Is there actually any real risk of a currency collapse/crisis of confidence?
There are a lot of people going around spouting the /pmg/ slash goldbug narrative, so I guess I'm wondering if there's anything to it...
...or is it a case of wishful thinking and people being trapped in their own bubble. A bubble full of overpriced American Silver Eagles and muh gunz.
If you resemble that remark, I'm not attacking or making fun of you, btw. I'm just looking for opinions here and maybe some answers.
Nah man. We can totally continually keep indebting everybody forever to create money that does exist and there will be no consequences.
If the dollar is doomed people with gold wouldn't sell their gold for dollars now would they?
Yes. At some point a manufactured collapse will be phased in but the idea behind the dollar will be immortal.
Yes. Then war, but not normal war. Dystopian hyper war.
Sounds good to me, let me just...
No one knows OP. Turnip is shady as hell, but he appointed that one tranny that's on favor of the gram crack standard.
The answer is likely, no.
A war of some sort, but at that point, most other countries can defend themselves against the US. All wars are for money.
>All wars are for money
No, all wars are for resource control. Money is only a placeholder.
We are already in war
It's just an economic war
thats pretty much the plan
>There are a lot of people going around spouting the /pmg/ slash goldbug narrative
Those people coincidentally also run gold investment funds.
currency has been collapsing very slowly ever since it was taken off of a metal standard. So yeah, it's going to keep right on collapsing either slowly or fast or anywhere in between.
that doesn't matter, it has infinite capacity to collapse.
the concern that PEOPLE won't use it if it collapses is bullshit since people aren't the main users of currency in the first place. They come in about fourth behind governments, banks, and corporations. And not one of those entities needs confidence in the currency to use it. They just need either speed in transactions to avoid collapse during a deal, or to know the rate of collapse so it can be priced into a deal.
Zig Forums attracts small minds. So what seems like an extremely common opinion if you live here is often a stupid opinion rejected by almost every thinking person alive. If you're not smart enough to recognize and echo chamber you're part of the problem.
Look up tier 1 asset classes as ranked by banks, and what changed fairly recently.
I don't care what a bunch of faggots on Zig Forums, YouTube, or whatever think is valuable (like a random generated code , lol). I care what banks think. They made the game, and know how it ends.
Except it's unsustainable by design.
>Look up tier 1 asset classes as ranked by banks, and what changed fairly recently.
doesn't matter.
they can do business in sand or pork bellies or anything they want, even while it collapses in value.
they certainly move between assets if one is collapsing faster than another, but they make the move using currency. And they'll keep making the move using currency no matter how little it's worth because it's just a token. A placeholder. A number. Money isn't an asset to a bank or a government or a business when it goes down in value every year. It's just a means of trading between assets that may or may not go down or up in value themselves.
>It doesn't matter banks are hoarding gold
>So what if the tokens you are paid in, and the vast majority of the populace store their savings in, is being devalued at a expotenitial rate
>Who cares if America's number 1 export has a "emperor has no clothes" moment, it doesn't matter
I don't bicker with proven brainlets.
>t. doesn’t understand liquidity or anything user is saying
d.krug is a helluva drug
You're still imagining that the main users of currency view it as an asset rather than just a means of buying assets.
like I said, people aren't the primary users of money. They're not even in third place. It will suck for americans if the dollar collapses because poor people treat dollars like assets. But that tragedy has been going on for 50 years now in the form of inflation and only an idiot or a criminal keeps their wealth in cash. You're an idiot or a criminal, so you don't get it. Ironic for someone pushing against cash, but you can be right and still not understand why.
that is also the plan, collapse capitalism -> further communism
we can try to put it another way.
you see the dollar falling and you're offended because you mistakenly believe it must hold consistent value. So you take this as a sign of a bigger impending collapse and encourage people to buy assets such as gold.
everyone else has known this for half a century now. The thing was literally DESIGNED to lose value over time. The purpose of it is to facilitate trade between other assets that aren't designed to collapse. So you think you've discovered some big-brain truth that nobody else knows. And here on Zig Forums surrounded by drooling retards you might be right.
but everyone else knows about the money illusion already, and understands the whole thing is just a platform to move a percentage of wealth from the pockets of stupid people into those of smarter ones in exchange for some level of comfort or safety. As capitalism should. You're not smart. You've discovered something every capitalist alive already knows. You're just pissed about it because you haven't profited off it personally, and if you're buying gold you presumably never will. Since gold is the benchmark against which assets are measured, and benchmarks by definition don't go up or down.
you need to go back
All the data says no. But the FED definitely wants you to believe it.
After 13 years of QE and "money printing" we have effectively no inflation. Yet now somehow it's about to come. For some reason, "this time it's different" even though all the data says we're going through deflation currently. Banks simply are not lending at all. The H.8 data (the aggregate of all commercial US banks) says that people are paying down loans and banks are not lending out more money. Banks are furiously buying up Bonds, even when their ROI is near all time lows.
QE is largely about reducing the rates of bonds, giving banks reserves to lend against, thereby letting banks lend out more money and create currency inflation. So while Gold/silver may go up long term, in the short term we are about to go through a new deflationary period to lower bond rates, do more QE and hopefully get to a point where the banks are happy to lend again.
but I'm fascinated by the lies you tell yourselves to justify why you're so poor when you know in your deepest heart you can't possibly be stupid.
money illusion is a good one. But it's easy to disprove and /pmg/ does it fairly often. The value of gold has never changed. One ounce of gold has always bought one ounce of gold and it always will. The value of the dollar has gone down enormously, but only an idiot would be surprised at something everyone else knows.
That's just it, nobody holding any gold/silver is selling. Just buying it. The ultimate hedge against what the fed is doing.
Lol. Resources = money.
>nobody holding any gold/silver is selling
except mines, refiners, wholesalers. warehouses, dealers, jewelers, pawn shops, and everyone else in the business of selling gold and silver.
it's true that demand is way up, but the normal suppliers aren't hoarding it. If they really believed it was a necessary hedge they would.
yea you conveniently ignore the fact they can create this money out of nothing and loan with interest, giving them the power to buy all the real things that move our world and thats where the problem lies, not in fiat itself but the fact there is a monopoly in its creation
If there’s any sort of panic or doomsday talk on an election year, don’t take the bait.
Y2K currencies were supposed to collapse, military was supposed to begin martial law etc.
This user gets it.
It allows the ultra wealthy to accumulate more hard assets while the rats flounder.
Remember that you can drive any Keynesian / MMT true believer to madness by repeatedly asking them the question, "but why don't you just print more money?" like a 4 year old.
nope gooks are buying us stoinks
Literally a fucking house of cards.
The only way out is collapse or printing (which will lead to faster collapse)
Best scenario is collapsing as soon as Corona is over. Worst scenario is collapsing during,