USD will crash before BTC - page 4. | Bitcointalksearch.org

jjjfff

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Quote from: The Sceptical Chymist on January 06, 2019, 01:58:44 PM

I get the impression OP is a little bit off the deep end as far as his hatred of the Fed

You were unable to make a single point against anything I said in the past threads where we met.

You called your "smart friends" to rebuke stuff I said.

I respect the fact that you're not really informed about real world markets, but you should hold off on trying to diss me instead of the points I make.

Let's focus on things I said rather than on me? Hold your ad-hominem please. I did not call you off on any of the dumb arguments you made (trust me, they're plenty).

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Quote from: deisik on January 06, 2019, 11:24:39 AM

There is no fractional reserve banking today

LOL WUT!

Here are the fractional reserve regulations for banks in the USA: https://en.wikipedia.org/wiki/Reserve_requirement#United_States

The Sceptical Chymist

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Quote from: deisik on January 06, 2019, 10:53:34 AM

People easily forget that money is only an intermediary which is not worth anything on its own, without the "underlying". And being only that, we can remove it from the equation completely and when we do so, we come to understand that it is the economies that matter and their strength, not money or debt representing them. In other words, if fiat monies are going to die, the American dollar will be the last to kick the bucket due to sheer size of the US economy

That's an interesting take. But damn, if money isn't worth anything on its own, why do I have to pay so much in taxes?

I get the impression OP is a little bit off the deep end as far as his hatred of the Fed, but there's a place for people like him in the world. If we didn't have people speaking out against the government, we'd be in trouble. But I've challenged him in one of his other threads and invited others to the discussion, but it's gone nowhere.

So OP, I'll just say that I respect your middle finger being thrust out at the Fed, but I'll remain skeptical about some of the facts you use to support your argument.

Indamuck

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Every fiat currency on Earth has collapsed at some point. The USD will not last too much longer and gold/bitcoin will be taking its place as the reserve currency.

Once we see oil nations refuse to accept USD for their oil reserves it will start a collapse like we have never seen before.

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Quote from: LeGaulois on January 06, 2019, 11:50:21 AM

@deisik

The fractional reserve is still here, the money is still created depending on deposits. That's why the Third Basel Accord comes to avoid the problem with a liquidity crisis. Banks have solvability problems for sure.
Do you call the scriptural money non-existent money or existent?

No, fiat banks don't need deposits to create money. Why should I ever explain it again? This question has been beaten to death already, and still it gets raised now and then. When a fiat bank gives out a loan, its balance gets increased as money is essentially created out of thin air. Why would it need deposits for that? If you don't believe me, read this explanation from the Bank of England itself. I have it in my bookmarks as I am used to constantly hearing that nonsense about FRB from the textbooks

I don't know what you mean by scriptural money

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Quote from: LeGaulois on January 06, 2019, 11:50:21 AM

@deisik

The fractional reserve is still here, the money is still created depending on deposits. That's why the Third Basel Accord comes to avoid the problem with a liquidity crisis. Banks have solvability problems for sure.
Do you call the scriptural money non-existent money or existent?

No, fiat banks don't need deposits to create money. Why should I ever explain it again? This question has been beaten to death already, and still it get raised. When a fiat bank gives out a loan, its balance gets increased as money is essentially created out of thin air. Why would it need deposits for that? If you don't believe me, read this explanation from the Bank of England itself. I have it in my bookmarks as I am used to constantly hearing that nonsense about FRB

I don't know what you mean by scriptural money

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@deisik

The fractional reserve is still here, the money is still created depending on deposits. That's why the Third Basel Accord comes to avoid the problem with a liquidity crisis. Banks have solvability problems for sure.
Do you call the scriptural money non-existent money or existent?

deisik

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Quote from: jjjfff on January 06, 2019, 11:16:19 AM

Quote from: deisik on January 06, 2019, 10:53:34 AM

I think along the same lines mostly

People easily forget that money is only an intermediary which is not worth anything on its own, without the "underlying". And being only that, we can remove it from the equation completely and when we do so, we come to understand that it is the economies that matter and their strength, not money or debt representing them. In other words, if fiat monies are going to die, the American dollar will be the last to kick the bucket due to sheer size of the US economy

Debt is 10 times larger than the US economy.

The US cannot pay the debt. Simple as that.

It's like a credit card bill that will never get paid. Simply rolls over from month to month. Who pays the bill? We do.

You cannot remove money from the equation because of fractional reserve banking. The system is not honest. What you talk about would be true if the system were honest, but it's not.

Money is essential because a bank with 1 million dollars in reserves is free to loan 10 million nonexistent dollars. It's a fraud, simple as that.

In simple terms, you don't know how fiat system works these days

There is no fractional reserve banking today, with fiat money not backed up by anything it loses any meaning. It always amuses me why people continue to repeat the same shit over and over again? It has been explained many times that there are no "10 million nonexistent dollars" as these dollars (credit money) are as "existent" as any other dollars out there. If it is a fraud, then the whole fiat system is a fraud

Regarding the US debt specifically, it is not debt, even though you are made to believe it is. If anything, it is a tax that Uncle Sam has levied on the rest of the world and made everyone think that he actually owes something. Don't fall for the show you see on the TV. And strictly speaking, it is nowhere close to being 10x the economy of the US. Where did you get that number, really?

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Quote from: deisik on January 06, 2019, 10:53:34 AM

Quote from: clrpod on January 06, 2019, 08:16:19 AM

If the whole world is indebted to one another then new money does not need to keep coming in. As long as no country is in a powerful enough position to stop the constant rolling over of debt then it can continue with little consequence. The strong world economies that are funded by this debt will stop the success of any non-debt funded economies by whatever means they can, be that through tariffs or through war.

I think along the same lines mostly

People easily forget that money is only an intermediary which is not worth anything on its own, without the "underlying". And being only that, we can remove it from the equation completely and when we do so, we come to understand that it is the economies that matter and their strength, not money or debt representing them. In other words, if fiat monies are going to die, the American dollar will be the last to kick the bucket due to sheer size of the US economy

Debt is 10 times larger than the US economy.

The US cannot pay the debt. Simple as that.

It's like a credit card bill that will never get paid. Simply rolls over from month to month. Who pays the bill? We do.

You cannot remove money from the equation because of fractional reserve banking. The system is not honest. What you talk about would be true if the system were honest, but it's not.

Money is essential because a bank with 1 million dollars in reserves is free to loan 10 million nonexistent dollars. It's a fraud, simple as that.

deisik

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Quote from: clrpod on January 06, 2019, 08:16:19 AM

If the whole world is indebted to one another then new money does not need to keep coming in. As long as no country is in a powerful enough position to stop the constant rolling over of debt then it can continue with little consequence. The strong world economies that are funded by this debt will stop the success of any non-debt funded economies by whatever means they can, be that through tariffs or through war.

I think along the same lines mostly

People easily forget that money is only an intermediary which is not worth anything on its own, without the "underlying". And being only that, we can remove it from the equation completely and when we do so, we come to understand that it is the economies that matter and their strength, not money or debt representing them. In other words, if fiat monies are going to die, the American dollar will be the last to kick the bucket due to sheer size of the US economy

jeromix

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This is also happening in other country. Yeah you have say much about the cryptocurrency system as a scam. People knownl this also but why still many do invest? This is considered already as gambling. The high risk is there and everyone agreed to it and does know that the system can end. For now people are still determined to earn in cryptocurrency. So they keep.on investing even if it means as scam.

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Quote from: jjjfff on January 06, 2019, 08:04:21 AM

Read this very carefully https://www.marketwatch.com/story/stock-market-investors-its-time-to-hear-the-ugly-truth-2019-01-05

For years critics of U.S. central-bank policy have been dismissed as Negative Nellies, but the ugly truth is staring us in the face: Stock-market advances remain a game of artificial liquidity and central-bank jawboning, not organic growth. And now the jig is up.

It's a ponzi scheme, stupid!

They can't keep printing money forever. The markets are pumped by the FED.

World debt sits at U$ 250 trillion (!!!) right now:

https://www.cnbc.com/2018/07/11/global-debt-hits-a-new-record-at-247-trillion.html

https://www.bloomberg.com/graphics/2018-lehman-debt/?srnd=premium

Nobody is going to pay this debt, EVER. It's never going to get paid. They will roll over, print more money, throw this to the next generation (it's a ponzi, new people need to keep coming in).

By the time our grandsons read this they will be working most their lives just to pay the FED balance sheet.

I think there will be a time for that to happe, but I think Trump is doing his best in order for it not to happen. But I also want Bitcoin to soar and make it more valuable than USD.

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If the whole world is indebted to one another then new money does not need to keep coming in. As long as no country is in a powerful enough position to stop the constant rolling over of debt then it can continue with little consequence. The strong world economies that are funded by this debt will stop the success of any non-debt funded economies by whatever means they can, be that through tariffs or through war.

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Read this very carefully https://www.marketwatch.com/story/stock-market-investors-its-time-to-hear-the-ugly-truth-2019-01-05

For years critics of U.S. central-bank policy have been dismissed as Negative Nellies, but the ugly truth is staring us in the face: Stock-market advances remain a game of artificial liquidity and central-bank jawboning, not organic growth. And now the jig is up.

It's a ponzi scheme, stupid!

They can't keep printing money forever. The markets are pumped by the FED.

World debt sits at U$ 250 trillion (!!!) right now:

https://www.cnbc.com/2018/07/11/global-debt-hits-a-new-record-at-247-trillion.html

https://www.bloomberg.com/graphics/2018-lehman-debt/?srnd=premium

Nobody is going to pay this debt, EVER. It's never going to get paid. They will roll over, print more money, throw this to the next generation (it's a ponzi, new people need to keep coming in).

By the time our grandsons read this they will be working most their lives just to pay the FED balance sheet.

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