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Old 05-03-2023, 04:32 AM
 
106,579 posts, read 108,713,667 times
Reputation: 80063

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Quote:
Originally Posted by Taggerung View Post
All fiat currencies are essentially garbage, but the USD is the most rotten of them all.
really , so central banks all over the world want to hold the rottenest currency ..

NEWS FLASH -we are still the best horse in the glue factory
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Old 05-03-2023, 06:12 AM
 
Location: Pennsylvania
31,340 posts, read 14,247,595 times
Reputation: 27861
Quote:
Originally Posted by mathjak107 View Post
the fed has no political affiliation .

put blame where it belongs.

they didn’t see the unintended consequences of their actions or lack of actions.

having banks making long term loans at low to zero rates was bound to bite them when they reversed direction
Just who regulates the banks, mathjak? it's the executive branch that is responsible.
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Old 05-03-2023, 06:21 AM
 
Location: Flyover part of Virginia
4,232 posts, read 2,454,501 times
Reputation: 5066
Quote:
Originally Posted by mathjak107 View Post
really , so central banks all over the world want to hold the rottenest currency ..

NEWS FLASH -we are still the best horse in the glue factory
Yes, people want USDs- due to brand recognition and brand loyalty. Brand recognition/loyalty are the only things the USD has going for it.
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Old 05-03-2023, 06:53 AM
 
14,400 posts, read 14,286,698 times
Reputation: 45726
Quote:
Originally Posted by BeerGeek40 View Post
Perhaps instead of trashing his post, you would like to refute it with facts instead.

Bottom line is, our horrible political leadership is about ready to implode the system.
You entitled to your opinion. I think the Fed is doing a good job. I think bank failures are quite limited. Plus, the rate of inflation has fallen from 9% annually to between 4% and 5% because of Fed policy.

Frankly, I am sick of certain people using this forum over and over again to recite weird ideas about our entire financial system collapsing and/or the dollar becoming worthless. I joined the forum back in 2009. These ideas were common than. The system didn't collapse. The same ideas are still being spouted today. When it doesn't happen those same people either magically disappear or keep telling us something like "just you wait". I see it as meaningless garbage.
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Old 05-03-2023, 07:02 AM
 
Location: Pennsylvania
31,340 posts, read 14,247,595 times
Reputation: 27861
Quote:
Originally Posted by markg91359 View Post
You entitled to your opinion. I think the Fed is doing a good job. I think bank failures are quite limited. Plus, the rate of inflation has fallen from 9% annually to between 4% and 5% because of Fed policy.

Frankly, I am sick of certain people using this forum over and over again to recite weird ideas about our entire financial system collapsing and/or the dollar becoming worthless. I joined the forum back in 2009. These ideas were common than. The system didn't collapse. The same ideas are still being spouted today. When it doesn't happen those same people either magically disappear or keep telling us something like "just you wait". I see it as meaningless garbage.
A. Free speech, we will say what we want.

B. The system came very close to compete collapse in 2008 when it became obvious that AIG (remember them??) couldn't pay out what they promised to pay out in the event of a payment collapse. So guess where they had to go crying to? Yep - the federal government aka Uncle Sam.

C. Have a nice day.
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Old 05-03-2023, 07:30 AM
 
4,935 posts, read 3,044,617 times
Reputation: 6727
Quote:
Originally Posted by Taggerung View Post
All fiat currencies are essentially garbage, but the USD is the most rotten of them all.

I think people in Venezuela would disagree.
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Old 05-03-2023, 07:34 AM
 
Location: Flyover part of Virginia
4,232 posts, read 2,454,501 times
Reputation: 5066
Quote:
Originally Posted by Sunbiz1 View Post
I think people in Venezuela would disagree.
On a fundamental level we are financially much worse off than even Venezuela.
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Old 05-03-2023, 07:40 AM
 
14,400 posts, read 14,286,698 times
Reputation: 45726
Quote:
Originally Posted by Taggerung View Post
On a fundamental level we are financially much worse off than even Venezuela.
I think I will archive this. It shows just how detached from reality some posters get.

I just got back from Argentina. One US dollar there will buy you 469 pesos. The peso at one time was on par with the dollar. I think the old USA isn't doing too badly.
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Old 05-03-2023, 07:45 AM
 
Location: Flyover part of Virginia
4,232 posts, read 2,454,501 times
Reputation: 5066
Quote:
Originally Posted by markg91359 View Post
I think I will archive this. It shows just how detached from reality some posters get.

I just got back from Argentina. One US dollar there will buy you 469 pesos. The peso at one time was on par with the dollar. I think the old USA isn't doing too badly.
$96T in total debt plus $187T in "unfunded liabilities." We are totally bankrupt.
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Old 05-03-2023, 07:49 AM
 
Location: Pennsylvania
31,340 posts, read 14,247,595 times
Reputation: 27861
Quote:
Originally Posted by Taggerung View Post
$96T in total debt plus $187T in "unfunded liabilities." We are totally bankrupt.
Fire up the printing presses!
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