The Crypto Warning

originally posted by: tanstaafl

originally posted by: rounda
a reply to: tanstaafl

We're not on the gold standard anymore, bud. So the definition of inflation before Nixon ended USD to gold transferability no longer applies....

That's it? That's all you got? "We're not on the gold standard anymore"?

Rotflmao!!!

First, neither the Feducation series at the first link or the article in the WSJ at the second link were written when we were on a gold standard, so you're point is... insane (bud)...

Second, whether a country is on a gold standard or not is irrelevant to inflation. Inflation is caused by loose monetary policy that allows currency to be injected into the market at will.

You probably don't even understand the basics of how our current monetary system even works. I'll give you a hint: it is called a debt/usury based fiat system.

The USD is directly tied to the strength of economy and ability to pay back debt.

That is a purely nonsensical statement (bud)... the funniest thing about it is that you don't even know it.

Hence the reason the USD is one of the most stable currencies in the world, and used as a reserve currency.

It is used as the worlds reserve currency because it is (still - for now) the strongest, yes, but that is only because we used to have rather sane monetary policies - or at least not rabidly insane policies. Up until The Federal Reserve Act at least. It's been all down hill ever since 1933 when FDR stole the people's money (gold), then Johnson stole our silver when they debased the coinage (which was a death penalty offense until about 10 years before they did that, guess they didn't want to take any chances in case the people woke up to what they were doing) - but keeping us on the international gold standard (for foreign nations the dollar was still redeemable in gold until '73) kept the dollar relatively strong to that point. Yeah, it took a while to get where we are now, on the verge of hyper-inflation.

bud...

If a currency is backed by gold, and you print more bills, the value of that currency decreases because the limited supply of the gold backing the currency has to back up more of that currency...

If there's no backing asset, you're not devaluing the currency against anything, bud...

The value of the USD is solely based on the strength of the economy and the ability to pay pack debt. That's it.

Printing more of it doesn't affect either one.

I'm sorry this is so difficult for you to understand.

originally posted by: rounda
If there's no backing asset, you're not devaluing the currency against anything, bud...

You're devaluing it against anything and everything that you can buy with it... bud...

More money chaing the same amount of goods = prices go up.

I'm sorry this is so difficult for you to understand. bud.

originally posted by: tanstaafl

originally posted by: rounda
If there's no backing asset, you're not devaluing the currency against anything, bud...

You're devaluing it against anything and everything that you can buy with it... bud...

More money chaing the same amount of goods = prices go up.

I'm sorry this is so difficult for you to understand. bud.

No, bud.

The $5 bill in your pocket will always pay the same $5 in taxes to the federal government, regardless of whether or not it buys you less milk.

Bud.

originally posted by: rounda
in reply tooriginally posted by: tanstaafl
The $5 bill in your pocket will always pay the same $5 in taxes to the federal government, regardless of whether or not it buys you less milk.

Will it?

Pain... too bad for you deliberate ignorance causes the kind of pain there is no cure for...

originally posted by: tanstaafl

originally posted by: rounda
in reply tooriginally posted by: tanstaafl
The $5 bill in your pocket will always pay the same $5 in taxes to the federal government, regardless of whether or not it buys you less milk.

Will it?

Pain... too bad for you deliberate ignorance causes the kind of pain there is no cure for...

Yes, it will.

originally posted by: rounda
in reply to: tanstaafl
Yes, it will.

I note that you have no argument...

Ignorance is bliss.

originally posted by: tanstaafl

originally posted by: rounda
in reply to: tanstaafl
Yes, it will.

I note that you have no argument...

Ignorance is bliss.

There's nothing to argue. $5 will always pay $5 in taxes, regardless of what tax bracket you're in.

5 is 50% of 10, 33% of 15, and 25% of 20...

originally posted by: rounda
originally posted by: tanstaafl
5 is 50% of 10

10... what? Lemons?

If those 10 lemons are half the size of the lemons you got last year, then you are getting much less lemons for your $5.

Etc, etc...

-yawn=

Wake me up when you stop saying dumb things...

originally posted by: tanstaafl

originally posted by: rounda
originally posted by: tanstaafl
5 is 50% of 10

10... what? Lemons?

If those 10 lemons are half the size of the lemons you got last year, then you are getting much less lemons for your $5.

Etc, etc...

-yawn=

Wake me up when you stop saying dumb things...

If you're going to repeat the same thing over and over again, we're done.

$5 pays $5 in federal taxes regardless of how many lemons you can buy.

It doesn't pay $4 in taxes when prices go up, it doesn't pay $6 in taxes when prices go down.

It pays $5 in taxes.

Period.

originally posted by: rounda
$5 pays $5 in federal taxes regardless of how many lemons you can buy.

You sure are fond of taxes.

Yeah, so, your inflated $5 pays $5 worth of a much higher tax bill - higher, because... inflation.

Period.

originally posted by: tanstaafl

originally posted by: rounda
$5 pays $5 in federal taxes regardless of how many lemons you can buy.

You sure are fond of taxes.

Yeah, so, your inflated $5 pays $5 worth of a much higher tax bill - higher, because... inflation.

Period.

That's not how percentages work...

If you make $50k/year, and next year the dollar is worth less, based on the same tax rate, you are paying less in taxes.... by your logic....

$5 ALWAYS pays $5 in taxes. That's it. End of discussion.

Goodbye.

originally posted by: rounda
If you make $50k/year, and next year the dollar is worth less, based on the same tax rate, /quote]
I find it hilarious that you don't understand that the tax rates will go up.. because... inflation.

But its really not hilarious, it is simply proof that you actually don't understand... inflation...

Tah-tah...

a reply to: tanstaafl

Except they don't change tax rates every year. The adjust income levels and deductions. The rates stay the same unless there is legislation that changes them, like in 2017.

For instance, this year, they increased the income level in the tax brackets, meaning, larger segments of the population are now eligible to pay less taxes.

Again.

$5 pays $5 in taxes. ALWAYS.

Its crazy how literally everything you've said in this thread has been demonstrably false and you're still acting like a douche.

originally posted by: rounda
a reply to: tanstaafl

Except they don't change tax rates every year. The adjust income levels and deductions. The rates stay the same unless there is legislation that changes them, like in 2017.

Same thing...

Also, you totally ignore the actual loss of purchasing power... which is, actually... the result of... inflation.

Its crazy how literally everything you've said in this thread has been demonstrably false and you're still acting like a douche.

a reply to: tanstaafl

Whatever, I'm done arguing with you. You're a dumbass.

a reply to: CloneFarm1000

Where is it going?

Wondered that for years, still have no clue except it ain't me that's getting any rewards.

originally posted by: rounda
a reply to: tanstaafl

Whatever, I'm done arguing with you. You're a dumbass.

Promises, promises...

It looks as though crypto most likely was started by the TPTB in a long game plan

I do not know the exact timeline but it seems as though this Final expansion of the money supply (debt) and its effects on the conman mans purchasing power is all part of the great reset

You will own nothing not because you can’t it will be because they have made the Monopoly game too hard for you to even start, you don’t ever get to even have the idea of owning a property let alone build a house on it

I believe a war will most likely have to proceed such an event of changing to a government world digital currency and the outright banning or absorption of all private currency or private anything

Either all the pre boomer economists have all finally died and their is no one left to say the cliche “think about the children”

Crypto or digital currency is certainly the future but will not be what we would like unfortunately

originally posted by: Ksihkehe
They absolutely will crack down on it. Most of the things they do to restrict freedom and access won't be observable to Joe Public. It's the same as the Internet.

Figured I'd bump this thread since the other one we were chatting in is closed.

Ruh-uh, who's that a knock, knock, knocking?

A Fed-backed digital dollar would then provide many of the benefits touted by cryptocurrencies without their wild price swings and usage fees. In theory, a CBDC would meld the best aspects of physical and digital currencies for the average American.

A CBDC likely wouldn't feel all that different from a regular dollar. People already use digital cash when they shop with credit or debit cards, but in those situations, the currency is backed by private-sector banks. Should the Fed introduce a CBDC, Americans would be able to shop with a digital dollar backed by the country's central bank. If that sounds outlandish, it shouldn't; physical dollar bills are already backed by the Fed, not by commercial banks. Source

Granted, they are saying that 'they haven't made up their mind' but they've made up their mind.

a reply to: AugustusMasonicus

LOL

You just tagged me hoping I'd continue my hissy fit, didn't you?

I'm happy that they shut that thread down and to continue my hissy fit.

If you go to another conspiracy site and type in Shib you'll see an incredible timeline of how this worked. It starts with influencers, eventually gets take up by an "army" of diamond hands that will never sell, then become a sad series of excuses/gimmicks/pathetic technical analysis, all while the influencers disappear to shill the next scam.

I'd be curious to hear what the 60k BTC shillers have to say. I said it was going to 36k. Almost a 2-4-1 deal if they waited.