The Death of the Dollar
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@engineer said in The Death of the Dollar:
photonics engineer
Excellent. Who needs a dollar or a noble metal when you can quant a corona. Or other miraculous feat.
objectively has the best prospects
future invention potentialProspector dependant.
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@ThinPicking the endgame is endless printing to prop up the economy, trump wants low interest rates which will lead to inflation, imagine weimar republic, gold and silver are 100% safe havens against this BS
It's amazing that in 12 words, someone can make a claim and then completely destroy it with a real world example.
The Weimar Republic had insanely high inflation, but also insanely high interest rates. Interest rates reached into the triple digits, so 100+%. Of course, the high inflation and interest is one of the things that allowed Hitler to come to power in the early 30's. His economic plan was to eliminate interest, which he did when he first came to power. It doesn't take a math genius to know that 0% is much lower than 100%. So if low interest leads to inflation, why isn't Hitler's government a prime example of hyperinflation, instead of the Weimar Republic?
The claim that low interest leads to inflation also defies basic logic. Inflation, in a strict sense, means an increase of available currency, but it's usually referring to rising prices. Obviously, a major factor of price of a product is the cost to produce it. Interest is something that adds to the cost of any product or service, and the higher the interest rate, the higher the additional cost. In fact, if an economy is heavily reliant on borrowing at interest, a small rise in interest can lead to an outsized increase in price, eg, a 1% increase in interest rates can lead to a 20% increase in price.
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Silver (and gold and platinum) have been real superstars this year because they have completely skyrocketed because of the global economic collapse that's slowly playing out. Put another way, the value of global currencies (like the US dollar) is plummeting in silver terms.
Price targets for silver getting thrown around:
$100: a nice round number
$200: previous all time high adjusted for CPI
$700: previous all time high adjusted for M2If silver keeps going up I might be able to megadose certain Idealabs products
Did you sell your silver at your $100 target? If so, good for you. You made a nice profit, and could buy it back today for about $58.
Calling it "The Death of the Dollar" seems like overkill. We saw a spike in silver like this before in the late 70s, and the dollar didn't die then, nor did US dominance. I would think the dollar has at least a few more decades in it, as the US Navy is still the most dominant in the world, and there is no serious challenger (China's Navy still runs on diesel).
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@ZackVegas said:
I would think the dollar has at least a few more decades in itIf it has a lifespan there might be a bit of an effort to get ahead of it. Or is that under it.
@ZackVegas said:
It's amazing that in 12 words, someone can make a claim and then completely destroy it -
The reichsmark actually did hyperinflate again during the rule of the moustache party btw. and iirc (there's a lot of date and time details from the book I mention below to remember), I'm pretty sure all the Weimar inflation was dealt with by the time the moustache-people came on the scene.
Hjalmar Schacht's book "The Magic of Money" explains his experience trying to deal with Hitler shrekking the economy after Schacht fixed it. He actually got totally cleared of any wrong-doing at Nuremberg. Apparently the Soviets were miffed at this. From reading his books, taking his word at face value, I don't think he did anything wrong during his time at the Reichsbank. I actually sympathize with him for having to clean up the currency during the Weimar inflation only to have it get blown up all over again after the epic based moustache squad came into power.
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The reichsmark actually did hyperinflate again during the rule of the moustache party btw. and iirc (there's a lot of date and time details from the book I mention below to remember), I'm pretty sure all the Weimar inflation was dealt with by the time the moustache-people came on the scene.
Hjalmar Schacht's book "The Magic of Money" explains his experience trying to deal with Hitler shrekking the economy after Schacht fixed it. He actually got totally cleared of any wrong-doing at Nuremberg. Apparently the Soviets were miffed at this. From reading his books, taking his word at face value, I don't think he did anything wrong during his time at the Reichsbank. I actually sympathize with him for having to clean up the currency during the Weimar inflation only to have it get blown up all over again after the epic based moustache squad came into power.
You are certainly misrepresenting what Schacht said in his book. He did talk of an inflation after the WW2 began, but even stressed that it was in no way comparable to what happened in the early 1920s. Schacht himself seemed to blame this second inflation more on the war than 0% interest rates.
Plus, it's ludicrous to claim the German Economy was "fixed" by 1932. Poverty and unemployment were rampant, and that started to change rapidly after 1933, getting to essentially full employment by 1937.
It is interesting that Schact was cleared by the most egregious example of a Kangaroo Court in history.
However, my original point about how low interest rates don't necessarily lead to inflation still stands.
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I actually wrote you a multi paragraph reply but then I scrolled above and saw you claimed moustache man "eliminated interest". my dude, the moustache party literally sold interest bearing bonds to fund re-armament.
I can't . im going to stop replying to you now the illusion of you knowing anything about this topic is gone. -
I actually wrote you a multi paragraph reply but then I scrolled above and saw you claimed moustache man "eliminated interest". my dude, the moustache party literally sold interest bearing bonds to fund re-armament.
I can't . im going to stop replying to you now the illusion of you knowing anything about this topic is gone.Just as well that you deleted it, since you you seem to like quoting people out of context to create a strawman. The actual quote was
ZackVegas said:
His economic plan was to eliminate interest, which he did when he first came to power.
Indeed, it was his plan, as Hitler was influenced heavily by Gottfried Feder, who wrote "Manifesto for the Abolition of Enslavement to Interest on Money." Even if Hitler didn't succeed in eliminating interest in total, he did dramatically reduce it for the government and the population.
Anyway, Hitler wasn't the first to use 0% interest. Abraham Lincoln also famously did so during the Civil War, in an effort to prevent The Union from being perpetually in debt. Lincoln did this by issuing Greenbacks, which was essentially money loaned at 0% from the countries citizens to the Federal Government. It did work, as the US would not be perpetually bound in debt until after the passage of the Federal Reserve Act, and later the banking legislation passed by the 73rd Congress and FDR.
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This post is deleted! -
"His economic plan was to eliminate interest, which he did when he first came to power."
did is the pro-verb for "eliminate interest", not for enacting a plan, even if the plan failed or not. I went back on what I said and did reply. This information will help you avoid attempting to gaslight others.
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