Right, but as it sits, the USD is extraordinarily inflated compared to the price of gold. I really hope Trump and his goons don’t try to say, “as of today, the USD is now worth $x,” because that won’t fly with the rest of the financial world.
I mean that’s all cool, but what, are we just gonna toss the dollar and trade gold bullion?
“You’re a bunch of dumb, weak losers for listening to my campaign promises. Morons.”
Considering he thinks the people that voted for him are stupid losers, he probably doesn’t care.
I was talking about going back to the gold standard, you’re talking about devaluing the USD to insane levels and obliterating the global economy. Eliminating the Fed and moving all monetary policy under the treasury would destroy the remaining faith in the USD, as the US Govt would have direct control, and traditionally, the stability of the USD was respected because of the independence of the Fed.
At this point I don’t see how that’s possible.
Oh I know, but we all know he’s gonna try.
If he gets his way, they’ll throttle down interest rates, inflation will soar as business raise prices to recoup their losses from the tariffs, and we’re all up shit creek more than we already are.
They’re not talking about dissolving the Fed, just getting rid of Powell because the big baby isn’t getting what he wants in terms of cheaper money.
MAGAts tend to suffer from sunk cost fallacy, among a myriad of other nonsense delusions.
Especially lunch. Apparently, according to some people, it’s weird to go to a restaurant alone. 30 minutes of peace where no one bothers me? It’s amazing.
Apparently the tournament game was in NJ
We can, but the average voter? Ehhhhh.
Think of how stupid the average person is, and realize half of them are stupider than that.
He did swipe that medal though
Eh it’s a lot of hq BluRay rips of disks I don’t have anymore. I could reacquire and rerip, but it’d be a total pita. The rest is personal docs/photos/etc. I’ve been spitballing sticking a NAS at my mom’s, but money’s tight right now.
DVDs also go shitty after a while (many years, but still).
Looks at my 60tb media archive
There’s got to be a cheaper way.
But can you really jam it?
Can I interest you in some beach front property in Nevada?
Yup, from Newport Beach, CA. I don’t know the reason or frequency, but it does seem like he’s home every weekend.
Indeed, $3,340/oz as of the time of this comment.
Historically, a bank note was the equivalent to a fixed amount of gold. However this fell apart due to the volatility of gold once it became traded as a commodity on stock exchanges, as well as when other nations abandoned their own gold standards. Iirc the reason virtually no countries peg their currencies to gold is due to the fact that doing so limits the ability of governments to enact flexible monetary policy (ie QE) in times of economic hardship, or to influence the stability of a given economy (as Powell is doing niw by keeping interest rates up to prevent hyperinflation). It also severely disadvantages nations that do not have gold deposits, and limits the global economy as a result.
Note: I’m an armchair economist, everything here is as far as I understand it and could be wildly wrong, but I try to read/listen to proper economists and not yahoos spouting off in TV.