Capitalism Is EVIL!

[Into the Night]

they can decree it illegal to hold gold - which harms its value

in theory, they could decree that gold is worth more than what people feel it is worth - just not for as long as a time as they actually have to now acquire something people value without them decreeing it is of value

No, it doesn't harm it's value. People will simply store it outside the jurisdiction of that government. It is still worth the same value.

 

[zymurgy]

Oddly enough, he is right here. ANY currency, even gold or silver, has value only because of a societal agreement (the market).
While the market is not a collective, it IS a collection of individuals, buying and selling.

The value of ANY product is determined by that same market. It is the same mechanism of price discovery.

only one individual is required for an item to have value what the value is is and will always be individually decided

the concept of a universal market value is some new age redefinition because we have world trade markets to watch and react to

 

[Into the Night]

and congress has given their authority over to the federal reserve, a fascist organization.

you still haven't explained how fiat currency isn't totalitarianism.

your emply elitism fails as a strategy.

He does seem very confused. He has a couple of points he is right on, but mostly he's confused.

 

[Into the Night]

only one individual is required for an item to have value what the value is is and will always be individually decided

Nope. Two. It takes two to tango in the market.

the concept of a universal market value is some new age redefinition because we have world trade markets to watch and react to

I never claimed a so-called 'universal market value' since there is no universal market.
I don't go much for the 'new age' thinking, which is just socialism combined with mysticism (and often mind altering drugs).

 

[zymurgy]

Nope. Two. It takes two to tango in the market.

correct - it takes two to tango, but the seller is like the house - he gets to hold his cards in secret - and the seller is the one that tells others in the market what his value of the good or service is.

 

[Into the Night]

So how did YOU get a job as an engineer?

Blowjobs that important to the hiring manager?

I hold a 1st class radiotelegraph/telephone license. That's required to be an engineer at a radio station.

Of course, credentials are quite meaningless on blind forums such as JPP.

 

[Into the Night]

correct - it takes two to tango, but the seller is like the house - he gets to hold his cards in secret - and the seller is the one that tells others in the market what his value of the good or service is.

Nope. The buyer does too, or the house does not sell.
There MUST be an agreement of two parties for the transaction to take place.

The seller could ask for the Moon, but he won't necessarily sell his out for that.

Further, most real estate transactions require the seller to reveal certain information about the house or face fraud charges. Most counties and escrow houses take a dim view of failing to reveal certain information about a house or property you're selling to the buyer.

I guess you never sold any real estate.

 

[Lao Tse]

This is exactly right. A free market has no government regulating it. It is self regulating.

If prices go too high, people stop buying, and buy something else, or a cheaper alternative from a competitor.
If prices go too low, the businesses are not making a good profit anymore and could wind up going out of business as a result.

A business wants the highest price it can get for it's products.
A buyer wants the lowest price he can get for the products.
The two negotiate (often using a middleman marketeer such as a broker or warehouse (store). Somewhere in the middle they agree on the price.

This is called 'price discovery' and is an inherent component of any free market.

The free market is immortal. You can't kill it, no matter how oppressive a government. It will always exist, even if it's driven into a black market. See your local drug dealer for details. Even he has to compete against other drug dealers and there are plenty of buyers willing to pay that price.

what about monopolies?

all the alleged benefits of free trade are lost in monopoly / cartel conditions.

should monopolies be busted up so free markets can continue to be great?

or are you just a full of shit fascist.

 

[Lao Tse]

correct - it takes two to tango, but the seller is like the house - he gets to hold his cards in secret - and the seller is the one that tells others in the market what his value of the good or service is.

well, he can set a price. if other buy it is up to them.

and then we get into elastic and inelastic demand for instance.

the dream sequence of every corporation is to have a monopoly over products with relatively inelastic demand, like a monopoly on water would be good.

this is when free markets are at their best, when a cartel or corporation gains control of key resources, maybe through force and then ravages the world.

that's when you know you're free-markeing properly.

 

[Kafka]

I hold a 1st class radiotelegraph/telephone license. That's required to be an engineer at a radio station.

I didn't realize you could get one of those in a Cracker Jack box.! Cool.

Of course, credentials are quite meaningless on blind forums such as JPP.

Agreed but you clearly lack intellectual ability to do menial tasks.

 

[Uncensored2008]

Money does not have to be fiat to be money.

True

The faith in the dollar is waning and fast. People are already looking around for another currency. Some are investigating Bitcoin, others are investigating gold, and still others are pushing SDRs.

In my opinion, gold and silver will win out, for the same reasons they won out for thousands of years.

Only if society collapses.

My prediction is that Bitcoin and other crypto currencies will be outlawed and various governments will switch to digital currency so they can manipulate and control it.

 

[Kafka]

My prediction is that Bitcoin and other crypto currencies will be outlawed and various governments will switch to digital currency so they can manipulate and control it.

Because unregulated markets work so well! Which is why Bitcoin can go from thousands of dollars value each to cents in the blink of an eye.

 

[Lao Tse]

True



Only if society collapses.

My prediction is that Bitcoin and other crypto currencies will be outlawed and various governments will switch to digital currency so they can manipulate and control it.

there will be a buyout option, a one time bitcoin to cbdc converson option.

take it or leave it.

then all the Bitcoin libertarian bros will be instant statists.

it will be a good rate to pay off those people.

 

[Uncensored2008]

Because unregulated markets work so well! Which is why Bitcoin can go from thousands of dollars value each to cents in the blink of an eye.

Potentially, so could oil, grain, or thousands of other commodities.

Governments don't like mediums of exchange they can't control. Bitcoin has done better than I ever expected it to - I probably should have invested, but never did.

 

[T. A. Gardner]

Potentially, so could oil, grain, or thousands of other commodities.

Governments don't like mediums of exchange they can't control. Bitcoin has done better than I ever expected it to - I probably should have invested, but never did.

Not true. While the price of commodities can rise and fall, they are tangible things that have intrinsic value because they exist. Bitcoin doesn't physically exist. If the servers the chain block code exist on fail, that coding can disappear. There is nothing tangible with Bitcoin, as several rival products have proven most glaringly with FTX and Scam Bankfraud-Man (Sam Bankman-Fried).

 

[Kafka]

Potentially, so could oil, grain, or thousands of other commodities.

Hence my comment about "unregulated" markets.

Governments don't like mediums of exchange they can't control.

Isn't that part and parcel of a government? To stabilize our markets?

Bitcoin has done better than I ever expected it to - I probably should have invested, but never did.

If one ignores the countless fortunes that have been lost in crypto speculation over the years or how much money has been misappropriated. Sam Bankman-Fried can help you with this.

 

[Yakuda]

Hence my comment about "unregulated" markets.



Isn't that part and parcel of a government? To stabilize our markets?



If one ignores the countless fortunes that have been lost in crypto speculation over the years or how much money has been misappropriated. Sam Bankman-Fried can help you with this.

Unregulated markets work quite well.

 

[Kafka]

Unregulated markets work quite well.

ORLY? Where?

 

[Lao Tse]

Hence my comment about "unregulated" markets.



Isn't that part and parcel of a government? To stabilize our markets?



If one ignores the countless fortunes that have been lost in crypto speculation over the years or how much money has been misappropriated. Sam Bankman-Fried can help you with this.

control is not equal to stability.

sometimes control gets lopsided, out of whack with nature, leading to great volatility.

like a banker bailouts.

 

[Yakuda]

ORLY? Where?

I didn't claim there are unregulated markets. I said unregulated markets work quite well. Markets are regulated but they aren't regulated for economic reasons they are most often regulated in a misguided attempt to make life "fair" and equitable. Price gouging is one of my favorite examples. I laugh every time at that one.