51–60 of 270 posts
Earlier quoted context omitted.
elections have consequences...
[flagged]
Taking on long term debt at or below the risk free rate _is the point._ It didn't devalue the currency because the global economy was structured around buying that debt. You just need to not jeopardize that second point.
Earlier quoted context omitted.
Gold has always been stable, because it is physically limited. It is the fiat currency debasement via unlimited money printing that makes the gold chart go up. Imagine being in Zimbabwe or Weimar Germany and watching your stock portfolio and gold going up...
> Gold has always been stable, because it is physically limited. Incorrect. Physical scarcity matters, but it’s not the main driver. Gold’s price is far more sensitive to interest rates, dollar strength, sentiment and fear, speculative flows. The stability it’s historically shown was mostly the result of fixed monetary systems, and those are long gone.
The fact that this all happened by choice is really something. It's like witnessing a self-decapitation.
You're seeing the result of something that's been decades in the making. You can see a simple table of dollar reserves here. [1] They've been consistently falling year over year for the past 27 years. And it's not like 1999 was anything particular. Rather the uptake leading up to 1999 as a peak was a result of shenanigans that happened in 1971 [2]. That's when the USD became completely unbacked by anything, enabling…
Don't take my word for it. Listen to Mark Carney at Davos.
Earlier quoted context omitted.
> someone too stupid to understand That's only true if he's actually "your guy". There's an alternative where it's not stupidity that I think more people should be mulling over.
Say more
I am actually convinced that the last year started the descent of the U.S. as the world’s super power. No wonder U.S. treasuries lost trust. It’s only going to get worse. It doesn’t matter what some billionaires do/get from their ability to manipulate some powers be. The rest of the investment community understands that free markets are strengthened by rule of law and adherence to the law and deploying a self styled…
Earlier quoted context omitted.
> someone too stupid to understand That's only true if he's actually "your guy". There's an alternative where it's not stupidity that I think more people should be mulling over.
Say more
Earlier quoted context omitted.
That's fair. I agree. I was thinking of the USA as one actor. The USA votes, or chooses not to, and that has effects.
True. In that sense the voters have self decapitated. I can’t understand how the Trump administration still has support from 40% of the country (per polls). I could understand voting for him due to some issue a voter has strong feelings about. But now we have seen it all play out and it’s a disaster leading to national ruin. And there is no talk of impeachment, trials, and accountability for everyone in his circle. S…
America really is in for a wake up call.
The federal government is. We'll see if the founders concept of a union of states is worth as much as it was proclaimed to be.
States can't issue their own currency, they're all going wherever the nation goes on this one.
Earlier quoted context omitted.
It’s not a self decapitation exactly. I think Trump, his family, his corporate donors, and other friends are all willing to sacrifice everyone else - including the lead America had - to make themselves rich and powerful. Every single decision to spend - defense, ICE contracts, AI, approvals of anticompetitive acquisitions, changes to regulations, etc - is making that circle richer at our expense. They don’t care if A…
How does sacrificing America's lead make American oligarchs richer? That doesn't even make sense.
US voters were so worried that South America would come to them, that they have become the worst of South America.