/biz/ - Business & Finance

yeah sure

>>14265951
>>14265975
Nope. Post-scarcity society through advanced AI means no need for currency

>>14265982
go back to your scifi comics virgin

>>14265951
Yes, the Keynesians have been running things into the ground for far too long.

When did the fucking gold shills take over

>>14265951
No. We should instead move towards MMT.

>>14265951
No, XRP is the standard now.

>>14265987
It's okay. you won't have a job in 20 years because computers will be able to do what you do but 1000 times better. Don't get your panties in a bunch about it, it's a good thing.

>>14265951
>>14265988
>>14266070
on that note, let's keep mining gold. We need more material for computer circuits

>t. Study AI

>>14266070
https://www.youtube.com/watch?v=wNbwkjPer6k

>>14265951
we are on the oil standard now. Fuck this clown world economics bullshit.

>>14265951
No, because the gold standard still allows fractional reserve banking, which got us into this mess in the first place.

>>14265951
>Give Goldman Sachs and DB full controll over the money supply
Fuck, even the FED would be a better alternative. The faith of a dying institution, try to go back and fuck it up even more

>>14265951
No i enjoy being fucked by inflation and seeing properties become so unaffordable that we may as well be a feudal society now.

>>14266070
I see you clearly know nothing about robots or technology.

nope

>>14265951
no; asteroid mining will render gold/silver obsolete as stores of value in 10~20 years

bitcoin is the only reasonable candidate for a future hard currency because it's universally valued and mathematically scarce

>>14266874

>>14266874
Yeah right...Asteroid mining. Soon!

>>14265951
you should definitely read this https://www.amazon.com/Covert-Wars-Breakaway-Civilizations-Celestial-ebook/dp/B00E3DZK3C

turns out the Nazis and Japs collected a bunch of gold and then issued counterfeit bearer bonds on the gold and so basically the entire market is soon to collapse

>>14266874
>10~20 years
More like 40-50

>>14265951

Dead metal standard?
Nope.

Bitcoin standard where people and free market decide the standard (decentralized).

>>14265982
>Post-scarcity society

LMAO found the deluded commie cuck

>>14265951
No goy, you definitely do NOT want any type of hard commodity backing your currency. No no no, no. It's a very VERY bad idea!! Only boomers and schizos want sound money, now go back to sleep.

>>14265951
No.

We need a great reset which can only come through all fiat currencies collapsing
When everything is settled and rectified, it can be brought back

>>14265951
It’s already back, if you want to use it. Goldmoney.com

>>14265951
A series of rhetorical questions:

what's wrong with fiat currency?

who implemented fiat currency, and controls its printing and issuance?

Who owns the media that's been pushing the least in society to hoard gold, artificially driving up the price?

Who owns the actual meaningful supplies and production of gold?

What might those persons' motives be for pursuing those goals?

What might those persons' reasons be for supporting a gold standard?

>>14268241
The reset is re-valuing gold overnight to 20-100k per ounce to purge all the debt from the system.

>>14266874
>universally valued
by the whims of fallible humans who can be goaded on or spooked away by putting the right words into the magic box that they use to tell them what to think.

>>14267820
>muh free market
The invisible hand is controlled by whoever has the best propaganda.

>>14268206
large numbers of commodities formerly governed by real scarcity now only suffer artificial scarcity engineered by the "freedom" of Freidmanism. There's no valid reason, for example, that America cannot feed every American. Indeed we spend billions and billions feeding everyone else, people who hate us, people who will grow up to overrun our borders; but when the question of feeding Americans comes, klaxons blare "COMMUNISM!!!!!!!"

>inflation is bad

>>14268492
Inflation is destruction of wealth

>>14268562
no sans person keeps their wealth in currency. money isn't an investment, it's a medium of exchange.

>>14268579
>no sans person keeps their wealth in currency
99% of the population does

>>14268635
i'm pretty sure that more than 1% of the population owns their hoise/apartment or a retirement fund.

>>14268579
Wrong, you don't understand what money is.

It needs to be
1) a medium of exchange
2) a unit of account.
3) a store of value

Inflation removes the third property, which means you just have a currency and not actually money.

Inflation is a stealth tax, and is indeed a form of systemic theft.

>>14268649
Define owning. I am certain that only the bank is owning shit nowadays. The clear majority is deep in debts.

>>14268678
inflation reduces the impact of debt. deflation, on the other hand, makes debt worse. if you owed the bank 100k, you'd prefer a constant devaluation of money to reduce the real value of your debt.
>>14268671
name me one (1) relevant economist who says that money should be a long-term store of value. and no, randian memelords don't count.

>>14268730
and what about your savings? and what if wages are not rising to match inflation? what about the purchasing power of citizens??
thats the problem with inflation, it actively encourages consumerist debt slavery

>>14268730
LOL yeah (((Economists))) have redefined the definition of money to purposely exclude the store of value part, in order to protect the central banking ponzi scam that keeps them in power.

This is EXACTLY how the Jews fleece the goyim. Just pay certain profile economists to enforce a new ideological orthodoxy and brainlets like this guy can use appeal to authority as an argument for why you should allow yourself to robbed, invaded, taxed or killed or whatever they feel like really.

>Ackshully racism means prejudice PLUS power. Only white people can be racist per this new definition. This what all sociology and minority studies professors agree on.
>Ackshully diversity is our strength. All academics agree. If you disagree you are a nazi.
>Ackshully 97% of climate scientists agree on Global Warming™. Anyone who disagrees is a heretic by default and therefore not included in our statistics.
>Ackshully all economists agree that money is meant to be worthless paper backed by nothing and debased endlessly by central banks. Only schizos want sound money.

Neck yourself.

>>14268730
only unpredictable inflation or deflation changes the effect of credit amounts, retard

No, not now. The central bankers have stockpiled the vast majority of the world's gold reserves in their private vaults, any country that does something that stupid will be immediately bought back by those bankers the same day and punished for their insolence. The gold they buy the country with will then be siphoned back to their vaults ala Fort Knox, and the final state of the country will be worse than if they'd done nothing.

>>14268842
>and what about your savings?
most of my savings are in stocks. like 20% of my net worth is in liquid money. anyone who isn't retarded does the same thing.
>and what if wages are not rising to match inflation?
blame mass immigration, not inflation. inflation didn't reduce the value of your labour, globalization did.
>what about the purchasing power of citizens??
that's just a synonym for "wages".
>thats the problem with inflation, it actively encourages consumerist debt slavery
inflation doesn't force you to take out 13% interest loans, it just makes it easier.
>>14268890
that's (sort of) true, but a sudden reversal of inflation would obviously massively increase pre-existing debt.
>>14268865
it's impressive how you managed to type out this wall of text without including a single argument.

>>14268865
Please return to your containment board sir.

>>14265951
>Should the Gold Standard be brought back?
NO, The reason we can fund all these roads/gov spending. With gold the amount of funding is limited to what can be extracted over a given period.

To solve our financial issues, The gov simply needs to start issuing funds it self instead of 'borrowing' (it never gets paid back) at interest.

>>14268730
Dude the fact that it imposes the recycling of monies through inflation would be ok on a national scale but most nations that want to take part in international trade nowadays need to use USD and reserves gross are held of about $5-10T of an asset that loses value year over year. Beyond that, it's good for debt to be that way, otherwise you encourage reckless governments and dumb individual spending. Much better to determine interest just based on risk rather than also taking into account beating inflation.

All that being said, BTC can never replace USD or gold. It's literally just some shit on a computer, but while some interesting tech might come out of blockchain, it's not going to revolutionize how we see money.

>>14268972
Not an argument.

>>14268340
This

>>14265951
Richard Nixon did promise in the 70s that the gold standard decoupling was only temporary. But I think we all know it won't come back.