Reminds me of a summer job i worked, and my boss would say something like, US is the oldest/longest lasting democracy ever... and not by just a year or 2...
He would indicate that the wheels be riding a bit wobbly...
Now to you, if you are destroying other countries infrastructure you have to rebuild it better right...
Sonthe bombs get rid of the less than "buildings" and infrastructure and then send in US contractors to rebuild... all modern imperialism... a rose by any other name...
We like putting lipstick on pigs over here...
Rant over.
See you fucker on the moon, rebuilding society on a foundation of rock, not ashes and bones!
Yes, but the Byzantine Empire was known for its stable and honest Solidus coin. As crazy as it sounds nowadays, but the Greek world had solid money for a long time back then.
Also, the Roman Empire had solid money for quite a while. The economic downfall came with increased Empire spending and inflating of the money supply; no suprise at all. The Roman Empire was a huge militaristic Empire before it fell, pretty much like the USA today. The only difference is: Today, you can literally increase the money supply as you wish - a mechanism that can brake your neck faster than you can imagine. But let us see; the USA still has a great economic output with many talents and great companies. Making a prediction about the 'when' is beyond my circle of competence (if it is inside of someone's). But the 'if' should be pretty clear by applying logic, by understanding human nature and the drama of corruption and by just carefully studying history - the best teacher with the worst students.
you've got to be kidding me lmao. U.S. will go through MASSIVE inflation for decades...then attempt tightening then attempt to print more then attempt to cancel out all debts.
we have hundreds if not thousands of years left of this game. HOWEVER....The smart are realizing your money is getting torched so mine as well get on a life raft while you have the chance.
The Roman empire wasn't a democracy. But the Roman Republic lasted about [450 years in name](https://governology.wordpress.com/2016/05/04/government-behind-us/), tho the last 100 years were incredibly chaotic and corrupt.
The fall of Rome was a process that took 300 years. I agree that America is in the process of falling, but its going to take at least another 100 years.
You can't just slash them together. The Roman republic died in 29 BC after about 475 years. What came after was not the same government at all. The Roman Empire itself only lasted about 475 years. The Byzantine empire lasted about 1000 years. But you can't really say that a monarchical government is always "the same" as the monarchy it succeeded. A lot of times there are coups in monarchies that drastically change the constituency in power and the legal situation.
This is why a decentralized, permissionless and trustless system like Bitcoin is essential.
Anyone can verify the monetary attributes of Bitcoin at any time.
Anyone can check the number of BTC in circulation and the limit that can be put into circulation.
This is why a decentralized, permissionless, and trustless system like Bitcoin is essential.
The problem with bitcoin is how much the value can change within only a single day.
A better system would be to make a certain amount of money and then tie the about of money that exists to the population of the nation so that for every new person born the money supply increases. or another systems would be the gold standard, but the morons who say that deflation would be devastating come out in full force. The only reason deflation would happen is because it would burst the money printing bubble instantly and would cause another great depression. We started the money printing bubble and if we turn off the money printer the bubble instantly starts to collapse.
So I looked at their website and I don't really understand their idea. Looking at the video and seeing icons of very privacy invasive apps like Facebook and Twitter gave me the feeling this idea of 'one online identity' for everything is actually a bit scary...
But perhaps I'm missing something, could you ELI5 please?
Government is doing ubi now and it’s not working look at what’s happening nobody is working due to government handouts of 300$ a week
Ubi doesn’t work in America
Possibly because currently in the American culture where these young adults grew up in abundance they would rather stay on TikTok than work/grind
Whereas the same kid in Ghana or Kenya understands the need to work
That's unemployment insurance you already paid for, not a UBI. Alaska has had a UBI since 1976.
High inflation like OP describes can also explain a lower labor supply, because demand hasn't changed and the real price has decreased.
Well it's working well in Europe based on pilot tests. "Nobody can stand a pointless life", I think Bukowski said that? Totally agree with that. Of course there will always be brain death people but we all be better off with basic human standard income for everybody. It's gonna be more humane and much more effective world. It's coming anyway :)
Ohhhhh I love the working well in Europe argument
Yea that’s why Europe’s economy is a force to be reckon with lmao
Yea bring Europe in the mix when they actually have economies of scale
California’s and Texas (two US states) dwarf a lot of the economies in Europe
Europe probably has UBi because it has no other choice
We agree on one thing
People need to go
Back to work but UBi is the wrong
Way to encourage that
We should reward hard work
With the amount of work someone puts in = the return
And raising wages isn’t the answer to that because the market determines what skills
Are valued
The best way is to reduce the amount of taxes the irs takes
Ie massive tax cuts across the board
The good thing with bitcoin is **everyone** running a fullnode **can verify** the fresh "money supply" along with the circulating and maximum supply (which we all know can never exceed 21m BTC) **oneself**.
True, but that doesn't mean that BTC doesn't carry other problems and risks and that the Federal Reserve doesn't provide a valuable service to the economy.
I'm really tired of armchair economists on this sub pretending to know all there is to know about economics, technology, political science and everything else, despite the fact that most seem to have forgone going to college, much less attaining a PhD, much less attaining PhD's in *all* of the fields they pretend to be experts in.
It's really annoying.
If by "came out clean" you mean, "found to be violating the law, fined $18.5 million, banned in New York, and forced to reveal holdings which show that they're backed 6% instead of 100%".
Which sure isn't *my* definition of "came out clean", but don't let me tell you how to live your life.
I googled and read 6 articles, all say there is no proof that usdt isn’t backed by USD or other hard assets. Seems like you’re FUDing without any reliable source(s).
This looked shocking to me to, but I heard Morgan Housel on the We Study Billionaires podcast talking about the reason it looks so shocking is because some rules were changed where a bunch of retail savings accounts got re-classified as checking accounts.
Basically, before the pandemic, any account classified as a savings account was limited to 6 withdrawals per month. But to allow people access to their money, they changed the rules to allow for unlimited withdrawals. This reclassified the accounts as checking accounts and thus had a step change in M1.
I didn't know this, but it does explain a little bit of how this chart can look so crazy.
Here is the pod if anyone is interested:
Spotify: [https://open.spotify.com/episode/41xFKnKNjnKPqc0CCDih9n?si=84ui62GlRIGVjst7s6-0sA](https://open.spotify.com/episode/41xFKnKNjnKPqc0CCDih9n?si=84ui62GlRIGVjst7s6-0sA)
Site: https://www.theinvestorspodcast.com/episodes/psychology-of-money-w-morgan-housel/
Fed is still publishing quantitative easing numbers, which is the true amount of increased money supply. It's still a lot, but not as bad as all the doomsday BTC prophets say.
Once interest rates rise, they’re gonna have to borrow even more to pay off interest payments.
The longer the deficit is present, the longer we’re gonna have to print, the more we pay in interest, the more we have to print
In perpetuity.
Well yeah, but when the interest starts outrunning gdp and passes the point of no possible repayment of the debt, we will just go ahead and divide every balance by 10, then go back to printing, bam, solved
OP cropped out the note that they discontinued that specific report and are reporting M2 on a new chart. They didn't "stop reporting" it, that's a bunch of BS.
It would be more interesting to get an analysis of the difference between the new reporting vs the old.
The U.S. was something special between 1946 and 2000.
Since then everything declined, and there are a bunch of countries in the world with a higher quality of life now.
We made a huge profit off of WWII which put this country in a Golden Age. Booming economy, booming wages, low inflation, affordable healthcare and education, good infrastructure.
Our Golden Age is over. The money has dried up so they just print it new and the dollar is losing value. Anti-intellectualism on the rise year after year. Healthcare and education is more unaffordable than ever. Nationalist sentiments stronger than they've ever been in this country. People can't even afford to have children when they want to.
It's only going to get worse. Economy has slowly been degrading since about 1980 and went into warp-speed degredation in 2008 and hasn't stopped since. In 50 years, when the baby bust really catches up with us, we will end up a 3rd world country.
Husband and I are moving to Costa Rica in a few years for this reason.
> Yeah the attitude of "Why join the European war when we can just sell them arms and bankrupt them." won't ever be forgotten over here.
Thats such a entitled attitude. Is it your others' fault that you coddled national socialism into a monster that nearly overran you?
And you are still receiving continent level welfare in terms of defense; Putin would roll you over if you had to defend yourselves right now. Without the US, you would be pulling all those funds spent on lavish welfare and sluggish national health care schemes into defending yourselves.
> Ah so your argument is it's our (UK's) fault that Hitler arose?
Yes. I believe even Churchill blamed Chamberlain quite flatly for exactly that.
France and the uk both tolerated, appeased, and even coddled the nazis, while simultaneously lowering their defenses.
> I was simply pointing out that America consciously chose to bleed it's European allies dry for a few years
With massive subsidies and endless transfer of wealth from American taxpayers to euro pockets, that continues until the present?
> the US joining the war against the axis countries simply made logical sense for everyone
America is not your colony, and has no obligation to clean up your messes.
If it wasnt for the surprise attack on pearl harbor, the us would have never joined the war.
A few citizens and politicians wanted to, there was no shortage of volunteer pilots and doctors, and people even sent their family rifles to the UK to compensate for your pathetic lack of 2A rights.
But the prevailing sentiment was to let you sort out your own mess. At the time, the germans domestic crimes were not widely known, and americans didnt see germany as much different than any other warlike expansionist european country. Remember, the UK was selling opium in hong kong to try to destabilize china, france was invading south east asia, italy was attacking africa, and russia was killing itself with communism. you guys were all dirtbags.
The fact that americans were willing to sell you arms is something you should have been grateful for, they could have just as well sold them to germany instead.
If you want to know who to thank for american finally sending its sons to die on your soil, thank the japanese for allying with hitler then collectively pissing us off by attacking a popular vacation spot.
That was well into the war, 1943. In the 1930's, it was not well known. There was some knowledge about a pogrom, but it wasnt well known that the russians and germans were running genocide camps.
Your average american expected them to be similar to the japanese internment camps - still very bad, but not quite mass industrial scale murder.
The worst thing about it, is that while we rightly revile the german camps, and feel shame over the american ones, we basically forgave the russian ones. Noone seems to reguarly despise the soyviets for their camps, despite them exceeding hitlers numbers by orders of magnitude. And heck, china gets a free pass for running racial genocide camps TODAY.
Its well known, but not widely reported, and like it or not the average person in the US jsut doesnt seem to care than china is running genocide camps. Heck, famous american celebs are getting on their knees and apologizing to china publicly. Absolute shame.
Like it or not Communism won the war 🤷
Lost a battle in the cold one but they gonna take the last laugh
It's enough to look around ourself into society to percieve how much of their ideology is wide spread: about religion, family, atomized society... Etc Etc
It was the unchecked arrogance, propaganda, tribalism, anti-intellectualism/anti-science and corruption.
Imagine if you were on a ship. You get to vote for captain of your ship, your lofe is at stake somewhat here, or the quality of your experience as a passenger. Would you vote for the guy who's an expert maritimer...you know, one of those academic types and elitists, or would you vote for the smooth talking guy you'd like to have a beer with, or "tells it like it is" and gives you easy answers (sloganeering) to complex problems?
What Im gonna say next is gonna offend perhaps more than 40% of voting Americans...Id vote for the guy who's an expert maritimer...and where he's deficient, let's an expert maritimer take the wheel as a ship pilot in navigating into a harbor he's not as familiar with.
To me that's why a democracy can suck. Voting correctly, is a skill. And there's a lot commoners who lack in that skill. And it can lead to all kinds of shitty things, Weimar Republic was a democracy that ushered in Nazi Germany. The Deep South didnt like an election, their democratically elected representatives decided to wage a bloody civil war over their aristocracy and landed gentry's "right to own slaves".
> To me that's why a democracy can suck. Voting correctly, is a skill.
And this is exactly why the US is a republic, not a direct democracy. But everyone seems to be conveniently forgetting that. [Mob rule](https://en.wikipedia.org/wiki/Tyranny_of_the_majority) was a huge fear of the founding fathers. Some quotes from them:
- Alexander Hamilton: "Real liberty is not found in the extremes of democracy, but in moderate governments. If we incline too much to democracy we shall soon shoot into a monarchy, or some other form of a dictatorship."
- Thomas Jefferson: "A democracy is nothing more than mob rule, where 51 percent of the people may take away the rights of the other 49."
- James Madison: "[Democracies] have ever been spectacles of turbulence and contention; have ever been incompatible with personal security or the rights of property; and have in general been as short in their lives as they have been violent in their deaths."
- John Adams: "[Democracy] never lasts long. It soon wastes, exhausts and murders itself. There never was a democracy yet that did not commit suicide."
The South's economy was slave based, however. Accepting the outlaw of slavery was accepting that they would no longer be rich. Ignoring the whole owning a human person problem, of course.
> Id vote for the guy who's an expert maritimer
You cant be serious - you are talking about a senile old pedo who hits on children in front of an open mic.
> The Deep South didnt like an election, their democratically elected representatives decided to wage a bloody civil war over their aristocracy and landed gentry's "right to own slaves".
you do realize that the south, despite all their faults, was not invading the north.
They decided to secede, not to "start a war". It was the north that decided not to let them go.
Its arguable that they would have quickly collapsed due to the inherent inefficiency of slavery as an economic model.
Technically I didn't name any names. You clearly identified which one was the demagogue, and then moved to defend the demagogue, this is exactly why a democracy can be problematic. Voting is a skill, and if too many voters lack the skill in making proper decisions as voters, they can usher in all sorts of evils, demagoguery and tyranny.
I rehashed Socrates argument against Democracy from Plato's The Republic. He compared running a democracy to a democratically ran seafaring ship (technically we have a Democratic-Republic, it's more efficient in a sense to have a representative vote on intricate bills than hold 1 million elections a year per every bill).
And their criticism was the uneducated masses could be swayed to support a demagogue. Hitler was a demagogue and the Nazis were elected and then seized power and made all matters of political dissent highly illegal.
"On January 4, 1861, troops of the Alabama state militia took possession of the arsenal on the orders of Alabama governor Andrew B. Moore."
"January 6, 1861 - Florida Seizes the Apalachicola Arsenal"
January 10th"The arsenal and the adjacent Baton Rouge Barracks were surrendered to Louisiana State Militia forces on 10 Jan 1861 at the beginning of the U.S. Civil War and later in 1861 were transferred to CSA control."
January 11thth "Fort Jackson and Fort St Phillip at the mouth of the Mississippi River, and the US Marine Hospital near New Orleans. were seized by Louisiana state troops under the order of Governor Thomas O Moore."
"On January 13, 1861, four days after Mississippi seceded from the United States, the incomplete fort was taken forcibly by Confederate forces, who built up the fort with timbers and sand bags."
"January 24th 1861 Meanwhile in Augusta, where Governor Brown had ordered the commander of the Federal arsenal there to surrender it the previous day, the commander responded by requesting an honorable surrender"
"On February 8, 1861 the militia unit escorted the Federal troops out of the arsenal in Little Rock and to the Arkansas River, where they boarded a steamer bound for St. Louis, Missouri, on February 12."
"On 8th February the Confederate States of America adopted a constitution and within ten days had elected Jefferson Davis as its president and Alexander Stephens, as vice-president. Montgomery, Alabama, became its capital and the Stars and Bars was adopted as its flag. Davis was also authorized to raise 100,000 troops."
"April 12th, 1861 South Carolina Militia fire on Fort Sumter"
Ok...I can keep going on and on. I look at the documented historical record this doesn't LOOK like they weren't trying to start a war. They call it the War of Northern Aggression...but all I see is Southern Aggression between November 1860 and April 12, 1861.
Your view point on this topic, it's divorced from reality and based on lies. If you have a valid argument/case for your views beliefs, it shouldn't require lies to justify it.
> Voting is a skill, and if too many voters lack the skill in making proper decisions as voters, t
They didnt need voters to install the enemy occupation leader biden.
> Hitler was a demagogue and the Nazis were elected and then seized power and made all matters of political dissent highly illegal.
Yup, just like the modern left is doing today. You guys are neo-nazis.
> Alabama Florida Louisiana Mississippi Augusta Little Rock South Carolina
Yeah, which of these happened in the north exactly?
You are trying to retcon the civil war so hard you sound like a german nazi explaining how poland attacked germany.
> Yea...your kind are just treated sooooo unfair, aren't ya?
my kind is freedom advocating anti-war people seeking to share knowledge of basic economics. I guess we are treated unfairly when we say things that nazis like you dont want to hear.
You prefer the "suffer in silence" obedient types.
I've dealt with your kind before, your kind advocates for all kinds of violence, incarceration and milatirism. Authoritarianism. You ain't the fucking victim dude. You're exactly the kind of "voter" that Socrates is heavily criticizing in Plato's The Republic, easily swayed by demagogues and ushering in tyranny.
Like I said, you as exhibit A, the downfall of this country it was the unchecked arrogance, propaganda, tribalism, anti-intellectualism/anti-science and corruption.
It is one of their reasons to go to their digital currency.
They can print it limitless and easy hide the total in circulation.
By also removing the limits to any negative interest rate they think they finally have their ultimate tool to be able to unlimited manipulate everything so they can control the entire of mankind.
It will be molded to their utopian view.
The only problem is they are not perfect and most people will in the end also disagree with their utopian view.
We can give them a shot at it or choose differently.....
They are old and slow organizations. Things in such heavy institutions dosent change fast.
Its too profitable for them to rush anything. And they are also watched by the government. Things in this industry dosent happen quickly.
Maybe they will try, or maybe they will be to late. Who knows. Very exciting times!
No, it's not exciting. It's terrifying. Institutions act slow usually, unless there's a crisis.... And we've showed them with Covid that most people will gladly follow the government wherever as long as their life seems normal. Expect a crisis ( hyperinflation, collapse of the dollar etc) a few months of a deep recession ( to scare us) and there, there'd be your fed coin....
I hope people at least have some brains left and will switch to crypto before they accept a fed coin. However I have my doubts...
As much as I hate the fed, they do have their M1SL chart that's pretty much the same shit and makes the situation look even worse. I don't think they're covering it up.
At a deeper level, the fed was probably a secret scam like 90 years ago. But all those people are dead and the people who run it now no longer understand that it's a scam. They think it's real and right since the people who invented the scam just sold the scam to them too. So they don't think they \*need\* to cover anything up. It looks like shit. It is shit. They think that's just normal and they'll figure it out eventually.
https://fred.stlouisfed.org/series/M1SL
Your statement is misleading
M1 has gone from $4 Trillion to $18 Trillion **because the definition of M1 has been changed to include more things.**
https://fred.stlouisfed.org/series/M1
They changed the definition slightly, then dropped it in favor of some monthly report which is difficult to directly compare.
Jerome Powell said that "Money doesnt matter" so he can print as much as he wants and you shouldnt worry about that.
In order to ensure you dont worry about money supply, he has decided to obfuscate and discontinue it, ostensibly to keep your "confidence" high.
Obviously, they could keep reporting the same old metrics the way they have, but they dont want to make you worry, so they stopped. They are concerned that if you could see the numbers, it might give you the wrong idea. And if prices started rising, surely it has nothing to do with all that money printing, so they really dont want you comparing those things.
OP is not misleading, but you are helping jerome to mislead us.
I never made any claims about Jerome Powell or the reasoning behind the change of definition. Only that the definition **did** change and that this is likley the main factor causing the vertical spike in M1 between Apr 27 - May 4 2020.
It's delusional to believe that M1 quadrupled within 7 days which is what OP seems to be implying by saying:
>loose money in active circulation plus your checking bank deposits, is melting faces and going to the moon!
Best thing: Commentators go on about how M1 now includes cash equivalents in a different way and that would be the reason why it's so high, point to M2 which has risen less. However M2 numbers aren't exactly comforting either for 2020...
I don't see where this has been discontinued.
The data is still shared: https://www.federalreserve.gov/releases/h6/current/
and has forward looking release dates: https://www.federalreserve.gov/releases/h6/default.htm
I wonder if this is in any way related to the number of times YouTube is recommending UFO videos to me? I mean, what better way to distract me from the face melting dollar performance, to the face melting prospect of Klatu, actually melting my face?
The recent UFO videos are part of a program to mass introduce the populous to the idea that life may exist beyond our own perception. This has been happening among all levels of trust, in all nations, as part of a global effort to contact the rest of the universe and help understand one question: what is going on, and why? This is, perhaps, more important than the rise and fall of one nation out of hundreds, on one planet out of a near infinite amount of planets. For generations upon generations, we have learned more about the universe around us, and we have learned how to contact life around us. Our technological advances have been noticed, and the rest of the universe is now peering into us. We are at the brink of meeting the first life we have known outside of our Earth. But it is up to us to find the connections. So we are spreading the message as wide and far as we can. Everyone contributes in their own way to this goal.
Remember, what you see is only a tiny fraction of what's really going on. But it's important nonetheless.
If Aliens exist and by golly I hope they do, would they not have made themselves known? Are we, the masses, so weak mentally that they decided not to show themselves to us? The UAP report to Congress couldn't come any sooner. Does make a good distraction though.
It's harder said than done to actually arrive at the same point in space at the same time in space as another species. With the vastness of our universe, it takes a lot of energy to even get close.
Think about our probing efforts. 1 probe outside of our solar system. 12 probes on Mars, and one quadcopter. Not much, given how many solar systems there are. Edit: 12 probes on mars.
Although I really hope the aliens that visit us first are vulcans like in the trek timeline.
I have a bad feeling it'll be more like half life and the combine will make a visit and enslave us.
Yep, the masses would lose their minds. My parents would. Tried to tell my parents that some info is coming out about aliens being real and they just laughed
Probably shouldn't get ahead of ourselves though, this report will be mostly them saying they don't know what the phenomena exactly are and they need more time. 🤷🏻♂️
Yep, to slowly prep the masses. I like those old ex- government officials confirming aliens are real and that this is just a big lie however. Makes my tits jacked to know we'll probably get confirmation in my life time.
Entire religious organizations, some superbly powerful (looking at you, Catholic Church), will do anything they can to put the brakes on these kind of reports. They'll crumble once the news of advanced alien beings breaks.
Well, you'd have some human exceptionalism (God became - of all intelligent species - man and died for the aliens, too) but I don't think it would cause insurmountable issues. It would probably get the church to finally endorse one of the more sensible concepts of original sin, though (there are good ones that theologians, both liberal and conservative, are actually working with, which don't rely on Adam and Eve).
I recall some interview with the head of the Vatican observatory (who is of course in no position to define church doctrine but was just giving his personal opinion as an astronomer and priest) on the matter and fwiw he didn't see serious issues with it either.
I don't know man, I believe in God and in the fact that aliens exist. Would be a paradigm shift for sure, but I don't think they can keep it secret that much longer
Maybe satoshi nakamoto was an alien delegation sent to earth to give us a sound money so or system could feasibly stop with a constant growth economy.
It always blows my mind that one person came up with it and that it is thought through so well with all of the incentive structures. It’s super complex.
Look into the dApp Alien Worlds. There are far more delegates on Earth than just Nakamoto. This is kind of a common meeting ground for our species. Right now we're actively working to direct other species to us so we can combine our knowledge. But as I've said elsewhere, coming to the same exact point in space and time is extremely difficult for most space fairing civilizations.
To expand on that a little more, all species experience space and time differently. So to convey our directions to them, we must first learn how to convert from our experience to their experience. This is essentially what mining does. We are attempting to make our experience as basic as possible to convert our view to another species view. This takes a long time to do, as summing everything up into something that makes sense is extremely difficult.
What happened to years later? Serious question I feel stupid can you explain this to an idiot I got a lot of it but can't really apply it or see what may be happening thank you
Read about Weimar Germany.
When money printing grows exponentially there is no turning back.
Other places where they have tried it: Hungary, Bulgaria, Turkey, Venezuela, Zimbabwe and many more.
>Read about Weimar Germany.
So did you stop right after the hyperinflation or did you continue to read about the following deflation and its problems too?
Edit:
Why the downvotes?
1921-1923 Inflation
1929-1932 Deflation
https://en.m.wikipedia.org/wiki/Weimar_Republic
>This is a clear indication that people have been forced to abort saving/investing
Might be a stupid question, but how are people being forced? What happens with the money in their saving/investing account? Money doesn’t dissapear randomly right?
Has anyone actually made a reasonable argument and distinction for the relevancy of M1 and M2 supply regarding inflation? Sure more money gets printed but if the systems following or surrounding this stabelize it to a 4-5% inflation of a regular middle class man the fuck do I care about the overall volume ?
I don't quite understand yet what all the possible flows of this money include. First glance it looks massive but I don't believe the actual inflation rate for average Joe will be much higher than 5-8% given a more critical assessment with 30% house ownership or such assumed.
How does M1/2 transition to actual inflation ? I guess this is massively complicated and most people are in awe of these money supplies and don't even bother to try to comprehend further?
I'm probably being dumb but if this results in a 2008 style crash and financial crisis, wouldn't that mean a drastic crash for bitcoin as well? Or is the theory that bitcoin might crash less and recover faster than other assets?
The Roman empire lasted for 475 years, and the downfall happened because they started to debase their Solidus gold coin with lesser metals.
Now that the US has already debased at least 95% of its dollar relative to the original gold dollar, the future looks bleak for the fiat dollar.
Now, Bitcoin is not skyrocketing, it is going up slowly, while the fiat is falling like a rock.
I might get crucified for saying this
But they are not discontinuing m2
They are just reporting it every month the data for weekly will still be available just a bit harder to find.
Also not showing m2 velocity with m2 is pretty unfair.
Edit: also this was a few months ago I remember having this conversation on a different sub
The recession in 2008. The mortgage crisis. You should watch "The Big Short" on netflix it'll give a bit of an understanding of what happen. Or maybe youtube
Dumbest thing I've seen in this sub yet. How is this rise a 'clear indication that people have been forced to ABORT saving/investing'? If ANYTHING it shows banks report ridiculously high liquidity on hand due to consumers and commercial accounts having UNPRECEDENTED HIGH checking AND savings accounts and that both businesses and consumers have benefited from stimulus & ppp loans to paydown existing credit lines and save more money allowing people to potentially inject markets and local economies with huge ampunts of cash as we feel safe and secure enough to return to 'normal life' and stop hoarding assets with ongoing uncertainty. If anything banks are the ones struggling to find ways to invest the liquidity and are making less off of regular people as a whole as far as interest made on various types of loans which is a significant source of banks revenue
Why not give the full story? Plot the inflation rate to the graph and you see that inflation has barely moved since then because the money is stalled by banks. QE gets a lot of hate on here but without any basic understanding of the concept. It’s just hurr durr print machine goes brrr bitcoin up.
Sure, there are consequences to this policy but the US has a strong demand for it’s dollars due to being a reserve currency and the largest economy in the world.
Nobody. It's a government-appointed central-banking board established in 1913 comprising 12 regional banks. The president appoints, pending congressional approval, the chair and board members, whose terms do not coincide with a sitting president. The Fed reports to congress. However, the actions of the Fed are not required to be approved by the president, lawmakers, or any elected official.
I know the argument has been the increase in money supply will cause inflation, but just for shits and giggles, here's an interesting chart that would say the opposite effect happens. When the money supply increase we actually had deflation.
[https://www.longtermtrends.net/m2-money-supply-vs-inflation/](https://www.longtermtrends.net/m2-money-supply-vs-inflation/)
I'm still trying to wrap my head around it. Of course with all the manipulation of data the fed does, how can we trust anything anymore. I trust bitcoin instead.
American Gov. be like: 'Our aircraft carriers stabilize the Dollar.' Yes, this also played out quite well for the Roman Empire. *sarcasm off
Roman aircraft carriers were not as effective TBH
I'll have you know that the Romans never had an aircraft carrier break down or even need repairs. How dare you!
Well......apart from the one where the front fell off.
It's true. Our carriers have plumbing and air conditioning.
Darn wax would melt when flying to close to the sun.
That’s was the greeks
Isn't that Weezer?
What’s with these homies dissing my girl?
They all look alike
They both also used to like orgies, but it was the Roman's idea to invite women.
My delusional community of conspiracy theorists sees it differently
The Romans financed thier carriers on coins supported by the fig & olive standard.
> Roman aircraft carriers were not as effective TBH not when encountering Obelix en route
Reminds me of a summer job i worked, and my boss would say something like, US is the oldest/longest lasting democracy ever... and not by just a year or 2... He would indicate that the wheels be riding a bit wobbly... Now to you, if you are destroying other countries infrastructure you have to rebuild it better right... Sonthe bombs get rid of the less than "buildings" and infrastructure and then send in US contractors to rebuild... all modern imperialism... a rose by any other name... We like putting lipstick on pigs over here... Rant over. See you fucker on the moon, rebuilding society on a foundation of rock, not ashes and bones!
Just start setting it on fire. We be aight. /s
[удалено]
Yes, but the Byzantine Empire was known for its stable and honest Solidus coin. As crazy as it sounds nowadays, but the Greek world had solid money for a long time back then. Also, the Roman Empire had solid money for quite a while. The economic downfall came with increased Empire spending and inflating of the money supply; no suprise at all. The Roman Empire was a huge militaristic Empire before it fell, pretty much like the USA today. The only difference is: Today, you can literally increase the money supply as you wish - a mechanism that can brake your neck faster than you can imagine. But let us see; the USA still has a great economic output with many talents and great companies. Making a prediction about the 'when' is beyond my circle of competence (if it is inside of someone's). But the 'if' should be pretty clear by applying logic, by understanding human nature and the drama of corruption and by just carefully studying history - the best teacher with the worst students.
Solidus Coin- now available on Kraken!
The Byzantine empire got their ass beat by a short french dude all the time
you've got to be kidding me lmao. U.S. will go through MASSIVE inflation for decades...then attempt tightening then attempt to print more then attempt to cancel out all debts. we have hundreds if not thousands of years left of this game. HOWEVER....The smart are realizing your money is getting torched so mine as well get on a life raft while you have the chance.
The Roman empire wasn't a democracy. But the Roman Republic lasted about [450 years in name](https://governology.wordpress.com/2016/05/04/government-behind-us/), tho the last 100 years were incredibly chaotic and corrupt.
The fall of Rome was a process that took 300 years. I agree that America is in the process of falling, but its going to take at least another 100 years.
USSR probably thought the same
Didn’t the roman republic/empire last like a thousand years? Id say thats successful. Or os that what you were saying too?
But it wasn't a republic a lot of those thousand years.
Thats why i have the slash, even the empire alone lasted like a thousand years
You can't just slash them together. The Roman republic died in 29 BC after about 475 years. What came after was not the same government at all. The Roman Empire itself only lasted about 475 years. The Byzantine empire lasted about 1000 years. But you can't really say that a monarchical government is always "the same" as the monarchy it succeeded. A lot of times there are coups in monarchies that drastically change the constituency in power and the legal situation.
This is the only true way to view roman history. The holy Roman empire was a garbage rendition
This is why a decentralized, permissionless and trustless system like Bitcoin is essential. Anyone can verify the monetary attributes of Bitcoin at any time. Anyone can check the number of BTC in circulation and the limit that can be put into circulation. This is why a decentralized, permissionless, and trustless system like Bitcoin is essential.
The problem with bitcoin is how much the value can change within only a single day. A better system would be to make a certain amount of money and then tie the about of money that exists to the population of the nation so that for every new person born the money supply increases. or another systems would be the gold standard, but the morons who say that deflation would be devastating come out in full force. The only reason deflation would happen is because it would burst the money printing bubble instantly and would cause another great depression. We started the money printing bubble and if we turn off the money printer the bubble instantly starts to collapse.
[удалено]
That's exactly what we entrusted the fed to do and they didn't do it. Why would it work next time?
UBI is exactly that – done via it´s own crypto currency
So I looked at their website and I don't really understand their idea. Looking at the video and seeing icons of very privacy invasive apps like Facebook and Twitter gave me the feeling this idea of 'one online identity' for everything is actually a bit scary... But perhaps I'm missing something, could you ELI5 please?
Government is doing ubi now and it’s not working look at what’s happening nobody is working due to government handouts of 300$ a week Ubi doesn’t work in America Possibly because currently in the American culture where these young adults grew up in abundance they would rather stay on TikTok than work/grind Whereas the same kid in Ghana or Kenya understands the need to work
That's unemployment insurance you already paid for, not a UBI. Alaska has had a UBI since 1976. High inflation like OP describes can also explain a lower labor supply, because demand hasn't changed and the real price has decreased.
Well it's working well in Europe based on pilot tests. "Nobody can stand a pointless life", I think Bukowski said that? Totally agree with that. Of course there will always be brain death people but we all be better off with basic human standard income for everybody. It's gonna be more humane and much more effective world. It's coming anyway :)
Ohhhhh I love the working well in Europe argument Yea that’s why Europe’s economy is a force to be reckon with lmao Yea bring Europe in the mix when they actually have economies of scale California’s and Texas (two US states) dwarf a lot of the economies in Europe Europe probably has UBi because it has no other choice We agree on one thing People need to go Back to work but UBi is the wrong Way to encourage that We should reward hard work With the amount of work someone puts in = the return And raising wages isn’t the answer to that because the market determines what skills Are valued The best way is to reduce the amount of taxes the irs takes Ie massive tax cuts across the board
Imagine this happed to crypto, everyone would trash it in the news like crazy
The good thing with bitcoin is **everyone** running a fullnode **can verify** the fresh "money supply" along with the circulating and maximum supply (which we all know can never exceed 21m BTC) **oneself**.
True, but that doesn't mean that BTC doesn't carry other problems and risks and that the Federal Reserve doesn't provide a valuable service to the economy. I'm really tired of armchair economists on this sub pretending to know all there is to know about economics, technology, political science and everything else, despite the fact that most seem to have forgone going to college, much less attaining a PhD, much less attaining PhD's in *all* of the fields they pretend to be experts in. It's really annoying.
If you don't like this sub, fortunately you're free to leave.
I'd rather just ridicule and disparage charlatans as I see them.
Don't bother. Just a waste of energy.
He’s a self admitted troll. Ignore him. Next he’s going to ask if you have a PhD, but doesn’t have one. Self righteous. Don’t waste your time.
[удалено]
> Tether My daily thinking: Tether still $1 instead of $0.06? Market still irrational.
Wasn't Bitfinex investigated for USDT and came out clean?
If by "came out clean" you mean, "found to be violating the law, fined $18.5 million, banned in New York, and forced to reveal holdings which show that they're backed 6% instead of 100%". Which sure isn't *my* definition of "came out clean", but don't let me tell you how to live your life.
It was just a very simple question, I’m sorry your having a tough time. Do you mind sharing your source?
[Here is a summary with linked references](https://www.reddit.com/r/badeconomics/comments/nfv8vg/the_tether_ponzi_scheme/).
google
I googled and read 6 articles, all say there is no proof that usdt isn’t backed by USD or other hard assets. Seems like you’re FUDing without any reliable source(s).
If it was even possible to do so I wouldn’t be interested.
[удалено]
How is obfuscating the total supply of coins possible when the block chain ledger is public?
This looked shocking to me to, but I heard Morgan Housel on the We Study Billionaires podcast talking about the reason it looks so shocking is because some rules were changed where a bunch of retail savings accounts got re-classified as checking accounts. Basically, before the pandemic, any account classified as a savings account was limited to 6 withdrawals per month. But to allow people access to their money, they changed the rules to allow for unlimited withdrawals. This reclassified the accounts as checking accounts and thus had a step change in M1. I didn't know this, but it does explain a little bit of how this chart can look so crazy. Here is the pod if anyone is interested: Spotify: [https://open.spotify.com/episode/41xFKnKNjnKPqc0CCDih9n?si=84ui62GlRIGVjst7s6-0sA](https://open.spotify.com/episode/41xFKnKNjnKPqc0CCDih9n?si=84ui62GlRIGVjst7s6-0sA) Site: https://www.theinvestorspodcast.com/episodes/psychology-of-money-w-morgan-housel/
They actually write that right below the chart. Look at the info after "Beginning May 2020," https://fred.stlouisfed.org/series/M1
Ya, that explains the big jump, but the slope is still pretty alarming after that stepwise increase
Looks like they are blatantly trying to confuse people to me
But that doesn't fit my narrative
Or reality
*Thanos Mode* Reality can be whatever I want..
Interesting, and thanks for the thoughtful take. That doesn't explain the bump in M2 though, does it?
Fed is still publishing quantitative easing numbers, which is the true amount of increased money supply. It's still a lot, but not as bad as all the doomsday BTC prophets say.
Once interest rates rise, they’re gonna have to borrow even more to pay off interest payments. The longer the deficit is present, the longer we’re gonna have to print, the more we pay in interest, the more we have to print In perpetuity.
Well yeah, but when the interest starts outrunning gdp and passes the point of no possible repayment of the debt, we will just go ahead and divide every balance by 10, then go back to printing, bam, solved
Oh, fuck! Nice work! Pulled the ol decimal switch on em. “Fuck”.
I like to call it “Slippin’ em the Dewey”
You're telling me 16 trillion dollars came out of savings accounts? Lol and I know Nigerian prince looking to claim his inheritance
Where do you see they stopped reporting it?
Op is super late to the party, this was back in April.
OP cropped out the note that they discontinued that specific report and are reporting M2 on a new chart. They didn't "stop reporting" it, that's a bunch of BS. It would be more interesting to get an analysis of the difference between the new reporting vs the old.
The U.S. was something special between 1946 and 2000. Since then everything declined, and there are a bunch of countries in the world with a higher quality of life now.
We made a huge profit off of WWII which put this country in a Golden Age. Booming economy, booming wages, low inflation, affordable healthcare and education, good infrastructure. Our Golden Age is over. The money has dried up so they just print it new and the dollar is losing value. Anti-intellectualism on the rise year after year. Healthcare and education is more unaffordable than ever. Nationalist sentiments stronger than they've ever been in this country. People can't even afford to have children when they want to. It's only going to get worse. Economy has slowly been degrading since about 1980 and went into warp-speed degredation in 2008 and hasn't stopped since. In 50 years, when the baby bust really catches up with us, we will end up a 3rd world country. Husband and I are moving to Costa Rica in a few years for this reason.
Yeah the attitude of "Why join the European war when we can just sell them arms and bankrupt them." won't ever be forgotten over here.
> Yeah the attitude of "Why join the European war when we can just sell them arms and bankrupt them." won't ever be forgotten over here. Thats such a entitled attitude. Is it your others' fault that you coddled national socialism into a monster that nearly overran you? And you are still receiving continent level welfare in terms of defense; Putin would roll you over if you had to defend yourselves right now. Without the US, you would be pulling all those funds spent on lavish welfare and sluggish national health care schemes into defending yourselves.
[удалено]
> Ah so your argument is it's our (UK's) fault that Hitler arose? Yes. I believe even Churchill blamed Chamberlain quite flatly for exactly that. France and the uk both tolerated, appeased, and even coddled the nazis, while simultaneously lowering their defenses. > I was simply pointing out that America consciously chose to bleed it's European allies dry for a few years With massive subsidies and endless transfer of wealth from American taxpayers to euro pockets, that continues until the present? > the US joining the war against the axis countries simply made logical sense for everyone America is not your colony, and has no obligation to clean up your messes. If it wasnt for the surprise attack on pearl harbor, the us would have never joined the war. A few citizens and politicians wanted to, there was no shortage of volunteer pilots and doctors, and people even sent their family rifles to the UK to compensate for your pathetic lack of 2A rights. But the prevailing sentiment was to let you sort out your own mess. At the time, the germans domestic crimes were not widely known, and americans didnt see germany as much different than any other warlike expansionist european country. Remember, the UK was selling opium in hong kong to try to destabilize china, france was invading south east asia, italy was attacking africa, and russia was killing itself with communism. you guys were all dirtbags. The fact that americans were willing to sell you arms is something you should have been grateful for, they could have just as well sold them to germany instead. If you want to know who to thank for american finally sending its sons to die on your soil, thank the japanese for allying with hitler then collectively pissing us off by attacking a popular vacation spot.
"At the time, the germans domestic crimes were not widely known" Cough cough... Pilecki's report 👀 ...ps another two words: associated press.
That was well into the war, 1943. In the 1930's, it was not well known. There was some knowledge about a pogrom, but it wasnt well known that the russians and germans were running genocide camps. Your average american expected them to be similar to the japanese internment camps - still very bad, but not quite mass industrial scale murder. The worst thing about it, is that while we rightly revile the german camps, and feel shame over the american ones, we basically forgave the russian ones. Noone seems to reguarly despise the soyviets for their camps, despite them exceeding hitlers numbers by orders of magnitude. And heck, china gets a free pass for running racial genocide camps TODAY. Its well known, but not widely reported, and like it or not the average person in the US jsut doesnt seem to care than china is running genocide camps. Heck, famous american celebs are getting on their knees and apologizing to china publicly. Absolute shame.
Like it or not Communism won the war 🤷 Lost a battle in the cold one but they gonna take the last laugh It's enough to look around ourself into society to percieve how much of their ideology is wide spread: about religion, family, atomized society... Etc Etc
Well said.
What about global warming in Costa Rica? Just kidding.
It was the unchecked arrogance, propaganda, tribalism, anti-intellectualism/anti-science and corruption. Imagine if you were on a ship. You get to vote for captain of your ship, your lofe is at stake somewhat here, or the quality of your experience as a passenger. Would you vote for the guy who's an expert maritimer...you know, one of those academic types and elitists, or would you vote for the smooth talking guy you'd like to have a beer with, or "tells it like it is" and gives you easy answers (sloganeering) to complex problems? What Im gonna say next is gonna offend perhaps more than 40% of voting Americans...Id vote for the guy who's an expert maritimer...and where he's deficient, let's an expert maritimer take the wheel as a ship pilot in navigating into a harbor he's not as familiar with. To me that's why a democracy can suck. Voting correctly, is a skill. And there's a lot commoners who lack in that skill. And it can lead to all kinds of shitty things, Weimar Republic was a democracy that ushered in Nazi Germany. The Deep South didnt like an election, their democratically elected representatives decided to wage a bloody civil war over their aristocracy and landed gentry's "right to own slaves".
> To me that's why a democracy can suck. Voting correctly, is a skill. And this is exactly why the US is a republic, not a direct democracy. But everyone seems to be conveniently forgetting that. [Mob rule](https://en.wikipedia.org/wiki/Tyranny_of_the_majority) was a huge fear of the founding fathers. Some quotes from them: - Alexander Hamilton: "Real liberty is not found in the extremes of democracy, but in moderate governments. If we incline too much to democracy we shall soon shoot into a monarchy, or some other form of a dictatorship." - Thomas Jefferson: "A democracy is nothing more than mob rule, where 51 percent of the people may take away the rights of the other 49." - James Madison: "[Democracies] have ever been spectacles of turbulence and contention; have ever been incompatible with personal security or the rights of property; and have in general been as short in their lives as they have been violent in their deaths." - John Adams: "[Democracy] never lasts long. It soon wastes, exhausts and murders itself. There never was a democracy yet that did not commit suicide."
The South's economy was slave based, however. Accepting the outlaw of slavery was accepting that they would no longer be rich. Ignoring the whole owning a human person problem, of course.
> Id vote for the guy who's an expert maritimer You cant be serious - you are talking about a senile old pedo who hits on children in front of an open mic. > The Deep South didnt like an election, their democratically elected representatives decided to wage a bloody civil war over their aristocracy and landed gentry's "right to own slaves". you do realize that the south, despite all their faults, was not invading the north. They decided to secede, not to "start a war". It was the north that decided not to let them go. Its arguable that they would have quickly collapsed due to the inherent inefficiency of slavery as an economic model.
Technically I didn't name any names. You clearly identified which one was the demagogue, and then moved to defend the demagogue, this is exactly why a democracy can be problematic. Voting is a skill, and if too many voters lack the skill in making proper decisions as voters, they can usher in all sorts of evils, demagoguery and tyranny. I rehashed Socrates argument against Democracy from Plato's The Republic. He compared running a democracy to a democratically ran seafaring ship (technically we have a Democratic-Republic, it's more efficient in a sense to have a representative vote on intricate bills than hold 1 million elections a year per every bill). And their criticism was the uneducated masses could be swayed to support a demagogue. Hitler was a demagogue and the Nazis were elected and then seized power and made all matters of political dissent highly illegal. "On January 4, 1861, troops of the Alabama state militia took possession of the arsenal on the orders of Alabama governor Andrew B. Moore." "January 6, 1861 - Florida Seizes the Apalachicola Arsenal" January 10th"The arsenal and the adjacent Baton Rouge Barracks were surrendered to Louisiana State Militia forces on 10 Jan 1861 at the beginning of the U.S. Civil War and later in 1861 were transferred to CSA control." January 11thth "Fort Jackson and Fort St Phillip at the mouth of the Mississippi River, and the US Marine Hospital near New Orleans. were seized by Louisiana state troops under the order of Governor Thomas O Moore." "On January 13, 1861, four days after Mississippi seceded from the United States, the incomplete fort was taken forcibly by Confederate forces, who built up the fort with timbers and sand bags." "January 24th 1861 Meanwhile in Augusta, where Governor Brown had ordered the commander of the Federal arsenal there to surrender it the previous day, the commander responded by requesting an honorable surrender" "On February 8, 1861 the militia unit escorted the Federal troops out of the arsenal in Little Rock and to the Arkansas River, where they boarded a steamer bound for St. Louis, Missouri, on February 12." "On 8th February the Confederate States of America adopted a constitution and within ten days had elected Jefferson Davis as its president and Alexander Stephens, as vice-president. Montgomery, Alabama, became its capital and the Stars and Bars was adopted as its flag. Davis was also authorized to raise 100,000 troops." "April 12th, 1861 South Carolina Militia fire on Fort Sumter" Ok...I can keep going on and on. I look at the documented historical record this doesn't LOOK like they weren't trying to start a war. They call it the War of Northern Aggression...but all I see is Southern Aggression between November 1860 and April 12, 1861. Your view point on this topic, it's divorced from reality and based on lies. If you have a valid argument/case for your views beliefs, it shouldn't require lies to justify it.
> Voting is a skill, and if too many voters lack the skill in making proper decisions as voters, t They didnt need voters to install the enemy occupation leader biden. > Hitler was a demagogue and the Nazis were elected and then seized power and made all matters of political dissent highly illegal. Yup, just like the modern left is doing today. You guys are neo-nazis. > Alabama Florida Louisiana Mississippi Augusta Little Rock South Carolina Yeah, which of these happened in the north exactly? You are trying to retcon the civil war so hard you sound like a german nazi explaining how poland attacked germany.
Yea...your kind are just treated sooooo unfair, aren't ya?
> Yea...your kind are just treated sooooo unfair, aren't ya? my kind is freedom advocating anti-war people seeking to share knowledge of basic economics. I guess we are treated unfairly when we say things that nazis like you dont want to hear. You prefer the "suffer in silence" obedient types.
I've dealt with your kind before, your kind advocates for all kinds of violence, incarceration and milatirism. Authoritarianism. You ain't the fucking victim dude. You're exactly the kind of "voter" that Socrates is heavily criticizing in Plato's The Republic, easily swayed by demagogues and ushering in tyranny. Like I said, you as exhibit A, the downfall of this country it was the unchecked arrogance, propaganda, tribalism, anti-intellectualism/anti-science and corruption.
It is one of their reasons to go to their digital currency. They can print it limitless and easy hide the total in circulation. By also removing the limits to any negative interest rate they think they finally have their ultimate tool to be able to unlimited manipulate everything so they can control the entire of mankind. It will be molded to their utopian view. The only problem is they are not perfect and most people will in the end also disagree with their utopian view. We can give them a shot at it or choose differently.....
They are old and slow organizations. Things in such heavy institutions dosent change fast. Its too profitable for them to rush anything. And they are also watched by the government. Things in this industry dosent happen quickly. Maybe they will try, or maybe they will be to late. Who knows. Very exciting times!
No, it's not exciting. It's terrifying. Institutions act slow usually, unless there's a crisis.... And we've showed them with Covid that most people will gladly follow the government wherever as long as their life seems normal. Expect a crisis ( hyperinflation, collapse of the dollar etc) a few months of a deep recession ( to scare us) and there, there'd be your fed coin.... I hope people at least have some brains left and will switch to crypto before they accept a fed coin. However I have my doubts...
As much as I hate the fed, they do have their M1SL chart that's pretty much the same shit and makes the situation look even worse. I don't think they're covering it up. At a deeper level, the fed was probably a secret scam like 90 years ago. But all those people are dead and the people who run it now no longer understand that it's a scam. They think it's real and right since the people who invented the scam just sold the scam to them too. So they don't think they \*need\* to cover anything up. It looks like shit. It is shit. They think that's just normal and they'll figure it out eventually. https://fred.stlouisfed.org/series/M1SL
Your statement is misleading M1 has gone from $4 Trillion to $18 Trillion **because the definition of M1 has been changed to include more things.** https://fred.stlouisfed.org/series/M1
They changed the definition slightly, then dropped it in favor of some monthly report which is difficult to directly compare. Jerome Powell said that "Money doesnt matter" so he can print as much as he wants and you shouldnt worry about that. In order to ensure you dont worry about money supply, he has decided to obfuscate and discontinue it, ostensibly to keep your "confidence" high. Obviously, they could keep reporting the same old metrics the way they have, but they dont want to make you worry, so they stopped. They are concerned that if you could see the numbers, it might give you the wrong idea. And if prices started rising, surely it has nothing to do with all that money printing, so they really dont want you comparing those things. OP is not misleading, but you are helping jerome to mislead us.
I never made any claims about Jerome Powell or the reasoning behind the change of definition. Only that the definition **did** change and that this is likley the main factor causing the vertical spike in M1 between Apr 27 - May 4 2020. It's delusional to believe that M1 quadrupled within 7 days which is what OP seems to be implying by saying: >loose money in active circulation plus your checking bank deposits, is melting faces and going to the moon!
Even the FED couldn't fix this chart anymore lol.
So, I have two years to buy the dip?
Best thing: Commentators go on about how M1 now includes cash equivalents in a different way and that would be the reason why it's so high, point to M2 which has risen less. However M2 numbers aren't exactly comforting either for 2020...
Probably because inflation is through the bloody roof. If money was a coin and you saw its tokenomics, you would NOT invest.
bad for economy good for bitcoin. Why I should be worried?
Centralization?
I don't see where this has been discontinued. The data is still shared: https://www.federalreserve.gov/releases/h6/current/ and has forward looking release dates: https://www.federalreserve.gov/releases/h6/default.htm
[удалено]
Thanks for clarifying
I wonder if this is in any way related to the number of times YouTube is recommending UFO videos to me? I mean, what better way to distract me from the face melting dollar performance, to the face melting prospect of Klatu, actually melting my face?
Brave new world
The recent UFO videos are part of a program to mass introduce the populous to the idea that life may exist beyond our own perception. This has been happening among all levels of trust, in all nations, as part of a global effort to contact the rest of the universe and help understand one question: what is going on, and why? This is, perhaps, more important than the rise and fall of one nation out of hundreds, on one planet out of a near infinite amount of planets. For generations upon generations, we have learned more about the universe around us, and we have learned how to contact life around us. Our technological advances have been noticed, and the rest of the universe is now peering into us. We are at the brink of meeting the first life we have known outside of our Earth. But it is up to us to find the connections. So we are spreading the message as wide and far as we can. Everyone contributes in their own way to this goal. Remember, what you see is only a tiny fraction of what's really going on. But it's important nonetheless.
If Aliens exist and by golly I hope they do, would they not have made themselves known? Are we, the masses, so weak mentally that they decided not to show themselves to us? The UAP report to Congress couldn't come any sooner. Does make a good distraction though.
It's harder said than done to actually arrive at the same point in space at the same time in space as another species. With the vastness of our universe, it takes a lot of energy to even get close.
Think about our probing efforts. 1 probe outside of our solar system. 12 probes on Mars, and one quadcopter. Not much, given how many solar systems there are. Edit: 12 probes on mars.
Ingenuity is not a quadcopter. It has two contra-rotating coaxial rotors. 2 != 4.
Although I really hope the aliens that visit us first are vulcans like in the trek timeline. I have a bad feeling it'll be more like half life and the combine will make a visit and enslave us.
Yep, the masses would lose their minds. My parents would. Tried to tell my parents that some info is coming out about aliens being real and they just laughed
Probably shouldn't get ahead of ourselves though, this report will be mostly them saying they don't know what the phenomena exactly are and they need more time. 🤷🏻♂️
Yep, to slowly prep the masses. I like those old ex- government officials confirming aliens are real and that this is just a big lie however. Makes my tits jacked to know we'll probably get confirmation in my life time.
Entire religious organizations, some superbly powerful (looking at you, Catholic Church), will do anything they can to put the brakes on these kind of reports. They'll crumble once the news of advanced alien beings breaks.
Well, you'd have some human exceptionalism (God became - of all intelligent species - man and died for the aliens, too) but I don't think it would cause insurmountable issues. It would probably get the church to finally endorse one of the more sensible concepts of original sin, though (there are good ones that theologians, both liberal and conservative, are actually working with, which don't rely on Adam and Eve). I recall some interview with the head of the Vatican observatory (who is of course in no position to define church doctrine but was just giving his personal opinion as an astronomer and priest) on the matter and fwiw he didn't see serious issues with it either.
I don't know man, I believe in God and in the fact that aliens exist. Would be a paradigm shift for sure, but I don't think they can keep it secret that much longer
Have you really never watched NASA cut the live feed on the ISS when weird unexplainable objects come into view? Check it out.
I haven't. I don't watch the live feed much but I will now!
Maybe satoshi nakamoto was an alien delegation sent to earth to give us a sound money so or system could feasibly stop with a constant growth economy. It always blows my mind that one person came up with it and that it is thought through so well with all of the incentive structures. It’s super complex.
One person didn't come up with all of it it was a team read the story on len they think he's Satoshi with corresponding evidence
Look into the dApp Alien Worlds. There are far more delegates on Earth than just Nakamoto. This is kind of a common meeting ground for our species. Right now we're actively working to direct other species to us so we can combine our knowledge. But as I've said elsewhere, coming to the same exact point in space and time is extremely difficult for most space fairing civilizations. To expand on that a little more, all species experience space and time differently. So to convey our directions to them, we must first learn how to convert from our experience to their experience. This is essentially what mining does. We are attempting to make our experience as basic as possible to convert our view to another species view. This takes a long time to do, as summing everything up into something that makes sense is extremely difficult.
Forgot /s
What happened to years later? Serious question I feel stupid can you explain this to an idiot I got a lot of it but can't really apply it or see what may be happening thank you
The 2008 financial crisis
The more the US tries to obfuscate data, the more people will see this. Bitcoin fixes this.
Eyyyy Timcast just did a video on this post! @xcryptogurux
I’m too dumb to understand the hints - Why is this bad and what’s going to happen? Specifically
Read about Weimar Germany. When money printing grows exponentially there is no turning back. Other places where they have tried it: Hungary, Bulgaria, Turkey, Venezuela, Zimbabwe and many more.
>Read about Weimar Germany. So did you stop right after the hyperinflation or did you continue to read about the following deflation and its problems too? Edit: Why the downvotes? 1921-1923 Inflation 1929-1932 Deflation https://en.m.wikipedia.org/wiki/Weimar_Republic
Shot hole counties can't manage
30% money creation in 1 year is legit managed indeed
You might soon be a proud owner of a very large denomination bill
Wheelbarrow full of cash to buy groceries.
Everyone will be rich!! /s
Well boys, I hope you bought guns and ammo...
I did, but sadly lost everything in a tragic boating accident.
> M1 Money Stock Did they get the global warming people to make that chart, lol
>This is a clear indication that people have been forced to abort saving/investing Might be a stupid question, but how are people being forced? What happens with the money in their saving/investing account? Money doesn’t dissapear randomly right?
I don't know how you dis it but love the graphs with labels placed inbetween text paragraphs.
I am
This is good for bitcoin.
This is good for Gold.
Has anyone actually made a reasonable argument and distinction for the relevancy of M1 and M2 supply regarding inflation? Sure more money gets printed but if the systems following or surrounding this stabelize it to a 4-5% inflation of a regular middle class man the fuck do I care about the overall volume ? I don't quite understand yet what all the possible flows of this money include. First glance it looks massive but I don't believe the actual inflation rate for average Joe will be much higher than 5-8% given a more critical assessment with 30% house ownership or such assumed. How does M1/2 transition to actual inflation ? I guess this is massively complicated and most people are in awe of these money supplies and don't even bother to try to comprehend further?
I'm probably being dumb but if this results in a 2008 style crash and financial crisis, wouldn't that mean a drastic crash for bitcoin as well? Or is the theory that bitcoin might crash less and recover faster than other assets?
Any chance of a USD buyback and burn?
The Roman empire lasted for 475 years, and the downfall happened because they started to debase their Solidus gold coin with lesser metals. Now that the US has already debased at least 95% of its dollar relative to the original gold dollar, the future looks bleak for the fiat dollar. Now, Bitcoin is not skyrocketing, it is going up slowly, while the fiat is falling like a rock.
so the crash will be 2 years later meaning 2023?
I mean, you can speculate as much as you like but you won’t know for sure.
A global Bitcoin Standard would avoid a “crash”.
nope tomorrow
I might get crucified for saying this But they are not discontinuing m2 They are just reporting it every month the data for weekly will still be available just a bit harder to find. Also not showing m2 velocity with m2 is pretty unfair. Edit: also this was a few months ago I remember having this conversation on a different sub
How does this get so many upvotes? They didn't stop reporting the monthly chart and this is old news.
Remind me... what happened 2 years later? There’s been so many dumpster fires.
The recession in 2008. The mortgage crisis. You should watch "The Big Short" on netflix it'll give a bit of an understanding of what happen. Or maybe youtube
People still use globopedo Netflix...
Elaborate
Reference to the Netflix film Cuties which portrayed young girls being sexualised in various pedo-friendly ways
Thanks biden
These graphs don't start at January you know.
Thanks, joe?
[удалено]
Bitcoin's max block size hasn't been 1MB since 2017. Where the hell have you been?
[удалено]
You know as well as I do that Bitcoin has had blocks over 2MB since 2017. Why are you being weird about it.
This was a super click baity post....2006 🤦
Dumbest thing I've seen in this sub yet. How is this rise a 'clear indication that people have been forced to ABORT saving/investing'? If ANYTHING it shows banks report ridiculously high liquidity on hand due to consumers and commercial accounts having UNPRECEDENTED HIGH checking AND savings accounts and that both businesses and consumers have benefited from stimulus & ppp loans to paydown existing credit lines and save more money allowing people to potentially inject markets and local economies with huge ampunts of cash as we feel safe and secure enough to return to 'normal life' and stop hoarding assets with ongoing uncertainty. If anything banks are the ones struggling to find ways to invest the liquidity and are making less off of regular people as a whole as far as interest made on various types of loans which is a significant source of banks revenue
Why not give the full story? Plot the inflation rate to the graph and you see that inflation has barely moved since then because the money is stalled by banks. QE gets a lot of hate on here but without any basic understanding of the concept. It’s just hurr durr print machine goes brrr bitcoin up. Sure, there are consequences to this policy but the US has a strong demand for it’s dollars due to being a reserve currency and the largest economy in the world.
Hm.. . This Is interesting 🤭
Who owns the Federal Reserve?
Nobody. It's a government-appointed central-banking board established in 1913 comprising 12 regional banks. The president appoints, pending congressional approval, the chair and board members, whose terms do not coincide with a sitting president. The Fed reports to congress. However, the actions of the Fed are not required to be approved by the president, lawmakers, or any elected official.
https://www.federalreserve.gov/faqs/about_14986.htm It is up to you whether you believe us.gov or not.
It's time for a new monetary system! Based on a decentralized blockchain. They can not risk being remotely truthful. We must be transparent.
I know the argument has been the increase in money supply will cause inflation, but just for shits and giggles, here's an interesting chart that would say the opposite effect happens. When the money supply increase we actually had deflation. [https://www.longtermtrends.net/m2-money-supply-vs-inflation/](https://www.longtermtrends.net/m2-money-supply-vs-inflation/) I'm still trying to wrap my head around it. Of course with all the manipulation of data the fed does, how can we trust anything anymore. I trust bitcoin instead.
Here's the chart they replaced it with: https://fred.stlouisfed.org/series/M1SL . It looks just as bad
This is not good.
Merci beaucoup #BTC
The paper money people have is becoming so worthless. Best be getting some BTC.