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  1. #31

    Sep 2012
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    Quote Originally Posted by alan m View Post
    The failure of those FIAT currencies must have something to do with the demise of those kingdoms since they are intimately linked.
    To call out a failed currency without looking at the political, social and economic factors which existed prior to that failure, is a naive way of looking at things.
    Of course they are linked.
    The only naive way of looking at the situation though is the one that presumes that current world powers and their currencies will last forever. There is no such thing as forever.

    Obviously, a currency cannot survive if a world power fails. There are a few modern examples of currency failures for top-twenty-percent economies though (Russia/8th, Mexico/15th, Argentina/31st, Peru/48th, Greece/50th). Massive government spending (ie: finance wars, public projects, stifling debt, etc) is always a precursor to currency failure.

    I do not predict that I nor even my grandchildren will be alive to see the usd fail. But, call me naive if you must, it will happen.

  2. #32
    Charter Member
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    What is "fail" - As in 100% insolvent, completely losing value ?

    Tough to see that happening and futile to try to predict, obviously this country is currently as fractured and divided as it has ever been in history, if that trend continues and/or worsens, and every indication points that it will, it can only weaken our economy, embolden our enemies [primarily the one that starts with a C], and give extra impetus to the use of electronic/alternate currencies which cannot help but weaken the USD.

  3. #33
    Charter Member
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    ARC

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    Quote Originally Posted by Owassokie View Post
    I agree that theft is an issue but I disagree with your assessment. You state "theft is rampant and on the rise" which may technically be true but it doesn't really account for the explosion of opportunity for digital theft and poor decisions being made by us "Olds" that don't put the appropriate controls in place. But this is also an issue that will become LESS problematic over time...not more. Ironically, AI and the advances in technology (blockchain) will make electronic theft more difficult and less of an issue. Again....this all really comes down to trust. I'm betting people will reach a point where they trust crypto currency more than cash. Honestly, I don't think it's even a real race...just a matter of time. People already trust in electronic exchange of money...few actually use cash. They just don't understand crypto currency.
    Then we will have to agree to disagree... ...FOR... I disagree with your assessment :P
    Because... IMO... crypto currency is a joke.... I mean you have got to be joking... like I have stated before... (not in this thread) ... monopoly money has more value.
    Not enough backing it... no guarantee... and definitely no wide spread belief... which is what it takes to be really "tangible".
    Oh... and PS...
    Don't fool yourself with a false sense of security... IF you are online... you are never secure.
    Ever.
    No matter what technology exists... it is all only just temporary.
    Sooon as its built... they will find a way through and into it... or manipulate it.
    This will always be an ongoing battle.
    Remember... The rule of thumb in life is... its much harder to build than it is to un-build.
    Last edited by AARC; Feb 03, 2021 at 03:38 AM.
    alan m and Owassokie like this.
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  4. #34
    Charter Member
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    ARC

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    Quote Originally Posted by Xraywolf View Post
    What is "fail" - As in 100% insolvent, completely losing value ?

    Tough to see that happening and futile to try to predict, obviously this country is currently as fractured and divided as it has ever been in history, if that trend continues and/or worsens, and every indication points that it will, it can only weaken our economy, embolden our enemies [primarily the one that starts with a C], and give extra impetus to the use of electronic/alternate currencies which cannot help but weaken the USD.
    X... China needs us as much as we need them... They have no reason to ever do anything but business with us.

    Our money built them... and... our money keeps them going.

    They aren't stupid man... they know enough not to bite that hand that feeds them.
    alan m likes this.
    DETECT WITH RESPECT - Have permission... Fill holes... Dispose of trash. - The Random Chat Thread -http://www.treasurenet.com/forums/ev...en-24-7-a.html

  5. #35
    Charter Member
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    Quote Originally Posted by AARC View Post
    X... China needs us as much as we need them... They have no reason to ever do anything but business with us.

    Our money built them... and... our money keeps them going.

    They aren't stupid man... they know enough not to bite that hand that feeds them.
    We are going off into territory not suited for this section of the forum, to continue advise the politics subforum, if able.
    AARC and fistfulladirt like this.

  6. #36
    mts
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    Quote Originally Posted by Swaveab View Post
    There is a saying that doing the same thing over and over again and expecting a different result is the definition of insanity. To expect the dollar to be divine and rock solid in spite of all previous currencies resulting in failure is at best wishful thinking.
    I have never liked that saying because it is so easily proven wrong. I could drive without a seatbelt over and over again without ever crashing and that saying implies that to believe that some day I could drive without a seat belt and get killed in a car accident would be the definition of insanity. Yet we all know that it is NOT insane to believe that I could some day get killed in a car accident.

    And where did I call the US dollar divine and rock solid? I'm simply saying that to say that it is a forgone conclusion that current fiat currencies have to fail because some past currencies have failed isn't logical.

  7. #37
    mts
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    Quote Originally Posted by LooseChange View Post
    It is not a nonsense point. Nor is it intended to be argumentative. Sorry that you've taken it that way.

    The usd dollar will fail. The British pound will fail. The Peso will fail (again). The Yen will fail. The Euro will fail. All in-use fiats will fail - just like all previous ones have.

    I agree that all attempts of commodity backed money (such as gold or silver backed) have failed. That is an insightful point. I didn't intend to belittle it by omission as there is no contradiction.
    It simply isn't logical to say that all currencies will fail because some currencies have failed in the past. And so, I don't know what else to say to you. Your beliefs are wishful thinking. They may indeed come true, but it won't be because they are logical.

  8. #38

    Dec 2012
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    “Rome will exist as long as the Coliseum does; when the Coliseum falls, so will Rome; when Rome falls, so will the world.”

    -Venerable Bebe


    They believed the aureus would always have value too.................And it was made of gold.
    LooseChange likes this.

  9. #39

    May 2006
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    "Looks like silver is finally going to have it's time to shine.
    $30.00, 50.00, 75.00 maybe $100.00
    At what price do you sell and what do you sell?"

    Sorry, but not going to happen. IMHO. The boys might be big enough to take on a stock or three, but not a PM market. They are out of their league.

    I sold some, not all, but about 3,000 ounces, yesterday. Got $38 per Eagle and $24X face for 90%. I think the spot will tread water, as it has done, but the premiums will go back down, and that means I'll buy back within 3 months for about $31.50 per Eagle and maybe 17X face on the 90s. $100? Nope. $50? Not even that. Just not going to happen from this push. Is it coming? I believe. but if I can sell out on a weird situation like this, and buy back in when it settles lower? Allows me to stack more than I had before. :-)
    Kantuckkeean, WG2020 and mts like this.

  10. #40
    us
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    Folks be careful...definitely don’t risk more buying silver than you can afford to lose...the market is being manipulated...I read an above post saying they saw silver being offered at a $100 an ounce on Craigs list..spot is little over $27...yes, I know you can’t find anyone to sell you physical silver at spot but the spot price shows you what the market makers are buying and selling it for, and yes, it is still being moved....as an example of manipulation....Game Stop hit an intraday high of $483 last week and closed at $90 today...with a drop to $85 in the aftermarket...it can run up fast and drop just as fast...good luck with your hunts and trades. Walt
    Last edited by WG2020; Feb 02, 2021 at 10:52 PM.
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  11. #41

    May 2006
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    "the problem may be being able to sell your physical silver for anywhere near spot."

    With spot moved up to about $28.50, I was able to get $38 per Eagle and 24X face on 90%. 90% almost NEVER trades at a premium to spot, and that is a HUGE one.
    So selling physical was a BREEZE yesterday. Lots of buyers, all paying more than the spot said to pay for those coins. Even now, with spot going back down, premiums are higher than normal by a LOT. Shoot - $10 per coin premium on Eagles? That's nuts! I hope some others took it as well. Strike while the rumors re flying and the premiums are too high. :-)

  12. #42

    May 2006
    CO, AZ
    dfx, Ryedale!
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    "if a group of retail investors want to band together and very artificially (and very temporarily) run up the price of silver, I will happily take advantage. I won't totally get away from PMs, or likely even silver, forever. I will either buy the silver back at a cheaper price when the squeeze is over "

    BINGO!!!!!!!! :-)

    The words "very temporarily" are the key to say SELL now. And buy back "soon", whatever that means.

  13. #43
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    Price goes down and there’s no supply.

  14. #44

    Jun 2012
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    Quote Originally Posted by AARC View Post
    Then we will have to agree to disagree... ...FOR... I disagree with your assessment :P
    Because... IMO... crypto currency is a joke.... I mean you have got to be joking... like I have stated before... (not in this thread) ... monopoly money has more value.
    Not enough backing it... no guarantee... and definitely no wide spread belief... which is what it takes to be really "tangible".
    Oh... and PS...
    Don't fool yourself with a false sense of security... IF you are online... you are never secure.
    Ever.
    No matter what technology exists... it is all only just temporary.
    Sooon as its built... they will find a way through and into it... or manipulate it.
    This will always be an ongoing battle.
    Remember... The rule of thumb in life is... its much harder to build than it is to un-build.
    I get it. I'm not comfortable with the idea of a crypto currency in general. I'm not a techy. More importantly, it's not like I've loaded up on the stuff either. I'm not sure it will look the same or where the value will exist within the blockchain/cryto world. We can agree to disagree but I'm going to take one more crack at convincing you . The issues you raise about crypto (along with other concerns) already exist with paper money. How much of it exist? Can it be fake? Can it be stolen? Is the paper actually worth anything? If the government creates too much of it, will it lose value? I've done enough research on blockchain technology to conclude that EVENTUALLY, people will trust it more than they trust paper and and government. It may not happen for my generation but as we get older and blockchain begins to play a very significant role in society, trust will build and understanding will build. My opinion is....like it or not, it's coming unless something comes along to reset earth back to the stone age.
    AARC likes this.

  15. #45

    Jun 2012
    Oklahoma
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    Quote Originally Posted by AARC View Post
    Oh... and PS...
    Don't fool yourself with a false sense of security... IF you are online... you are never secure.
    Ever.
    No matter what technology exists... it is all only just temporary.
    Sooon as its built... they will find a way through and into it... or manipulate it.
    This will always be an ongoing battle.
    Remember... The rule of thumb in life is... its much harder to build than it is to un-build.
    I also want to address this ^ portion of your reply. If you're talking about forms of currency that have existed over mellennia such as precious metals...Ok...I agree. Over a long enough time period, any form of technology is bound to fall. But if this is still a comparison of cash to crypto...I totally disagree. If you are referencing the US dollar, I'd just refer you back to what you wrote above. "No matter what technology exists... it is all only just temporary."
    AARC likes this.

 

 
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