DOW down 2000 pts.

a reply to: eitea

yeah i agree with that. They want to destroy the dollar. Then issue in a new system with more control. However i do think bitcoin is the greatest form of money they world has ever seen and think it can save us from the planned complete destruction of the US.

"I believe that banking institutions are more dangerous to our liberties than standing armies . . . If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] . . . will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered . . . The issuing power should be taken from the banks and restored to the people, to whom it properly belongs." — Thomas Jefferson, The Debate Over The Recharter Of The Bank Bill (1809) 

a reply to: booyakasha
We just signed a new charter I think back in 2012. But I do agree with the power to print money should go back to the treasury and the US gov. not private bankers

originally posted by: eitea
Printing currency meaning wasn't used directly here, not by printing actual cash, but by printing more money into the monetary system.

I already explained how it works. There is no more or no less 'money printed' in the process. There's actually less 'money', by a slight margin, circulating this year than the same time as last year. It doesn't increase or decrease rapidly and has been fairly stable for many years now.

a reply to: booyakasha

I personally think that bitcoin would be a terrible practical currency because it doesn't have a mechanism for value stabilization and would actually give people incentive to get rich while just sitting on their ass, and not use it as an actual financial tool of trade that an currency should be. The block-chain technology has more potential in it, because of the security that the decentralized nature give to it, but in general most of the practical solutions for that technology are still on the level of inefficent databases. I have played with crypto in the past and had so much fun, but that fun was casino fun, not investment fun

originally posted by: Blue Shift

originally posted by: Joeshiloh
a reply to: eitea
I think Trump will do every thing he can to prop it up. So I don't see it as bad as 2009.

I think this will be Trump's legacy. Disease and economic collapse. The irony is that it won't be a result of anything he did or didn't do. Nothing that the Democrats or anyone else can blame him for. He was just in the wrong place at the wrong time.

I love it when the Democrats scapegoat Trump with nasty proproganda. Every time, Trump trumps them and does the seemingly impossible. It must be that magic wand that Obama said Trump must have.

I am looking forward to the next few more years of a Trump presidency. I will reconsider come 2022 when new candidates across the both GOP and DNC will be considered for the 2024 election in the US.

I am predicting Trump will be remembered in history for overcoming and strengthening Americas economy in spite of this pandemic and economic strain.

Looking like time to buy in. The Dow has given back about 50% of the Trump Rally so it is buy time now. I expect a big rally in the coming weeks and then another sell-off down to summer solstice.

a reply to: AugustusMasonicus

I understood that you talked about replacing old cash bills with new ones. Ok, my bad then.
But no, they don't print less money and it would be illogical to think that. If you wan't inflation and you create less money then the previous year, then it means that the economy would have actually shrinked, not inflated. The economy is still mostly in constant rise, because this stuff goes hand in hand with human population growth for instance. If the population rises, then more people produce and consume and that creates new real economic value. If you want stable inflation for the currency value, then you need to print more then the previous year to make the currency loose a little of it's value every year. The need for stable inflation is because it creates incentive to actually use your money and sit on it less. That's actually a good thing.

originally posted by: eitea
a reply to: booyakasha

I personally think that bitcoin would be a terrible practical currency because it doesn't have a mechanism for value stabilization and would actually give people incentive to get rich while just sitting on their ass, and not use it as an actual financial tool of trade that an currency should be. The block-chain technology has more potential in it, because of the security that the decentralized nature give to it, but in general most of the practical solutions for that technology are still on the level of inefficent databases. I have played with crypto in the past and had so much fun, but that fun was casino fun, not investment fun

Also no matter how much people think blockchains cant be changed they can they are software and are vulnerable it will happen again it has happened in the past turn bitcoin into real currency and it will happen 12 times a day

originally posted by: eitea
But no, they don't print less money and it would be illogical to think that.

Incorrect. This is the historical M1 data. There is less currency in circulation now than last year. There are in fact times when less currency is printed to replace older currency. The overall trend is an increase as the population increases but this has nothing to do with what really impacts the value of currency which is the selling and maturation of Treasury Bills.

a reply to: Joeshiloh

21433

a reply to: CynConcepts

I think and hope you are right. He seems to deal very well with what ever or anything he comes up against.

originally posted by: AugustusMasonicus
a reply to: Blue Shift

Sort of like President Crayons with Hurricane Katrina.

People tend to think that the President has a lot more power and control than he actually does. Maybe people want that to be true because it gives them a sense of security. Like somebody is in charge. But chaos has other plans.

a reply to: eitea

The Fed wants inflation not deflation.

originally posted by: CynConcepts
I am predicting Trump will be remembered in history for overcoming and strengthening Americas economy in spite of this pandemic and economic strain.

You could be right. He could be the luckiest guy who ever lived. Although I think that title still goes to Kelsey Grammar.

originally posted by: Joeshiloh
The Fed wants inflation not deflation.

Correct. A small amount of year over year inflation is good for the economy.

a reply to: Blue Shift

He seems to have some kind of charm or miracle that follows him.

a reply to: AugustusMasonicus

I personally can't see how you can print new currency in virtual form to replace old virtual currency. Could you pleae elaborate.

a reply to: Joeshiloh

Yeah, all central banks want inflation of the currency. You don't want rich people just sitting on their billions and getting richer without doing anything. The world would be a lot more FUBAR like that
Why illusions like bitcoin attract mostly poor people, is that they are mostly attracted to the idea of just sitting on something and getting richer while not having to do any work. The same attraction is the reason that has kept them poor in the first place.

Abolish the FED and return to gold standard..a reply to: Joeshiloh

originally posted by: eitea
I personally can't see how you can print new currency in virtual form to replace old virtual currency. Could you pleae elaborate.

How can I elaborate on something that doesn't occur? The United States doesn't print 'virtual currency'.