What If the Dollar Falls?

Guille said:
It's a trading bloc moron.
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Nope. It's an acronym.
Guille said:
Digital gold backed currency? Do you understand how fucking stupid you sound right now? How can something be gold backed and currency at the same time?
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I have already answered this question. Do not mindlessly ask it again. RQAA.
Guille said:
Given the definition you already posted...you know...about storing wealth.
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Money isn't wealth. It is merely a medium of exchange of wealth.
Guille said:
You're as bad as the people you think are the problem, in fact you may be worse than them.
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And what people are those?
 
JesusAI said:
money could be digital and gold backed.

there may not be one in existence now, but it could be.

im against all digital currencies as and emp or someone at the server farm could wipe you out, or otherwise connect your financial transactions to the surveillance state and your social credit score and control you.
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Zimbabwe will introduce one on the 8th of May.
 
Guille said:
yes, they were shocked. And why was that? Might Great Britain and the Pound Sterling have had something to do with that? Like I said, good luck getting China to stop manipulating their currency.
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No different than the federal government manipulating it's currency.

Or the Canadian government...or the EU...or the British government...or the UN...or...
 
Guille said:
Inflation doesn't occur at all moron.
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Yes it does. Denying it doesn't change anything.
Guille said:
You can't put 10 gallons of water in a 5 gallon bucket...and we don't even try.
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False equivalence fallacy. Money isn't a measure of volume.
Guille said:
You need to start looking at why supply is being retarded.
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Already known. Democrats and other leftists. Biden is directly responsible for a lot of it.
Guille said:
I love how you fuckwits want to talk about Econ and then the first fucking thing you do is deny supply and demand...Econ 101.
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Economy is not a course or a book. You are still ignoring the actions of the Federal Reserve. You are also ignoring supply and demand in certain markets.
Guille said:
I guess you're smarter than everyone else, either that or you don't know what the fuck you're talking about.
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I happen to be smarter than most on this subject. I created and run my own business. It's products sell all over the world. I am very familiar with international trade. I buy products from all over the world to use as raw materials and sell my products to all over the world. I know what money is and what it isn't (unlike you). I know what wealth is and what it isn't (unlike you).
 
Uncensored2008 said:
That is an astoundingly ignorant post.

What is a dollar worth beyond the salvageable paper pulp and cloth fiber in it?

The ONLY value of a dollar IS the purchasing power. A dollar is worth what a dollar can buy. It has no other value.
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He doesn't understand the term 'store of value' describing money. All the term means is what you just described. The store of value of money is simply that you can buy things with it. The unit of accounting with money is that you can set a price with it.
That's all money is. A medium of exchange. It's just barter, but with a medium of exchange. Instead of finding someone that has a product I want and also wants my chickens, I can simply sell my chickens to anyone willing to buy them for money, then use that money to buy the product from the first person (who didn't want chickens). That way I get the best price for my chickens and get the best price for the item I want to buy.

Money is not wealth. It is merely a medium of exchange, just as you described.


Fiat money has an inherent problem. Although it also acts a medium of exchange, the government can arbitrarily change it's value at any time, affecting the transactions I make while I am making them. Governments institute fiat money because they went broke. They could no longer conduct their transactions in gold or silver. By printing their own money to fund themselves, they can keep the party moving right along. The natural tendency therefore is to inflate the currency to keep the party moving along. Sooner or later, the chips and guacamole runs out, the booze runs out, the band has played all the tunes it knows for too many times, and the party is over.

Some people are already stumbling out of the party trying to figure out what time it is, what year it is, and what the hell happened. (apologies to Douglas Adams)
 
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JesusAI said:
he's a confused libertarian who probably started out really being pro freedom, but got convinced that fiat currency totalitarianism is freedom.

it happens to many.
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What makes you think he's a Libertarian?? After all, you think a lot of people are Libertarians that aren't. This word seems to be your go to insult...a meaningless buzzword.
 
Into the Night said:
Yes it does. Denying it doesn't change anything.
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OK, here's how I'm going to deal with you from now on. One point at a time. I saw that you quoted me 9 times and if I had the ability to see all 28 quotes I had today I'm guessing most of them would be you, and all of them would be total ignorant crap so...we'll start (again) with this; Inflation is not a real thing. What we are dealing with right now is reduced supply with steady demand and that raises prices. You have made it clear that you want to blame higher prices on the Fed but they aren't causing this. Lower supply in conjunction with steady demand is causing the higher prices. And get used to it, this will continue for a few more years. Thank your government for the supply chain shutdown.
 
Guille said:
OK, here's how I'm going to deal with you from now on. One point at a time. I saw that you quoted me 9 times and if I had the ability to see all 28 quotes I had today I'm guessing most of them would be you, and all of them would be total ignorant crap so...we'll start (again) with this; Inflation is not a real thing. What we are dealing with right now is reduced supply with steady demand and that raises prices. You have made it clear that you want to blame higher prices on the Fed but they aren't causing this. Lower supply in conjunction with steady demand is causing the higher prices. And get used to it, this will continue for a few more years. Thank your government for the supply chain shutdown.
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Americans are getting worried about the job market
Bryan Mena, CNN
Updated 12:01 PM EDT, Tue April 25, 2023

Consumer attitudes have held steady since the turbulence in the banking industry last month, but high inflation and economic uncertainty have continued to weigh on consumers.

https://www.cnn.com/2023/04/25/economy/april-us-consumer-confidence/index.html

demand = consumer confidence
 
goat said:
Americans are getting worried about the job market
Bryan Mena, CNN
Updated 12:01 PM EDT, Tue April 25, 2023

Consumer attitudes have held steady since the turbulence in the banking industry last month, but high inflation and economic uncertainty have continued to weigh on consumers.

https://www.cnn.com/2023/04/25/economy/april-us-consumer-confidence/index.html

demand = consumer confidence
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I hate to say it but most Americans couldn't find their butt if it had a bell on it. Our problems today stem from two things: the global supply chain shutdown and nonsensical regulations in the western world.
 
Guille said:
I hate to say it but most Americans couldn't find their butt if it had a bell on it. Our problems today stem from two things: the global supply chain shutdown and nonsensical regulations in the western world.
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Most Americans are maxed out in debt and can no longer feed their demand addiction. Big ticket items like Ford trucks are sitting on the lot marked down $10k. It's going to be a long hot summer.
 
Guille said:
Inflation doesn't occur at all moron.
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Guille, you have been correct on everything in this conversation up to this point.

Inflation happens in every economy. Normal inflation is simply the manifestation of the cumulative opportunity costs. On top of that, the money supply to wealth ratio affects currency value which forces prices to adjust to normalize, i.e. inflation from fiscal policy.

You are correct about the Supply-Demand curve being the basis for all aspects of economics. You get the above when you apply the Supply-Demand curve to money.
 
IBDaMann said:
Guille, you have been correct on everything in this conversation up to this point.

Inflation happens in every economy. Normal inflation is simply the manifestation of the cumulative opportunity costs. On top of that, the money supply to wealth ratio affects currency value which forces prices to adjust to normalize, i.e. inflation from fiscal policy.

You are correct about the Supply-Demand curve being the basis for all aspects of economics. You get the above when you apply the Supply-Demand curve to money.
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No it doesn't. Our currency value is a dollar, no more no less.
 
Guille said:
Who cares? All I know is that isn't Joe Biden. His head changed shape, his eye sockets changed position and his eyes changed color. You go ahead and keep pretending that's Biden if it makes you feel better. Do you need blankets and cocoa?
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Biden is more in charge than I want
 
Guille said:
No, it's not. I just fucking told you what's happening, less supply with steady demand equals higher prices. If you can't grasp supply and demand you shouldn't be in this conversation.
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So your grocery bill has not increased under Biden? You are not paying more for gas under Biden?
 
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