The Bitcoin Standard

dragulagu said:
What the hell is happening..I'm confuzzled. Is Europe getting trapped in all what is happening now?

https://finance.yahoo.com/quote/EURUSD=X/
Click to expand...

Well like I say, the market thinks that Europe will have to print a whole bunch of money, while the US is temporarily stopping the printing to fight inflation. So euro is getting devalued faster.

US can handle Russia shocks better than Europe. We here are fucked if we embargo Russia's resources, the bills for gas and oil will skyrocket. So possibly Europe will have to print money and give stimulus checks to people.

Thankfully I don't hold my main savings in euro lol. It's all either in crypto or in USD stablecoins.
 
dragulagu said:
That is not how the European economy works. That is why I am responding like that.
Click to expand...
Just to clarify here @philostam instead of the one phrase response I did there. Europe won't be able to just print money without some strong political consensus of
all its members. And in general the economical changes are both pushed through the IMF and the European central banking system. I don't think either will make
the decision to print out more euro's, like the central bank in the US does. But rather go with different funding strategies (it'll be a rough year though for the European economy).

https://www.euractiv.com/section/ec...eurozone-2022-growth-forecast-on-ukraine-war/
 
dragulagu said:
Just to clarify here @philostam instead of the one phrase response I did there. Europe won't be able to just print money without some strong political consensus of
all its members. And in general the economical changes are both pushed through the IMF and the European central banking system. I don't think either will make
the decision to print out more euro's, like the central bank in the US does. But rather go with different funding strategies (it'll be a rough year though for the European economy).

https://www.euractiv.com/section/ec...eurozone-2022-growth-forecast-on-ukraine-war/
Click to expand...

I know that in theory Europe central back is not allowed to buy member's government debt.

But this is bullshit. Maybe ECB is not buying government's treasuries, but it IS injecting money into the economy via banks and other financial institutions.

And when things are really bad, you can be sure they're gonna by buying governments debt directly. In fact, I remember that they did something similar for Covid relief. Maybe it was just structured and worded a bit differently.

PS: I see a huge amount of printing since 2020. And only the 5x increase in it's balance sheet since 2008 lol.

tt.jpg
 
Last edited:
Promoting Bitcoin is ethical.

The president of a country can come on TV and say that he thinks everyone should own Bitcoin. That would be the same as if the president of a country would come and say that he thinks everyone should own a farm and a horse.

Promoting securities and shitcoins is unethical, though. President of a country cannot come on TV and say that everyone should own an Amazon stock.

That's one difference between Bitcoin and shitcoins. One is a decentralized commodity like gold, silver, oil, wood. The others are securities.
 
I suppose if you consider fiat money and money printing has its unethical aspects, then maybe bitcoin isn’t unethical or as unethical as I thought. I don’t know enough about it, so won’t go there myself. Good luck and enjoy your Lamborghini lol
 
David Nelson said:
I suppose if you consider fiat money and money printing has its unethical aspects...
Click to expand...

LOL! :D

The more I have read, the more I have come to think that it is entirely unethical, if not immoral.

It’s a lie, a sham, a scam, a pretense of the most epic proportions. People suffer and die because of it.

My parents explained the gold standard and move away from it when I was a child. They didn’t tell me what to think, but I arrived at this myself: “it doesn’t make any sense...money can be any value, just because someone says so?”

Money used to be a shorthand that actually represented a finite resource of scarcity and international consensus value.

Cheers,
Ian
 
You’re lucky aeon to have parents who knew stuff. Mine were as ignorant as it comes, although they were nice people who had integrity and a certain natural wisdom. But they weren’t well educated or intellectual. But doesn’t money printing affect most people at the same time over the course of time? With probably exception of bankers and investors, which is always unethical imo
 
The rich benefit the most out of money printing. Money gets injected in the economy via debt. The winning strategy in our system is too have as much debt as possible and channel it into assets that grow in value over time. This is basically free money.

You borrow 5 million in 2000, put it into a nice beach house in Miami, wait 20 years and the value of the property probably goes up 400%. In the meantime you pay the monthly payments via some other cash flows you have.

You'd think rich people have the least debt, but they actually have the most. They understand that debt is free money due to our currency system. The poor on the other hand cannot even get loans, or if they do, the monthly payment to repay it is too big of a percentage of their cash flows.

You cannot new inject money into the economy without increasing the amount of goods and services. Simple. If you do, you are just gonna create bubbles and wealth inequality, and punish savers.
 
David Nelson said:
You’re lucky aeon to have parents who knew stuff. Mine were as ignorant as it comes, although they were nice people who had integrity and a certain natural wisdom. But they weren’t well educated or intellectual. But doesn’t money printing affect most people at the same time over the course of time? With probably exception of bankers and investors, which is always unethical imo
Click to expand...

I didn't have such parents either, but so what? You can learn new things by yourself, you know? :)
 
JUST IN: Inflation in Turkey soars to almost 70% - Financial Times.

Meanwhile, the IMF is "worried" about the trend of countries adopting Bitcoin as their treasury reserve because it's too volatile lol.

Guess what, noobs at IMF. Bitcoin might drop 70%, but then also recovers with a 500% rally. Fiat currencies drop by 70%, and then by another 70% next year.
 
You must log in or register to reply here.
Back
Top