Bitcoins - about to hit $5,000 per coin today!

[pellius]

The problem for people of your thinking is you immediately go to the extreme where the world is ending and that somehow we print a trillion dollars a week.

The poster having a go at me in the other thread, vomits up a claim that today we are in hyperinflation...... today.... LOL.... hyperinflation is defined as 50% inflation per month. Lets look at his claim by viewing New York where the ave fuel price in February was $2.54/gallon. His claim is 50% inflation per month therefore his claim is the price of fuel has been March $3.81, April $5.72, May $8.57, June $12.59, July $19.29, August $28.93.

The actual price of fuel in August is $2.18/gallon which is a 14% decline in the price pre covid. Deflation....... yet he is claiming we are all experiencing 50% inflation per month meanwhile in the real world shit is cheaper lol. That is a claim from someone having a go at me claiming i don't know anything.....

Demand for everything just died! As a result, the leverage is unwinding like a rocket and causing deflation. That isn't a 'scam' dude. We just shut the entire globe down due to a pandemic. WTF do you think would happen? The QE you are seeing being created right now is plugging the gap of the outflow, trying to keep us afloat, that's what you do.

Your fuel doesn't cost you $28/gallon. Your bread doesn't cost you $20/loaf.  But your house probably dropped 10%. What does that tell you?  Hopefully not hyperinflation lol.

I'm not a politician. I don't work for a bank. I am heavily involved in business intelligence and strategy.

I like debate but i'm not taking personal jabs at others so please don't do them to me.

I'm no expert and one has to try to make sense out of all the different opinions and interpretations by people who follow these things closer than I do but you definitely seem to be one of the more credible commentators here.

[Bevo]

Mayday is putting a owning in this thread 

[Mr Anabolic]

Mayday is putting a owning in this thread 

But he's not "explaining" what's really going on, just the typical bullcrap that you would hear on CNBC everyday.  He's stating the obvious and arguing semantics.   

The entire monetary system is a SCAM... that's the real issue here.  They'll never tell you that on CNBC or FOX Business.  The fiat dollar system has been losing purchasing power for the last 100 years.  We've been robbed.  After the US was fully taken off the gold standard in 1971 it became much worse.  It was all done in plain sight, right under peoples noses.  Sadly, most ppl today are too distracted and apathetic to see it.  They are debt/wage slaves and they have no idea why.         

[Griffith]

But he's not "explaining" what's really going on, just the typical bullcrap that you would hear on CNBC everyday.  He's stating the obvious and arguing semantics.   

The entire monetary system is a SCAM... that's the real issue here.  They'll never tell you that on CNBC or FOX Business.  The fiat dollar system has been losing purchasing power for the last 100 years.  We've been robbed.  After the US was fully taken off the gold standard in 1971 it became much worse. It was all done in plain sight, right under peoples noses.  Sadly, most ppl today are too distracted and apathetic to see it.  They are debt/wage slaves and they have no idea why.       

Agree 100 %

Not only for the US but for the world.

Now, instead of relatively stable currencies based on the value of gold, we now have far more volatile currencies, especially in poorer countries. The value is now determined almost solely by supply and demand and speculative investing in the money market which is highly liquid, so this money can be dis-invested quickly causing huge swings in currency value and even crashes.

Without a gold backed standard, it's very difficult for a country to maintain a stable currency within a range of set values or even a pegged or semi-pegged currency to the US dollar or a basket of currencies. As pegging a currency requires immense financial reserves in order to maintain the value within a set range but more importantly to defend from 'speculative attack'. As large banks will deliberately try and force the Reserve Bank out of reserves to defend the currency, if they believe there is a chance.

'Speculative attack' is a legitimate term in economics and and happened in the 1997 Asian financial crises. This is the reason the Thai baht collapsed, as their currency was being deliberately weakened by speculative traders, pushing the range to the lower limits thus forcing the Reserve Bank to 'defend' the currency and use foreign reserves. Eventually, they ran out, the Reserve was no longer able to defend and the currency crashed allowing local assets to be bought extremely cheap. I believe the Bank of Thailand has implicated Soros as being involved in this.

The next instance of an attempted speculative attack to crash a currency occurred in Hong Kong a few years ago. Once again, the Reserve Bank had stated they believed Soros to be involved. Like Thailand before, their HK dollar is still pegged to the US dollar, but unlike Thailand in 1997 they have huge reserves of foreign currency. Though there was an attempt, as the official range of their peg was almost breached and was pushed for a period.

Getting rid of the Gold Standard under the Bretton Woods System, was in my opinion done to favour wealthier countries as poorer countries would be condemned to have almost perpetually weak currencies. Now, it's all in the name of 'supply and demand' and they can no longer maintain a stable or strong currency. Of course, the official rationale is that the discrepancy in currency values would help trade and promote investment with those poorer countries....

[Mr Anabolic]

Agree 100 %

Not only for the US but for the world.

Now, instead of relatively stable currencies based on the value of gold, we now have far more volatile currencies, especially in poorer countries. The value is now determined almost solely by supply and demand and speculative investing in the money market which is highly liquid, so this money can be dis-invested quickly causing huge swings in currency value and even crashes.

Without a gold backed standard, it's very difficult for a country to maintain a stable currency within a range of set values or even a pegged or semi-pegged currency to the US dollar or a basket of currencies. As pegging a currency requires immense financial reserves in order to maintain the value within a set range but more importantly to defend from 'speculative attack'. As large banks will deliberately try and force the Reserve Bank out of reserves to defend the currency, if they believe there is a chance.

'Speculative attack' is a legitimate term in economics and and happened in the 1997 Asian financial crises. This is the reason the Thai baht collapsed, as their currency was being deliberately weakened by speculative traders, pushing the range to the lower limits thus forcing the Reserve Bank to 'defend' the currency and use foreign reserves. Eventually, they ran out, the Reserve was no longer able to defend and the currency crashed allowing local assets to be bought extremely cheap. I believe the Bank of Thailand has implicated Soros as being involved in this.

The next instance of an attempted speculative attack to crash a currency occurred in Hong Kong a few years ago. Once again, the Reserve Bank had stated they believed Soros to be involved. Like Thailand before, their HK dollar is still pegged to the US dollar, but unlike Thailand in 1997 they have huge reserves of foreign currency. Though there was an attempt, as the official range of their peg was almost breached and was pushed for a period.

Getting rid of the Gold Standard under the Bretton Woods System, was in my opinion done to favour wealthier countries as poorer countries would be condemned to have almost perpetually weak currencies. Now, it's all in the name of 'supply and demand' and they can no longer maintain a stable or strong currency. Of course, the official rationale is that the discrepancy in currency values would help trade and promote investment with those poorer countries....

Today's prices of $2060 gold and $28 silver is still very cheap, especially silver.  They both have a LONG way to go. 

I bought a shit-ton more when silver dumped to $12 in March.  What an incredible gift that was.  They'll be some bumps along the way, but silver is easily going to $100 at some point in the near future.  The COMEX and paper market is losing control of it.     

[Mayday]

But he's not "explaining" what's really going on, just the typical bullcrap that you would hear on CNBC everyday.  He's stating the obvious and arguing semantics.   

The entire monetary system is a SCAM... that's the real issue here.  They'll never tell you that on CNBC or FOX Business.  The fiat dollar system has been losing purchasing power for the last 100 years.  We've been robbed.  After the US was fully taken off the gold standard in 1971 it became much worse.  It was all done in plain sight, right under peoples noses.  Sadly, most ppl today are too distracted and apathetic to see it.  They are debt/wage slaves and they have no idea why.       

You said: --> The "system" is a fucking scam... that's all anyone needs to understand.

You then said about me: --> But he's not "explaining" what's really going on

Bro......  come on. You are giving yourself a free pass yet holding me to a higher standard.

You obviously believe you can say 'it's a scam. The end' then bathe in the glory of your intelligence as others fall to the mercy of your enormous brain.

I have been outlining how the system functions on a number of threads and answering loads of questions. It's always top level talk but i am more detailed than you.

I don't watch that news channel so i can't comment. I'm surprised to learn they discuss the details of the money supply and why the current QE is not causing inflation. Since this is what you are claiming they are doing, kudos to them for being the first media outlet to break away from the norm claiming it's mass inflation (which is all i see being reported via media).

You said --> The fiat dollar system has been losing purchasing power for the last 100 years.  We've been robbed.
**Yes currency has devalued as it normally does throughout all of history. Your wages also increased. Asset prices have also increased. Are you suggesting you have it worse today than people in 1920 because you are robbed?  How have you been robbed? What did they steal from you? Who stole it from you? What is the value of the theft from you personally to date?

You said -->  After the US was fully taken off the gold standard in 1971 it became much worse.
**They detached from gold because they didn't need the currency to be back anymore. They started printing currency at 15% which gave immediate inflation. As a result they looked for a way to hide inflation, which they did so by switching to a debt based system (a liability to be repaid). Instead of printing currency, they expanded via debt. So instead of 15% currency printing (immediate inflation) you get 5% currency printing (immediate) and 10% expansion from debt (delayed inflation) giving the same expansion of 15% but with a faction of the inflation.

You said --> It was all done in plain sight, right under peoples noses.
**Virtually no average person has any clue as to how the financial system works. Yet virtually everybody has an opinion of why it's broken...... 

You said --> They are debt/wage slaves and they have no idea why.       
**Please share which period in history where people did not work for wages and had it easy.
People always worked. People always struggle with one thing or another. People will always spend more than they should and then bitch about it when it goes pear shaped.

[pellius]

I alway hear that argument that the dollar steadily and consistently loses it's value over time. A $1000 today is not worth as much compared to $1,000 20 years ago. And I know that's true, but I can't help but think why are we not poorer? Why hasn't our standard of living gone down? I look at what the dollars today can buy compared to 20 years ago. OK, so my $1,000 isn't worth as much as my Dad's $1,000 but when I compare the, say, lap top I can buy with a grand compared to what kind of laptop I would get 20 years ago for a grand. It's night and day.

[Humble Narcissist]

I alway hear that argument that the dollar steadily and consistently loses it's value over time. A $1000 today is not worth as much compared to $1,000 20 years ago. And I know that's true, but I can't help but think why are we not poorer? Why hasn't our standard of living gone down? I look at what the dollars today can buy compared to 20 years ago. OK, so my $1,000 isn't worth as much as my Dad's $1,000 but when I compare the, say, lap top I can buy with a grand compared to what kind of laptop I would get 20 years ago for a grand. It's night and day.

Yes, we also make much more at our jobs today to make up for the dollar supposedly losing value.  How can it be determined that the dollar is losing value anyway?  The merchandise we purchase today is way different than it was decades ago.  A television set in the 1970's took up half the living room and probably cost a week or two of paychecks while today we but much better tv's for $200 bucks.

[obsidian]

The problem for people of your thinking is you immediately go to the extreme where the world is ending and that somehow we print a trillion dollars a week.

The poster having a go at me in the other thread, vomits up a claim that today we are in hyperinflation...... today.... LOL.... hyperinflation is defined as 50% inflation per month. Lets look at his claim by viewing New York where the ave fuel price in February was $2.54/gallon. His claim is 50% inflation per month therefore his claim is the price of fuel has been March $3.81, April $5.72, May $8.57, June $12.59, July $19.29, August $28.93.

The actual price of fuel in August is $2.18/gallon which is a 14% decline in the price pre covid. Deflation....... yet he is claiming we are all experiencing 50% inflation per month meanwhile in the real world shit is cheaper lol. That is a claim from someone having a go at me claiming i don't know anything.....

Demand for everything just died! As a result, the leverage is unwinding like a rocket and causing deflation. That isn't a 'scam' dude. We just shut the entire globe down due to a pandemic. WTF do you think would happen? The QE you are seeing being created right now is plugging the gap of the outflow, trying to keep us afloat, that's what you do.

Your fuel doesn't cost you $28/gallon. Your bread doesn't cost you $20/loaf.  But your house probably dropped 10%. What does that tell you?  Hopefully not hyperinflation lol.

I'm not a politician. I don't work for a bank. I am heavily involved in business intelligence and strategy.

I like debate but i'm not taking personal jabs at others so please don't do them to me.

Yes the cost of gas is refreshing. However other items like food and service is getting more expensive. My wife went to Burger King the other day and the bill was over $20 for two. Might as well go to a real restaurant the prices are close. Stuff at the grocery store is going up.

TV's are dirt cheap though - however it shows in the quality. They don't last very long these days before developing some defect.

[DooM_]

Yes the cost of gas is refreshing. However other items like food and service is getting more expensive. My wife went to Burger King the other day and the bill was over $20 for two. Might as well go to a real restaurant the prices are close. Stuff at the grocery store is going up.

TV's are dirt cheap though - however it shows in the quality. They don't last very long these days before developing some defect.

compare those old crt tv's to the modern lcd tv's , many are still working for 30/40 years in great condition , only the tube needs replacing , a modern tv and most appliances , how long are they going to last . . . ?

[obsidian]

I alway hear that argument that the dollar steadily and consistently loses it's value over time. A $1000 today is not worth as much compared to $1,000 20 years ago. And I know that's true, but I can't help but think why are we not poorer? Why hasn't our standard of living gone down? I look at what the dollars today can buy compared to 20 years ago. OK, so my $1,000 isn't worth as much as my Dad's $1,000 but when I compare the, say, lap top I can buy with a grand compared to what kind of laptop I would get 20 years ago for a grand. It's night and day.

You're getting paid more. My father in law was making $2 per hour and then $3 per hour back in the 60s and living the high life. He bought a brand new Corvette for what $4000? I'll have to ask him he told me the exact amount but I forgot. All I know is it was dirt cheap. Now minimum wage is a lot more than his high paying job that he had back then.

Eventually people with a skill set that earns them $100,000 per year in 2020 will be making $1 million. This has happened in other countries that have seen dramatic inflation. So if Bitcoin goes to $100,000 it would just keep pace with salary increases.

[obsidian]

compare those old crt tv's to the modern lcd tv's , many are still working for 30/40 years in great condition , only the tube needs replacing , a modern tv and most appliances , how long are they going to last . . . ?

I bought a 22" Acer LCD for my then computer in 2007 when they were the latest thing out. Since then I have upgraded to Samsung 40" 4K screens 3 years ago. And one has developed a screen defect. I have another 2K Samsung LED TV that also developed a defect. Defect can't be fixed. So either live with it or throw it out or sell it for next to nothing.

Meanwhile the 22" Acer LCD is still working perfectly. I have it connected to another computer in the house!

[Humble Narcissist]

compare those old crt tv's to the modern lcd tv's , many are still working for 30/40 years in great condition , only the tube needs replacing , a modern tv and most appliances , how long are they going to last . . . ?

I've had my Vizio television for years and it still works as good today as the day I bought it.  Same with my Acer Chromebook.  They are so inexpensive I could buy a new one every year and it still would not cost me much at all.

[a_pupil]

This crypto spike is missing Gib's larping.

Even 9 figure investors aren't safe from covid. Pip 

He warned us months ago.

[Mayday]

Yes the cost of gas is refreshing. However other items like food and service is getting more expensive. My wife went to Burger King the other day and the bill was over $20 for two. Might as well go to a real restaurant the prices are close. Stuff at the grocery store is going up.

TV's are dirt cheap though - however it shows in the quality. They don't last very long these days before developing some defect.

The CPI will show you overall consumer inflation currently at next to nothing (sub 1%). You can see the fluctuation for supermarkets and the decrease for energy short term but this is caused by environmental influence, don't mistake it for QE influenced. Eg look at 2009 and there was deflation despite huge QE. I touched on my strategy for consumer retail previously which outlines why you see some prices go up at a broad top level view.

Money drives innovation and improves quality of life. A tv used to take 6 months to save up for, was the size of a microwave and had shitty 360p resolution. A tv today can be purchased with 2 weeks saving, has a  billion more parts and resolution 10x better.  Go buy a tv for 30k and you can rave about the quality or buy a tv for $400 bucks and moan about how it isn't as good as a 30k tv. Pick your poison but compare apples for apples. Today's consumer goods are dirt cheap and everybody has access to them.

I'd still love to hear detail about this apparent 'robbing' going on. If someone is worse off today than 40yrs ago you made horrid life choices.

[FitnessFrenzy]

what would be the fair value of a bitcoin? And why?

[Mr Anabolic]

The CPI will show you overall consumer inflation currently at next to nothing (sub 1%). You can see the fluctuation for supermarkets and the decrease for energy short term but this is caused by environmental influence, don't mistake it for QE influenced. Eg look at 2009 and there was deflation despite huge QE. I touched on my strategy for consumer retail previously which outlines why you see some prices go up at a broad top level view.

Money drives innovation and improves quality of life. A tv used to take 6 months to save up for, was the size of a microwave and had shitty 360p resolution. A tv today can be purchased with 2 weeks saving, has a  billion more parts and resolution 10x better.  Go buy a tv for 30k and you can rave about the quality or buy a tv for $400 bucks and moan about how it isn't as good as a 30k tv. Pick your poison but compare apples for apples. Today's consumer goods are dirt cheap and everybody has access to them.

I'd still love to hear detail about this apparent 'robbing' going on. If someone is worse off today than 40yrs ago you made horrid life choices.

I love how Keynesians always cherry pick TVs and computers when trying to argue against inflation.  So typical.

Food, energy, tuition, cars, basic goods, necessities and services all sky high compared to 20 years ago.  Practically ZERO interest rates on cash in the bank.  Social security is not properly adjusted over time to match the true inflation rate. 

General Stores were once known as the "Nickel store"... then they became "Five and Dime" stores... now they are $1 stores... soon they'll be $10 Dollar stores... then $100 Dollar stores.

Yes, Mayday my lad... ppl are being ROBBED.

Are you s-u-r-e you don't work for CNBC or the government?  - lol

[pellius]

I love how Keynesians always cherry pick TVs and computers when trying to argue against inflation.  So typical.

Food, energy, tuition, cars, basic goods, necessities and services all sky high compared to 20 years ago.  Practically ZERO interest rates on cash in the bank.  Social security is not properly adjusted over time to match the true inflation rate. 

General Stores were once known as the "Nickel store"... then they became "Five and Dime" stores... now they are $1 stores... soon they'll be $10 Dollar stores... then $100 Dollar stores.

Yes, Mayday my lad... ppl are being ROBBED.

Are you s-u-r-e you don't work for CNBC or the government?  - lol

Do you believe that people are eating worse than they did 20 years ago? I remember growing up that eating out was a big deal. Our family went to the grand opening of McDonald's in our neighborhood and we got dressed up to go. Shoes and everything which is pretty formal for Hawaii. Packing your lunch was the rule rather than the exception. Nowadays people are eating out virtually everyday often several times a day.

Do you believe that people are more energy deprived than they were in previous generations? When I compare the homes today with their air condtioners and the vast array of appliances and electronics that has increased energy consumption exponentially. I don't know of any home owners that don't have more than one refrigerator and more TVs and computers than people who actually live in the home.

It was rare that any of my friends in high school had complete access to a car. Nowadays it seems like most teens of driving age have complete access to brand new cars. Rare are the ones that have to get "fixer uppers" if they ever want to drive.

As far as services: jeeze, food delivery alone as on a whole new level. Before it's was just pizza. Now you can have deliveries (even before Covid) from fine restaurants. The bus system is way better and more efficient now. Taxis, Uber, Lyft are huge and people used them everyday. Garbage pick-up is much more reliable and consistent. It seems that the majority of people now hire someone else to cut their grass. The availability of getting goods and services from the net is virtually unlimited and you get your stuff in days rather than weeks like how it was when I was a kid. Any service imaginable is now available and affordable to the vast majority.

I don't know how old you are but I am sixty years old and I can tell you from first hand experience that the quality of life has vastly improved, and continues to improve, since I was in my twenties and it's accessibility to all has also increased. Even people living off welfare and living in section 8 housing have cars, computers, cell phones (even for their kids) and are hardly starving since the majority of the under class very distinctly fat.

[Mr Anabolic]

Do you believe that people are eating worse than they did 20 years ago? I remember growing up that eating out was a big deal. Our family went to the grand opening of McDonald's in our neighborhood and we got dressed up to go. Shoes and everything which is pretty formal for Hawaii. Packing your lunch was the rule rather than the exception. Nowadays people are eating out virtually everyday often several times a day.

Do you believe that people are more energy deprived than they were in previous generations? When I compare the homes today with their air condtioners and the vast array of appliances and electronics that has increased energy consumption exponentially. I don't know of any home owners that don't have more than one refrigerator and more TVs and computers than people who actually live in the home.

It was rare that any of my friends in high school had complete access to a car. Nowadays it seems like most teens of driving age have complete access to brand new cars. Rare are the ones that have to get "fixer uppers" if they ever want to drive.

As far as services: jeeze, food delivery alone as on a whole new level. Before it's was just pizza. Now you can have deliveries (even before Covid) from fine restaurants. The bus system is way better and more efficient now. Taxis, Uber, Lyft are huge and people used them everyday. Garbage pick-up is much more reliable and consistent. It seems that the majority of people now hire someone else to cut their grass. The availability of getting goods and services from the net is virtually unlimited and you get your stuff in days rather than weeks like how it was when I was a kid. Any service imaginable is now available and affordable to the vast majority.

I don't know how old you are but I am sixty years old and I can tell you from first hand experience that the quality of life has vastly improved, and continues to improve, since I was in my twenties and it's accessibility to all has also increased. Even people living off welfare and living in section 8 housing have cars, computers, cell phones (even for their kids) and are hardly starving since the majority of the under class very distinctly fat.

I'm talking about real inflation here.  People are having to work multiple minimum wage jobs in order to survive.  Many seniors are having to get reverse mortgages to keep up.  People are living in their mommies basements because they cannot afford to live on their own. 

You're saying that accessibility and technocracy is improving people's lives while they are;
Living in section 8 housing, texting on their cellphones, watching 60" tv's, eating junk food, not working and collecting welfare.  Hey, but at least they're doing it all in an air conditioned room!   


 

[Mayday]

not properly adjusted over time to match the true inflation rate. 

Yes, Mayday my lad... ppl are being ROBBED.

Are you s-u-r-e you don't work for CNBC or the government?  - lol

Well you pretty much dismissed everything i said. I explained how to delay inflation. If a takeaway hamburger going from $2 to $6 in 20yrs impacts you more than a house going from 60k to 800k while your wage increased only 40%, well i guess hamburgers are more important to you than me.

I'm explaining how a currency system functions and hides things and you immediately complain that a nickel store is now a $1 store.....  I don't shop at dollar stores, maybe if you check your ego at the door you wouldn't have to either.

[Mr Anabolic]

Well you pretty much dismissed everything i said. I explained how to delay inflation. If a takeaway hamburger going from $2 to $6 in 20yrs impacts you more than a house going from 60k to 800k while your wage increased only 40%, well i guess hamburgers are more important to you than me.

I'm explaining how a currency system functions and hides things and you immediately complain that a nickel store is now a $1 store.....  I don't shop at dollar stores, maybe if you check your ego at the door you wouldn't have to either.

No, YOU are ignoring what I am saying... totally.

How many houses in the US have appreciated from $60K to $800K?   In a bubble cities in CA maybe, but that's it... totally unsustainable.  That's not an average.  The average American is getting slaughtered by inflation and wages have not kept up... you denying this?

I shop at dollar stores? - lol   Just once... I bought 5 gal buckets there to hold all my silver and ammo.

What a joke you are.  All semantics, no substance.

[Mayday]

No, YOU are ignoring what I am saying... totally.

How many houses in the US have appreciated from $60K to $800K?   In a bubble cities in CA maybe, but that's it... totally unsustainable.  That's not an average.  The average American is getting slaughtered by inflation and wages have not kept up... you denying this?

I shop at dollar stores? - lol   Just once... I bought 5 gal buckets there to hold all my silver and ammo.

What a joke you are.  All semantics, no substance.

So you claim inflation of bread is slaughtering average Americans and not property.

Fair enough. I am outaide the US and perhaps you are right and Americans are so overwhelmed with buying bread for 2 bucks a loaf that they are unable to make repahments on their.600k home.

For me, bread went from $2/loaf to $3.40. In the same period of time, the median house went from 0.28m to 1.1m.  I don't know anybody who complained about trying to find the additional $1.40 to buy bread as you claim you personally experienced but i know plenty who struggled to find the extra $820,000.00 to put a roof over their head.

So from your personal experience, you believe the GFC was actually a bread price crisis?   That low income households failed to make mortgage repayments because bread was expensive?

[Mr Anabolic]

So you claim inflation of bread is slaughtering average Americans and not property.

Fair enough. I am outaide the US and perhaps you are right and Americans are so overwhelmed with buying bread for 2 bucks a loaf that they are unable to make repahments on their.600k home.

For me, bread went from $2/loaf to $3.40. In the same period of time, the median house went from 0.28m to 1.1m.  I don't know anybody who complained about trying to find the additional $1.40 to buy bread as you claim you personally experienced but i know plenty who struggled to find the extra $820,000.00 to put a roof over their head.

So from your personal experience, you believe the GFC was actually a bread price crisis?   That low income households failed to make mortgage repayments because bread was expensive?

WTF are you talking about?   Some rebuttal - lol   Total waste of my time going back and forth with you. 

One more time... read it a few times if you need to: 

Food, energy, rent, tuition, cars, basic goods, necessities and services all sky high compared to 20 years ago.  Practically ZERO interest rates on cash in the bank.  Social security is not properly adjusted over time to match the true inflation rate. 

[FitnessFrenzy]

I love how Keynesians always cherry pick TVs and computers when trying to argue against inflation.  So typical.

Food, energy, tuition, cars, basic goods, necessities and services all sky high compared to 20 years ago.  Practically ZERO interest rates on cash in the bank.  Social security is not properly adjusted over time to match the true inflation rate. 

General Stores were once known as the "Nickel store"... then they became "Five and Dime" stores... now they are $1 stores... soon they'll be $10 Dollar stores... then $100 Dollar stores.

Yes, Mayday my lad... ppl are being ROBBED.

Are you s-u-r-e you don't work for CNBC or the government?  - lol

so you think we should have higher interest rates now?

[FitnessFrenzy]

Now, instead of relatively stable currencies based on the value of gold, we now have far more volatile currencies, especially in poorer countries. The value is now determined almost solely by supply and demand and speculative investing in the money market which is highly liquid, so this money can be dis-invested quickly causing huge swings in currency value and even crashes.

arguing for or against the gold standard is a complex issue, but I think, generally speaking, it would be better if the value of a dollar was fixed to a certain amount of gold. Then the central banks could not print money like crazy and we would have to solve financial crises in other ways, perhaps better ways.