Financial topics

Investments, gold, currencies, surviving after a financial meltdown
vincecate
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Re: Financial topics

Post by vincecate »

Hey, John, Higgy, and Aeden, what do you guys think of Bitcoin?

Higgenbotham
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Re: Financial topics

Post by Higgenbotham »

vincecate wrote:Hey, John, Higgy, and Aeden, what do you guys think of Bitcoin?
Bitcoin does have a residual or minimum value in that it can be used in some cases as the best means to evade government controls or laws. I'm not up on exactly how useful it is for that purpose at this point in time. Beyond that, I don't know that it really has any value. One problem I see with it is that there are potentially thousands of cryptocurrencies and it's hard to say which one(s) will be universally adopted if or when cryptocurrencies come into widespread use.

If anyone followed the attempt of Facebook to create a cryptocurrency (the Libre, I believe) they would know much more than me about this subject.
While the periphery breaks down rather slowly at first, the capital cities of the hegemon should collapse suddenly and violently.

vincecate
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Re: Financial topics

Post by vincecate »

Higgenbotham wrote:
vincecate wrote:Hey, John, Higgy, and Aeden, what do you guys think of Bitcoin?
Bitcoin does have a residual or minimum value in that it can be used in some cases as the best means to evade government controls or laws. I'm not up on exactly how useful it is for that purpose at this point in time. Beyond that, I don't know that it really has any value. One problem I see with it is that there are potentially thousands of cryptocurrencies and it's hard to say which one(s) will be universally adopted if or when cryptocurrencies come into widespread use.

If anyone followed the attempt of Facebook to create a cryptocurrency (the Libre, I believe) they would know much more than me about this subject.
I was one of the founders of the "Financial Cryptography Conference" in Anguilla, starting in 1997. See http://ifca.ai/fc97/
If someone made a list of the top 10,000 people who might be Satoshi, I think they should put me on it. :-)

It is a very good point that there are thousands of currencies and more all the time. The way I see it Bitcoin came first but many others came along that were in some way 5 times or 10 times better. By 2017 Bitcoin had dropped from 100% to 1/3rd of the total cyrpto coin market cap. But then version 2.0 of Bitcoin came out (lightning network). It is 1000++ times better than version 1.0 Bitcoin (in sort of speed and cost per transaction measures as well as privacy). It is far better than most of the competitors now and has gone from 1/3 market cap to 2/3rd of total market cap. I think the fire-mover/size/network-effects and having one of the best designs mean it probably will be one of the final 10 crypto coins alive (I expect most of those thousands to fade away).

Bitcoin can move money for much lower cost than wire transfers, credit card, western union, etc. Right now it is like $0.50 no matter home much you move. Compared to $100 and 5 days, an hour in the bank, for a wire transfer this couple clicks and you are done is amazing. I think people that have used it don't want to go to the bank again. I have had wires come back after 10 days because some bank along the way said something sort of like "we don't want to send a wire to Russia" or "we don't like wires related to Bitcoin". Nobody bounces a Bitcoin transfer and they know the money is good and on the way in seconds and usually get it in 10 minutes to 1 hour. Version 2.0 is well under $0.01 and finishes in like 2 seconds but people are only using it for small amounts so far.

I have a Bitcoin ATM, see http://bitcoin.ai/

Part of what makes Bitcoin great is that there is no company or person in charge. So no government can put pressure on anyone to block transactions or anything like that. Facebook/Libre would have an organization that governments could go after, and they already have started really.

I think fiat money is a bad place to put savings. Bitcoin just has to be better. The demand for Bitcoin is growing fast as lots of new users learn about it and the new supply is very small compared to how fast new fiat money has being made each month.
Last edited by vincecate on Sun Nov 10, 2019 9:30 pm, edited 1 time in total.

John
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Re: Financial topics

Post by John »

** 10-Nov-2019 World View: Hyperinflation
vincecate wrote: > Do you think the Fed can print as much as they want without risk
> of hyperinflation?

> The US government budget is around $4 trillion per year. If the
> Fed prints $1 trillion every year you think it would be fine?
Yes and yes. I've told you a million times.

Do you recognize the irony that you've been saying exactly the
same thing, using the same words, for 15 years, changing only the
numbers each year? And still there's no hyperinflation, and barely
any inflation at all.
vincecate wrote: > I expect this "Not QE" to print more than $1 trillion in 12
> months. What about $2 trillion, or $3 or $4 trillion per year? If
> there is no big risk from printing money, should the US just do
> away with taxes?

> The numbers are bigger for the USA than Argentina or Venezuela,
> with the US being a reserve currency for the world, maybe even as
> different as a bathtub and a swimming pool, but it is not as
> different as a bathtub and the ocean. I do expect the phenomenon
> to work the same way, just on a bigger scale.
No, it's an ocean, not just a swimming pool.

Back in 2008, I was writing a lot about the global debt bubble. As I
wrote at the time, the Bank of International Settlements said that
there are over $1 quadrillion ($1,000 trillion) worth of credit
derivatives and other structured finance securities in the portfolios
of financial institutions around the world.

Money created through debt is just as real as the money "printed" by
the US government. If your $50K home increases in value during a debt
bubble to $500K, and you borrow $400K against your home, then you can
spend that money on cars, groceries, sex, or whatever you want. It's
the same money.

So the debt bubble injected over $1 quadrillion of money into the
global economy without causing inflation. And you're telling me that
that if the Fed does $4 trillion in QE, it will cause hyperinflation?
Bullsh-t.

Really, this is the same argument we were having ten years ago.
There's not gonna be any hyperinflation. Period.
vincecate wrote: > Even Krugman, who very much likes money printing (nobody would
> call him a Gold Bug) thinks the USA could only get away with a few
> percent of money printing per year without inflation spiraling out
> of control.

> https://krugman.blogs.nytimes.com/2011/ ... DbMzpgAg8k
Krugman's an idiot. He got the Nobel prize because he hated Bush.

There's a good point to be made here. Most economists are idiots,
whether on the right or the left. The only reasons their forecasts
are ever right is because they make the same forecasts every year, and
that's right most of the time. But if something unusual happens they
don't have the vaguest clue.

"There were two economists who were shipwrecked on a desert
island. They had no money but over the next three years, they made
millions of dollars selling their hats to each other."

So listen to Krugman if you'd like. Or dump a bowl of oatmeal on your
head. They're roughly equivalent.

John
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Re: Financial topics

Post by John »

** 10-Nov-2019 World View: Neil Howe and war with China
Higgenbotham wrote: > Neil Howe is asked point blank whether he thinks we are going to
> war with China.

> https://youtu.be/HWVj970xB5o?t=1975
Lol! That was a pretty wishy-washy answer, wasn't it.

Neil Howe and his spokesman David Kaiser have almost completely given
up the TFT theory, because they've turned it into a vehicle for
Democratic party politics.

The original theory was non-ideological, and made it clear that there
would be a major war between 2005 and 2025. But they gave that up
during the Bush administration, because it would support the NeoCons.

Then they decided that the Fourth Turning crisis would not be a war,
but would be the major social changes brought about by Barack Obama's
policies, turning America into a social Nirvana.

That they could even believe something so ridiculous as that shows
that neither of them has the vaguest clue how their own theory works.
It seems that the only one who understood the original theory was Bill
Strauss, but he's dead.

Now in the Trump administration, they're faced with the horrifying
reality that we're headed for war with China but, like most people on
the left, they'd rather think about impeachment or socialism. The
nightmare scenario for them, the worst nightmare in the world, is that
Trump would lead America through WW III, making Trump a historic hero,
one of the great presidents, like Washington, Lincoln, and Roosevelt.
That's too terrible for them even to think about it.

So that explains Howe's conflicted answer in the youtube video.

aeden
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Re: Financial topics

Post by aeden »

https://www.zerohedge.com/political/lon ... -socialism

Debt served one purpose.

Neocons are dual passport and yes the purpose was to drain us dry and wither away.

"Once we squeeze all we can out of the United States, it can dry up and blow away."

"America is a golden calf and we will suck it dry, chop it up, and sell it piece by piece until there is nothing left but the world's biggest welfare state that we will create and control. This is what we do to countries that we hate. We destroy them very slowly."

The long march through the Institutions is real. Ask Nancy and Chuck to deny it.

aeden
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Re: Financial topics

Post by aeden »

vincecate wrote:Hey, John, Higgy, and Aeden, what do you guys think of Bitcoin?
If you had a midnight express problem it would already be to late.
Ask Assange being murdered before our eyes what the Beast truly is and wants.

A friend from Ankara could not and would not be voice printed to escape the evil seen coming.
This was before it was even on the public radar since the public at large is mentally handicapped here
to what was and what is growing.
I will look up the date in the forum when the wrong phone app was a bullet in the back of the head.

Americans law enforcement is being hunted as the Senator expounded the other day.

Welcome to the real issues Senator.
We will move ours one more time and hope the people who are supposed to think
even pretend to f!@$%ing care.

DNC as we see on a separate thread are not good. I hold no malice to that cult since that would consume time and regard
to evil and blood guilt of our tax dollar. We also realize the World only allows them to be so good as we warned.
I will be brief to the point they only got 33 ways to the usual suspects to malign people for perception management.

Colloquialism for the rest to sleep at night would suffice for now.
http://gdxforum.com/forum/viewtopic.php ... sci#p48240

As John correctly notes: Or, as Higgie says, when we enter a new
dark age. Or when the AI robots are our overlords?
It's going to be an unbelievable disaster no matter what the number is.

As we noted watch the safety valve called metals for now. We are raising cash and the usual beta basket as discussed for now.
https://www.zerohedge.com/s3/files/inli ... k=jHib7R0Q

The actual thread is - The alliance theory.
As it was put clearly before. A bent of mind contrary to the Book and the Letter.

Basically to keep it simple, not including the advanced readers States seek security from threat rather than from power.
The distinction between power and threat is appealing. Power in and of itself is neutral, and its consequences can be either benevolent or destructive.
This does not dilute the GD or GGS thought maps.

https://www.youtube.com/watch?v=1WTATreAg08
Last edited by aeden on Tue Nov 12, 2019 9:33 am, edited 1 time in total.

aeden
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Joined: Sat Jul 31, 2010 12:34 pm

Re: Financial topics

Post by aeden »

vincecate wrote:Hey, John, Higgy, and Aeden, what do you guys think of Bitcoin?
https://myirainvestment.com/index

They will be looted by -them- and no they do even pretend to care.

“It is difficult to get a man to understand something, when his salary depends on his not understanding it.”
book one YTD 24.88%
not playing the game
will sift, sort, sideline for now as indicated
maybe decemberish and ai implementation thread updates

as we warned only 288 bias loops to reconsider

repo loop was gamed but had to switch off on a dime
Last edited by aeden on Tue Nov 12, 2019 9:29 am, edited 2 times in total.

vincecate
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Re: Financial topics

Post by vincecate »

Of the 4 active posters the last few days one seems like they should operate from an Anguilla domain name. I would be happy to help make that happen.

Higgenbotham
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Re: Financial topics

Post by Higgenbotham »

Just change the date and "seventh" to "eleventh" and you're good to go.
Higgenbotham wrote:Mega-Bank CEOs Announce Cancellation of Stock Market Crash

October 6, 2015 - New York - For the seventh consecutive year, the US banking cartel has canceled an impending autumn stock market crash. During a press conference this morning, Goldman Sachs CEO Lllloyd Bllllankstare, flanked by JP Morgan and Bank of America mega-bank CEOs Jamie Diamondssss and Samuellll Rambullll, announced the impending cancellation of the traditional October crash. Bllllankstare, speaking on the condition that his comments be considered anonymous, stated that the traditional autumn crash is no longer necessary, “because we own most of the stock anyway.” He did note, however, that the autumn crash has not really disappeared, making the distinction between 2 new terms that have recently entered the mega-bank lexicon - “downcrash” and “upcrash”. “In the past, we traditionally engineered downcrashes so we could accumulate stock, but since we now own most of the stock it is actually more advantageous to engineer upcrashes,” Bllllankstare said. “Crashes themselves have not disappeared.” Rambullll, the Bank of America CEO who replaced Eddie Dropbear in 2008, the last year a stock market crash occurred, echoed those comments saying, “We ram the market up now, rather than drop the market. Ramming is considered by our strategists to be a quantum mechanical phenomenon, rather than a Newtonian phenomenon.” When asked by reporters why their names have recently changed to incorporate 4 identical letters in a row rather than the traditional 1 or 2, Bllllankstare and Rambullll replied in unison that, “Letters are free, like money.” “Really, it’s just another way to show that there are no limits to growth,” Rambullll elaborated. “People need to be thinking in terms of the infinite and - when they think in those terms - numbers, words and other metrics can really grow exponentially.” When asked if profits matter anymore, Diamondssss stated that when money and letters are free there is no need for profits. “It’s not like we need to use ink and paper to print all these letters or digits anymore,” he said. “We just create them out of thin air and everyone grows rich, either through trickle-down or, with our new techniques, trickle-up. Our cutting edge research has shown that the problems that occurred in the past due to printing too much money, such as stock market crashes and hyperinflations, were more related to the cost of the ink and paper. We don’t need to worry about that anymore. It really is a beautiful new era of unlimited wealth.”
While the periphery breaks down rather slowly at first, the capital cities of the hegemon should collapse suddenly and violently.

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