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Gold overtakes U.S. Treasuries as the largest foreign reserve asset

economictimes.indiatimes.com

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Re: Gold overtakes U.S. Treasuries as the largest foreign reserve asset

#221

Post by ETH_start »

overfeed wrote: post #207
ETH_start wrote: post #136

Earlier quoted context omitted.

If you're familiar with American capital markets and global venture capital, you'd know that it had almost nothing to do with these trade deals. They had a marginal impact. The amount of capital available to startups and established companies at all stages of their development was the main difference. And the difference between the US and EU in that regard came mostly from the US simply not sabotaging itself the way…

> ...that locale would have succeeded, because of the national economic policy it operated inside of. The US policy is about to become a lot more robust and a lot less laissez-faire. Over the decades, the public image of tech CEOs has switched from benign, awkward but genius dorks, to out-of-control bond villains. There's a tech backlash happening in the US, if you've been paying attention, and legislators follow the…

Correct. There seems to be a pretty broad tendency across societies to fixate on reducing wealth inequality. I don't think the U.S. is going to escape it. Taxing the rich is the most popular thing in the world. There's nothing the common man prefers more.

Re: Gold overtakes U.S. Treasuries as the largest foreign reserve asset

#222

Post by fc417fc802 »

AngryData wrote: post #212
fc417fc802 wrote: post #208

Earlier quoted context omitted.

I'm uncertain if I should have included "ultra" there. Point is that the father up the tax bracket you are in this scenario the more of the bill you foot and the larger your monetary incentive to relocate.

But at the same time the more money you make the less paying a bit extra to live where your friends and family are is really that big of a concern. Otherwise why are wealthy people living in and around big expensive cities when they can move to any number of other states and pay a fraction of the cost for housing and services. Many people are sitting on a decades worth of pay or more because they don't want to sell t…

I expect that cost of living as a percentage of income goes down even as absolute prices go up in most cases. Whereas the taxes we're talking about here go up.

Your logic amounts to assuming you can significantly raise the price relative to other states on the basis that they already pay a bit more which I don't think follows. The degree is off but also the relative difference isn't there. Living in an expensive house in a big city is going to cost extra no matter where you do it but the taxes we're taking about will only exist in some of those cities.

Meanwhile the higher up the income ladder you go typically the fewer constraints there are tying you to a particular physical location. On the extreme end, if you make it high enough it can get to the point where you can literally relocate to a different country without much issue and it may be worthwhile for you to do so.

Re: Gold overtakes U.S. Treasuries as the largest foreign reserve asset

#224

Post by washadjeffmad »

gpt5 wrote: post #130
yosefk wrote: post #108

Earlier quoted context omitted.

While we're at it, when did central banks start to buy lots of gold and under which POTUS? Could it have something to do with the freezing of hundreds of billions of some sovereign assets?

There is something awfully bad happening to the internet, including Hacker News. It seems like rage-baiting, polarizing titles and vibe based comments are being upvoted, with no interest in the facts. For example, in this case: 1. The growth of the gold reserve in comparison to US Treasuries have very little to do with growth in gold acquisition, and has everything to do with gold more than doubling in price in a yea…

Side stepping a little, but the Twitter and Reddit exoduses brought in a lot of people with established culture and communication dynamics at discrete periods. I considered writing an extension that collapses comments of accounts based on keywords and creation date, but ultimately decided that was regressive.

I think it's important to recognize how much the world has changed in a short period of time. HN was created when SV was unique, a large fraction of the globe was not on the internet, and web tech was new and novel. Everyone was still figuring out how to handle outreach and networking (I was positive it was a scam when the Omiyadar Network cold contacted me - "who does that?"). Today, I meet kids who made their first commits at the same age I was just trying to find friends in town who had computers. Now, our advanced is their common, and they're growing up primed for engagement-forward networking and self-promotion.

HN isn't a calcified relic of the era when it was created, it's a product of its people. We're seeing the new generations connecting from all over the world at a time when the foundational HNers are fading away, and sometimes when there's friction with my expectations of civility and etiquette in discourse and it feels like the noise is drowning out the signal and I yearn for the smaller, quieter days, I take that as my queue that I need to step back and appreciate that this is their time, too.

Re: Gold overtakes U.S. Treasuries as the largest foreign reserve asset

#225

Post by Gud »

epolanski wrote: post #91
aloha2436 wrote: post #26

America was in practice running an empire that collected tribute from the rest of planet earth in exchange for entries in a database denominated in a currency they controlled and that was accepted everywhere. Really the only way it could go wrong is putting it under the control of someone who doesn't understand the kayfabe...

US will have to refinance $ 10T of debt next year. That's a gargantuan amount of money and I see no scenario in which this won't have quite higher yields than the expiring one, remnant of the low rate decade. With foreigners and hedge funds less prone to buy US debt right now it's going to be quite interesting to see what will happen.

It’s going to be a couple of humbling decades for the USA.

The western world was happy to keep the USA as a global police force, as long as they didn’t step too far out of line and at least paid lip service to international law.

With that gone and now caring only about brazen self interest, there is little reason to support the USA as an ally, so they have been demoted to a trading partner(unwillingly).

Honestly it’s much better to do trade with literally anyone else besides the USA.

Re: Gold overtakes U.S. Treasuries as the largest foreign reserve asset

#226

Post by [deleted] »

Fricken wrote: post #176
rapnie wrote: post #167

Earlier quoted context omitted.

> Everything is politics. This is mentioned often, but is also such a broad generalization that it is not constructive in any meaningful way. If everything is politics, then it can be eliminated from both sides of the equation. Focus on real and immediate problems at hand and providing concrete solutions need not have "politics" label slapped onto it by default, esp. where the ideological infighting this attracts com…

This is just HN. We're explicitly not productive or constructive. We're not solving the world's problems. We're just shooting the shit. This is a forum for wasting time. I guess it wouldn't be HN without the delusions of self-importance.

[deleted]

Re: Gold overtakes U.S. Treasuries as the largest foreign reserve asset

#227

Post by decremental »

whamlastxmas wrote: post #214
bdelmas wrote: post #180

Earlier quoted context omitted.

I think there are less experts on HN than years ago or a decade ago. And the culture of HN is getting slightly changing to a more Reddit culture every year. It’s too bad because it’s the only place I know where you have experts in tech but also in other industries. And where I got very interesting discussions.

People have been claiming HN is turning into Reddit for over a decade to the point it's in the guidelines to not make the comparison

[dead]

Re: Gold overtakes U.S. Treasuries as the largest foreign reserve asset

#228

Post by [deleted] »

vitaflo wrote: post #190
gpt5 wrote: post #130

Earlier quoted context omitted.

There is something awfully bad happening to the internet, including Hacker News. It seems like rage-baiting, polarizing titles and vibe based comments are being upvoted, with no interest in the facts. For example, in this case: 1. The growth of the gold reserve in comparison to US Treasuries have very little to do with growth in gold acquisition, and has everything to do with gold more than doubling in price in a yea…

Reddit has been leaking into HN for years. It’s just finally reached equilibrium.

[deleted]

Re: Gold overtakes U.S. Treasuries as the largest foreign reserve asset

#229

Post by robocat »

em500 wrote: post #187
logicchains wrote: post #101

Earlier quoted context omitted.

>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. Those are only relevant on a shorter timescale; on a long timescale gold's held its value extremely well. The price of a loaf of bread in gold now is still similar to what it was in the Roman Empire 2000 years ago.

> The price of a loaf of bread in gold now is still similar to what it was in the Roman Empire 2000 years ago. That seems pretty unlikely, when the price of a loaf of bread in gold now is less than half of what it was only 3 years ago.

You've picked a shorter timescale.

Re: Gold overtakes U.S. Treasuries as the largest foreign reserve asset

#230

Post by hax0ron3 »

9dev wrote: post #159
hax0ron3 wrote: post #75

Earlier quoted context omitted.

Illegal immigration brings masses of people from more corrupt, disordered, and perhaps lower average intelligence societies into the US in conditions that make it hard for even the ones who are capable of assimilation to assimilate. It also constitutes a massive flouting of the law for the benefit of business, which sets a bad precedent and lowers public trust in institutions. It also contributes to rising racial ten…

> perhaps lower average intelligence societies This is nothing but racism. Intelligence is distributed evenly across humanity. On an unrelated note, how high do you think the rate of American citizens with literacy level 1 is?

Intelligence at least as measured by IQ tests is not distributed evenly across humanity. Intelligence as measured by scientific achievements is also not distributed evenly across humanity. Now, this does not mean that intelligence is necessarily not distributed evenly across humanity. For example, I imagine that Germans in 1 AD probably had about the same innate biological intelligence level as Germans in 1800. Yet Germans in 1 AD had few intellectual achievements, whereas in 1800 were some of the most intellectually achieving people in the world. So clearly there is more going on than just biologically innate intelligence. Yet certainly there is some good reason to believe that some human groups have more innate biological intelligence potential than others. I don't think it's racism to claim this. It would be racism to advocate, for example, for treating a high-performing person like a low-performing person because he comes from a low-performing ethnic group. Which I'm not. Like I said in another comment, my attitude to illegal immigration is neutral. But from the point of view of what is best for the United States as a country, which is different from what I personally want, I think it's probably best to encourage immigration of average-high-intelligence groups rather than average-low-intelligence ones.
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