de-dollarization

[Tobytone]

Works for me.

Interest rates for bonds is set by the government issuing those bonds and market forces.

Don't think so. Crypto requires the internet to make a transaction, which isn't available everywhere, and the blockchain problem with Bitcoin is become acute. Further, crypto requires technical knowhow to set up your wallet, and most people don't have it.

I predict a return to gold and silvler commodity currency. It's been trusted for thousands of years for a reason.

Time will tell. The concerns you bring up will be dealt with in the future. We've got tens of thousands of satellites orbiting the globe already, internet access won't be an obstacle. To be clear, when I say "future," I'm talking beyond my lifetime, not the next few years or even a decade.

I know how interest rates are set, and it's a bit more complex than you describe. Our current system has inherent problems, with far too much room for ideological influences. Get the feds out of it completely. If I loan you money, I'll set the interest rate based on many factors, and you can take it or leave it. It's that simple.

I prefer the gold standard over our current system, but don't kid yourself, it only works until a president decides to suspend it, like during World War I or the Great Depression. As long as government controls any part of monetary policy, we're vulnerable to the whims of morons in office. Look at Obama, Biden, or imagine someone like Kamala Harris winning an election. I know they didn't make major changes to our monetary system, but I point them out as examples of people that are not smart enough or good enough to act in our interest. Winning elections doesn't mean you're intelligent, patriotic, or have common sense, in many cases it just means you're driven by self-interest and power, not America's interest or the quality of life for the masses. Scum like them will always do what gets them what they want, more power, and monetary policy is ripe for the picking should they run out of ways to screw things up.

I don't have all the answers to the problems you're worried about, but they can be overcome. Many already have solutions, and we're in the early days. Plenty of smart, patriotic people are working on making it happen. As I said, I see crypto as inevitable if we're serious about limiting government's role in all areas, including monetary policy. Your concerns have not changed my prediction, at least for now.

To be honest, I appreciate your reply and usually enjoy the good debates we sometimes have, but I couldn't give two shits about this right now. Don't take it personally if I don't keep going, thanks for the discussion.

 

[Phyllis Diller]

Your powers of observation underwhelm.


... and all people die ... and all empires crumble.

Only the ones who embrace fiat dumbmess.

This can all be reversed.

You're just a nihilist humanity hater, banker cocksmoker.

 

[IBDaMann]

Only the ones who embrace fiat dumbmess.

All people who rejected "fiat dumbmess" have also died.

This can all be reversed.

... and nobody before you has ever thought of this? Well, please step forward and save the world.

You're just a nihilist humanity hater, banker cocksmoker.

So, I'm not a fascist anymore? Progress!

 

[Into the Night]

Time will tell. The concerns you bring up will be dealt with in the future.

Don't think so.

We've got tens of thousands of satellites orbiting the globe already, internet access won't be an obstacle. To be clear, when I say "future," I'm talking beyond my lifetime, not the next few years or even a decade.

It is still an obstacle. The internet isn't everywhere. The public isn't tech savvy enough. The blockchain problem still remains and it's growing worse.

I know how interest rates are set, and it's a bit more complex than you describe.

Not really. The Fed just votes to set it, and that vote is influenced by Congress.

Interest rates on bonds are NOT interest rates set by the Fed.
Interest rates on bonds are set by Congress and market forces.

Our current system has inherent problems, with far too much room for ideological influences. Get the feds out of it completely. If I loan you money, I'll set the interest rate based on many factors, and you can take it or leave it. It's that simple.

If you loan me money and want to charge interest for it, that interest rate is set by market forces.

I prefer the gold standard over our current system, but don't kid yourself, it only works until a president decides to suspend it, like during World War I or the Great Depression.

Nothing about FDR changed whether a gold and silver standard works. It still works and it always has for thousands of years.
See the Constitution of the United States.

As long as government controls any part of monetary policy, we're vulnerable to the whims of morons in office.

If people decide on another currency, NO GOVERNMENT CAN STOP IT.

Look at Obama, Biden, or imagine someone like Kamala Harris winning an election. I know they didn't make major changes to our monetary system, but I point them out as examples of people that are not smart enough or good enough to act in our interest. Winning elections doesn't mean you're intelligent, patriotic, or have common sense, in many cases it just means you're driven by self-interest and power, not America's interest or the quality of life for the masses. Scum like them will always do what gets them what they want, more power, and monetary policy is ripe for the picking should they run out of ways to screw things up.

None of them can stop it either.

I don't have all the answers to the problems you're worried about,

I'm not worried about problems. The government is...and apparently...you.

but they can be overcome. Many already have solutions, and we're in the early days. Plenty of smart, patriotic people are working on making it happen. As I said, I see crypto as inevitable if we're serious about limiting government's role in all areas, including monetary policy. Your concerns have not changed my prediction, at least for now.

Fine. You're entitled to your opinion. That does not make any of the problems of crypto magickally disappear though.

To be honest, I appreciate your reply and usually enjoy the good debates we sometimes have, but I couldn't give two shits about this right now. Don't take it personally if I don't keep going, thanks for the discussion.

So we agree to disagree, fine. However, you get to live with the consequences of your decision, as do we all.

 

[Tobytone]

Don't think so.

It is still an obstacle. The internet isn't everywhere. The public isn't tech savvy enough. The blockchain problem still remains and it's growing worse.

Not really. The Fed just votes to set it, and that vote is influenced by Congress.

Interest rates on bonds are NOT interest rates set by the Fed.
Interest rates on bonds are set by Congress and market forces.


If you loan me money and want to charge interest for it, that interest rate is set by market forces.

Nothing about FDR changed whether a gold and silver standard works. It still works and it always has for thousands of years.
See the Constitution of the United States.

If people decide on another currency, NO GOVERNMENT CAN STOP IT.

None of them can stop it either.

I'm not worried about problems. The government is...and apparently...you.

Fine. You're entitled to your opinion. That does not make any of the problems of crypto magickally disappear though.

So we agree to disagree, fine. However, you get to live with the consequences of your decision, as do we all.

WTF are you talking about, again, you seem only capable of seeing the immediate conditions. The problems you bring up are true now, but I am talking about the future. I won't have to live with my opinion on this subject, I won't be alive, it's called the future. You were wrong about the OBBB and you're likely wrong about this. Maybe I am, but your arguments are rather limited by your own lack of imagination, I guess. Some has the ability to see the future more than others, I don't think you're one of them. You would likely have been one of the guys that thought the internal engine was a fad and horse and buggy would always be better keeping your buggy business until the bitter end. Horses worked very well for thousands of years, how many are on the streets today? If you don't think the entire globe will be connected in the future, I got ocean front property in Arizona for sale. Seriously, I don't really care and will face no consequences for my opinion, that is unless a left-wing radical scumbag takes a shot at me for them. Don't get me wrong, I love your posts and you're definitely an intelligent thinker, but visionary, jury is out on that one.

 

[Into the Night]

WTF are you talking about, again, you seem only capable of seeing the immediate conditions.

No, we are both talking about future conditions.

The problems you bring up are true now, but I am talking about the future.

What magickal factor do you think will change. Be specific.

I won't have to live with my opinion on this subject,

Everyone does. Toby. You are not unique.

I won't be alive, it's called the future.

You planning on dying tomorrow?

You were wrong about the OBBB

Argument of the Stone fallacy. Void argument fallacy.

and you're likely wrong about this.

I don't think I am. I am going by thousands of years of history supporting my opinion.

Maybe I am, but your arguments are rather limited by your own lack of imagination, I guess.

Oh? I know what cryptocurrency is and how it works. I know that there is no magickal change. It's computer code, doing a specific thing.

Some has the ability to see the future more than others, I don't think you're one of them.

Oh? The civil war that i have predicted for so long is coming to pass as we speak. I know the Democrats will lose this war. My own business is based on my ability to read the market and predict it. I know how to build stuff like cryptocurrency. Everything I plant on my farm is predicting the future.

You would likely have been one of the guys that thought the internal engine was a fad and horse and buggy would always be better keeping your buggy business until the bitter end.

Now you turn to that lame insult? YOU YOURSELF saw the advantage of gold. Now you disparage it???

Horses worked very well for thousands of years, how many are on the streets today?

They have, and they still do, but they put out too much pollution on city streets. Also, we have machines that is the equivalent of 100's or even 1000's of horses doing the work the horse used to do.

If you don't think the entire globe will be connected in the future,

In some ways it already is. That is not the primary issue.

I got ocean front property in Arizona for sale.

I'd rather live in the town built by a guy that bought the London bridge.

Seriously, I don't really care and will face no consequences for my opinion,

Everyone faces the consequences of their decisions and their opinions. You cannot escape it.

that is unless a left-wing radical scumbag takes a shot at me for them.

That DOES seem to be happening more and more. Remember, war has started.

Don't get me wrong, I love your posts and you're definitely an intelligent thinker, but visionary, jury is out on that one.

You want to bet on cryptocurrency. Fine. That's your bet. It's not mine. I'll go with what has worked for thousands of years. I know the problems of cryptocurrency. I have related some of them to you.

I think we can both agree that the fiat currency's days are numbered, and it won't be pretty. When people shift to a new currency, most will be caught utterly flat footed.

To support your argument, the Japanese tending toward cryptocurrency (Bitcoin). It works well there, since the Japanese society is very cohesive and quite gadget happy. I just don't think it will work in the United States.