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Author
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Topic: Phat Unplugged
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Percy
Member Posts: 23330 From: New Hampshire Joined: 12-23-2000 Member Rating: 6.1
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Message 541 of 571 (922720)
04-02-2025 7:57 PM
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Reply to: Message 540 by Taq
04-02-2025 6:08 PM
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Re: Full Faith And Credit
Wouldn't the dollar's value only drop relative to gold, not relative to goods? If before gold's up-value a commodity cost 1.0 ounces of gold or $3000, then after the up-value to $30,000/ounce that commodity would cost 0.1 ounces of gold but still $3000. --Percy
| This message is a reply to: | | | Message 540 by Taq, posted 04-02-2025 6:08 PM | | Taq has replied |
| Replies to this message: | | | Message 542 by Taq, posted 04-03-2025 10:50 AM | | Percy has not replied |
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Taq
Member Posts: 10450 Joined: 03-06-2009 Member Rating: 6.5
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Message 542 of 571 (922723)
04-03-2025 10:50 AM
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Reply to: Message 541 by Percy
04-02-2025 7:57 PM
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Re: Full Faith And Credit
Percy writes: Wouldn't the dollar's value only drop relative to gold, not relative to goods? Gold is a good.
If before gold's up-value a commodity cost 1.0 ounces of gold or $3000, then after the up-value to $30,000/ounce that commodity would cost 0.1 ounces of gold but still $3000.
First, the price of gold wouldn't change in other currencies. That's a problem. Second, this would essentially be printing money. The amount of gold hasn't changed, but all of the sudden the amount of money tied to that gold has increased by 10 fold. If everyone cashed in their gold then this would push a glut of dollars onto the market which would raise all prices.
| This message is a reply to: | | | Message 541 by Percy, posted 04-02-2025 7:57 PM | | Percy has not replied |
| Replies to this message: | | | Message 543 by Phat, posted 04-03-2025 11:57 AM | | Taq has replied |
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Phat
Member Posts: 18761 From: Denver,Colorado USA Joined: 12-30-2003 Member Rating: 3.5
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Message 543 of 571 (922724)
04-03-2025 11:57 AM
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Reply to: Message 542 by Taq
04-03-2025 10:50 AM
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Re: Full Faith And Credit
Taq writes: Gold is a good. Gold is a Tier One Capital asset according to Basil 3. It is more than a simple commodity. Wiki writes: Tier 1 capital is the core measure of a bank's financial strength from a regulator's point of view.[note 1] It is composed of core capital,[1] which consists primarily of common stock and disclosed reserves (or retained earnings),[2] but may also include non-redeemable non-cumulative preferred stock as well as physical gold held in vaults. Try filling a bank vault full of corn or oil.
Taq writes: First, the price of gold wouldn't change in other currencies. That's a problem. Second, this would essentially be printing money. The amount of gold hasn't changed, but all of the sudden the amount of money tied to that gold has increased by 10 fold. If everyone cashed in their gold then this would push a glut of dollars onto the market which would raise all prices. First, all other fiat currencies would also be affected. Second, not everyone would sell their gold. Why do you think that ALL central banks have been net buyers of gold? Because it IS a Tier One asset.
When both religious and non-religious people reach the same conclusions then you know religion isn't the reason.--PercyGod alone is God *but* God is not alone~Ellis Potter We see Monsters where Science shows us Windmills.~Phat, remixed
Critics would of course say that "God" is a product of human imagination...but then again God may well declare that all of creation is a product of His imagination! It is all in the perspective of the observer.~Phat
| This message is a reply to: | | | Message 542 by Taq, posted 04-03-2025 10:50 AM | | Taq has replied |
| Replies to this message: | | | Message 544 by Taq, posted 04-03-2025 12:15 PM | | Phat has replied |
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Taq
Member Posts: 10450 Joined: 03-06-2009 Member Rating: 6.5
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Message 544 of 571 (922726)
04-03-2025 12:15 PM
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Reply to: Message 543 by Phat
04-03-2025 11:57 AM
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Re: Full Faith And Credit
Phat writes: It is more than a simple commodity. No, it isn't. The fact that it can be safely held in a bank vault does not stop it from being a commodity.
First, all other fiat currencies would also be affected. No, they wouldn't. For example, hyperinflation in countries like Turkey, Egypt, and Argentina have not affected the US dollar.
Second, not everyone would sell their gold. Then what's the point of having gold? It's a handy paperweight?
Why do you think that ALL central banks have been net buyers of gold? Because it IS a Tier One asset. It wouldn't be an asset if they didn't sell it. The whole point is to exchange gold for fiat currency when needed.
| This message is a reply to: | | | Message 543 by Phat, posted 04-03-2025 11:57 AM | | Phat has replied |
| Replies to this message: | | | Message 545 by Phat, posted 04-03-2025 12:28 PM | | Taq has replied |
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Phat
Member Posts: 18761 From: Denver,Colorado USA Joined: 12-30-2003 Member Rating: 3.5
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Message 545 of 571 (922727)
04-03-2025 12:28 PM
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Reply to: Message 544 by Taq
04-03-2025 12:15 PM
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Re: Full Faith And Credit
The whole point is to exchange gold for fiat currency when needed. The whole point is to preserve the banks solvency IF the currency inflates or deflates. This strengthens my case that Gold backs the Dollar rather than vice versa. The Central banks will let inflation run to save the currencies. This may explain why some folks have mentioned an inevitable reset. They have two choices.
When both religious and non-religious people reach the same conclusions then you know religion isn't the reason.--PercyGod alone is God *but* God is not alone~Ellis Potter We see Monsters where Science shows us Windmills.~Phat, remixed
Critics would of course say that "God" is a product of human imagination...but then again God may well declare that all of creation is a product of His imagination! It is all in the perspective of the observer.~Phat
| This message is a reply to: | | | Message 544 by Taq, posted 04-03-2025 12:15 PM | | Taq has replied |
| Replies to this message: | | | Message 546 by Taq, posted 04-03-2025 12:41 PM | | Phat has replied |
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Taq
Member Posts: 10450 Joined: 03-06-2009 Member Rating: 6.5
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Message 546 of 571 (922729)
04-03-2025 12:41 PM
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Reply to: Message 545 by Phat
04-03-2025 12:28 PM
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Re: Full Faith And Credit
Phat writes: The whole point is to preserve the banks solvency IF the currency inflates or deflates. And what you are proposing would cause hyperinflation of the US dollar which would result in gold having the same purchasing power that it had before the increase in price.
This strengthens my case that Gold backs the Dollar rather than vice versa. Gold is a commodity like any other. The dollar is no more backed by gold than it is by soybeans, stocks, and real estate.
The Central banks will let inflation run to save the currencies. Central banks do the exact opposite. They raise interest rates to reduce inflation.
| This message is a reply to: | | | Message 545 by Phat, posted 04-03-2025 12:28 PM | | Phat has replied |
| Replies to this message: | | | Message 547 by Phat, posted 04-03-2025 12:49 PM | | Taq has replied |
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Phat
Member Posts: 18761 From: Denver,Colorado USA Joined: 12-30-2003 Member Rating: 3.5
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Message 547 of 571 (922731)
04-03-2025 12:49 PM
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Reply to: Message 546 by Taq
04-03-2025 12:41 PM
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Re: Full Faith And Credit
Taq writes: And what you are proposing would cause hyperinflation of the US dollar, which would result in gold having the same purchasing power that it had before the increase in price. It may end up being evil, but imagine how easily we could pay down our debt and strengthen the economy! At the cost of robbing the upper middle class...
When both religious and non-religious people reach the same conclusions then you know religion isn't the reason.--PercyGod alone is God *but* God is not alone~Ellis Potter We see Monsters where Science shows us Windmills.~Phat, remixed
Critics would of course say that "God" is a product of human imagination...but then again God may well declare that all of creation is a product of His imagination! It is all in the perspective of the observer.~Phat
| This message is a reply to: | | | Message 546 by Taq, posted 04-03-2025 12:41 PM | | Taq has replied |
| Replies to this message: | | | Message 548 by Taq, posted 04-03-2025 5:05 PM | | Phat has not replied |
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Taq
Member Posts: 10450 Joined: 03-06-2009 Member Rating: 6.5
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Message 548 of 571 (922732)
04-03-2025 5:05 PM
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Reply to: Message 547 by Phat
04-03-2025 12:49 PM
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Re: Full Faith And Credit
Phat writes: It may end up being evil, but imagine how easily we could pay down our debt and strengthen the economy! I am unaware of any country that has improved their economy through hyperinflation. Look at the struggles Argentina is currently going through. In fact, Argentina might be a good place for you to move. With inflation rates in the triple digits it doesn't take long for the price of an ounce of gold to increase 10x in Argentine pesos.
| This message is a reply to: | | | Message 547 by Phat, posted 04-03-2025 12:49 PM | | Phat has not replied |
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Tangle
Member Posts: 9697 From: UK Joined: 10-07-2011 Member Rating: 6.2
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Message 549 of 571 (922733)
04-03-2025 5:07 PM
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LOL US market suffers biggest one-day loss since 2020 published at 21:14 21:14 BREAKING Vishala Sri-Pathma Business reporter The US financial market experienced its biggest one-day loss since June 2020, the year of the pandemic. The Dow Jones tumbled 3.9%, the Nasdaq plunged nearly 6% and the S&P 500 was down 5% - its biggest decline since March 2020.
Je suis Charlie. Je suis Ahmed. Je suis Juif. Je suis Parisien. I am Mancunian. I am Brum. I am London. Olen Suomi Soy Barcelona. I am Ukraine. "Science adjusts it's views based on what's observed.
Faith is the denial of observation so that Belief can be preserved."
- Tim Minchin, in his beat poem, Storm.
| Replies to this message: | | | Message 550 by Phat, posted 04-04-2025 2:35 PM | | Tangle has not replied |
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Phat
Member Posts: 18761 From: Denver,Colorado USA Joined: 12-30-2003 Member Rating: 3.5
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Message 550 of 571 (922739)
04-04-2025 2:35 PM
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Reply to: Message 549 by Tangle
04-03-2025 5:07 PM
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The Art Of The Steal?
It's continuing today, too. Maybe the world is trying to hint that it does not need the United States...
When both religious and non-religious people reach the same conclusions then you know religion isn't the reason.--PercyGod alone is God *but* God is not alone~Ellis Potter We see Monsters where Science shows us Windmills.~Phat, remixed
Critics would of course say that "God" is a product of human imagination...but then again God may well declare that all of creation is a product of His imagination! It is all in the perspective of the observer.~Phat
| This message is a reply to: | | | Message 549 by Tangle, posted 04-03-2025 5:07 PM | | Tangle has not replied |
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Taq
Member Posts: 10450 Joined: 03-06-2009 Member Rating: 6.5
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Message 551 of 571 (922742)
04-04-2025 3:51 PM
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Reply to: Message 550 by Phat
04-04-2025 2:35 PM
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Re: The Art Of The Steal?
Phat writes: Maybe the world is trying to hint that it does not need the United States... The world is openly saying it can't work with an unreliable United States. If Harris had won the last election it would be smooth sailing right now. The US would still be the de facto leader of the free world. Harris didn't win, and the US is no longer the leader it once was.
| This message is a reply to: | | | Message 550 by Phat, posted 04-04-2025 2:35 PM | | Phat has replied |
| Replies to this message: | | | Message 553 by Phat, posted 04-10-2025 9:38 PM | | Taq has not replied |
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AZPaul3
Member Posts: 8738 From: Phoenix Joined: 11-06-2006 Member Rating: 5.6
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Message 552 of 571 (922743)
04-04-2025 5:01 PM
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Reply to: Message 550 by Phat
04-04-2025 2:35 PM
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Re: The Art Of The Steal?
Maybe the world is trying to hint that it does not need the United States... Idiot. Look at all the world's markets. The not-so-subtle hint is the world has no need of Trump.
“There’s simply no polite way to tell people they’ve dedicated their lives to an illusion,” -Daniel Dennett One of man’s greatest achievements was to reach out his mind and teach sand to think. Stop Tzar Vladimir the Condemned!
| This message is a reply to: | | | Message 550 by Phat, posted 04-04-2025 2:35 PM | | Phat has not replied |
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Phat
Member Posts: 18761 From: Denver,Colorado USA Joined: 12-30-2003 Member Rating: 3.5
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Message 553 of 571 (922815)
04-10-2025 9:38 PM
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Reply to: Message 551 by Taq
04-04-2025 3:51 PM
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Re: The Art Of The Steal?
Taq writes: The world is openly saying it can't work with an unreliable United States. If Harris had won the last election, it would be smooth sailing right now. I and the peanut gallery will forever disagree on this one. Harris never would have stopped spending money on Ukraine. She would never have supported Israel as Trump has done. We would still be full of Venezuelans and others, and our Southern Border would be as porous as a sponge.
When both religious and non-religious people reach the same conclusions then you know religion isn't the reason.--PercyGod alone is God *but* God is not alone~Ellis Potter We see Monsters where Science shows us Windmills.~Phat, remixed
Critics would of course say that "God" is a product of human imagination...but then again God may well declare that all of creation is a product of His imagination! It is all in the perspective of the observer.~Phat
| This message is a reply to: | | | Message 551 by Taq, posted 04-04-2025 3:51 PM | | Taq has not replied |
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DrJones*
Member Posts: 2383 From: Edmonton, Alberta, Canada Joined: 08-19-2004 Member Rating: 6.7
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Message 554 of 571 (922816)
04-10-2025 9:46 PM
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Reply to: Message 553 by Phat
04-10-2025 9:38 PM
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Re: The Art Of The Steal?
Harris never would have stopped spending money on Ukraine
you say that like it's a bad thing. I don't know why you're so eager to suck putin's cock, it's just going to taste like trump's ass.
It's not enough to bash in heads, you've got to bash in minds
soon I discovered that this rock thing was true
Jerry Lee Lewis was the devil
Jesus was an architect previous to his career as a prophet
All of a sudden i found myself in love with the world
And so there was only one thing I could do
Was ding a ding dang my dang along ling long - Jesus Built my Hotrod Ministry
Live every week like it's Shark Week! - Tracey Jordan
Just a monkey in a long line of kings. - Matthew Good
If "elitist" just means "not the dumbest motherfucker in the room", I'll be an elitist! - Get Your War On
*not an actual doctor
| This message is a reply to: | | | Message 553 by Phat, posted 04-10-2025 9:38 PM | | Phat has replied |
| Replies to this message: | | | Message 555 by Phat, posted 04-11-2025 2:06 AM | | DrJones* has replied | | | Message 557 by Phat, posted 04-11-2025 5:13 AM | | DrJones* has not replied |
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Phat
Member Posts: 18761 From: Denver,Colorado USA Joined: 12-30-2003 Member Rating: 3.5
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Message 555 of 571 (922817)
04-11-2025 2:06 AM
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Reply to: Message 554 by DrJones*
04-10-2025 9:46 PM
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Re: The Art Of The Steal?
Ukraine can never win that war. Your stock portfolio may have to take a hit because we are no longer perpetually feeding the military-industrial complex and chosen progressives worldwide. Quit making yourselves wealthy while blaming the billionaires and hiding behind the fake badge of democracy.
When both religious and non-religious people reach the same conclusions then you know religion isn't the reason.--PercyGod alone is God *but* God is not alone~Ellis Potter We see Monsters where Science shows us Windmills.~Phat, remixed
Critics would of course say that "God" is a product of human imagination...but then again God may well declare that all of creation is a product of His imagination! It is all in the perspective of the observer.~Phat
| This message is a reply to: | | | Message 554 by DrJones*, posted 04-10-2025 9:46 PM | | DrJones* has replied |
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