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

[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.

[Mr Anabolic]

so you think we should have higher interest rates now?

Yes, slowly adjusted higher over a long period of time.  There would be some pain initially, but it would eventually pass.  They don't want to do that though.  These days the Fed comes to the rescue every time the market has a hiccup.  This only makes everything worse over the long term.  They never let natural market forces come into play.  They've been able to delay it for many years, but when the market eventually does break, it's going to be a huge. 

Fed Chairman Volker did the right thing in the late 70's by raising the interest rates.  By the early 80's things were getting better and the market did very well.  Then we had 1987 crash, the LTCM crisis hit, then the tech bubble.  Banksters simply cannot abide by the rules, they get greedy, then something bad happens.  Then once things are fucked up, they get bailouts.  Notice how they always privatize their gains and socialize their losses.  The moral hazard is much worse now than it's ever been before. 

The last 10 years of market gains have been fake... all caused by Fed pumping trillions and trillions into the system.  Quadrillions are next.  Look out below.

[Mayday]

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.

Just because you bought a bucket at the dollar shop and put some pieces of silver in it, doesn't make you suddenly an intellectual wrecking ball. The very act of you bragging about keeping your silver in a bucket backs me up on that.

The Consumer price inflation is the metric that measures those very things you are arguing are 'sky high'. That is generally an annual consumer inflation rate of 1%-2%. They get that from tracking hundreds of consumer market prices, the very things you continue to argue are sky high and causing people hardship.

Look, you have yourself massively confused and you are all backwards and inside out. Property has caused hardship done via the deb mechanism the monetary system uses. People do not start off struggling to afford food, services and all the nice extras. Case in point, look at millennials who are spending like sailors on fun and nice materials things.   People struggle to buy a property. They buy one anyone and as a result they then struggle to afford cars, consumer items, holidays etc.

The GFC was a credit crisis. They even called it the credit crisis. It was triggered off by surpassing the realistic debt ceiling that defaulted and caused an unwinding of debt resulting liquidity crisis as deflation set in. It wasn't call the 'bread is to expensive' crisis.

[Mayday]

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.

Sure, it could be used somewhat of a deterrent to print currency but given central banks do not allow independent audits of their physical holdings, i'm not so convinced they would be squeaky clean.

Regulatory bodies for banks and funds need to play a bigger part for debt and liquidity. Preventing spastic from going full spastic will do a lot.

[Mr Anabolic]

Just because you bought a bucket at the dollar shop and put some pieces of silver in it, doesn't make you suddenly an intellectual wrecking ball. The very act of you bragging about keeping your silver in a bucket backs me up on that.

The Consumer price inflation is the metric that measures those very things you are arguing are 'sky high'. That is generally an annual consumer inflation rate of 1%-2%. They get that from tracking hundreds of consumer market prices, the very things you continue to argue are sky high and causing people hardship.

Look, you have yourself massively confused and you are all backwards and inside out. Property has caused hardship done via the deb mechanism the monetary system uses. People do not start off struggling to afford food, services and all the nice extras. Case in point, look at millennials who are spending like sailors on fun and nice materials things.   People struggle to buy a property. They buy one anyone and as a result they then struggle to afford cars, consumer items, holidays etc.

The GFC was a credit crisis. They even called it the credit crisis. It was triggered off by surpassing the realistic debt ceiling that defaulted and caused an unwinding of debt resulting liquidity crisis as deflation set in. It wasn't call the 'bread is to expensive' crisis.

Nice try, but you still haven't addressed the root causes.  You're merely parroting the MSM or articles you read in the Economist... all claptrap. 

This is nonsense they teach ppl who take "economics" in college.  The ivory tower doesn't teach Austrian economics, only Keynesian.  When they come out of school, they are totally brainwashed and are primed for jobs in government, politics or CNBC - lol

Read it again...
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.

By the way... the silver is overflowing those buckets.. . I'll guess I'll have to go back to the dollar store and get more.  You forgot to mention all my ammo     

[Mayday]

Nice try, but you still haven't addressed the root causes.  You're merely parroting the MSM or articles you read in the Economist... all claptrap. 

This is nonsense they teach ppl who take "economics" in college.  The ivory tower doesn't teach Austrian economics, only Keynesian.  When they come out of school, they are totally brainwashed and are primed for jobs in government, politics or CNBC - lol

Read it again...
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.

By the way... the silver is overflowing those buckets.. . I'll guess I'll have to go back to the dollar store and get more.  You forgot to mention all my ammo   

Ok no prob if that's how you want to see it.

I was in the silver play duing 2011. Back when it hit $47 and then crashed (i got in at 15, out at 41). Nearly a decade later it's $25..... gold hit 1900 in 2011 and today almost a decade later it's 1900......   the very thing that is used to hedge against currency deflation (and CPI) is valued the same today as in 2011. .... the US just printed trillions.... ... yet gold isn't worth more than in 2011.

Ammo is probably wise in the US right now.

[Mr Anabolic]

Ok no prob if that's how you want to see it.

I was in the silver play duing 2011. Back when it hit $47 and then crashed (i got in at 15, out at 41). Nearly a decade later it's $25..... gold hit 1900 in 2011 and today almost a decade later it's 1900......   the very thing that is used to hedge against currency deflation (and CPI) is valued the same today as in 2011. .... the US just printed trillions.... ... yet gold isn't worth more than in 2011.

Ammo is probably wise in the US right now.

Patience my son.

Now take the stock market gains over the past 120 years and adjust them for inflation. 

Now do the same for gold.

Gold wins. 

Yeah, I have gold too.  I routinely dump it all on my bed and roll in it.  Just like Scrooge Mc Duck.

It's epic!

[obsidian]

Bitcoin is now over $12,800 and Ethereum over $400.

Anabolic where are you?!

[Mr Anabolic]

Bitcoin is now over $12,800 and Ethereum over $400.

Anabolic where are you?!

Right on cue.  I was waiting for some bliptard bozo to reactive this thread.

Bliptards get all excited on the pump, but then disappear after the dump.

Silver has doubled since you last posted... where were you? 

[obsidian]

Right on cue.  I was waiting for some bliptard bozo to reactive this thread.

Silver has doubled since you last posted... where were you?

WOW that was fast lol!

I have silver coins.

The price of Silver was over $18 per ounce at the beginning of 2020. Now it is 24.50
24.50 / 18.20 = 1.34

Bitcoin was around $7,200 and now it is at over $12,900.  12900 / 7200 = 1.79

Ethereum was around $129 and now it is at over $413. 413 / 129 = 3.20!

Ethereum is up 320 % for the year and Silver is up 134%!

LMAO!

[Mr Anabolic]

WOW that was fast lol!

I have silver coins.

The price of Silver was over $18 per ounce at the beginning of 2020. Now it is 24.50
24.50 / 18.20 = 1.34

Depends where you bought. 

I bought that huge dip in March when it hit $12.  I took $100K of trading profits (from shorting the CONvid scare) and turned it into 90% pre-65 coins.  I got them before they raised the premiums too.

Again... where were you?

You're small potatoes taking a huge victory lap.

LMAO!

[obsidian]

Depends where you bought. 

I bought that huge dip in March when it hit $12.  I took $100K of trading profits (from shorting the CONvid scare) and turned it into 90% pre-65 coins.  I got them before they raised the premiums too.

Again... where were you?

You're small potatoes taking a huge victory lap.

LMAO!

I bought silver back in 2008 when it was $15 per ounce. So in 2020 it dipped to $12 and now it is at $24.50. Big whoop that sounds like a mediocre investment which it is.

You're not making a good case here LMAO!

[Mr Anabolic]

I bought silver back in 2008 when it was $15 per ounce. So in 2020 it dipped to $12 and now it is at $24.50. Big whoop that sounds like a mediocre investment which it is.

You're not making a good case here LMAO!

Mediocre investment?... that $100K is now $200K.  I hope it goes down again so I can buy more on the cheap.

Like I predicted many many pages ago in this thread "Fedcoin" is coming.  When it does, all cryptos including blipcoins will be most likely be deemed illegal, so you better cash out now while you still can.

Lastly, I don't have to "make a case"... like I said, you're small potatoes. 

[obsidian]

Mediocre investment?... that $100K is now $200K.  I hope it goes down again so I can buy more on the cheap.

Like I predicted many many pages ago in this thread "Fedcoin" is coming.  When it does, all cryptos including blipcoins will be most likely be deemed illegal, so you better cash out now while you still can.

Lastly, I don't have to "make a case"... like I said, you're small potatoes.

You could have made more profits with Ethereum. It's up over 300% this year.

Regarding gold and silver:

https://www.huffpost.com/entry/when-owning-gold-was-ille_b_10708196?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuYmluZy5jb20v&guce_referrer_sig=AQAAAEYpSg0u2Pd0SpsuDUxSVgFcIg7U4cBNL6OVKLg7eKQhch0Uk9gl9lv5RqbUSJKV-ksndxTWonB8az7rsYFN_v07WlJ2pjNwoBbjFLu1JlTLK9l0t-txcYRenjxkLScRpJ_5XxNe-r3XuSRJ9UEanyZro9mUDKUkfH2RQsvxnEcj

FDR Outlaws Gold

One of FDR’s first acts as president, therefore, was to declare the fact that Americans were withdrawing their gold and currency from the beleaguered banking system “a national emergency.” He ordered all banks to close from March 6-9 “in order to prevent the export, hoarding, or earmarking of gold or silver coin or bullion or currency.” 

Because he believed this action was not sufficient to prevent runs on banks and the resulting drain of gold from the system, on April 5, 1933, one month after taking office, Roosevelt used the powers granted to the president by the Trading with the Enemy Act of 1917 to make gold ownership illegal. He issued Executive Order 6102, which made gold ownership—both in coins and in bars—illegal for all Americans and punishable by up to ten years in prison. Anyone caught with gold would also have to pay a fine of twice the amount of gold that was not turned over to the Federal Reserve in exchange for paper money.

[Methyl m1ke]

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.

Moving away from the gold standard produced the luxurious country as you enjoy it today. Well that and fractional lending.

[FitnessFrenzy]

I wonder who now owns the bitcoins Goodrum had.

[Mayday]

Like I predicted many many pages ago in this thread "Fedcoin" is coming.  When it does, all cryptos including blipcoins will be most likely be deemed illegal, so you better cash out now while you still can.

First the Buzz Aldrin clip you posted and now this doozy, today is just not your day lol.

The Fed digital dollar is no different to the US dollars you have in your bank account today. What they are trying to do is come up with a process where they can create currency immediately and deposit directly into people's bank accounts vs today whrre they purchase bonds to inject the currency.

The 'digital dollar' is not a crypto nor does it compete with cryptos. It is exactly the same as you have in your bank account today.