Reminds me of something you may have a good opinion on as you often do. Nigel Farage is always on about distressed economies like Greece seceding from the EU, which I certainly agree with, but the reason he posits is so they can print money or 'devalue' as he says. I agree that is better than staying in the EU and getting raped by the banksters, but only slightly. But only because they won't be able to blame that as easily on anyone else, but it won't actually solve their problem, it will make it worse.
Printing, and paying in devalued drachma, or whatever, (they would have to force conversion of the debt instruments but they can do that) would lower their real debt but it will hurt the people and the economy along with the creditors.
I don't understand why he doesn't recommend 'secede and default', which would be the least damaging, on net, and would allow a recovery to happen quickly. The only ones who take a haircut then are those that should, the lenders, who voluntarily risked their money.
I have been pondering this question at the back of my head since well before you asked it here. I think that the way you asked it may have crystallized an answer
( ... )
Lol! Right it's like writing myself an IOU for a billion dollars and then telling a loan officer that I have a net worth of a billion dollars. But then of course I wouldn't be so stingy with myself as to only owe a billion:)
Of course the government isn't even that logical, they say they owe themselves the money but it really means we owe them money.
Well, if you or I chose to borrow money to give away to the people who hated **us** and those who were illegally sneaking into our property as squatters, **we** would be choosing to be broke...
Not that I'm opposed to immigration, I'm opposed to politicians not being satisfied with domestic welfare voting ranches and trying to import more livestock.
My solution to immigration is grant them all work visas and put them at the end of the longest immigration queue. If they avail themselves somehow of any public assistance program they are re-put at the end of the line. I don't mind more working folk. I mind more welfare voters.
Of course we also need to end the licensing and regulation that creates the corporate monopolies so there are more employers. Basically end almost all federal agencies so that monopolies can only exist within state borders. Repeal the Sherman act. Repeal copyright law and close the patent office. (that last might take an amendment tho)
"Surprise, paper gold (traded on exchanges and the asset in question) is a commonly held item by forex traders, either long or short. It's a very small market relative to the actual physical market and frequently traded on maximum margins
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Bitcoin is a different kettle of fish. It's useful as currency but not as a store of value much like fiat currency but you can't predict when it will be hacked. You at least know when a central bank prints.
Every central bank hates gold, but they can only do so much about it, like this dip, but bitcoin has inherent vulnerabilities, and the banks are highly motivated to make it appear to be unsafe, and they have a lot of resources.
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Reminds me of something you may have a good opinion on as you often do. Nigel Farage is always on about distressed economies like Greece seceding from the EU, which I certainly agree with, but the reason he posits is so they can print money or 'devalue' as he says. I agree that is better than staying in the EU and getting raped by the banksters, but only slightly. But only because they won't be able to blame that as easily on anyone else, but it won't actually solve their problem, it will make it worse.
Printing, and paying in devalued drachma, or whatever, (they would have to force conversion of the debt instruments but they can do that) would lower their real debt but it will hurt the people and the economy along with the creditors.
I don't understand why he doesn't recommend 'secede and default', which would be the least damaging, on net, and would allow a recovery to happen quickly. The only ones who take a haircut then are those that should, the lenders, who voluntarily risked their money.
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Sorry. Even I couldn't type that with a straight face.
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Of course the government isn't even that logical, they say they owe themselves the money but it really means we owe them money.
Reply
Reply
Not that I'm opposed to immigration, I'm opposed to politicians not being satisfied with domestic welfare voting ranches and trying to import more livestock.
My solution to immigration is grant them all work visas and put them at the end of the longest immigration queue. If they avail themselves somehow of any public assistance program they are re-put at the end of the line. I don't mind more working folk. I mind more welfare voters.
Of course we also need to end the licensing and regulation that creates the corporate monopolies so there are more employers. Basically end almost all federal agencies so that monopolies can only exist within state borders. Repeal the Sherman act. Repeal copyright law and close the patent office. (that last might take an amendment tho)
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"Surprise, paper gold (traded on exchanges and the asset in question) is a commonly held item by forex traders, either long or short. It's a very small market relative to the actual physical market and frequently traded on maximum margins ( ... )
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Every central bank hates gold, but they can only do so much about it, like this dip, but bitcoin has inherent vulnerabilities, and the banks are highly motivated to make it appear to be unsafe, and they have a lot of resources.
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