USdollar lost 97% of it's value?

[deluxeCITY]

I live in a civilized country, we use money to survive.

Lol bro!  How does it taste?  Sounds particularly uncivilized.  [edit].. of course to be fair it all hinges on what you mean here by "money". 

Civilized country did make me laugh, you mean you use paper to survive and that paper is worth as much as toilet roll in fact it is worth less because it is 'debt' the closet thing to money on this planet are the shiny pieces of metal you find funny to collect.

Money is in fact 'gold' paper is just a receipt of the 'gold'. It all started many years ago in a village/small town the gold smith was his own bank now he stored his gold in his safe and people realized that they could ask him to store their gold also and so they asked, he agreed to this and stored the towns gold etc

He would give them a piece of paper which was their receipt a modern day iou of the amount of gold he held for them, after a while he realized that not everyone came to collect their gold at the same time so he could loan a % of the gold out and make profit which he done and at the same time created fractional reserve banking which in short your 'money' is worthless and is backed by 'nothing' except ofcourse most of the sleepy population

[NotLambchop]

Filthy savage #2: 
In civilized society, only our poor (wretches whose mansions lack proper slave's quarters) use paper money.
The rest of us rely on advanced, risk-free computerised electronic payment system called The Credit Card.
Some day you too might evolve to our heights, ill-bred brute.

[Razick]

simply put what will happen when dollar has lost 100% of it's value and is as such worthless?

Here is what I believe will happen.  At some point the government will declare the currency no longer of value.  They will stop accepting it for tax debts and issue a new currency.

Why would they do that? The only situation that justifies the issuance of a new currency is hyperinflation. Slow inflation allows prices to gradually adjust. When I am old I may pay $10 for a donut and $250,000 for a car but value of a currency doesn't really matter, only the speed at which the value changes. I'll just carry larger bills. Or more accurately perhaps, I won't carry bills at all.

[Exther2]

i've watch a video where someone says dollar lost 97% of it's value, this would mean that there is only 3 % left ?  is 0 % when i can use it as toilet paper?


I can tell when USdollar has lost value because my purchasing power has decreased (prices of good increases), so how can the dollar value have a limit when the price of a good can be increased in an unlimited fashion?

simply put what will happen when dollar has lost 100% of it's value and is as such worthless?

Do you think before you write? 97% would be a dead currency.
World is in global problem or call it crisis, but dollar is not dead. Anyway, every time when American economy falls deep down, they go to war somewhere.
It's like that about Dollar. It cannot be dead as USA will always find a new target where to drop old weapons, so they can produce new and so on.

[hashman]

I live in a civilized country, we use money to survive.

Lol bro!  How does it taste?  Sounds particularly uncivilized.  [edit].. of course to be fair it all hinges on what you mean here by "money".  

Filthy savage:  
In civilized society, we do not eat money.  We purchase slaves from our backwater colonies who, in turn, cook our sixteen-course meals.
Soon, you to will evolve and stop eating money & hoarding shiny things.  Because 21st century.
Furthermore, brutish barbarian, there is no money but Money, the Glorious United States Dollar.  Educate yourself.

Yes silly me, how unciviised.  I had even considered that the energy and light of the sun, the fruit of the soil, and the love of living things between one another was what enabled me to survive.

[Razick]

i've watch a video where someone says dollar lost 97% of it's value, this would mean that there is only 3 % left ?  is 0 % when i can use it as toilet paper?


I can tell when USdollar has lost value because my purchasing power has decreased (prices of good increases), so how can the dollar value have a limit when the price of a good can be increased in an unlimited fashion?

simply put what will happen when dollar has lost 100% of it's value and is as such worthless?

Do you think before you write? 97% would be a dead currency.
World is in global problem or call it crisis, but dollar is not dead. Anyway, every time when American economy falls deep down, they go to war somewhere.
It's like that about Dollar. It cannot be dead as USA will always find a new target where to drop old weapons, so they can produce new and so on.

Actually, the statistic he quoted is correct although I don't know the exact time span he is using. Since 1913 though, the USD has lost -95.8% of its value.

[albert11]

i've watch a video where someone says dollar lost 97% of it's value, this would mean that there is only 3 % left ?  is 0 % when i can use it as toilet paper?


I can tell when USdollar has lost value because my purchasing power has decreased (prices of good increases), so how can the dollar value have a limit when the price of a good can be increased in an unlimited fashion?

simply put what will happen when dollar has lost 100% of it's value and is as such worthless?

Do you think before you write? 97% would be a dead currency.

how about yourself?

https://www.youtube.com/watch?v=OqE7GTvbJ9I

at 3:21  I did not invent it, it did lose 96% of its value and no, it is not a dead currency as a result.

I simply got mislead by the graph in this video that's why i got confused with the % but % are not finite , us dollar can lose 43 000 % or whatever.

From your comment i can tell you made the same mistake as i initially did and try to correct me ohh the irony!

Read entire thread content next time:)

[NotLambchop]

I live in a civilized country, we use money to survive.

Lol bro!  How does it taste?  Sounds particularly uncivilized.  [edit].. of course to be fair it all hinges on what you mean here by "money".  

Filthy savage:  
In civilized society, we do not eat money.  We purchase slaves from our backwater colonies who, in turn, cook our sixteen-course meals.
Soon, you to will evolve and stop eating money & hoarding shiny things.  Because 21st century.
Furthermore, brutish barbarian, there is no money but Money, the Glorious United States Dollar.  Educate yourself.

Yes silly me, how unciviised.  I had even considered that the energy and light of the sun, the fruit of the soil, and the love of living things between one another was what enabled me to survive.

>the love of living things between one another was what enabled me to survive

What does your hoarding of gold & silver have to do with love between living things, you frickin' greedy_but_incompetent money changer?
If it's love and sunshine you're after, here:

... go and sell that thou hast, and give to the poor, and thou shalt have treasure in heaven: and come and follow me.

[hashman]

simply put what will happen when dollar has lost 100% of it's value and is as such worthless?

This is called a "debt jubilee".  Debts contracted in a currency under jubilee are forgiven.  People use other exchange commodities when they are necessary.  There are plenty to choose from.  

Some people panic about this but there is nothing frightening about it; it has happened many times and is cause for great celebration.  

Not if you are the lender. That might sound nice until you consider that borrowers tend to be people like me who are young and have many years of income ahead of them while lenders tend to be people in their later years saving for retirement.

True indeed.  I would certainly recommend for anybody in their later years saving for retirement to have some portion of savings which is not loaned out to young kids like you. 

[polynesia]

simply put what will happen when dollar has lost 100% of it's value and is as such worthless?

This is called a "debt jubilee".  Debts contracted in a currency under jubilee are forgiven.  People use other exchange commodities when they are necessary.  There are plenty to choose from.  

Some people panic about this but there is nothing frightening about it; it has happened many times and is cause for great celebration.  

Not if you are the lender. That might sound nice until you consider that borrowers tend to be people like me who are young and have many years of income ahead of them while lenders tend to be people in their later years saving for retirement.

I am sure there are enough "reasonably safe" investment options whose returns can beat inflation.
So people in their later years really don't have anything to worry about.

[OROBTC]

...

Yes, the US$ has lost some 96% of its value since 1913.

And I am a big fan of gold and Bitcoin.  <== Everyone should own some of each (where possible).

But, in the past two or so years, the dollar has been very strong versus almost everything.

Stocks have been very strong as well since 2009.  The Dow, the S&P 500 and NASDAQ are all near their all-time highs.

Diversification !!

*   *   *

Top gold analyst "FOFOA" recently wrote that in his opinion there are NO "safe" investments that would beat or even match inflation.  There is risk of default (that would include "default by inflation") in almost everything.

FOFOA discusses these kinds of subjects at great length (emphasis on "great length") at his blog:

fofoa.blogspot.com

[polynesia]

Yes, the US$ has lost some 96% of its value since 1913.

And I am a big fan of gold and Bitcoin.  <== Everyone should own some of each (where possible).

But, in the past two or so years, the dollar has been very strong versus almost everything.

Stocks have been very strong as well since 2009.  The Dow, the S&P 500 and NASDAQ are all near their all-time highs.

Diversification !!

Diversification is good.
We should however be underweight on USD. Hold lower dollars then everybody else.

[OgNasty]

simply put what will happen when dollar has lost 100% of it's value and is as such worthless?

Here is what I believe will happen.  At some point the government will declare the currency no longer of value.  They will stop accepting it for tax debts and issue a new currency.

Why would they do that?

Because that is what they've always done.

[NotLambchop]

...
Diversification is good.
We should however be underweight on USD. Hold lower dollars then everybody else.

I have recently rebalanced my portfolio thusly:
~37% BTC,
~45% BTCeanie BTCabies,
~10% in shiny metals,
and the rest in BTColo ties & other highly liquid commodities I bought on advice from fellow fortune-seekers from these fora.  I don't hold any USD because they put an RFID strip inside the bills now that lets NSA listen in on my conversations (as if poisoning my water with fluoride wasn't enough).

Anyhow, I'm pretty much covered in any eventuality.  As long as they don't start messing with the clouds again.

[Nicolas Dorier]

During how much time can a value drop in % ?
Response : Infinite

Your remark considering whether you can use a Dollar Bill eventually as Toilet Paper as some merit though.
If that happens, it means that it is more costly to create a Dollar Bill than to create Toilet Paper. So the reasonable question is : whether or not you should invest into toilet paper.

The reason is no, for one reason, if 1$ = 1 roll of toilet paper, then the central bank will not issue 1$ dollar bills anymore, but most likely 100$ or 1000$ bills to bring down the cost of production of the dollar.
At this point I advice you to conserve your legacy 1$ bill because currency collectors will value it more highly than toilet paper.

[polynesia]

During how much time can a value drop in % ?
Response : Infinite

Your remark considering whether you can use a Dollar Bill eventually as Toilet Paper as some merit though.
If that happens, it means that it is more costly to create a Dollar Bill than to create Toilet Paper. So the reasonable question is : whether or not you should invest into toilet paper.

The reason is no, for one reason, if 1$ = 1 roll of toilet paper, then the central bank will not issue 1$ dollar bills anymore, but most likely 100$ or 1000$ bills to bring down the cost of production of the dollar.
At this point I advice you to conserve your legacy 1$ bill because currency collectors will value it more highly than toilet paper.

Yes, it will only asymptotically touch zero (i.e. never) even if it keeps losing value.

[OROBTC]

...

NotLambChop

~45% BTCeanie BTCabies sounds about right to me, ha ha ha...  But, you would be wise to have no more than 25% of that in any single BTC.BTC.

Remember, diversification takes many forms, and is multidimensional.  You can't be too careful.

[BootstrapCoinDev]

...

NotLambChop

~45% BTCeanie BTCabies sounds about right to me, ha ha ha...  But, you would be wise to have no more than 25% of that in any single BTC.BTC.

Remember, diversification takes many forms, and is multidimensional.  You can't be too careful.

Cash is a guaranteed loss. Don't over diversify. Just pick four well known metal funds that have a long term track record, think things that have gotten 11 to 12% average annual growth over the last 25 to 30 years. I'd go so far to say after doing that save up 3 to 6 months worth of expenses in cash. It's also good to have adequate insurance (term life, health, home, and any sort of liability you need.)