4 ms·

I agree with the overall shape of both of the parent comments to my comment, but the main question I have is- what can be done?

aww_dang 6y ago
I can't imagine anything in practical, palatable or pragmatic realm. The idealists usually suggest things like a gold standard. Perhaps a more pertinent question would be: How long can this continue?
- quacked 6y ago
  It's funny, I was just thinking about the gold standard, but of course it couldn't be returned to as that would destroy the valuation of the holdings of the various financial elite. https://wtfhappenedin1971.com/ https://wtfhappenedin1971.com/ (As an aside, the IRA and 401(k) were introduced in 1973 and 1978, respectively- a great way to trick the public into thinking that runaway cash valuation was a valuable move for America.) Many people don't think it will continue for long, which is why everyone's buying guns, I guess.
- jackcosgrove 6y ago
  > How long can this continue? With ZIRP it can continue for a long time. Political intervention will come sooner. Keep your eye on the 2024 election, as that's predicted to be the first election where Millennials and younger will be the majority of the electorate.
cryptica 6y ago
Something will be done about it regardless of whether it is planned or unplanned. The government can't just keep giving corporations a free ride using free fiat credit and expect the currency to retain its value and reputation. The only thing holding the value of the world's currencies right now is coercion by governments. But the system always seems to open up opportunities for contrarians and dissidents to make a profit by going against the flow. The stronger the coercive force is, the higher the risk, the bigger the opportunity - There will always be people willing to take risks, no matter how big because the rewards are always proportional.

4 ms·

I agree with the overall shape of both of the parent comments to my comment, but the main question I have is- what can be done?

by quacked 6y ago

aww_dang 6y ago
I can't imagine anything in practical, palatable or pragmatic realm. The idealists usually suggest things like a gold standard. Perhaps a more pertinent question would be: How long can this continue?
- quacked 6y ago
  It's funny, I was just thinking about the gold standard, but of course it couldn't be returned to as that would destroy the valuation of the holdings of the various financial elite. https://wtfhappenedin1971.com/ https://wtfhappenedin1971.com/ (As an aside, the IRA and 401(k) were introduced in 1973 and 1978, respectively- a great way to trick the public into thinking that runaway cash valuation was a valuable move for America.) Many people don't think it will continue for long, which is why everyone's buying guns, I guess.
- jackcosgrove 6y ago
  > How long can this continue? With ZIRP it can continue for a long time. Political intervention will come sooner. Keep your eye on the 2024 election, as that's predicted to be the first election where Millennials and younger will be the majority of the electorate.
cryptica 6y ago
Something will be done about it regardless of whether it is planned or unplanned. The government can't just keep giving corporations a free ride using free fiat credit and expect the currency to retain its value and reputation. The only thing holding the value of the world's currencies right now is coercion by governments. But the system always seems to open up opportunities for contrarians and dissidents to make a profit by going against the flow. The stronger the coercive force is, the higher the risk, the bigger the opportunity - There will always be people willing to take risks, no matter how big because the rewards are always proportional.