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I'd say about the same as what the inverted yield curves say (i.e. the rally on long term, high quality bonds). That the market expects growth to tighten: The
by H8crilA 7y ago
I'd say about the same as what the inverted yield curves say (i.e. the rally on long term, high quality bonds). That the market expects growth to tighten:
The Economist | Curveball https://www.economist.com/node/21767839 https://www.economist.com/node/21767839
Gold is not "the only real money", though. There is no such thing as "real money":
> Law thought that the important thing about money wasn’t its inherent value; he didn’t believe it had any. “Money is not the value for which goods are exchanged, but the value by which they are exchanged,” he wrote.
- atq2119 7y agoEven beyond that, there's an argument to be made that money (and debt) are at their core quantified and malleable representations of social relations.
- zeotroph 7y agoIsn't that stretching "social"? The money I hold is not tied to the yet unknown individual or group with with whom I will exchange it for goods or services, the person might not even be born yet.
- pjmorris 7y agoI'm willing to bet a US dollar that at least some of the money you hold is tied to some national group, a government.
- H8crilA 7y agoWell try to imagine there are no people around in 5 years, only you. Or that your country becomes North Korea. Or that the "yet unborn" generation, for some mysterious reason, completely rejects money. What good is your money.
- paganel 7y agoThe money one holds always has ties to the people surrounding its owner, no matter if those people are known, unknown, born or unborn (I honestly didn't understand the thing about the unborn people, as we as a society do lots of societal stuff for the people not yet born), and in that regards money is indeed one of the most social/societal things ever. As a matter of fact sociology itself as a science was partly born as a result of Georg Simmel's book called "The Philosophy of Money" [1], published more than 100 years ago. > Probably considered Simmel's greatest work, Simmel saw money as a structuring agent that helps us understand the totality of life. [1] https://en.wikipedia.org/wiki/The_Philosophy_of_Money https://en.wikipedia.org/wiki/The_Philosophy_of_Money
- notahacker 7y agoThe reason the unknown individual or group will choose to accept it is very much tied to their social and legal relations with other people.
- ftlio 7y ago> representations of social relations What Nick Szabo would call reciprocity, or the delay thereof. https://nakamotoinstitute.org/shelling-out/ https://nakamotoinstitute.org/shelling-out/
- JackFr 7y ago> I'd say about the same as what the inverted yield curves say (i.e. the rally on long term, high quality bonds). That the market expects growth to tighten You know what they say: Inverted yield curves have predicted 10 of the last 7 recessions.