wintersFright

16 ms·

91.
by wintersFright 13y ago
They are a strong component of the European Union which is designed to act as a large trading block and compete with the US. The Euro is a competitor to the US Dollar. As the Euro displaces the USD throug out Europe, the US loses more of it
92.
by wintersFright 13y ago
Working in a .NET corporate dev shop, I'm shocked how many .NET devs now run MacOS at home as their primary OS. It starts out as a mac for some iPhone dev and then they just use MacOS by default and Windows in a VM when they need to.
93.
by wintersFright 13y ago
yep - it also just means that right up until a bank holiday and your account is frozen, the official line will always be everything is fine, the bank is well capitalised and there is nothing to worry about...unless you are well connected in
94.
by wintersFright 13y ago
"When it becomes serious, you have to lie" - Jean-Claude Juncker, Luxembourg PM and Head Euro-Zone Finance Minister http://blogs.telegraph.co.uk/news/davidhughes/100087136/he-m...
95.
by wintersFright 13y ago
The value in USD of BTC comes from the supply and demand of people exchanging it for USD. So the value is derived from usage, not the cost of what it took to mine. How much does it cost the Fed to mint a USD? The gap in cost/value is called
96.
by wintersFright 13y ago
The USD is the global reserve - therefore it is needed in vastly greater quantities to lubricate global trade than would otherwise be needed internally. To buy oil, France needs to export to the US in order to obtain USD to purchase off oil
97.
by wintersFright 13y ago
Interesting point. Wouldn't an individual Frenchman see a USD as a token for metal until the shock? And until the shock, national currencies circulated at a fixed exchange with the USD - thereby his own currency was effectively gold backed?
98.
by wintersFright 13y ago
Actually 39 years. The USD was a token for gold until Nixon shock.
99.
by wintersFright 13y ago
Agree BTC is way too unstable but being the the best nag in the glue factory doesn't mean much. USD collapse would certainly be a far reaching global event but that doesn't mean it will not happen. I'm sure all prior entities with reserve s
100.
by wintersFright 13y ago
I see your point - the principal is repaid but the interest stays in circulation. Agree mortgages didn't pop due to being paid back.
101.
by wintersFright 13y ago
Will people want to borrow in defalationary biased currency though? Better to borrow in Bernanke Bucks where there is an unstoppable torrent being emitted monthly. IMHO the Real estate bubble was from the Fed bailing the prior tech bubble b
102.
by wintersFright 14y ago
Sounds like a few steps faster than the inevitable death of a gold standard: Gold coins, then bank storage, then gold lending, then gold certificate use, then lending of certificates, then certificates are declared paper money, then overpri
103.
by wintersFright 14y ago
ha. looks like we are actually mostly in agreement then. Lets meet back here in a year to review our respective plays :)
104.
by wintersFright 14y ago
Given the young age of bitcoin then I would still suggest that buying and holding is still speculation. Good luck to you. Keep in mind though that the scale of your savings compared to others. What if Bill Gates wanted to sink some of his s
105.
by wintersFright 14y ago
The fact that gold is so useless is what makes it so perfect as a sink for deferred wealth. Savers do not infringe on anyone else. If savers decided to hoard farm land...then farm produce would go up. Bakeries...same effect. Note I'm not a
106.
by wintersFright 14y ago
ok - won't get into US default / debt argument as we are too far apart on that. I'll just say that it is a lot more than 'no one' expecting and preparing for a failure there. It is not a mainstream view - though mainstream didn't predict th
107.
by wintersFright 14y ago
when credit collapses (which is what this is) then the price of things bought on credit will collapse. Real estate will not be a good store of value in the short term. Long term it is an excellent asset but don't think it will hold value th
108.
by wintersFright 14y ago
ok I get what you're saying but your use of 'fiat' to describe gold is not the right word to use. fiat means by government decree. gold is valued by people as a wealth asset - and I agree it's value only comes from the knowledge that other
109.
by wintersFright 14y ago
offset accounts are common in Australia http://www.news.com.au/money/banking/offset-accounts-help-lo...
110.
by wintersFright 14y ago
'fiat' metal = metal by government decree?? fiat currency is intrinsically overvalued as it is valued by decree - by the threat of legal violence if you don't use it. There are no fiat metals. Your pessimist view is at the extreme end of th
111.
by wintersFright 14y ago
the lenders are - ultimately - the depositors.
112.
by wintersFright 14y ago
I think the term "assets" in "all the worlds physical assets" doesn't mean all physical items in the world - including baskets of half ripe banana's, but things like durable, enduring, tradable wealth assets. ie: precious metals, collectabl
113.
by wintersFright 14y ago
There is always a bank holiday when these things are announced - otherwise you would see real chaos!
114.
by wintersFright 14y ago
To paraphrase Silvio Gesell, an economist in favor of symbolic currency almost a century ago, "All the physical assets of the world are at the disposal of those who wish to save, so why should they make their savings in the form of money? M
115.
by wintersFright 14y ago
Goverments steal purchasing power already via targeted 2% inflation. There is a precedent already - this is just a different way to skin the cat (or more to shear the sheep!)
116.
by wintersFright 14y ago
At the end of the day you have two camps: debtors and savers. You can't force a tractor factory to make a factory once it has closed down ie: you can't force a debtor to pay debt they want to default on. The only way to rebalance the syste
117.
by wintersFright 14y ago
an old lesson that has been forgotten needs to be relearned. Money is not meant to be saved. Money is for earning and spending. Saving should be done in real tangible assets.
118.
by wintersFright 14y ago
Physical gold bars are not money but a phyiscal, tradeable asset. It cannot be inflated except via mining - but even then there are roughly known quantities of metal in the ground that are then liberated. What can be inflated however is pap
119.
by wintersFright 14y ago
there is no intrinsic value, but if one produces more than one consumes then one must save their excess production by some means. One could hoard potatoes but thereby deprive some people of eating. plus they have a shelf life. so potatoes a
120.
by wintersFright 14y ago
yes they confiscated domestic gold. but confiscating another sovereign's would be an act of war. A lot of US treasuries held by Central Banks in reserve might suddenly go on sale and send interest rates sky high...destroying the USD. They

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