What If the Dollar Falls?

[Lightbringer]

DEMOCRATS spent the money, not Trump.
DEMOCRATS also started the current economic depression.
They started the last one too.

You are forgetting about the Governors.

 

[Lightbringer]

Inversion fallacy. You are describing yourself again.

Among the factors of inflation is printing money faster than wealth being created through capitalism. Shortages also causes inflation, but the direct cause is overprinting money.

Circular definition fallacy.

No. The dollar is worth less. An egg is still worth an egg (using your own circular method of definition).

There is nothing wrong with tying a currency to a commodity.

Money is not wealth. Money represents value. It doesn't store it.

You really hate being called out on this don't you? I bet you'd be really fun at parties if anyone ever invited you to one.

 

[Walt]

The federal government currently owns 8133 metric tons of gold, worth about $480 million. The current debt is approaching $37 trillion. The federal government is broke.

There is a huge amount of just plain wrong claims here. First off, gold is trading at $1,965 per ounce, or $63 per gram. That would mean $63 million per metric ton, so 8133 metric tons would be worth over $500 billion. Night is off by a factor a thousand. You would think that is the biggest mistake, but it is minor compared to the other two big mistakes.

Almost all America's debts are payable in Dollars. There are a few debts, like the electric bill on the London Embassy owed in other currencies, but they are so minor they can be ignored. Treasury Bonds are not owed in gold, and there is no reason to pay them in gold. In fact, it would be illegal to pay them in gold. They must be paid in US Dollars, as agreed when bought. They must be paid in the US Dollars that the US Government can print themselves, so it is impossible for the US Government to go bankrupt.

Night does not seem to understand what being broke is. You need to have enough money, or credit, to service your loans, not to pay them off. We do not need $32 trillion right now, just enough money to pay expiring bonds. If you have a $200k mortgage, with $20k yearly in mortgage payments, income of $100k a year, and $50k in the bank, you are far, far from bankrupt.

Besides, about a quarter of that debt is owed by the government to the government, which is to say they would end up with that money back again.

 

[Walt]

DEMOCRATS spent the money, not Trump.

trump demanded and received a half trillion dollar slush fund to spend however he wants. On top of that, he got trillions more to spend within budget limits. While at the state level, there were a few Democratic governors, there were more Republican governors spending money. No reasonable person would argue that trump did not spend a lot of money.

 

[Walt]

We are currently in an economic depression, and have been since 2019. It was started by the Democrats (again).
Economic depressions often have higher inflation. The Great Depression saw the dollar devalue to just half it's value (rapid inflation). Velocity also dropped. Do not confuse velocity with value.

The Great Depression started when Republicans controlled all the branches of government. That is not the Democrats. It was caused by rapid deflation, not inflation. Dropping velocity causes deflation, and in turn is caused by deflation. Inflation causes increased velocity, which in turn causes increased inflation.

Once again, Night has gotten every fact wrong.

 

[Walt]

In 1978 my famuly moved to the suburbs and my dad bought our house for $175,000. I can buy that same house today for $140,000. How is that possible?

That must be a house in a neighborhood in collapse. In 1978, the median house price was $55.7k, so your father paid more than three time the median house price (so a nice house of its time). The current median house price is $436.8k, and you say you can buy the house at $140k, or less than a third of the median house price. That is a house that has lost nearly 10 times its value compared to the median house price.

There are a lot of problems that could have happened to that neighborhood in the last 45 years, but all were relatively rare. Can you fill in some blanks?

https://fred.stlouisfed.org/series/MSPUS

 

[Walt]

Why don't the alt right posters just use gold in all their purchases? It would technically be considered barter, but would be completely legal. All they would need to do is find a buyer or seller willing to use gold, and be willing (and able) to use gold themselves.

The obvious problems are:
1) The US Government almost always only accepts US Dollars, but you could get around this by selling some of the gold for dollars.
2) Gold is deflationary, so people will not want to buy with it.
3) Gold has a high amount of fraud involved in it, and is hard to subdivide to useable amounts, so people will not want to sell with it.

You can also use Chinese Yaun, if you can get around the extreme Chinese currency controls.

what if i could force the whole world to use money i printed in my basement?

It is worth noting that the Fed forces no one to use to Dollar. There is no way they could force the whole world to use Dollars. The IRS does only accept Dollars, which forces anyone who owes taxes to use Dollars to pay them, but most of the world will never owe any US taxes.

and now they have the benefit of bill gates buying all the farmland with fake money.

Gates received that real money for real goods and services that Microsoft sold. Gold is not particularly useful compared to those real goods and services. If sellers of farmland do not want that "fake money", they can demand payment in gold.... Or better yet, just buy gold with the money they receive.

 

[Truck Fump / h1b]

Why don't the alt right posters just use gold in all their purchases? It would technically be considered barter, but would be completely legal. All they would need to do is find a buyer or seller willing to use gold, and be willing (and able) to use gold themselves.

The obvious problems are:
1) The US Government almost always only accepts US Dollars, but you could get around this by selling some of the gold for dollars.
2) Gold is deflationary, so people will not want to buy with it.
3) Gold has a high amount of fraud involved in it, and is hard to subdivide to useable amounts, so people will not want to sell with it.

You can also use Chinese Yaun, if you can get around the extreme Chinese currency controls.



It is worth noting that the Fed forces no one to use to Dollar. There is no way they could force the whole world to use Dollars. The IRS does only accept Dollars, which forces anyone who owes taxes to use Dollars to pay them, but most of the world will never owe any US taxes.



Gates received that real money for real goods and services that Microsoft sold. Gold is not particularly useful compared to those real goods and services. If sellers of farmland do not want that "fake money", they can demand payment in gold.... Or better yet, just buy gold with the money they receive.

YOu live in delusional, retarded and willful massive ignorance.

You're what we call a status quo zealot, a most retarded animal.

 

[Truck Fump / h1b]

Why don't the alt right posters just use gold in all their purchases? It would technically be considered barter, but would be completely legal. All they would need to do is find a buyer or seller willing to use gold, and be willing (and able) to use gold themselves.

The obvious problems are:
1) The US Government almost always only accepts US Dollars, but you could get around this by selling some of the gold for dollars.
2) Gold is deflationary, so people will not want to buy with it.
3) Gold has a high amount of fraud involved in it, and is hard to subdivide to useable amounts, so people will not want to sell with it.

You can also use Chinese Yaun, if you can get around the extreme Chinese currency controls.



It is worth noting that the Fed forces no one to use to Dollar. There is no way they could force the whole world to use Dollars. The IRS does only accept Dollars, which forces anyone who owes taxes to use Dollars to pay them, but most of the world will never owe any US taxes.



Gates received that real money for real goods and services that Microsoft sold. Gold is not particularly useful compared to those real goods and services. If sellers of farmland do not want that "fake money", they can demand payment in gold.... Or better yet, just buy gold with the money they receive.

Walt the Banker Jew Is Triggered!

 

[Truck Fump / h1b]

fascism in practice: A tutorial for human garbage.

Having made you pact with satan, it is now necessary to lie nearly all the time.

most of your time will be spent redefining words in an attempt to destroy understanding, however, this practice never works completely, as the mind is not a word matrix, such as a.i. But you must keep doing it anyway. This insane fog emission of intentional dissembly shall be your lifes work, as now you are quite insane, and now fooling yourself, but not god, or your dark master whom you have chosen.

or be free in jesus (or the moral saviour of your choice, see usher for preapproved list).

 

[Truck Fump / h1b]

 

[Walt]

YOu live in delusional, retarded and willful massive ignorance.

You're what we call a status quo zealot, a most retarded animal.

No one is stopping you from accepting, and offering gold in barter for any goods or services.

 

[Into the Night]

You are forgetting about the Governors.

Nope. The governors that locked down their States (or territories) were DEMOCRATS.

 

[Into the Night]

You really hate being called out on this don't you? I bet you'd be really fun at parties if anyone ever invited you to one.

LIF. Grow up.

 

[Into the Night]

There is a huge amount of just plain wrong claims here. First off, gold is trading at $1,965 per ounce, or $63 per gram. That would mean $63 million per metric ton, so 8133 metric tons would be worth over $500 billion. Night is off by a factor a thousand. You would think that is the biggest mistake, but it is minor compared to the other two big mistakes.

This is correct. Typo in my math.

Almost all America's debts are payable in Dollars.

Correct.

There are a few debts, like the electric bill on the London Embassy owed in other currencies, but they are so minor they can be ignored. Treasury Bonds are not owed in gold, and there is no reason to pay them in gold.

A dollar is a unit of weight, OR it can refer to the printed dollar.

In fact, it would be illegal to pay them in gold.

Blatant lie. See the Constitution of the United States.

They must be paid in US Dollars, as agreed when bought.

Paying them by selling gold IS paying in US dollars.

They must be paid in the US Dollars that the US Government can print themselves, so it is impossible for the US Government to go bankrupt.

Blatant lie. Fiat money has no inherent value. It is only a medium of exchange of value.

Night does not seem to understand what being broke is.

Inversion fallacy.

You need to have enough money, or credit, to service your loans, not to pay them off.

You need to have enough assets to pay them off, or you are broke.

We do not need $32 trillion right now, just enough money to pay expiring bonds.

I bet you are in hock up to your eyeballs. Too bad you don't understand your future you've committed yourself to.

If you have a $200k mortgage, with $20k yearly in mortgage payments, income of $100k a year, and $50k in the bank, you are far, far from bankrupt.

Blatant lie. A mortgage uses the building and property for security. It is the asset the loan is secured by. If you fail to pay the mortgage off, and fail to keep up with the payments, THEY WILL TAKE YOUR HOUSE.

Besides, about a quarter of that debt is owed by the government to the government,

Blatant lie. The government does not issue debt to itself.

 

[Into the Night]

trump demanded and received a half trillion dollar slush fund to spend however he wants.

Authorized by Congress.

On top of that, he got trillions more to spend within budget limits.

Authorized by Congress.

While at the state level, there were a few Democratic governors, there were more Republican governors spending money.

Blatant lie.

No reasonable person would argue that trump did not spend a lot of money.

CONGRESS spends the money.

 

[Into the Night]

The Great Depression started when Republicans controlled all the branches of government.

WRONG. The setup for the crash started under Pres Wilson, a DEMOCRAT. The downturn became a depression from knee-jerk reaction by Republicans. The depression deepened and became Great under FDR, a DEMOCRAT.

That is not the Democrats.

It is both, but DEMOCRATS set it up and DEMOCRATS kept it going for 25 YEARS.

It was caused by rapid deflation, not inflation.

Inflation. FDR devalued the dollar by 1/3.

Dropping velocity causes deflation,

No, it doesn't.

and in turn is caused by deflation.

Non-sequitur fallacy.

Inflation causes increased velocity,

No, it doesn't.

which in turn causes increased inflation.

Non-sequitur fallacy.

Once again, Night has gotten every fact wrong.

Argument of the Stone fallacy. Bulverism fallacy.

 

[Into the Night]

The Great Depression started when Republicans controlled all the branches of government.

WRONG. The setup for the crash started under Pres Wilson, a DEMOCRAT. The downturn became a depression from knee-jerk reaction by Republicans. The depression deepened and became Great under FDR, a DEMOCRAT.

That is not the Democrats.

It is both, but DEMOCRATS set it up and DEMOCRATS kept it going for 25 YEARS.

It was caused by rapid deflation, not inflation.

Inflation. FDR devalued the dollar by 1/3.

Dropping velocity causes deflation,

No, it doesn't.

and in turn is caused by deflation.

Non-sequitur fallacy.

Inflation causes increased velocity,

No, it doesn't.

which in turn causes increased inflation.

Non-sequitur fallacy.

Once again, Night has gotten every fact wrong.

Argument of the Stone fallacy. Bulverism fallacy. Assumption of victory fallacy. Pivot fallacy.
The subject is the last two depressions, not the Great Depression.

 

[Into the Night]

Why don't the alt right posters

No such thing. Buzzword fallacy.

just use gold in all their purchases?

Day to day purchases can be handled by silver. That is silver's role originally. Large purchases were made with gold (such as payroll).

It would technically be considered barter, but would be completely legal.

It is not barter, technically or otherwise. Gold is just a medium of exchange when used as a currency. It is the same with silver. It is the same with any fiat currency.

All they would need to do is find a buyer or seller willing to use gold, and be willing (and able) to use gold themselves.

Some do.

The obvious problems are:
1) The US Government almost always only accepts US Dollars, but you could get around this by selling some of the gold for dollars.

A dollar is a unit of weight in gold, as well as a unit in a fiat currency.

2) Gold is deflationary, so people will not want to buy with it.

Non-sequitur fallacy. There is nothing inherently deflationary about gold, silver, or any other currency.

3) Gold has a high amount of fraud involved in it, and is hard to subdivide to useable amounts, so people will not want to sell with it.

Blatant lie. It is easy to test the purity of weight of gold.

You can also use Chinese Yaun, if you can get around the extreme Chinese currency controls.

Why?

It is worth noting that the Fed forces no one to use to Dollar.

I will call this argument 1.

There is no way they could force the whole world to use Dollars.

So?

The IRS does only accept Dollars, which forces anyone who owes taxes to use Dollars to pay them, but most of the world will never owe any US taxes.

I will call this argument 2. You are now locked in paradox. You are also ignoring banking laws.

Gates received that real money for real goods and services that Microsoft sold. Gold is not particularly useful compared to those real goods and services.

Silver is, though. So are fiat dollars.

If sellers of farmland do not want that "fake money", they can demand payment in gold....

Fiat money is not fake money.
Some real estate sellers DO demand payment in gold.

Or better yet, just buy gold with the money they receive.

More common, but usually they just buy land again.

 

[Into the Night]

Walt the Banker Jew Is Triggered!

Bigotry.