BRICS

[snarlcakes]

The US isn't going to lose major reserve currency status during any of our lifetimes. I've heard this bullshit for decades.... usually from some joker selling gold. But bitcoin bugs have replaced the gold bugs, arguments haven't changed. Neither will results

Based on what? Because we’re Merica? It’s not different this time. You can’t continuously inflate the currency and expect the world to always hold it. We’ve lost 10% over the past two decades and the trend isn’t turning around.

We’re 30+ trillion in debt and have somewhere between 60-90 trillion in unfunded liabilities as baby boomers continue to retire the next two decades. The House just passed an extremely modest proposal to limit government increases to 1% and the chances of it passing are nil. You really think Democrats are going to suddenly wake up and be adults on fiscal policies? Not a f#cking chance. They’ll print, inflate, and the entire world knows it. The World use to be able to trust us.

Also, gold is up almost 50x the past 50 years. I doubt they’re upset with their results. Lastly, none of this means the world is ending or the U.S. is doomed.

 

[snarlcakes]

James Lavish, single digit millionaire, former Yale hockey player, Peter Schiff replica

I forgot to add. He’s nothing like Peter Schiff. Schiff has the same opinion on Bitcoin as you. People always make fun of Schiff, even his own son for his views.

 

[JamieDimonsBalls]

I forgot to add. He’s nothing like Peter Schiff. Schiff has the same opinion on Bitcoin as you. People always make fun of Schiff, even his own son for his views.

All you pay attention to is Bitcoin. Those losers are hardly worth anything. They don’t manage serious money. They are blowhards with a hard on for Twitter and YouTube

 

[snarlcakes]

All you pay attention to is Bitcoin. Those losers are hardly worth anything. They don’t manage serious money. They are blowhards with a hard on for Twitter and YouTube

Your post cracked me up. You sound like an old man.

 

[JamieDimonsBalls]

Your post cracked me up. You sound like an old man.

I’m younger than both of those clowns. I just laugh when people like that get air time because nobody in the industry respects them. They only get the attention from retail investors.

 

[UncleMark]

Your post cracked me up. You sound like an old man.

I hope he's not. Who's going to support me in my old age?

 

[TommyCracker]

Based on what? Because we’re Merica? It’s not different this time. You can’t continuously inflate the currency and expect the world to always hold it. We’ve lost 10% over the past two decades and the trend isn’t turning around.

We’re 30+ trillion in debt and have somewhere between 60-90 trillion in unfunded liabilities as baby boomers continue to retire the next two decades. The House just passed an extremely modest proposal to limit government increases to 1% and the chances of it passing are nil. You really think Democrats are going to suddenly wake up and be adults on fiscal policies? Not a f#cking chance. They’ll print, inflate, and the entire world knows it. The World use to be able to trust us.

Also, gold is up almost 50x the past 50 years. I doubt they’re upset with their results. Lastly, none of this means the world is ending or the U.S. is doomed.

Now hold on Snarl, yes gold is up over 50x's since 1970 but that was from a huge run up in the 70's from ~$35 to $614 in 1980 (after a thirty year drop from 800 to 35).

It's up ~3.2 times since 1980.

1970 $35.86
1980 $614.75
1990 $383.73 😲
2000 $279.29
2010 $1226.66
2020 $1773.73
2023 $1989.73 ??? (Had to get current price from a different site).

As a comparison the nasdaq opened in 1971 at 100.84.

It's currently at 12,227. Which is 121x.

More importantly it's growth went:

1971 $100.84
1980 $151.14
1990 $454.8
2000 $4069 😲
2010 $2269 😡
2020 $8972 😮
Currently $12,227

So if you would have gotten in 1970, 1980, 1990, 2010 2020 and even 2000 (where it got down in the 900's. The 00's sucked!!) you are growing your stache decently and constantly for fifty years (again, the 00's blew donkey D's).

 

[twenty02]

Based on what? Because we’re Merica? It’s not different this time. You can’t continuously inflate the currency and expect the world to always hold it. We’ve lost 10% over the past two decades and the trend isn’t turning around.

We’re 30+ trillion in debt and have somewhere between 60-90 trillion in unfunded liabilities as baby boomers continue to retire the next two decades. The House just passed an extremely modest proposal to limit government increases to 1% and the chances of it passing are nil. You really think Democrats are going to suddenly wake up and be adults on fiscal policies? Not a f#cking chance. They’ll print, inflate, and the entire world knows it. The World use to be able to trust us.

Also, gold is up almost 50x the past 50 years. I doubt they’re upset with their results. Lastly, none of this means the world is ending or the U.S. is doomed.

Gold is not a productive asset. It's at least more productive that bitcoin, as it has some industrial uses.... but its at best a very volatile asset that more or less keeps up with inflation over the long term. It's worth 5x what it was 40 years ago. From $400 to $2k. What a shit return....and volatile as hell during that period.

Real investors buy assets that produce value. The best inflation beater over long term are stocks and real estate.

 

[Spartans9312]

The BRICS countries gdp exceeds the gdp of the G7 countries and that trend is projected to continue. Mexico is considering joining. The US debt to gdp ratio is at WW2 levels and we don't have the manufacturing capacity we did then. We also dont have the people to develop, engineer, and run manufacturing processes because we arent training enough of them.

China owns most of the raw material mines and production needed for batteries. The US doesn't produce nearly enough chips and hardly any semiconductors to meet demand. We will be totally dependent on other countries for energy as we keep transitioning to alternatives.

 

[Sope Creek]

Gold is not a productive asset. It's at least more productive that bitcoin, as it has some industrial uses.... but its at best a very volatile asset that more or less keeps up with inflation over the long term. It's worth 5x what it was 40 years ago. From $400 to $2k. What a shit return....and volatile as hell during that period.

Real investors buy assets that produce value. The best inflation beater over long term are stocks and real estate.

Good post . . .

. . . that said, the reason to have gold isn't as an investment, it is its easy acceptance for goods and/or services. If things go to hell I'd want gold to trade for stuff along my way until a currency gets established. That seems like an alternative explanation for snarlcake's interest in bitcoin.

But bitcoin isn't an established currency, at least not yet.

 

[Cthulhu85]

I see gold and silver it as a store of value. It's been currency for 5000 years. I don't expect to make money on it, I only keep a small percentage. Anyone who owns it to make money is a fool.

I do think silvers floor will increase as we implement more green technologies.

 

[ButHerEmails]

Good post . . .

. . . that said, the reason to have gold isn't as an investment, it is its easy acceptance for goods and/or services. If things go to hell I'd want gold to trade for stuff along my way until a currency gets established. That seems like an alternative explanation for snarlcake's interest in bitcoin.

But bitcoin isn't an established currency, at least not yet.

Do you mean things going “to hell” as in a total economic collapse? In that situation I just can’t see people carrying around gold to trade for goods/services. If things went that bad, the valuable things would be food, water, gasoline, clothing, shit like that. Gold and other precious metals would have no value in a situation like that. I just don’t know how far “to hell” your meaning.

 

[TMFT]

Do you mean things going “to hell” as in a total economic collapse? In that situation I just can’t see people carrying around gold to trade for goods/services. If things went that bad, the valuable things would be food, water, gasoline, clothing, shit like that. Gold and other precious metals would have no value in a situation like that. I just don’t know how far “to hell” your meaning.

If society collapses, lead will be much more valuable than gold for quite a while.

 

[ButHerEmails]

If society collapses, lead will be much more valuable than gold for quite a while.

Maybe even lead with a little gun powder

 

[DANC]

I see gold and silver it as a store of value. It's been currency for 5000 years. I don't expect to make money on it, I only keep a small percentage. Anyone who owns it to make money is a fool.

I do think silvers floor will increase as we implement more green technologies.

Gold is only of value because Aliens came to earth to mine it.

Time to stop the alien influence.

 

[Indianaftw]

Do you mean things going “to hell” as in a total economic collapse? In that situation I just can’t see people carrying around gold to trade for goods/services. If things went that bad, the valuable things would be food, water, gasoline, clothing, shit like that. Gold and other precious metals would have no value in a situation like that. I just don’t know how far “to hell” your meaning.

Ammunition would sky rocket. Jmho

 

[snarlcakes]

Good post . . .

. . . that said, the reason to have gold isn't as an investment, it is its easy acceptance for goods and/or services. If things go to hell I'd want gold to trade for stuff along my way until a currency gets established. That seems like an alternative explanation for snarlcake's interest in bitcoin.

But bitcoin isn't an established currency, at least not yet.

I disagree on your premise. Gold has done well in uncertainty and can be a good investment. The world didn’t end in the 70s and gold was a great investment. The only reason I don’t own it is because I think Bitcoin is a superior asset. Also, gold is a 12 trillion dollar asset class compared to Bitcoin at 600 billion.

 

[Cthulhu85]

Ammunition would sky rocket. Jmho

Good for me then.

 

[snarlcakes]

All you pay attention to is Bitcoin. Those losers are hardly worth anything. They don’t manage serious money. They are blowhards with a hard on for Twitter and YouTube

Does this guy manage enough money?

 

[JamieDimonsBalls]

China’s Economy Might Look Good on Paper, but It Feels Like a Recession

Official data will likely show solid growth in the most recent quarter, but many say conditions in the world’s No. 2 economy are grim.

www.wsj.com

 

[NPT]

How important will it be in 10 years?

That's the million dollar question.... Of course oil will still be needed but 10 years from now I don't think those countries will be near as important as far as oil supply.

 

[Cthulhu85]

And when oil isn't important how valuable will the US dollar be.

 

[Spartans9312]

 

[DANC]

View embedded media

Like a girl fight.

 

[Spartans9312]

Argentine peso plunges after shaggy-haired rightist who admires Trump comes first in primary vote

The Argentine peso plunged Monday after a shaggy-haired 52-year—old anti-establishment candidate who admires former President Donald Trump came first in primary elections that will help determine the country’s next president.

apnews.com

 

[TomEric4756]

Argentina is one of the case studies for the foibles of fiat currency manipulation.
Not sure converting to a dollar par value is even possible today.

 

[Spartans9312]

Argentina is one of the case studies for the foibles of fiat currency manipulation.
Not sure converting to a dollar par value is even possible today.

Latin American politics always amuse me. If the US swings between 3 and 7 on a scale of 1 to 10, they swing from 2 to 8 and with greater frequency

 

[sglowrider]

This is what happens when we elect a brain-dead idiot as President.

Why Joe Biden is the heir to Trump​

The current administration has quietly built upon many Trump-era policies

 

[DANC]

Why Joe Biden is the heir to Trump​

The current administration has quietly built upon many Trump-era policies

That is a great assessment. It's too bad only you and I and a few other open-minded people will read it and understand it. Be prepared to be attacked for posting it.

One thing he left out was Trump's effort to strengthen NATO by forcing other countries to pony up their share of defense spending. Biden benefited greatly from that policy when Russia invaded Ukraine and found they were facing a united NATO - one that was dragged kicking and screaming into a stronger alliance by Trump.

 

[Bloom.]

It's too bad only you and I and a few other open-minded people

 

[DANC]

Appropriate that you would post this, since this is a pic of Ray Liotta's character laughing hysterically in order to toady up to Joe Pesci's character.

 

[snarlcakes]

Argentine peso plunges after shaggy-haired rightist who admires Trump comes first in primary vote

The Argentine peso plunged Monday after a shaggy-haired 52-year—old anti-establishment candidate who admires former President Donald Trump came first in primary elections that will help determine the country’s next president.

apnews.com

This one gets to the point.

 

[Spartans9312]