China, russia, japan and others have implemented "US de dollarization" policies over the past 10+ years.
They've drastically reduced holdings of US bonds, dollars and debt. The federal reserve is now the largest holder of US bonds.
Its not the most equal relationship in global affairs, seeing as how the federal reserve (probably) loans free cash to foreign banks to stimulate foreign economies. While foreign nations are unwilling to do the same for the united states.
Do you not recognize the folly of premise a belief or economic view on something that you don’t know happens? If you have any evidence to suggest the Fed loans free cash to foreign banks, that’s one thing. But you’re just throwing unsubstantiated ideas out into the ether and then using that to conclude something isn’t right (in this case, the lack of reciprocity.) |
|
|
|
I am wondering about the reward points regarding redeeming hardware like an Apple IPhone 11 Pro Max (512 GB)... It costs 33,333,333 RP ... 1 RP = 1 satoshi ... so an Apple IPhone 11 Pro Max (512 GB) will cost 0.33333333 BTC... Who the hell pays almost $3,500 for a phone that costs round about $1,500?! Maybe you should adjust your needed RP for this  They are not selling its just a promotion if someone reach on required Reward Points then he can buy or if not then he can cashout these Reward Points without any problem as minimum requirement is 100,000 Rewared Points for cash out. Even for a "promotion" it is pretty stupid to offer an Apple IPhone 11 Pro Max (512 GB) for double the price you can buy it for in a normal shop - just imagine BTC goes up to $20,000 or even higher .. then you can get an iPhone for like $6,000+ !!! EDIT: just saying they should adjust the required RP needed to get any hardware in their offerings If you don’t want it, don’t redeem for it. Nobody is forcing you to. It’s over priced so it’s buyer beware, same as literally every other consumer interaction everywhere else someone is selling something. If you’ve got that many RP, you could redeem them for btc, transfer it off site and buy the iPhone at a more reasonable cost. Since RP are just an extra rewards program anyway that doesn’t need to be offered, criticizing it is a bit much. |
|
|
|
There will also be Cybersecurity issues and Price volatility and lack of inherent value.
Cybersecurity is probably the least of an issue for bitcoin. However I don’t see bitcoin ever overcoming price volatility. Lack of inherent value is arbitrary. That risk is with the US dollar as much as bitcoin. Both only have value because everyone agrees they do. Value stability is the most important aspect of a currency, so unless we enter hyperinflation in the US, the dollar is always going to be a superior currency. |
|
|
|
Well, the reason is because those companies lost a certain amount of money (and will lose) because of pandemic but they also got a lot of money from the government in handout form (called bail outs most famously) and they also got loans that are so cheap that it might as well be interest free and it is so long that basically it is like giving someone a billion dollars paid in a million dollars per month for the next god knows how long and just get 1.1 billion back instead. Even inflation is better than that.
So, yes companies were in a bad situation but government found a way to keep them up by screwing everyone else in the country, not a good method but there was nothing we could do to stop them so we ended up with companies saved before humans.
Don't forget that most of the big companies received financial aid from the government, this means they have to fire less people and more people receive their monthly wages. For the government it's easiert to give money to the big corporations than send every person a check home. As the more people are in employment will keep the economy running. The real problem comes when people stop spending and save almost all of their wages. With less money in circulation we will see the companies have to cut back eventually which will just make everything worse. It's a downward spiral which so far didn't start yet to a full extend. That's why the stocks are doing so good. This can’t be the reason. There have been real and pronounced declines in the economy despite government attempts to stimulate. Companies are less profitable now than they were pre-covid (in aggregate, there are certainly some individual winners in this) but stock prices have continued to go up. So there is a disconnect between earnings and stock prices. What explains the disconnect is the liquidity the Fed is forcing into the market. It’s forcing yields way down and forcing stored wealth to chase returns elsewhere, in this case equities. That’s why prices are rising while the economy is in tatters. |
|
|
|
Does correlation equate to causation in this case. From past history we know banks closed accounts of hundreds of porn stars for no apparent reason.
With banks becoming more crypto currency integrated, it could naturally follow they would temporarily crash the price of bitcoin, for whatever reasons they've often decided to make life harder for pornstars and adult entertainers in the past.
How would the causation work in your mind here? A new website is taking crypto and the price declines. How are the two related? No, there is no cause here. These two events are not related. Further, there’s no correlation here either. For a correlation to exist, there needs to be multiple data points showing a trend. This is 1 data point. At best you can call this a coincidence. |
|
|
|
|
What’s with all the people who think China created the virus? Originated does not mean invented. There is no proof it was invented. There is no proof it was intentionally released. What, you think some group is dumb enough to release a virus nobody can control out into the world just for giggles? What’s the end goal? “We invented this virus we can’t control or cure, let’s release it into the general population and all take our chances on who is going to die.” Does that sound likely to you?
|
|
|
|
There was a large scale disruption in the economy and the labor force. The line down is always a a lot smoother than the line up. Nobody should expect the recovery to be as smooth as the decline. Economies don’t work that way. Think of a giant boulder dropped into a pond. The initial wave is big, and each successive wave is smaller. But it moves up and down in smaller waves as it smoother back to equilibrium. The economic recovery will kind of be like that. Two steps forward, one step back. As long as the long term trajectory is still positive, that’s about all we can hope for. |
|
|
|
Crazy world! First problems during the pandemic was when toilet paper was out and people started stock piling soap and toilet paper at home like crazy. It makes sense that food will be the main issue during the second and third wave of corona. Better to prepare ourselfs already and building up stockpiles. This will be so sad once people start selling a bag of apples for 100$. We should try to become self suficient again as a nation and not rely on imports all around the world.
The extended shortage of toilet paper was caused by a sudden shift in consumer demand. The country didn’t suddenly start using more, it’s just the place where demand originated changed. Production capacity is more than adequate, but it was split between industrial production and personal production (i.e., work and home). When offices and businesses suddenly didn’t need the industrial production anymore, producers had to shift production to meet the i teases home consumption. That takes time, the supply chains are large. But things have reached an equilibrium again. As it goes for food production, we’re not really reliant on the rest of the world, so there’s no concern there. The US produces enough to feed itself and is a net exporter of foodstuffs. I do agree with the 1st statement, people suddenly panicked to buy products that they thought they would need to survive the 1st part of the pandemic that results to overshopping of products they think that they need to stock as soon as the pandemic starts, needlessly thinking that most of the people in the country are in the same shoe. thus leading to shortage of products such as toilet papers, and soaps. as for the 2nd part, I do not really agree for before, the US can produce enough to feed itself, but given that the world is in the state of pandemic, and US currently has 2.5 million active cases, the productivity of farms is affected by the virus, and the fear that the pandemic gives is really alarming. Though we can say that US will last for a period of time but will scarce if the pandemic continues. This ignores how much food waste there is already in the United States. We’re nowhere close to starving. Not being able to get the type of meat you want is not the same as not having enough food to survive. People are inconvenienced by the disruptions to the food supply. Nobody is in danger of going hungry for lack of food. Out of necessity, there’s a lot of efficiency to be wrought out of the current system before a danger of hunger is even seen on the horizon. |
|
|
|
Interesting thing to see people being able to think like this. I mean I knew that there are people who like tin foil hat type of thinking and why not, they are usually either not hurting anyone or they are just hurting other idiots like them so it is not really a big deal most of the time.
But, this is the same type of thinking that brought us the anti-vaccination people as well, it is a scientifically proven thing that vaccine doesn't cause autism and even if it does at a very tiny minor case, the otherside is death, so I rather have 50%!! (which more like 0.0006% even according to idiots who believe it, the reality is 0%) autism chance over 100% chance. So lets hope that these "covid is not real" type of people do not really start to hurt other people as well and cause more death.
These anti-vaccination nuts always existed, even before the outbreak of this pandemic. They are in such low numbers, and therefore in normal circumstances they don't cause much damage. In a society, if 99.99% of the population is vaccinated, then the chances are that the remaining 0.01% may remain safe from the pathogens (because most of the germs need human to human transmission). There are enough anti-vaxers to be wholly damaging. The Unites States is full of them, and the internet allows them to all find each other and live in an echo chamber of delusion where they all rule themselves up to believe vaccines are ineffective or a hoax or nefarious or any number of other untrue and stupid things they believe. There are enough of them to threaten to nullify hear immunity. I wish we could send them back to when polio was rampant and see how anti-vax they would be them. |
|
|
|
World Going to socialist regime
So 50% will provide services and production for other 50%
I Don't mind this what you think?
Full on socialism has never worked and there’s no reason to expect that to change in the future. It requires suppressing with force a market’s natural tendencies and is therefore inherently violent. Countries with a mostly market system and strong social programs (free healthcare and education) have worked well and are probably as close to socialism as you want to get. But it’s not socialism per se. |
|
|
|
Using cryptocurrencies precisely as a medium of exchange is difficult not only in Africa, so I very much doubt that there will be some kind of strong breakthrough, especially when you consider that many people do not have internet access or smartphones.
uneven internet access and the economic ability to buy a smartphone are common obstacles to implementing cryptocurrencies as payment, in the next few decades, several countries in Africa will definitely be a good place for crypto Places with low income and wealth are going to be less likely to adopt crypto as a currency anyway, as the volatility of crypto is a much bigger risk to those with limited means than those living in more advanced economies. If the value of your bank account could decline 10% in a day, would you keep a lot of money there? |
|
|
|
|
China is becoming more and more irrelevant because the Fed will buy as many treasuries as is necessary now. Whether or not that will lead to the rampant inflation everyone soon and gloom’s about is yet to be seen. It hasn’t so far after all.
Personal note, posting in all caps makes you look like a loony, not someone to be taken seriously about anything. Are you the person who runs that forex twitter? Cuz every tweet is written in all caps as well.
|
|
|
|
So if we change the system that money will be not Born from the debt?
What will be other way then?
And how it will be controlled how much money is given away to people to use it.
This Question is specially for those who is against this debt based economy?
Money is a manmade construct and it doesn’t exist except as an arbitrary concept. There is no such thing as a medium of exchange in nature, it has been created as a necessity to live in an organized society as a means of making cooperation easier. But as a made up construct, the idea that money created out of debt is bad is false. There’s nothing inherently bad about that. Deflationary currencies will never be the future. They’re too restrictive for a growing and well-functioning society. The money supply has to expand to accommodate a growing consumer base otherwise there is pressure on decreasing economic activity over time. There’s a reason we left the gold standard. In terms of development to advance a company, there is no way that can be done if you do not have the capital to expand. debt is capital to make economic improvements in order to run the wheels of production by making a profit and being able to pay debts. there's nothing wrong with getting into debt for good and it's used to being done and it's not a strange thing in the economy. Yes, this is my point. “Capital” is a manmade construct as well. It’s just another word for stored value. Value/money is made up. It’s a consequence of man’s ability and need to plan for the future. Things have value because we anticipate needing them in the future. Capital is just things we’ve acquired of value. But the value is represented in dollars so we can all trade our valuable things in the same medium. But there would be no reason for me to give you my capital if I was not expecting something back for it. That’s the essence of debt. I give you capital, you use it to start a business and create more value INT he World, then you pay back my capital with interest from the proceeds of the new value you created. There’s nothing wrong or bad about this. |
|
|
|
Extra theft protection
You have options if a credit card is lost or stolen, or if an unauthorized person somehow accesses your online accounts. You can replace a card or cancel a payment. Credit card users are protected from fraud through the Fair Credit Billing Act.
Meanwhile, we’ve all lost cash at some point in our lives—and with no paper trail (or e-trail), missing cash can be tough to get back. The above argument to me is not enough ground to be a pro because as much we lose our cash either to the wind, armed rubber, dropping from your pocket/pause to the floor or bank theft, we can also lose digital currency or coins without recovering. Cryptocurrency is not the way I’d be seeking security of digital money. The biggest risk is the volatility of the asset itself. When you can’t be sure the value day to day, let alone for an extended period of time, there is tremendous risk in holding the asset. Bitcoin could be up or down 10% today. It could be up or down 50% by next week. These moves are also not uncommon in these time frames. That makes storing value for people who want safety untenable. |
|
|
|
Crazy world! First problems during the pandemic was when toilet paper was out and people started stock piling soap and toilet paper at home like crazy. It makes sense that food will be the main issue during the second and third wave of corona. Better to prepare ourselfs already and building up stockpiles. This will be so sad once people start selling a bag of apples for 100$. We should try to become self suficient again as a nation and not rely on imports all around the world.
The extended shortage of toilet paper was caused by a sudden shift in consumer demand. The country didn’t suddenly start using more, it’s just the place where demand originated changed. Production capacity is more than adequate, but it was split between industrial production and personal production (i.e., work and home). When offices and businesses suddenly didn’t need the industrial production anymore, producers had to shift production to meet the i teases home consumption. That takes time, the supply chains are large. But things have reached an equilibrium again. As it goes for food production, we’re not really reliant on the rest of the world, so there’s no concern there. The US produces enough to feed itself and is a net exporter of foodstuffs. |
|
|
|
perhaps the death knell has been sounded for the culture of presenteeism.
No, I don't think so and personally I wouldn't listen to people (mainly news media) who are promulgating that idea. There are so many professions where you cannot work from home, plain and simple, so we're not going to see a world where brick-and-mortar businesses don't exist anymore. Hell, I can remember people saying the same thing about that when the internet was starting to really take off. Watch the excellent documentary e-Dreams and you'll see an example of that. A world where brick and mortar doesn’t exist is not the standard you should be measuring against. I agree we’re not going to zero, but we are going to see massive vacancies of commercial real estate. Compared to Europe, the United States has far more retail sq foot per capita and this was the thesis for a decline in commercial tenant activity in the longbow term. Covid has only accelerated that. You’ll see it in the coming quarters in large commercial REITs. They’re losing tenants and it’s not likely to recover anywhere near pre-Covid levels. Doesn’t mean it’s going to zero, but it’s going to be hurting, especially those that are highly leveraged, as real estate companies tend to be. Keep an eye out for the publicly traded ones in the coming quarters. It’s the canary in the coal mine. |
|
|
|
|
The bad news is stimulus isn’t the problem with the economy. The problem with the economy is decreased economic activity because of the pandemic. For all these republican idiots who want to end lockdowns and return to normal, they should be pushing policies then that actually end the pandemic and defeat the virus, not demanding everyone go back to normal and pretending the virus doesn’t exist or that it can’t have serious consequences if you contract it. That’s the reason the economy is bad. So help be the solution instead of obstructing it.
|
|
|
|
/snip garbage
They bloody bio engineered a bio weapon ( Covid) and they released it ....
/snip more garbage
Oh good, another conspiracy theory on the bitcoin board. No wonder this community is having trouble breaking through to mainstream society from the fringes to be taken seriously by average people. I’m sure you saw a YouTube clip that “proved” your nonsense and now you just need other enlightened souls to take up the cause. Please don’t waste space with this garbage. There are people trying to learn about bitcoin or discuss economics on this board. |
|
|
|
So if we change the system that money will be not Born from the debt?
What will be other way then?
And how it will be controlled how much money is given away to people to use it.
This Question is specially for those who is against this debt based economy?
Money is a manmade construct and it doesn’t exist except as an arbitrary concept. There is no such thing as a medium of exchange in nature, it has been created as a necessity to live in an organized society as a means of making cooperation easier. But as a made up construct, the idea that money created out of debt is bad is false. There’s nothing inherently bad about that. Deflationary currencies will never be the future. They’re too restrictive for a growing and well-functioning society. The money supply has to expand to accommodate a growing consumer base otherwise there is pressure on decreasing economic activity over time. There’s a reason we left the gold standard. |
|
|
|
when a movement in a market doesn't make any sense at all that always means there is manipulation going on. fake movements always look weird and make no sense. granted the economy has recovered a little bit and the life resumed but things are far from being normal and certainly not fully recovered with all the money that all these companies in stock market lost in the past couple of months and continue to lose. there is also another factor that could be the main reason for manipulation. and that is the coming US elections. a recovered stock market, even if fake and in a bubble, looks so much better in campaigns This is another possible explanation for what it's happening, the US elections will come very soon and we know that one of the surest ways to lose the presidency is to have a crashing stock market, and it is possible that the president did everything that he could to change this and manipulated the markets so they look more robust during the elections. However while this solves the issue with the stock market it doesn't really help the real economy which as we know it is suffering greatly because of the impact of the coronavirus and the tens of millions of jobs that were lost in the United States during the pandemic and many of those that have lost their jobs will probably blame the president because of it putting into doubt if the manipulation exercised in the stock market is going to be enough in order to assure victory in the elections. The president doesn't control the Fed, and the Fed acts independent of the president's desires. The Fed can't risk being political because the only thing that gives the US dollar value is the widespread acceptance that it has value. It's a self-fulfilling prophecy. If the Fed begins to make political interventions, faith in the dollar will collapse and so too will the US economy as a result of having a worthless currency. So no, the stock market isn't doing well because there's a US election. It's because the Fed is pursuing other mandates and the consequences of those actions is pumping cheap dollars into the economy, which have nowhere to go but the stock market (essentially). |
|
|
|
|
Show Posts
