US dollar is about to collapse

[meow_meow]

15 hours ago, commie said:

anyone pushing mined currencies such as gold or bitcoin is actively hurting others regardless of how likely they are to collapse anyway...

If by "Hurting others" you mean putting those who believe and hold dollars in a disadvatage - then Yes you can scapegoat me and call me a bad guy. In the end of the day it's my money that I earned and I can choose what to do with my money, and I'm voting for bitcoin with my dollars.

[commie]

Are you really that clueless? Notice the word "mined". That's where the harm comes from, and this is serious harm that actually matters (nothing to do with the fleeting exchange value of money).

You are a bad guy but you aren't putting dollar holders at a disadvantage and this voting thing is a pathetic fantasy, as is the notion that you can choose to do what you want with this money you've reified.

I have been advocating against holding US dollars for decades and so I would of course welcome US dollars losing their exchange value. Only it's not going to happen and I'm not going to lie to people about that because in order to manipulate them.

Edited March 5, 2021 by commie

[Girzo]

Guy showing these graphs and saying "ooh, the money printer go brr look at all this debt, what a mess, they are destroying the economy" is a total bullshit and a sign that a person saying it lacks any serious economic education.

This debt is not really a debt like a kind of debt you take for a house or a car. It's just a fancy way of creating more money, many countries with big enough reserves and foreign trade could erase their debts in an instant if they wanted to (I am not sure if the US is that kind of country, probably yes), replacing it with printed dollars. So it's size alone is not a problem, you need to take other factors into consideration to judge wheter the sum of debt is making a negative impact on the economy.

Plus the stimulus checks won't cause high inflation or harm the economy in any way. They are helping, because people lost jobs and income. Without income they can't buy and pay for anything causing even bigger stagnation, so they need it. Printing money only causes inflation when a whole infrastructure is used at maximum efficiency (machines, trucks, factories, etc.), there is no more accessible resources (wood, metal, cement, oil, etc.) and everyone is in the workforce. Right now there is plenty of under-utilized infrastructur and plenty of jobless people, so printing money causes no harm.

The only bad thing about this Covid economy stimulus stuff is how it is distributed, a big portion of it going to big corporations, based on ideological position of trickle-down economics, which doesn't work in reality, causing income inequality to rise, because of companies holding the money in accounts instead of investing and spending. Which is obvious, why would you invest during a crisis when the future is uncertain? Trickle-down economy is such an idiotic postion.