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Old 06-03-2020, 12:13 PM
 
10,547 posts, read 4,580,802 times
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Quote:
Originally Posted by Neo The One View Post
Do you ever actually provide any useful information or do you just post critical remarks about others?
His is an important point.

https://mythfighter.com/2009/11/24/f...ing-time-bomb/

The reason the the USD is no danger is because of world demands. And there is no other currency even on the horizon to supplant it. So it is not just the dollars that reside in the general circulation of the USA, but the USD's that reside in circulation all over the world, and moneys not in circulation in the USA and all over the world.

Thousands upon thousands of communities, cities, countries, banks, other financials and big businesses all over the world rely on the USD and USD denominated debt. Not to mention people of and in power, politicians, the rich and other crooks and thieves world over with their stashes.

It will take more than USD numbers alone in the world to collapse the currency. It would take an additional major global chaos. War, asteroid, physical national destruction of our productivity, war machine and rule of law.
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Old 06-03-2020, 12:24 PM
 
1,910 posts, read 708,760 times
Reputation: 6067
Quote:
Originally Posted by Taggerung View Post
Crypto currencies are problematic for many, many reasons, but perhaps their biggest issue is the immensely complex and high-tech networks and infrastructure needed to sustain them. If things get very bad in this country those could easily fail, completely or partially.

All paper assets (including real-estate) will be devastated in this crisis. At this point, the precious metals are the only way to protect yourself from being financially raped. I think silver has tremendously more upside potential than gold. Yet it is completely neglected and unloved at the moment...
I worked in IT (design and programming) in my prior life and hadn't even thought about the fragility of cryptos as they are completely dependent on tech. But so are modern currencies.

National currencies, i.e. those required to pay taxes, usually collapse vis-à-vis other currencies, and since ALL currencies today are fiat and ALL Central Banks are ready, able and willing to create money endlessly I do not foresee a US$ collapse coming anytime soon.

But inflation? Likely. And evident now in assets such as RE, equities, ...you name it.
So despite (perhaps because of?) the massive quantitative easing by all the big players wealth will become even MORE unequal than it is today!

I believe the poor will be subsidized and bought off and become ever more dependent on governments.
Which will be controlled, for the most part, by the rich elites of all political and ethnic persuasions.

I hope I'm wrong.
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Old 06-03-2020, 12:57 PM
 
Location: Guadalajara, MX
7,491 posts, read 3,644,311 times
Reputation: 14295
Quote:
Originally Posted by Neo The One View Post
Then he should offer some useful commentary on why a collapse is not coming instead of just constantly going around saying critical remarks here without any substance. Disagree and then expand on why you disagree.
I never said a collapse was not coming, nor did I say it was coming.

I'm interested in when others think it's coming. A prediction of something coming some forever undefined time frame is pretty useless.
- I predict the Brewers will win the world series someday.
- I predict someday the Bewers will go 100 years without winning a single game.

[Mod cut: personal]

Last edited by elnina; 06-05-2020 at 09:27 AM..
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Old 06-03-2020, 01:14 PM
 
10,547 posts, read 4,580,802 times
Reputation: 2153
Quote:
Originally Posted by PamelaIamela View Post
I worked in IT (design and programming) in my prior life and hadn't even thought about the fragility of cryptos as they are completely dependent on tech. But so are modern currencies.

National currencies, i.e. those required to pay taxes, usually collapse vis-à-vis other currencies, and since ALL currencies today are fiat and ALL Central Banks are ready, able and willing to create money endlessly I do not foresee a US$ collapse coming anytime soon.

But inflation? Likely. And evident now in assets such as RE, equities, ...you name it.
So despite (perhaps because of?) the massive quantitative easing by all the big players wealth will become even MORE unequal than it is today!

I believe the poor will be subsidized and bought off and become ever more dependent on governments.
Which will be controlled, for the most part, by the rich elites of all political and ethnic persuasions.

I hope I'm wrong.
In my long experience, you are correct on all counts!
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Old 06-03-2020, 01:31 PM
 
Location: Heart of flyover America
643 posts, read 255,042 times
Reputation: 1222
Quote:
Originally Posted by lieqiang View Post
When?

Surely you have a date in mind since you're telling me to start preparing. We've had people in these forums saying currency collapse is around the corner for over a decade, so a wee bit jaded with the random someday horizon thing.
Don't be jaded. Have some patience, because when it does happen, it will be the biggest event in the history of man since the Great Flood.
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Old 06-03-2020, 02:22 PM
 
Location: Guadalajara, MX
7,491 posts, read 3,644,311 times
Reputation: 14295
Quote:
Originally Posted by Taggerung View Post
Don't be jaded. Have some patience, because when it does happen, it will be the biggest event in the history of man since the Great Flood.
So... not interested in giving a date? Just have patience because someday something bad will happen?
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Old 06-03-2020, 02:29 PM
 
10,547 posts, read 4,580,802 times
Reputation: 2153
Quote:
Originally Posted by Taggerung View Post
Don't be jaded. Have some patience, because when it does happen, it will be the biggest event in the history of man since the Great Flood.
That biggest event would be the global catastrophe that caused physical destruction. And that would lead to a useless currency.
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Old 06-04-2020, 01:48 AM
 
20,867 posts, read 5,268,287 times
Reputation: 7104
Quote:
Originally Posted by g500 View Post
Can the Federal Reserve, at any time, just click a button and digitally add say $1 trillion to their account, and use it to purchase Treasuries, bonds, ETFs, etc.? Basically, can the Fed conjure-up any sum of money at their own whim?

Seems pretty crazy if they actually have that authority. Shouldn't (Is?) Congress be involved in controlling the nation's money supply? I guess as long as they avoid inflation I am fine with the arrangement we have, as most people probably would be.
yes
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Old 06-04-2020, 07:33 AM
 
2,600 posts, read 990,345 times
Reputation: 6538
It appears the central banks have taken a page from the WWE and started a round of tag-team monetary stimulus. The ECB announced a €1.4T bond purchase program in coordination with the Fed and BoJ’s ongoing debt purchases. It’s like the old
SNL skit with Hans and Frans...

The issue now is how the central banks will eventually unwind and sell all of these $trillions of bonds and loans without further disrupting financial markets. I know many see themselves as “momentum” investors and BTFD is their mantra, but it seems this latest action by the CBs makes a mockery of the whole concept of markets.
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Old 06-04-2020, 10:21 AM
 
4,587 posts, read 1,944,372 times
Reputation: 2952
Quote:
Originally Posted by g500 View Post
Can the Federal Reserve, at any time, just click a button and digitally add say $1 trillion to their account, and use it to purchase Treasuries, bonds, ETFs, etc.? Basically, can the Fed conjure-up any sum of money at their own whim?

Seems pretty crazy if they actually have that authority. Shouldn't (Is?) Congress be involved in controlling the nation's money supply? I guess as long as they avoid inflation I am fine with the arrangement we have, as most people probably would be.
Technically yes. Even banks can do it. Now after march, I think the fractional reserve requirements has been set to 0 after march . So even if they have 0, they can still lend some 100$ and make interest on it.

"Fractional reserve banking is a system in which only a fraction of bank deposits are backed by actual cash on hand and available for withdrawal. This is done to theoretically expand the economy by freeing capital for lending."

https://medium.com/navigating-life/w...l-c501432e9be6
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