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Harry Hood
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November 02, 2015, 11:31:31 PM |
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Alas.. America will 1000% start WW3 if their ecom starts to falter.. they are already setting up for it in the south sea.
Nothing gets the ecom going like taking out an extra 100 TRILLION on the backs of the next 100 generations to fuel your wars that are really just a solid reason to take out 100 Trillion..
Haha, starting a war would not remove the debt that exists. |
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RealBitcoin
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November 03, 2015, 12:44:54 AM |
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Not to worry!
The US Gov is hodling the bitcoin confiscated from Dread Pirate Roberts so a few more months of price appreciation and the debt should be easy to payoff, debt snowball style!
They already auctioned that, but who knows maybe they will introduce tax payments with bitcoin. Then they will HODL that, and as the US debt grows, so does the bitcoin price, they will use that as a hedging mechanism to cancel the debt  |
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1990BEARS
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November 03, 2015, 05:47:43 AM |
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i think as we see debt increase we see bitcoin price increase faith being lost in usd bad value, i think it time to bring in the big bitcoin gun  |
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RealBitcoin
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November 03, 2015, 08:57:35 AM |
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i think as we see debt increase we see bitcoin price increase faith being lost in usd bad value, i think it time to bring in the big bitcoin gun The debt will increase at faster rates though than the bitcoin price. |
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jubalix
Legendary
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Activity: 2646
Merit: 1023
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November 03, 2015, 10:59:18 AM |
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I dont quite grok the politcs of it,
however, debt is sort of immaterial in a fiat system as 0's are free to add.
eg 100
1000
10000000
10000000000000000000000000
etc.
The US can print its way out of anything. (by print I also me issue debt instruments etc)
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markj113 (OP)
Legendary
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Activity: 2254
Merit: 1043
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November 03, 2015, 11:13:55 AM |
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Doesnt that lead to hyper inflation eventually though?
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uki
Legendary
Offline
Activity: 1358
Merit: 1000
cryptojunk bag holder
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November 03, 2015, 11:33:34 AM |
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Doesnt that lead to hyper inflation eventually though?
As long as you have enough military force to back the status of your printed paper with the 'trust' of the creditors you are on the safe side. That is, at least to my understanding, what the US have been performing so far with the US dollar. At one stage, it may be very easy to get the things out of control, which may lead to hyperinflation among other problems. |
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RealBitcoin
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November 03, 2015, 05:12:44 PM |
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Doesnt that lead to hyper inflation eventually though?
As long as you have enough military force to back the status of your printed paper with the 'trust' of the creditors you are on the safe side. That is, at least to my understanding, what the US have been performing so far with the US dollar. At one stage, it may be very easy to get the things out of control, which may lead to hyperinflation among other problems. Yes but they are losing ground in the middle east. Plus the debt is going exponential, they cant afford another 1 trillion $ operation like the previous wars, so a civil war or some sort of civil unrest is more likely. |
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Hamuki
Legendary
Offline
Activity: 1022
Merit: 1000
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November 03, 2015, 06:52:27 PM |
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The debt the US is in will never be repayed.
They dont understand basic economy.
Problem is just if they fall they take everyone with them.
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OrientA
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November 03, 2015, 07:59:04 PM |
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The debt the US is in will never be repayed.
They dont understand basic economy.
Problem is just if they fall they take everyone with them.
They understand very part of the economy. They just do not want to pay back debt. That is the human nature. Unfortunately, the US has enough millitary power to make sure it does not pay back debt. |
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jubalix
Legendary
Offline
Activity: 2646
Merit: 1023
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November 03, 2015, 11:12:13 PM |
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Doesnt that lead to hyper inflation eventually though?
we are already in hyper inflation, notice cost of living going up alot, exponentially. But to answer you point, no, you just settle you debts with debtors, here you go here is 10000000 Trilion. Thats' a FIat currency for you, the gov says its that amount by FIat, and the advantage to the US to being the reserve currency, it can print its way out of anything. |
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OROBTC
Legendary
Offline
Activity: 2940
Merit: 1865
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November 03, 2015, 11:18:12 PM |
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The debt the US is in will never be repayed.
They dont understand basic economy.
Problem is just if they fall they take everyone with them.
They understand very part of the economy. They just do not want to pay back debt. That is the human nature. Unfortunately, the US has enough millitary power to make sure it does not pay back debt. The debt was never meant to be paid back. The debt has been used as a tool by the politicians to buy votes (although that is very short-term thinking). They cannot pay it back, so they will not pay it back. *It may take a long time, but the US$ will fail, as ALL CURRENCIES in history have. Gold and BTC are part of a good defense... * $19.6 trillion / 320 million = $61,250 owed per citizen, that would be over $125,000 per taxpayer. |
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RealBitcoin
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November 04, 2015, 03:29:08 AM |
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I dont quite grok the politcs of it,
however, debt is sort of immaterial in a fiat system as 0's are free to add.
eg 100
1000
10000000
10000000000000000000000000
etc.
The US can print its way out of anything. (by print I also me issue debt instruments etc)
Yea but the fiat money is representative of the economy (although not 100% correlation), but it still affects it very much. The derivative bubble and other ponzi instruments, if the fail, no big deal. But if they start taking the collaterals: confiscate houses, cars, land, etc.. That will mess up the economy + a treasury bond default = no pensions & no welfare. You underestimate the enormous damage it can cause when it gets defaulted. |
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Possum577
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November 04, 2015, 06:17:28 AM |
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Not to worry!
The US Gov is hodling the bitcoin confiscated from Dread Pirate Roberts so a few more months of price appreciation and the debt should be easy to payoff, debt snowball style!
They already auctioned that, but who knows maybe they will introduce tax payments with bitcoin. Then they will HODL that, and as the US debt grows, so does the bitcoin price, they will use that as a hedging mechanism to cancel the debt You think they didn't auction some of it to themselves or keep some of it? |
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RealBitcoin
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November 04, 2015, 05:59:15 PM |
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Not to worry!
The US Gov is hodling the bitcoin confiscated from Dread Pirate Roberts so a few more months of price appreciation and the debt should be easy to payoff, debt snowball style!
They already auctioned that, but who knows maybe they will introduce tax payments with bitcoin. Then they will HODL that, and as the US debt grows, so does the bitcoin price, they will use that as a hedging mechanism to cancel the debt You think they didn't auction some of it to themselves or keep some of it? Individual people? Maybe. Collectively keeping? Not really. I mean even a bureocrat, when he is not in office can do whatever he wants with this money. |
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DiamondCardz
Legendary
Offline
Activity: 1134
Merit: 1118
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November 04, 2015, 06:01:48 PM |
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we are already in hyper inflation, notice cost of living going up alot, exponentially.
Sigh... I assure you, this is not the case. "The latest inflation rate for the United States is 0.0% (unchanged) through the 12 months ended September 2015 as published by the US government on October 15, 2015." Similar things in the UK too, we actually were in deflation for a short while. We are definitely nowhere near hyper inflation, we are infinitely closer to deflation itself. |
BA Computer Science, University of Oxford
Dissertation was about threat modelling on distributed ledgers.
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OrientA
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November 04, 2015, 10:06:31 PM |
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we are already in hyper inflation, notice cost of living going up alot, exponentially.
Sigh... I assure you, this is not the case. "The latest inflation rate for the United States is 0.0% (unchanged) through the 12 months ended September 2015 as published by the US government on October 15, 2015." Similar things in the UK too, we actually were in deflation for a short while. We are definitely nowhere near hyper inflation, we are infinitely closer to deflation itself. The house price inflation is very high in UK. The price of house is setting record quarter after quarter. |
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uki
Legendary
Offline
Activity: 1358
Merit: 1000
cryptojunk bag holder
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November 04, 2015, 10:23:51 PM |
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Doesnt that lead to hyper inflation eventually though?
As long as you have enough military force to back the status of your printed paper with the 'trust' of the creditors you are on the safe side. That is, at least to my understanding, what the US have been performing so far with the US dollar. At one stage, it may be very easy to get the things out of control, which may lead to hyperinflation among other problems. Yes but they are losing ground in the middle east. Plus the debt is going exponential, they cant afford another 1 trillion $ operation like the previous wars, so a civil war or some sort of civil unrest is more likely. losing ground in one place, if that is really the case (really you think that the US is losing ground in the Middle East?) and it is not part of the deal, is not yet the sign of weakening. Once it is more like chain reaction it is time to get afraid. For now, everything seems under control, so to say, within the rules of the game that is played. I also wouldn't underestimate powers that be, they are very good economists and know how to bind the rules of the games to their advantage. the debt (the celling) is still insignificant if the underlying assumption is: it won't ever be paid back. |
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OROBTC
Legendary
Offline
Activity: 2940
Merit: 1865
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November 05, 2015, 03:37:38 AM |
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we are already in hyper inflation, notice cost of living going up alot, exponentially.
Sigh... I assure you, this is not the case. "The latest inflation rate for the United States is 0.0% (unchanged) through the 12 months ended September 2015 as published by the US government on October 15, 2015." Similar things in the UK too, we actually were in deflation for a short while. We are definitely nowhere near hyper inflation, we are infinitely closer to deflation itself. I think those numbers are rigged. The outpacing of robitics and automation caused deflation cannot be greater than the printed money that creates inflation. So i think we are going to hyperinflation, not deflation. Or deflation FIRST, then hyperinflation after. That is a common pattern seen in economic history. And that scenario is my "working scenario", what I am trying to plan for. And "they" get a chance to whack you both ways: your stuff is worth less in Round One (deflated), then when you start to hoard CA$H they whack your money in Round Two (hyperinflation). It is important to remain vigilant and DIVERSIFIED! Because this will not end well.... Avoid debt too, it's a killer. |
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RealBitcoin
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November 05, 2015, 04:11:14 AM |
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Or deflation FIRST, then hyperinflation after. That is a common pattern seen in economic history. And that scenario is my "working scenario", what I am trying to plan for.
And "they" get a chance to whack you both ways: your stuff is worth less in Round One (deflated), then when you start to hoard CA$H they whack your money in Round Two (hyperinflation).
It is important to remain vigilant and DIVERSIFIED! Because this will not end well....
Avoid debt too, it's a killer.
Well that is not deflation what you describe. Many economists dont know the definition of what deflation is and i see this in economy shows as well to be mistaken. What you describe is a pump & dump scheme, deflation is not that. Deflation is when everything costs less , in parrelel with everything else. You cant just make wages go down, and then print money to pump up the stock market, you cannot call that deflation. That is more like theft. |
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