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Author Topic:   Testing The Financial Apologists
Phat
Member
Posts: 18262
From: Denver,Colorado USA
Joined: 12-30-2003
Member Rating: 1.1


Message 208 of 328 (909515)
04-05-2023 4:01 AM
Reply to: Message 163 by Theodoric
01-05-2023 8:12 AM


Re: Trump Card
Theodoric writes:
Make a valid argument with legitimate sources.
Perhaps you can fact check my sources. They seem legitimate to me.

China and Brazil reach an accord to trade with their own currencies, avoiding the US dollar
Saudi Arabia and China will align on everything from security to oil, but agree not to interfere on domestic issues

This message is a reply to:
 Message 163 by Theodoric, posted 01-05-2023 8:12 AM Theodoric has replied

Replies to this message:
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Phat
Member
Posts: 18262
From: Denver,Colorado USA
Joined: 12-30-2003
Member Rating: 1.1


Message 211 of 328 (909606)
04-06-2023 3:24 PM
Reply to: Message 210 by Tanypteryx
04-05-2023 12:41 PM


Re: A Damselfly In Distress
Tanypteryx writes:
Still waiting for YOUR solution.
Sometimes one has to swallow the bitter medicine. The US public at large will suffer together during this next Depression.
With God's grace, we will get through it.
And we may see a bit of political revolution as well. May as well clean house thoroughly.

This message is a reply to:
 Message 210 by Tanypteryx, posted 04-05-2023 12:41 PM Tanypteryx has replied

Replies to this message:
 Message 212 by Tanypteryx, posted 04-06-2023 3:32 PM Phat has not replied
 Message 213 by Tangle, posted 04-06-2023 3:47 PM Phat has replied
 Message 216 by Tanypteryx, posted 04-07-2023 2:14 PM Phat has replied

  
Phat
Member
Posts: 18262
From: Denver,Colorado USA
Joined: 12-30-2003
Member Rating: 1.1


Message 214 of 328 (909640)
04-07-2023 11:29 AM
Reply to: Message 213 by Tangle
04-06-2023 3:47 PM


Re: A Damselfly In Distress
What does forecasting an economic depression have to do with the apocalypse? You claim to be a financial guy, yet you obviously have your head in the clouds.

This message is a reply to:
 Message 213 by Tangle, posted 04-06-2023 3:47 PM Tangle has not replied

Replies to this message:
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Phat
Member
Posts: 18262
From: Denver,Colorado USA
Joined: 12-30-2003
Member Rating: 1.1


Message 218 of 328 (909810)
04-11-2023 3:33 PM
Reply to: Message 217 by Theodoric
04-11-2023 2:24 PM


Re: US dollar vs BRICS currency
Whats your point? The dollar will remain "strong" until its not. And that will be sooner than you think. I know I know...you will ask me for "proof" and data...and there is plenty of talk out there, but I think that the Dems and their loose alliance to help Ukraine are all thats left of the Western Alliance that used to be NATO. The first mistake was weaponizing the dollar and threatening sanctions against whomever did not march to the Western drummer. Iran, Iraq, Russia, and others.
Everyone knows that a global reserve currency should not be used to punish people or nations...it should be impartial. You all ignored that advice and now an increasingly long list of nations are beginning to consider alternatives to the US Dollar. (The inflated US Dollar which is worth 90% less than it was in 1944 in terms of purchasing power) In 1944, Breton Woods established the US Dollar(backed by Gold) as the primary global reserve currency. Nixon decoupled the dollar from the gold only because other nations were demanding to be paid in gold rather than dollars due to inflation due to the Viet Nam war, among other things.
Follow the politics. Nixon, (a Conservative) said that the arrangement was temporary. Ford, (a Conservative) made it legal to own gold and other precious metals in 1974. After that, the Liberals decided to go permanently with the fiat money system globally since (as you guys naively claim) there is not enough gold to back the dollars. Yet you have it all backwards. The Gold always backs the dollar. The dollar never gives gold its value. Gold has been the standard that backs money for 5000 years. Gold IS money. The error of the progressives of the world is that they believe that people back the value of anything and everything, forgetting that people never agree...thus the value is in question. You will see this shift in value within the next 5 years at the very latest.(I personally see it happening sooner) and the gold, counter-cyclical to the US dollar will reclaim its global throne of value. The BRICS nations wisely know this to be a fact.
The Dollar will get dumped globally as everyone of any consequence gets on board the new alliance. I'm not saying that we will become allied with BRICS..but we will acknowledge their newly acquired global reserve status. (Likely there will be a basket of currencies that share global reserve status, but the dollar will no longer be the primary one)
The reason, again, is because we inflated our currency and that is a boneheaded move. That is the duping that I am trying to explain to Damselfly.
And frankly, I don't care if all of you laugh at, ridicule, or even ignore my case. I will be right on this one.
Need more proof? I will share it as I find it.

This message is a reply to:
 Message 217 by Theodoric, posted 04-11-2023 2:24 PM Theodoric has replied

Replies to this message:
 Message 221 by Theodoric, posted 04-11-2023 4:05 PM Phat has not replied
 Message 222 by Tanypteryx, posted 04-11-2023 4:42 PM Phat has not replied
 Message 223 by DrJones*, posted 04-11-2023 11:07 PM Phat has replied

  
Phat
Member
Posts: 18262
From: Denver,Colorado USA
Joined: 12-30-2003
Member Rating: 1.1


Message 219 of 328 (909811)
04-11-2023 3:39 PM
Reply to: Message 216 by Tanypteryx
04-07-2023 2:14 PM


Re: A Damselfly In Distress
Tanypteryx writes:
So, what do you figure God is going to do, make more gold, do away with fiat money, pay off the debt, give you money...what?
God will give the Western people the grace to accept their mistake and to rebuild...being suddenly very poor. The debt will likely be inflated and renegotiated. And I will be as broke as everyone else.

This message is a reply to:
 Message 216 by Tanypteryx, posted 04-07-2023 2:14 PM Tanypteryx has replied

Replies to this message:
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Phat
Member
Posts: 18262
From: Denver,Colorado USA
Joined: 12-30-2003
Member Rating: 1.1


Message 224 of 328 (909907)
04-12-2023 10:10 PM
Reply to: Message 223 by DrJones*
04-11-2023 11:07 PM


Re: US dollar vs BRICS currency
And what is NATOs position regarding Communist China?
Start here: NATO’s Pivot to China: A Challenging Path
CSIS:
Even though China does not pose a direct military threat to NATO, contrary to Russia or terrorist groups, Beijing’s growing economic influence and diplomatic assertiveness in Europe coupled with its growing military relationship with Russia do have major implications for the transatlantic economy as well as its security.
Chinese investments in critical infrastructure across Europe, from telecommunications networks to port facilities, could weaken NATO’s ability to respond to international crises diplomatically and, if necessary, militarily. China’s majority ownership positions in about 10 percent of all European port capacity and its investments in civilian roads and rails in Eastern Europe potentially complicate NATO’s military mobility and readiness in a crisis situation. Similarly, if some allies include Huawei equipment in their 5G networks, questions about the integrity of their telecommunications would be raised given the close ties of the company with the Chinese Communist Party. Sensitive defense supply chains of allies can also be overly dependent on China, as recently witnessed with the F-35 fighter jets.
China’s military reach is also getting closer to the Euro-Atlantic region. The Russian and Chinese navies have conducted joint military exercises in the Mediterranean and Baltic Seas, signaling a burgeoning military cooperation between Beijing and Moscow. Collaboration between China and Russia grows stronger in the Arctic, where both countries invest in natural gas projects as well as in transport corridors as part of an effort known as the “Polar Silk Road” or the “Northern Sea Route.” Beyond the Euro-Atlantic area, China is developing modern military capabilities (long-range missiles, aircraft carriers, and nuclear attack submarines) with potentially serious security implications for NATO given their global reach. Likewise, China is investing in counter-space weapons that could potentially threaten any NATO satellite. Allies are also regularly the targets of cyberattacks originating from China-based hackers.

There has even been talk that, if Ukraine begins gaining ground, China will sell military equipment to Russia.

This message is a reply to:
 Message 223 by DrJones*, posted 04-11-2023 11:07 PM DrJones* has replied

Replies to this message:
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Phat
Member
Posts: 18262
From: Denver,Colorado USA
Joined: 12-30-2003
Member Rating: 1.1


Message 227 of 328 (909933)
04-13-2023 3:56 PM
Reply to: Message 223 by DrJones*
04-11-2023 11:07 PM


Re: US dollar vs BRICS currency
phat writes:
Likely there will be a basket of currencies that share global reserve status, but the dollar will no longer be the primary one
DrJones writes:
Phat you slack jawed yokel, the "loose alliance" IS NATO! NATO has actually expanded with the addition of Finland and soon Sweden.
The main reason that nations traditionally joined NATO was to assure protection. The United States was able to be the primary member who funded much of everything.
The point is, the United States, increasingly weakening financially, cannot be the prime mover any longer.
Look up how many nations are left committed to the G7.

This message is a reply to:
 Message 223 by DrJones*, posted 04-11-2023 11:07 PM DrJones* has replied

Replies to this message:
 Message 228 by Tanypteryx, posted 04-13-2023 4:15 PM Phat has not replied
 Message 229 by Theodoric, posted 04-13-2023 4:56 PM Phat has not replied
 Message 230 by AZPaul3, posted 04-13-2023 7:03 PM Phat has seen this message but not replied
 Message 236 by DrJones*, posted 04-13-2023 8:14 PM Phat has not replied

  
Phat
Member
Posts: 18262
From: Denver,Colorado USA
Joined: 12-30-2003
Member Rating: 1.1


Message 242 of 328 (910157)
04-18-2023 10:19 AM
Reply to: Message 241 by Theodoric
04-15-2023 10:25 AM


Krugman
I noted his information, but do not take it as truth....just informed opinion. We are in a war of ideologies and money itself is being tugged back and forth. One side wants government control of it while my side wants freedom to us it apart from what the government deems to be the standard

This message is a reply to:
 Message 241 by Theodoric, posted 04-15-2023 10:25 AM Theodoric has replied

Replies to this message:
 Message 243 by nwr, posted 04-18-2023 11:28 AM Phat has replied
 Message 244 by Theodoric, posted 04-18-2023 11:50 AM Phat has replied
 Message 245 by Theodoric, posted 04-18-2023 12:08 PM Phat has replied

  
Phat
Member
Posts: 18262
From: Denver,Colorado USA
Joined: 12-30-2003
Member Rating: 1.1


Message 246 of 328 (910274)
04-20-2023 1:26 PM
Reply to: Message 244 by Theodoric
04-18-2023 11:50 AM


Re: Krugman
Now I have more time to actually read with comprehension, rather than shooting from the hip and reacting in the one hour I have before work every day! Let me think about all of this before I respond. *sips coffee*
Theodoric writes:
As Phat likes to post links to videos from every random nutjob, here is an actual economist talking about the dollar.
In my defense, the people whom I listen to are not nutjobs. I will give ground to Krugman, however. (He even talks about two of them--Robert Kiyosaki and Peter Schiff.)
Krugman then goes on to provide a link to Whatever happened to the inflation “Weimarists”? (Dan Indiviglio from Reuters) which I read. This was a 2013 article.
quote:
Whatever happened to predictions the United States would soon experience Weimar Republic-like inflation? When the Federal Reserve kicked off its massive stimulus campaign, critics invoked this dark period of modern German history and its images of wheelbarrows full of valueless cash. Four years later, only the most stubborn hawks still fear such hyperinflation. Consistently low price growth has made Ben Bernanke’s easing look safe – so long as his exit works.
As the Fed began to pour trillions of dollars into the economy to calm the financial crisis and resulting severe unemployment, inflation alarmists issued dire warnings. Some prominent investors like gold bug Peter Schiff said current policy could put the nation on a path to the sort of hyperinflation suffered by the parliamentary democracy that Germany adopted in the decade following World War I(...)While the most vocal “Weimarists” should have found it humbling to be so wrong for so long, they’ve not disappeared. It’s just that the establishment no longer pays them any attention. PIMCO co-founder Bill Gross, for instance, recently went bullish on low-yielding 10-year Treasuries, implying he must not be very scared of higher inflation hitting any time soon.
So it would appear that recent history vindicates Bernanke. But as a modern economic historian, he’s smart enough not to claim “mission accomplished” yet. He has avoided inflation during monetary expansion – his exit must proceed with equal aplomb.

Now, we are seeing the ramping up of inflation, though even our "Weimarist" Schiff now sees disinflation happening rapidly while prices are still high. The money supply expansion since COVID has evaporated (according to him) and we are now poised between two extremes...more inflation or deflation. The FED is indeed navigating between two narrow cliffs and is searching for an exit.
Krugman also quotes Robert Kiyosaki: Robert Kiyosaki Says 'America Is Dying' — Warns of Hyperinflation, Death of US Dollar and I must admit, these articles are reflective of the "random nutjob" videos you claim that I listen to. A week ago when I accessed your link, I was in so much of a hurry that I reacted without having read the article or the links thoroughly.
Krugman then goes on to say:
NYTimes Opinion:
And today’s Weimarists have a new argument. Recently a number of countries, alarmed or maybe just annoyed by what they perceive as the weaponization of the dollar against Vladimir Putin, have been taking at least symbolic steps to reduce the dollar’s role in the world economy. For example, China has asked oil producers to accept payments in yuan instead of dollars.
This has even relatively sober commentators like Fareed Zakaria warning that the dollar’s status as the world’s reserve currency is at risk. And losing reserve-currency status, many people imagine, would be an economic catastrophe for America.(...)In reality, however, the dollar’s role looks pretty secure — with one major caveat. I have no idea what will happen if, as seems all too possible, we end up defaulting on debt payments because a Republican House refuses to raise the debt ceiling. But it’s not likely to be good. Who will trust the currency of a nation that appears to have politically lost its mind?
But if that happens, the threat to the dollar’s reserve-currency status will be the least of our problems.

Krugman does appear rational and has heard the same arguments that I have bought into.
The debt ceiling comment has me thinking. Some commentators have said that it is purely symbolic..and that the debt ceiling MUST be raised each time the issue comes up. I agree that only a clueless politician would challenge that necessity. I could only see the Republicans doing that in order to fight what they see as extremism regarding green energy versus hard asset energy such as natural gas and oil. That will likely be a major political talking point in the next elections.

This message is a reply to:
 Message 244 by Theodoric, posted 04-18-2023 11:50 AM Theodoric has not replied

  
Phat
Member
Posts: 18262
From: Denver,Colorado USA
Joined: 12-30-2003
Member Rating: 1.1


Message 247 of 328 (910275)
04-20-2023 1:31 PM
Reply to: Message 245 by Theodoric
04-18-2023 12:08 PM


Re: G7
My comments regarding the G7 were also reactionary, but they were based on Macron cozy-ing up to China and seemingly relegating the US to second place...a move which I saw ass a threat to future G7 stability. Make no mistake: China is not our friend...they are a hard nosed competitor who would have no problem upending our dominance. (regardless of how it hurts the US middle class)

This message is a reply to:
 Message 245 by Theodoric, posted 04-18-2023 12:08 PM Theodoric has not replied

Replies to this message:
 Message 248 by AZPaul3, posted 04-20-2023 1:36 PM Phat has replied

  
Phat
Member
Posts: 18262
From: Denver,Colorado USA
Joined: 12-30-2003
Member Rating: 1.1


Message 249 of 328 (910303)
04-20-2023 10:09 PM
Reply to: Message 248 by AZPaul3
04-20-2023 1:36 PM


Re: G7
Of course they do, but the Chinese Communist Party wont simply share the benefits equally. Thats why I support Shen Yun. They know all too well what the CCP is all about.
Don't tell me that your liberally brainwashed mind actually approves of Chinese Communism. Do some research.

This message is a reply to:
 Message 248 by AZPaul3, posted 04-20-2023 1:36 PM AZPaul3 has replied

Replies to this message:
 Message 251 by Theodoric, posted 04-20-2023 11:08 PM Phat has replied
 Message 252 by AZPaul3, posted 04-20-2023 11:12 PM Phat has replied

  
Phat
Member
Posts: 18262
From: Denver,Colorado USA
Joined: 12-30-2003
Member Rating: 1.1


Message 250 of 328 (910304)
04-20-2023 10:36 PM
Reply to: Message 243 by nwr
04-18-2023 11:28 AM


Re: Krugman
nwr writes:
Money is just a token that represents value. And value depends on the culture.
There is no "one" culture. A cultural group has an ideology within that group, but does not necessarily speak for ALL groups--even if they happen to be in power at the moment. Liberals might suggest that the value of the money is based on what voters want "it" to do. Conservatives may argue that the market determines the value. And the market plays no favorites. If we have a Trillion dollars in the till and your ideology mandates spending it on green energy, my ideology may protest that government is overextending its reach by socking everyone with a common bill. What if I cant afford a new electric car? What if I agree with green energy in principle but do not agree with the pace by which it is being implemented?
nwr writes:
A problem for conservatives, is that they tend to emphasize money itself, instead of understanding that it the represented value that is important.
And what if we don't agree on what we should spend it on or what is or is not valuable? It is not ever a group decision when it affects ones private funds above taxation.
And if anyone disagrees, how can you get mad at debt limit obstructionists who believe that eternally raising the debt limit is not in their best interests?

This message is a reply to:
 Message 243 by nwr, posted 04-18-2023 11:28 AM nwr has replied

Replies to this message:
 Message 257 by nwr, posted 04-21-2023 11:50 AM Phat has not replied

  
Phat
Member
Posts: 18262
From: Denver,Colorado USA
Joined: 12-30-2003
Member Rating: 1.1


Message 253 of 328 (910315)
04-21-2023 3:41 AM
Reply to: Message 251 by Theodoric
04-20-2023 11:08 PM


Re: Cult
You are as bad or worse than I am! You rapidly google one thing and if it agrees with your political views anyway, you run with it.
Shen Yun is not a cult.
Besides, I've heard that Leftism is a Cult!
6 Ways Leftism Acts Like A Religion
The Federalist:
Leftism is not a political ideology anymore. It is a full-fledged religion complete with tithing, penance, forced confessions, iconoclasm, internet inquisitions, public rituals, excommunication, heavily policed virtues, sacred texts, seminaries, and online auto-de-fes.
The proof is too plentiful to ignore. 

Here are the signs that we’re truly confronting a theocracy of totalitarian religious extremists.
  • Conformity, Strictly Enforced Virtues, and Excommunication
  • Inquisition
  • Sins
  • Penance
  • Public Ritual
  • Evangelization
    The progressive promised land is here now. This is our preview. It’s a hedonistic, puritan-fusion theocracy where you must be okay with the homeless shooting up or defecating on your street and be firmly committed to threatening people’s careers if they think all women are born with a vagina.(...)I do know, however, that I’m proud to be considered a heretic in their eyes.

  • See how easy that is?

    This message is a reply to:
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     Message 254 by Theodoric, posted 04-21-2023 7:40 AM Phat has seen this message but not replied
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     Message 256 by Theodoric, posted 04-21-2023 9:35 AM Phat has replied

      
    Phat
    Member
    Posts: 18262
    From: Denver,Colorado USA
    Joined: 12-30-2003
    Member Rating: 1.1


    Message 258 of 328 (910392)
    04-22-2023 7:29 AM
    Reply to: Message 252 by AZPaul3
    04-20-2023 11:12 PM


    Re: G7
    Why don't you just admit that you would be in favor of a one world government?

    This message is a reply to:
     Message 252 by AZPaul3, posted 04-20-2023 11:12 PM AZPaul3 has replied

    Replies to this message:
     Message 260 by AZPaul3, posted 04-22-2023 9:37 AM Phat has not replied
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    Phat
    Member
    Posts: 18262
    From: Denver,Colorado USA
    Joined: 12-30-2003
    Member Rating: 1.1


    Message 259 of 328 (910393)
    04-22-2023 7:35 AM
    Reply to: Message 256 by Theodoric
    04-21-2023 9:35 AM


    Re: Cult
    Theodoric writes:
    Falun Gong is literally a religion.
    Then again I can see that you would be attracted to a group that preaches racism and homophobia.
    Aside from deflecting us off topic as you accuse me of doing, you have never talked with any members of Falun Dafa. All that you have is data. And you also would not accept the answer that the CCP themselves spread misinformation. Just look at Wuhan!
    And for every Fox News that you throw at me, I can just as easily throw some of CNN's gaffes right back at you.
    For the record, I will agree that the evidence you have provided points to Falun Dafas public statements and those of its leader. Any leader should be questioned and critically examined.
    Maybe you should start with that appalling director of border security and his incompetence on the job that he swore to uphold.

    This message is a reply to:
     Message 256 by Theodoric, posted 04-21-2023 9:35 AM Theodoric has replied

    Replies to this message:
     Message 263 by Theodoric, posted 04-22-2023 12:20 PM Phat has replied

      
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