Posted on 05/07/2021 3:31:42 AM PDT by zeestephen
As it is with any investment that rises dramatically...you should be reassessing and reallocating on a regular basis.
But generalizations, such as this crap and what Yellen the Troll is always spouting, are fear tactics. If people move their wealth out of the system, they cannot continue to inflate their currencies.
You can practically smell the crap in their pants; they are terrified of losing control.
Take the cash out of your pocket. Now consider that 30% of that did not exist before last year. That is the beauty of FIAT. Countries’ wealth is being diminished every day.
Not having a plan to deal with that is, no offense intended, stupid.
Governments only lose control when another government conquers them. Keep that in mind.
The people who owned Bitcoin prior to their troubles are buying beachfront property for pennies on the dollar.
Your arguments are ill informed and old. You might want to actually read some more about what is going on.
The money printers do NOT ensure they won't print more money with new serial numbers that devalues your fiat money. In fact, they're printing more all the time. The value of your fiat money is what the printers say it is by adding or removing some from circulation.
Cryptocurrencies on the other hand promise you a distinct serial number that's difficult to counterfeit since each transaction tracks the serial number (unlike transactions with bills). Cryptocurrencies offer a fixed number of digital "coins" or at least a schedule of how long it takes to "mine" new ones and how many might be added. The market then determines the value of each "coin".
Governments fear cryptocurrencies because they can peg just how far off their fiat currencies are.
I agree.
The morning they open the sealed indictments that accuse BTC and the others of money laundering, and the arrests start, it all goes to zero.
Nor does paper fiat have intrinsic value. So??
You get to keep all your dollars.
They’ll just be worth.less.
“ Crypto is good for paying bribes, or for buying contraband without records or taxes on the transaction, for moving money across borders without declaring it. ”
It is also used as an investment - and ETFs have been created.
Cash of all kinds has been used for bribes for as long as we have recorded history.
You can buy not just contraband, but mist things
There are records and the IRS TRACKS crypto and requires it be reported
Gains are required to be declared
Transferring $ across the world with crypto is faster, cheaper
The irony of that statement. I have more faith in crypto than I do fiat.
Between Johnson reneging on Bretton Woods and Nixon going off the gold standard, it was only a matter of time.
Were I Russia, I would have looked at cheating on Bretton Woods as an act of war. One Treasury Secretary actually famously said, “It’s our dollar, and their problem.”
So stupid.
Neither does any other fiat currency.
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True. Every fiat currency is based on a shared belief that it has value. Break that confidence and you destroy the currency.
We're in the "all of the sudden" phase of national bankruptcy.
“ Has been my thought that by bitcoin is predictive programming scam. Allow it to rise in value to condition the masses that digital currency is the best thing ever, so that when the Fed moves to digital is will be embraced. Bank of England is already moving toward it.”
My thought too...and so has China.
I believe cryptocurrency are just traps to get people to give up their wealth.
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It’s a 21st century tulip-mania, but without the tulips. Yes, crypto can technically be used to securely trade, if one can only peg its numerical value to an immutable value.
Prior to 1971, the U.S. Dollar was convertible to gold’ gold being an immutable asset. After that linkage was “temporarily” suspended (50 years and counting); surprise surprise, inflation has run rampant.
I agree. I made some money on some different Crypto and got out. You’ll see with thee Dogecoin pump that the big fish will cash out after Musk does the SNL thing this weekend. The price will drive up and then boom, the whales take their profits.
Their great reset requires crypto to be destroyed. Can’t have any workarounds, ya know.
Fiat currency has the intrinsic value of the nation that created it and how well they have managed it.
Zimbabwe has little value and on top of that the nation has mismanaged it’s currency.
The US has tremendous value in everything from government owned land, assets, society, business, etc.
Have elected officials done their best to screw that up? Heck yeah. But there’s a whole lot more value than used electricity held in virtual vaults only accessible via the internet.
40% of all US Dollars in existence were printed in the last 12 months.
Scary, if true.
I do think I saw a chart showing this, a month or so ago.
Yes, at least with the tulip bubble you ended up with a lot of tulips, and not just a thumb drive.
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