Global Depression 2022 - Time to do the Breadline Boogaloo!

[Kujo Jotaro]

I may be naive but i think that they will raise rates.

They'll bluff till they're blue in the face about raising rates, I doubt they'll ever actually do it though.

 

[mindlessobserver]

Everything I have seen from the last couple years is that the elites have thrown in the towel on kicking the can any further. They are preparing for an imminent currency reset.

They can't. It is too far gone to fix.

Volker Era rates wouldn't cut it.

I think they don't even know where the money is a anymore. They can't say how big the money supply is because they don't know.

 

[Only A Retard Sometimes]

I think they don't even know where the money is a anymore. They can't say how big the money supply is because they don't know.

since most of it is digital was it ever real money?? what if the go 100% clown world and just press delete?

 

[Sanshain]

There is no such thing as absolute value in terms of wealth. Gold is worth less than water to the man in the desert, for classic example.

That's an incredibly naive way to look at things. For one thing, you seem to forget that gold was almost exclusively mined from desert countries for centuries. This little 'gotcha' is meaningless as soon as it's applied to any kind of scaling system. Yes, on a personal level a man will value the necessities of life above valuable things (with exceptions even then, because some people are idiots), but the moment you escalate things to a group level, the picture becomes more nuanced.

 

[Sped Xing]

There is no such thing as absolute value.

That's an incredibly naive way to look at things. For one thing, you seem to forget that gold was almost exclusively mined from desert countries for centuries. This little 'gotcha' is meaningless as soon as it's applied to any kind of scaling system. Yes, on a personal level a man will value the necessities of life above valuable things (with exceptions even then, because some people are idiots), but the moment you escalate things to a group level, the picture becomes more nuanced.

It's not a "gotcha," dummy, it's an old illustration that value is always relative. I'm not saying we should back our money with water; I'm saying nothing has value outside of human wants.

Gold was valued extremely long before people found practical uses for it.

 

[Sanshain]

There is no such thing as absolute value.

It's not a "gotcha," dummy, it's an old illustration that value is always relative. I'm not saying we should back our money with water; I'm saying nothing has value outside of human wants.

Gold was valued extremely long before people found practical uses for it.

Uhm, no. Gold has always had a practical use. The practical use it had before we discovered how to use it to make electronics was as currency. That's still practical.

 

[Meat Target]

since most of it is digital was it ever real money?? what if the go 100% clown world and just press delete?

Such was the plan of my favorite Bond villain.

Uhm, no. Gold has always had a practical use. The practical use it had before we discovered how to use it to make electronics was as currency. That's still practical.

And jewelry, and decoration.

 

[Sped Xing]

Uhm, no. Gold has always had a practical use. The practical use it had before we discovered how to use it to make electronics was as currency. That's still practical.

"Gold has value because you can make coins of it, and coins have value because they're made of gold."

Neato.

 

[Hippopatumus]

Bernanke and Paul spar over gold

Republican Rep. Ron Paul of Texas questions Federal Reserve chairman Ben Bernanke about whether gold is money or not.

www.youtube.com

 

[Only A Retard Sometimes]

Such was the plan of my favorite Bond villain.
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And jewelry, and decoration.

Fun fact: the US one dollar gold coin was so small (smaller than a dime) that most of them ended up as jewelry because to actually use them had a pretty good risk of losing them. how many times have you lost a dime or penny on the ground?

"Gold has value because you can make coins of it, and coins have value because they're made of gold."

Neato.

it also doesnt tarnish or rust and is infinitely recyclable.

 

[Meat Target]

"Gold has value because you can make coins of it, and coins have value because they're made of gold."

Neato.

What it's used for doesn't necessarily have to be utilitarian.

 

[Sped Xing]

What it's used for doesn't necessarily have to be utilitarian.

No, and I'm not arguing that gold isn't valuable.

I'm saying the idea that it has magical absolute value is dumb.

 

[Only A Retard Sometimes]

No, and I'm not arguing that gold isn't valuable.

I'm saying the idea that it has magical absolute value is dumb.

does its scarcity not give it a value floor some distance over the $0 mark?

 

[Kujo Jotaro]

does its scarcity not give it a value floor some distance over the $0 mark?

Not in the way he's arguing, essentially what he's saying is value is relative.

Beauty is in the eye of the beholder, and value is in the pocketbook of the purchaser.

That being said, all things considered if any asset should be universally considered to have value outside of basic necessities it would be gold. The status it holds in humans collective consciousness is unparalleled; gold is not just synonymous with wealth, to many people it literally is wealth.

 

[Sped Xing]

Value of anything is relative, because it's only worth what someone will trade for it.

"Absolute value" would mean something had the same value to everyone, or more charitably across all large groups, and that's not true of anything at all.

The reason I brought up gold having limited utility until the last century or so is it's an argument PM fans always bring up which also makes no sense. Water, also, has undoubted utilitarian purposes, and yet its value is not absolute.

 

[Hippopatumus]

Gold has incredible market depth and liquidity. That's what gives it a price. That's what drives the value and exchange rate vs other assets and commodities. While it's fallen out of favor in place of fiat currencies and, more recently, crypto, it still maintains it's relevance. You can go sell a billion dollars worth and the market will barely move.

Gold's threat in the modern era is not relevance. No, its threat is that as world currencies are re-evaluated, capital controls will target its trade. Cryptocurrencies face the same vulnerability btw.

 

[HTTP Error 404]

They'll bluff till they're blue in the face about raising rates, I doubt they'll ever actually do it though.

They just have to hold out until Trump wins in 2024, then they can crash the economy with no survivors and it'll be his fault, not Biden's. 3 more years, they can keep this running for 3 more years! Go team blue!

 

[Hippopatumus]

They just have to hold out until Trump wins in 2024, then they can crash the economy with no survivors and it'll be his fault, not Biden's. 3 more years, they can keep this running for 3 more years! Go team blue!

This is unironically what I expect to happen.

 

[Ancient Pioneer]

They just have to hold out until Trump wins in 2024, then they can crash the economy with no survivors and it'll be his fault, not Biden's. 3 more years, they can keep this running for 3 more years! Go team blue!

If the economy stays in such condition for a full 4 years and Biden somehow beats Trump in a sketchy election again, I think you would actually get some sort of violent spergout with fatalities, not civil war like the doomers hope for, but random people mass shooting shit up. Nobody would believe the election after going through 4 years of this stagflation, somehow the confused boomer that mismanages literally everything because he is mentally in the next dimension won? Half the population would realize that yes, the system is well and truly fake and gay and the people benefiting from it had to go by any means possible. Not that I believe Biden is actually going to run, the fucking media is already openly talking succession and who would be the democrat runner in 2024, he was basically a fucking lameduck President in his first hundred days onward, this is going to be a fucking unbearable 3 more years because this decrepit old man just wont die and give us the benefit of having a younger person, even if she is a sociopath, as President.

 

[Meat Target]

They just have to hold out until Trump wins in 2024, then they can crash the economy with no survivors and it'll be his fault, not Biden's. 3 more years, they can keep this running for 3 more years! Go team blue!

Given that the fuckups are piling higher and faster, I'm not sure they can hold out that long.