
believe that if the NSA or China wanted to hack Bitcoin and blow it out of the water, that they could (and will).
Your bank account and everything that is secured all over the internet would go down with crypto, my friend.
SHA256 is the encryption algorithm used to secure the Bitcoin network and that same encryption algorithm is almost assuredly used to secure your online connection with your bank. If there is a vulnerability discovered in the the SHA-2 family of encryption algorithms, Bitcoin (and probably the rest of the internet) would move to a more secure cryptographic hash function for their security.
In order to defraud Bitcoin, you either crack SHA256 (never done before despite immense financial incentive to do so) or come up with 51% of the computational power of the entire network (not feasible even for China or the USA)
This post was edited on 5/4/21 at 3:48 pm
Posted on 5/4/21 at 3:46 pm to Roger Klarvin
quote:
To be fair, this is more of an indication of perceived inflation as opposed to objective evidence of inflation itself.
That being said it’s coming.
Umm, when groceries cost more than 20% from last year it's real inflation. I don't perceive buying less goods with the same amount of money as last year. It's objectively real.
Posted on 5/4/21 at 3:51 pm to theunknownknight
I'm going crypto. Not in full, but an ample collection of bitcoins in the ol' portfolio.
Posted on 5/4/21 at 3:54 pm to Ross
quote:
if people are still hanging onto dollars outside of an emergency fund, time has quickly begun to run out to preserve your wealth.
Serious Question, where do you suggest moving excess funds outside of emergency fund?
Posted on 5/4/21 at 3:55 pm to Ross
quote:
The absolute worst thing you can do right now is keep excess liquidity. Keep enough to cover 6 months of expenses, but no more. It is currently and will continue to be degraded in value.
So I've maxed out my 401K and have roughly 1 year salary in cash / savings. I own a small business and have some cash in two accounts for that too. Should I pull some cash from the business and savings and put it elsewhere?
Posted on 5/4/21 at 3:59 pm to tarzana
quote:
I'm going crypto. Not in full, but an ample collection of bitcoins in the ol' portfolio.
IMO this is a good move.
Posted on 5/4/21 at 4:00 pm to Diamondawg
quote:
Looking at some timberland tomorrow.
Great minds think alike. Baw investments.
Posted on 5/4/21 at 4:14 pm to theunknownknight
Welcome to Joe Biden's America pilgrims.
Posted on 5/4/21 at 4:17 pm to tarzana
you voted for this moron
frick off
put your money into dildos
no one wanted 12t to pay for social equity or paki trannies
**just like all the dumb frick Dems coming here complaining their premiums went up for ocare, I member
frick off
put your money into dildos
no one wanted 12t to pay for social equity or paki trannies
**just like all the dumb frick Dems coming here complaining their premiums went up for ocare, I member
Posted on 5/4/21 at 4:17 pm to theunknownknight
So whatcha saying is i need to go in debt up to my arse on some land somewhere?
Posted on 5/4/21 at 4:18 pm to DownshiftAndFloorIt
quote:At least you will have a spot to homestead when the collapse comes
So whatcha saying is i need to go in debt up to my arse on some land somewhere?
Posted on 5/4/21 at 4:19 pm to BobLeeDagger
All bs aside a crash with hyperinflation makes dollars useless unlike a crash such as 1929 . Not having proper ability to buy or sell items will make the lead in those bullets be spread. People will have fending for absolute essentials a daily thing . What is going on in places like Venezuela or Zimbabwe is nothing like what could happen as they currently use other fiat dollars ( US mostly) as a fallback . Having the US dollar blow up leaves not much else other than a barter system
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