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

[Mayday]

I'd get rid of it as long as you can

Why? Monetising has started.

The rough average for a year is 4%-5% monetisation. During the GFC it hit 13% which is what they were doing in the 1980s. 

We are halfway through 2020 and my country is at 8%. We are on track for double digits monetising annually and i expect it to be ongoing like during the 1980s.

A longer timeline means more chance of something happening. So i say 10yrs.

[Theoak*]

Why? Monetising has started.

The rough average for a year is 4%-5% monetisation. During the GFC it hit 13% which is what they were doing in the 1980s. 

We are halfway through 2020 and my country is at 8%. We are on track for double digits monetising annually and i expect it to be ongoing like during the 1980s.

A longer timeline means more chance of something happening. So i say 10yrs.

The fiat funny farm is tearing itself apart, it's so large, has so much inertia and is taking years to play out that it is almost impossible for any one individual to describe the total collapse in detail.

As an analogy, imagine if something the size of the moon crashed into the earth in ancient times and all the individual reports described their local experience but nobody had satellites or aircraft to get higher level views of the totality of the impact.  There would be reports of massive waves, floods, clouds of dust reaching to the sky, fireballs streaking across hellscapes, earthquakes and ground runctions that threw people hundreds of meters, mountain ranges either appearing or disappearing on the horizon.  The reports would read like an alternate reality to someone living in 'normal' times.  This is what it is going to be like for a collapse of the global fiat reserve monetary system, generally craziness on a grand scale in all economic and financial affairs.

[Mayday]

But you are assuming it collapses.

I am assuming history will repeat and they will monetise the debt. If you track the money supply like i do, you will see they are in fact starting the monetisation process. The ECB made it clear they are willing to 'print' unlimited amounts of money to bail everyone out. The US Fed has also said they are monetising.

Of course i agree a total bloodbath is coming but it isn't the end.

[Theoak*]

But you are assuming it collapses.

I am assuming history will repeat and they will monetise the debt. If you track the money supply like i do, you will see they are in fact starting the monetisation process. The ECB made it clear they are willing to 'print' unlimited amounts of money to bail everyone out. The US Fed has also said they are monetising.

Of course i agree a total bloodbath is coming but it isn't the end.

Not trying to be a debbie downer but it looks like the virus (pandemic) might still have a long way to run, and that is the biggest thing hanging over the whole bailout, stimulus, fiat long-con ... if the pandemic outlasts funny money games all hell breaks loose and we get total collapse. (I was factoring a partial collapse with outside chance of total collapse.) The markets know this, the Central Banks know this, gubmints know this.

[Mayday]

Not trying to be a debbie downer but it looks like the virus (pandemic) might still have a long way to run, and that is the biggest thing hanging over the whole bailout, stimulus, fiat long-con ... if the pandemic outlasts funny money games all hell breaks loose and we get total collapse. (I was factoring a partial collapse with outside chance of total collapse.) The markets know this, the Central Banks know this, gubmints know this.

The dow was 29k pre covid. 4 months on, stacks of unemployed, business closed, loan defaults inbound and it sits at... 26k.   Trillions in QE did that.

Giving people $600/wk unemployment benefits for months so people can buy food and make payments. Trillions in QE did that aswell.

Deferred loan repayments. Deferred Mtg repayments. Cash handout stimulus. QE is how you avoid a depression.

Nothing strange about QE and it is an unlimited system. Meanwhile our debt system has maxed out at 40yrs and is a finite system. It's ironic for people to claim QE is going to collapse us. It's the debt system that collapsed us and QE will bail us out.

[Mr Anabolic]

The dow was 29k pre covid. 4 months on, stacks of unemployed, business closed, loan defaults inbound and it sits at... 26k.   Trillions in QE did that.

Giving people $600/wk unemployment benefits for months so people can buy food and make payments. Trillions in QE did that aswell.

Deferred loan repayments. Deferred Mtg repayments. Cash handout stimulus. QE is how you avoid a depression.

Nothing strange about QE and it is an unlimited system. Meanwhile our debt system has maxed out at 40yrs and is a finite system. It's ironic for people to claim QE is going to collapse us. It's the debt system that collapsed us and QE will bail us out.

So.... trillions, then quadrillions, then quintillions, then sextillions, etc. etc.

A loaf of bread will cost you $100,000,000.

A country cannot print it's way to prosperity.  That's been tried before.

Get a clue.

[Mayday]

So.... trillions, then quadrillions, then quintillions, then sextillions, etc. etc.

A loaf of bread will cost you $100,000,000.

A country cannot print it's way to prosperity.  That's been tried before.

Get a clue.

I just explained what actions were taken recently to prevent market collapse. QE is being used to prevent the money supply from shrinking as the leverage started to unwind. That isn't made up, they actually did that.

Why do you equate the recent actions of the Fed with prosperity? You said that, not me.  Very weird comment given nobody on here has even mentioned that. Only you. Why do you understand currency devaluation to mean prosperity? 

[Mr Anabolic]

I just explained what actions were taken recently to prevent market collapse. QE is being used to prevent the money supply from shrinking as the leverage started to unwind. That isn't made up, they actually did that.
Why do you equate the recent actions of the Fed with prosperity? You
 said that, not me.  Very weird comment given nobody on here has even mentioned that. Only you. Why do you understand currency devaluation to mean prosperity?

You better re-read what I wrote - lol

Again... get a clue

[Griffith]

I know banks are not 100 % safe either but storing large amounts of cash in unregulated 'online wallets' 

[Mr Anabolic]

I know banks are not 100 % safe either but storing large amounts of cash in unregulated 'online wallets' 

Useless really.  These myopic bliptards will never hear you.  After all, blips are going to $100,000 then $250,000, then $1,000,000!  Don'tcha know that?!?!   

[Mayday]

You better re-read what I wrote - lol

Again... get a clue

Ummm you quoted me to argue what i said. Myself nor anyone else in this thread has associated currency devaluation with prosperity. Well, accept for you.

Start at page 1 and read through the thread so you can better understand the topic being discussed.

[Mr Anabolic]

Ummm you quoted me to argue what i said. Myself nor anyone else in this thread has associated currency devaluation with prosperity. Well, accept for you.

Huh?  You're basically kissing the fed's ass for saving the economy/stock market and implying their funny money printing machine is good thing. 

BTW, they didn't save shit, they're just kicking a can while the USD becomes more and more devalued.  Giving a heroin addict more heroin might make him feel better initially, but at some point the addict ODs.

Inflation now and hyperinflation soon.  This is why gold and silver are taking off... just like I predicted a few years ago (in this thread).

[Mr Anabolic]

The dow was 29k pre covid. 4 months on, stacks of unemployed, business closed, loan defaults inbound and it sits at... 26k.   Trillions in QE did that.

Giving people $600/wk unemployment benefits for months so people can buy food and make payments. Trillions in QE did that aswell.

Deferred loan repayments. Deferred Mtg repayments. Cash handout stimulus. QE is how you avoid a depression.

Nothing strange about QE and it is an unlimited system. Meanwhile our debt system has maxed out at 40yrs and is a finite system. It's ironic for people to claim QE is going to collapse us. It's the debt system that collapsed us and QE will bail us out.

This is what I was referring too... these statements.

[Mayday]

This is what I was referring too... these statements.

The depression was caused because the money supply shrank. It is well documented they fucked up and started QE years too late causing a depression rather than a recession.

We run a system based on leverage. As explained when it starts to unwind the money vanishes and this is what causes liquidity issues (GFC).

You either
A) allow the unwind to collapse everything today. Why would anybody want that?
B) QE and cause inflation whilst monetising debt.

During the GFC they did QE. It bought us 12 more years. Today they are doing QE and it prevented the market from falling out. Same as the GFC. The monetary system was collapsing due to the debt mechanism we use, QE gave it more live, hence it's ironic that people.blame QE for collapsing us when in fact it prevented the collapse. That isn't to say all debt was resolved, it wasn't and we continued using debt.

Go to my posts before this and i explain it. You have jumped in at the end of conversation and missed the context.

QE systems are infinite and Debt is finite as once borrowing capacity maxes out it stops.  If all your pay goes on loans, you can't borrow more. We maxed out the debt system in 40yrs and have hit the ceiling. Previous empires lasted a thousand years using the currency devaluation and even then it was how those empires were run that collapsed them, not the currency policy.

Does that help you understand a bit better now?

[Teutonic Knight 1]

Hey, G.Vince what's happened with 'gib' , died of Corona or ........................ ...

[Mr Anabolic]

The depression was caused because the money supply shrank. It is well documented they fucked up and started QE years too late causing a depression rather than a recession.

We run a system based on leverage. As explained when it starts to unwind the money vanishes and this is what causes liquidity issues (GFC).

You either
A) allow the unwind to collapse everything today. Why would anybody want that?
B) QE and cause inflation whilst monetising debt.

During the GFC they did QE. It bought us 12 more years. Today they are doing QE and it prevented the market from falling out. Same as the GFC. The monetary system was collapsing due to the debt mechanism we use, QE gave it more live, hence it's ironic that people.blame QE for collapsing us when in fact it prevented the collapse. That isn't to say all debt was resolved, it wasn't and we continued using debt.

Go to my posts before this and i explain it. You have jumped in at the end of conversation and missed the context.

QE systems are infinite and Debt is finite as once borrowing capacity maxes out it stops.  If all your pay goes on loans, you can't borrow more. We maxed out the debt system in 40yrs and have hit the ceiling. Previous empires lasted a thousand years using the currency devaluation and even then it was how those empires were run that collapsed them, not the currency policy.

Does that help you understand a bit better now?

Just a lot of convoluted BS to justify more debt and fake funny money.

You should go work for the federal reserve... they love Keynesians like you.

[Mr Anabolic]

Hey, G.Vince what's happened with 'gib' , died of Corona or ........................ ...

He's busy drafting "Mr A" rebuttal posts.   

Will go something like this:

BLIPS TO $100,000... then $250,000.... then $1,000,000!!!!

 

[obsidian]

He's busy drafting "Mr A" rebuttal posts.   

Will go something like this:

BLIPS TO $100,000... then $250,000.... then $1,000,000!!!!

 

People want to get paid in Bitcoin Catabolic!

https://www.marketwatch.com/story/square-stock-surges-after-ballooning-bitcoin-interest-drives-huge-revenue-beat-2020-08-04

[Mr Anabolic]

People want to get paid in Bitcoin Catabolic!

https://www.marketwatch.com/story/square-stock-surges-after-ballooning-bitcoin-interest-drives-huge-revenue-beat-2020-08-04

BLIPS TO 1,000,000,000,000,000 !!!!!!!!!!!!!!

Lions and tigers and bears OH MY!

[Griffith]

Just a lot of convoluted BS to justify more debt and fake funny money.

You should go work for the federal reserve... they love Keynesians like you.

I personally disagree with the Keynesian theory.

Studies and econometric analysis have shown that a stable currency with low inflation is extremely important for financial stability and economic growth. This creates a lot more price certainty, especially for businesses which need to pay in advance for future orders and of course also gives more value to the money as it's worth will stay constant for much longer.

An aspect of Keynesian theory is that inflation keeps increasing but wages never match inflation. The wages go up to try and match inflation, and then inflation goes up again and incomes are constantly chasing inflation. And incomes will never catch up.

Of course, some inflation is inevitable over time but it should ideally be slow and gradual. With Keynesians, it doesn't matter, inflation is even encouraged, the idea is that money in the bank, because of their inflationary policies, will rapidly lose value and thus force people to spend or invest in property.

[Mayday]

Just a lot of convoluted BS to justify more debt and fake funny money.

You should go work for the federal reserve... they love Keynesians like you.

That's actually how it works so i'm not sure what to tell you *shrug*.

I can appreciate it might be daunting to get your head around it but if i can explain it and also hold up under scrutiny, maybe you want to take a moment to read my posts over to better understand the system?

[Teutonic Knight 1]

How is Bank of Portland performing in the last 111 days !.

[Mr Anabolic]

That's actually how it works so i'm not sure what to tell you *shrug*.

I can appreciate it might be daunting to get your head around it but if i can explain it and also hold up under scrutiny, maybe you want to take a moment to read my posts over to better understand the system?

The "system" is a fucking scam... that's all anyone needs to understand.

Seriously, you should've been a politician or bankster.  You'd be perfect.     

[Mayday]

The "system" is a fucking scam... that's all anyone needs to understand.

Seriously, you should've been a politician or bankster.  You'd be perfect.   

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.

[Irongrip400]

The "system" is a fucking scam... that's all anyone needs to understand.

Seriously, you should've been a politician or bankster.  You'd be perfect.   

He’s not defending the system more than he’s just telling the “why” it is the way it is.