phypon Posted July 28 Posted July 28 8 hours ago, Doc Brown said: Both. The weakening of the US dollar is overblown. It remains close to a 10 year high versus currencies of countries with which the U.S. trades. It remains the primary currency used for trade and financial transactions in the world economy. There's not really any other viable reserve currency alternatives. "I have a broken arm and I'm out of work for a month. You have two broken arms and will be out of work for two months. So, compared to you I'm doing great!". It doesn't work that way. Just because another currency is doing worse doesn't mean your primary currency is doing well. Sorry to say it, but what you are saying is parroting spin that the administration has used to sugar coat the health of the economy.
The Frankish Reich Posted July 28 Posted July 28 (edited) Just when you think he's all out of bad ideas, Trump calls for a "strategic U.S. cryptocurrency reserve." https://www.wsj.com/politics/elections/trump-adds-crypto-to-his-america-first-agenda-71ceb046?mod=hp_listb_pos2 If elected president, Trump said he intends to create a “strategic national bitcoin stockpile” where the government would keep the tokens it holds or acquires. The crypto industry has long hoped that the U.S. would establish a bitcoin reserve comparable to its gold reserve to lend legitimacy to the cryptocurrency and stabilize its price. In what way is it the U.S. government's role to "lend legitimacy" to crypto? Or even worse, to "stabilize its price." That sounds like a Federal Reserve type system for crypto, which is kind of the antithesis of the anti-fiat currency, right? This is more of what's called regulatory capture, this time by the biggest crypto investors/exchanges. Edited July 28 by The Frankish Reich 1 1
Doc Brown Posted July 28 Posted July 28 5 hours ago, phypon said: "I have a broken arm and I'm out of work for a month. You have two broken arms and will be out of work for two months. So, compared to you I'm doing great!". It doesn't work that way. Just because another currency is doing worse doesn't mean your primary currency is doing well. Sorry to say it, but what you are saying is parroting spin that the administration has used to sugar coat the health of the economy. Broken arms eventually heal though so in a way you are too. Just stating facts as the US dollar isn't going away as the major world currency anytime soon. It's still the most traded currency by a wide margin. As far as gold or Bitcoin goes, I don't invest in it because you're doing something out of fear. Those pushing it on you are selling fear. They're also betting against America. Specifically with Bitcoin though most people who buy it plan to sell it for a profit at a future date. It's no different than gambling in that sense and the house always wins with transaction fees being the case with Bitcoin instead of the vig. 1
The Frankish Reich Posted July 28 Posted July 28 25 minutes ago, Doc Brown said: As far as gold or Bitcoin goes, I don't invest in it because you're doing something out of fear. Those pushing it on you are selling fear. They've been selling greed a whole lot more than fear. Between those two - greed and fear - they've got quite a product to sell you. 1
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