"Dollar headed for 'multi-year rally' "

[solex]

Then our Bureau of Labor Statistics is asinine. Tell it to the BLS.
The CPI has been adjusted all sorts of ways to reduce the visibility of inflation.  It is losing trust as a metric, so this suggestion of how to fix it should be well received by them.  Go for it.

The BLS has also been considered as the "Bureau of Lies and Stories"

Inflation stats using the official 1990 method show how much revision and hedonics has gone on recently....

http://www.shadowstats.com/alternate_data/inflation-charts

[1715574219]

1715574219

[SEC agent]

http://www.shadowstats.com/alternate_data/inflation-charts

What a fucking joke.  Are you going to quote Alex Jones or David Ick next?  (because they are about as equally credible as John Williams)

[SEC agent]

Speaking of losing purchasing power:





Ouch.

[solex]

Oh no. Poor dollar holders getting pulverized...

[SEC agent]

A fall from $266 to $87 in less than 3 months is a major loss of purchasing power in an extremely short period of time (as is $32 to $2 over 5 months).  If USD swung like that, there would be riots.


It's cute that you think your chart makes BTC look like a viable alternative to USD, though.

[NewLiberty]

http://www.shadowstats.com/alternate_data/inflation-charts

What a fucking joke.  Are you going to quote Alex Jones or David Ick next?  (because they are about as equally credible as John Williams)

How is credibility measured, please? (Links?)
I am more interested in the credibility of the content over who repeats it, but I will settle for what you can help me with, for this.

[NewLiberty]

Speaking of losing purchasing power:





Ouch.

We agree, Ouch.  The numbers have some meaning here, more explanation might be useful.

[Rassah]

A fall from $266 to $87 in less than 3 months is a major loss of purchasing power in an extremely short period of time (as is $32 to $2 over 5 months).  If USD swung like that, there would be riots.

You're forgetting that it swung up from $15 to $266 in less than three months before that. This was a horrendous ouch



I'm still recovering 
And you're right, USD only swings around at 5% to 10% or so every few months. It's just that no one notices, since everyone buys their stuff in their native currency.


By the a, I don't like using things like milk to estimate inflation, because that's heavily influenced by gas prices, too. When prices go up, shipping companies start charging hefty gas surcharges.

[SEC agent]

How is credibility measured, please? (Links?)
I am more interested in the credibility of the content over who repeats it, but I will settle for what you can help me with, for this.

The content of what they say is what drives their credibility.  

Take Ick, for example; he claims that the world is ruled by shape-shifting reptilian aliens. Do I need to explain why this isn't credible, or why anyone with an ounce of sanity would ignore what he has to say?

[SEC agent]

You're forgetting that it swung up from $15 to $266 in less than three months before that.

No. In fact, I stated that the rapid swings in price is part of what makes BTC a poor substitute for the dollar.

USD only swings around at 5% to 10% or so every few months.

Bullshit.

[NewLiberty]

No, I am stating that using the price of milk as evidence of runaway inflation is asinine, because it ignores all of the other factors that drive the price.

Then our Bureau of Labor Statistics is asinine. Tell it to the BLS.
The CPI has been adjusted all sorts of ways to reduce the visibility of inflation.  It is losing trust as a metric, so this suggestion of how to fix it should be well received by them.  Go for it.

I think you're on the right track.  Price of milk should be adopted as the new metric of national economy.  All them ivory tower chalkboard economists with their GDP this, standard of living that and their fancy learningz!  Got Milk?

Milk wasn't my choice.  Am just sharing what is out there.  
Thanks for contributing, since you brought up the new metric, how do you like to measure "national economy"?  
More data, please.

[Rassah]

USD only swings around at 5% to 10% or so every few months.

Bullshit.

Look at this nice steady graph. The pinnacle of stability!

http://www.xe.com/currencycharts/?from=USD&to=EUR&view=1Y

[SEC agent]

http://www.xe.com/currencycharts/?from=USD&to=EUR&view=1Y

I have no idea why you would think that comparing the USD/EUR pair to the USD/BTC pair strengthens your argument in any way.  If anything it shows that government controlled currency is FAR more stable than your internet monopoly money.

[NewLiberty]

How is credibility measured, please? (Links?)
I am more interested in the credibility of the content over who repeats it, but I will settle for what you can help me with, for this.

The content of what they say is what drives their credibility.  

Take Ick, for example; he claims that the world is ruled by shape-shifting reptilian aliens. Do I need to explain why this isn't credible, or why anyone with an ounce of sanity would ignore what he has to say?

I would hazard to guess that these topics are not his original research.  Likely also true for John Williams, though possibly a bit more of the analysis may be original there.
To your question as to why explain what is credible to you, that was to let have the opportunity to your support your claim.  
I can't vouch for or against any of these folks, so I am relying on your expertise and am curious as to how you reached the conclusion.
Crazy people also sometimes say true things, especially if they heard it from somewhere more credible than they, but whom they happen to agree with in some way.  Media likes crazy people so much that sometimes the sane even have to act crazy to get attention.

So why the shadowstats incredible?

[Rassah]

http://www.xe.com/currencycharts/?from=USD&to=EUR&view=1Y

I have no idea why you would think that comparing the USD/EUR pair to the USD/BTC pair strengthens your argument in any way.  If anything it shows that government controlled currency is FAR more stable than your internet monopoly money.

I wouldn't really call 5% to 10% fluctuations "stable," that's all. And that's despite USD and EUR having trillions of dollars market caps, compared to Bitcoin's 1 billion. That's really the ONLY reason Bitcoin is unstable, anyway - small market cap.


By the way, sorry I joined this conversation late, but was there any news of Dollars rallying about 200% to 300%? If not, I'll stick with bitcoins, thanks.

[SEC agent]

So why the shadowstats incredible?

His methodology is flawed from the get go. He claims that CPI doesn't account for things like food and energy costs (and yet, we were just discussing CPI stats about the cost of milk, and energy costs are definitely factored in http://www.bls.gov/news.release/cpi.nr0.htm ).

Otherwise, he has made some pretty outragous claims for precious metals (ie gold at $8,890 oz) that havent even remotely panned out.

[SEC agent]

I wouldn't really call 5% to 10% fluctuations "stable," that's all.

Those (EUR/USD) are price shifts relative to each other, and have very little to do with day to day purchase power of USD (because people dont "cash out" into EUR, with the exception of forex traders) .  On the other hand, the current BTC economy is integrally tied to USD, and the relative price of BTC/USD directly effects BTC purchase power.

but was there any news of Dollars rallying about 200% to 300%? If not, I'll stick with bitcoins, thanks.

Right, because 200-300% swings in value are the hallmark of a healthy economy.....

[Rassah]

On the other hand, the current BTC economy is integrally tied to USD, and the relative price of BTC/USD directly effects BTC purchase power.

Aside from "What's the difference between USD/EUR 'relative to each other' and BTC/USD 'relative to each other'"...
Yeah, I keep hearing "you people" say that, and keep hearing everyone else who isn't from America who doesn't give a shit about USD disagreeing.

Besides, quit complaining about Bitcoin being a new, nascent currency with still-low adoption rates. We all know that already. 

[NewLiberty]

So why the shadowstats incredible?

His methodology is flawed from the get go. He claims that CPI doesn't account for things like food and energy costs (and yet, we were just discussing CPI stats about the cost of milk, and energy costs are definitely factored in http://www.bls.gov/news.release/cpi.nr0.htm ).

Otherwise, he has made some pretty outrageous claims for precious metals (ie gold at $8,890 oz) that havent even remotely panned out.

Since you provided no link for this, I went looking.  The closest thing I can find is others making the same claim that he wrote this.  The closest thing I can find on that matter is significantly more sane.  Jason Hamlin wrote that for gold to reach the bubble level it had previously -according to John Williams inflation metrics- it would have to reach 8890.  So it seems his only connection to it is tangential.
http://www.munknee.com/2012/02/will-gold-peak-at-2500-8890-or-15000/

I didn't find any John Williams prediction that it would reach this price within any time at all,  Maybe you have it?  Others have also claimed that he John Williams claimed this so perhaps he has other messages that upset folks so that they feel the need to distort them in order to discredit him.  Perhaps you went looking for something outrageous from John Williams and found a distortion of someone else's that you chose to repeat as if it were true?  I may have missed it though, let me know if you find that link.
https://www.goldstockbull.com/articles/gold-8890-silver-517-williams-shadow-stats/

That gold didn't reach 8890 may suggest that either his inflation metrics are off or that gold wasn't in a bubble, or that the person who actually wrote it was just wrong, but even that was only ever stated as a conditional statement.  

However your credibility metric is 0 for 1 so far, pending a reference, as your claim about him wrong and his wasn't.  How about 2 out of 3?

[SEC agent]

It's awfully convenient that you completely ignore the first paragraph of the post. You know, the part of the post that explains how his entire methodology is flawed?

I cant imagine why you would do that...