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Author | Topic: The Changing World Order | |||||||||||||||||||||||||||||||
Phat Member Posts: 18350 From: Denver,Colorado USA Joined: Member Rating: 1.0 |
Authoritarian Theodoric writes: Well I certainly don't limit my research. A better question is how do you think you know anything about the stock market... never mind commodities? Then how do you know anything about investing in gold?The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of a doubt, what is laid before him.” - Leo Tolstoy, The Kingdom of God is Within You (1894). When both religious and non-religious people reach the same conclusions then you know religion isn't the reason.--Percy Nor are Democrats the best party or the only one we should have. -Phat,2022 addressing The Peanut Gallery.
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Phat Member Posts: 18350 From: Denver,Colorado USA Joined: Member Rating: 1.0 |
Phat writes:
Biden's push for the digital currency may mean that even small transactions can be tracked.Theodoric writes:
I agree that the government needs to regulate tax cheats, but it seems like a far bigger issue than Authoritarian Democrats trying to control Republicans who are moving their assets out of the country. It's fair game to discuss digital currency in this thread. Lets talk about that. I will do a bit more research. I'm still re-reading Dalios book, which I have so far only heard on audio. WTF? Please send me the source for this. I think you may be misunderstanding something. His EO was to start exploring the possibilities and what they would mean. There is by no means a push. Do you think the government should put its head in the sand and pretend that this is not an issue that they should know and prepare for? The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of a doubt, what is laid before him.” - Leo Tolstoy, The Kingdom of God is Within You (1894). When both religious and non-religious people reach the same conclusions then you know religion isn't the reason.--Percy Nor are Democrats the best party or the only one we should have. -Phat,2022 addressing The Peanut Gallery.
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Phat Member Posts: 18350 From: Denver,Colorado USA Joined: Member Rating: 1.0 |
Theodoric writes: The question is not what you or I understand. The question is what Dalio understands. You understand nothing about economics and monetary theory. Until I read his book in its entirety, I can't form a cognizant appraisal of his theories in regard to where the US Economy and the almighty dollar are heading. I did watch an abridged presentation of his book. He seems to make sense to me. I can't simply go off of a Wall Street Journal Editorial that questions him, but I will say that it likely would be in the interests of Wall Street to debunk him. They need no panic from informed gold bugs.
We can discuss the transcript of this video for now. Unlike many YouTube videos, it is not simply clickbait.The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of a doubt, what is laid before him.” - Leo Tolstoy, The Kingdom of God is Within You (1894). When both religious and non-religious people reach the same conclusions then you know religion isn't the reason.--Percy Nor are Democrats the best party or the only one we should have. -Phat,2022 addressing The Peanut Gallery.
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Phat Member Posts: 18350 From: Denver,Colorado USA Joined: Member Rating: 1.0 |
The difference between the Great Depression and now is the debt levels. The US and the world cannot keep adding to an ever-growing debt even if it does feed people. Otherwise, everything and everyone will be at risk. Do you disagree?
The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of a doubt, what is laid before him.” - Leo Tolstoy, The Kingdom of God is Within You (1894). When both religious and non-religious people reach the same conclusions then you know religion isn't the reason.--Percy Nor are Democrats the best party or the only one we should have. -Phat,2022 addressing The Peanut Gallery.
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Phat Member Posts: 18350 From: Denver,Colorado USA Joined: Member Rating: 1.0 |
Taq writes: Fiat currencies are a fact of life. I agree with what Percy and Theodoric have insinuated earlier in that the world will never return to a strict gold standard. The issue is what backs the money...not just the dollar but every other fiat currency globally. Let us examine Global debt and tie that in with modern economic theory versus what Dalio is claiming. What we are all disagreeing with is that the US is vulnerable because we use a fiat currency.The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of a doubt, what is laid before him.” - Leo Tolstoy, The Kingdom of God is Within You (1894). When both religious and non-religious people reach the same conclusions then you know religion isn't the reason.--Percy Nor are Democrats the best party or the only one we should have. -Phat,2022 addressing The Peanut Gallery.
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Phat Member Posts: 18350 From: Denver,Colorado USA Joined: Member Rating: 1.0 |
I agree.
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Phat Member Posts: 18350 From: Denver,Colorado USA Joined: Member Rating: 1.0 |
Ray Dalio is quite thorough in his research about this stuff. I know that you guys think that I get far too much information from "YouTube Videos", but I am no stupid rube trolling for clickbait. (hopefully, anyway! ) Ray Dalio is respected among political, financial, and social analysts throughout the world.
8 months ago, he did an interview with Fareed Zakaria at the Council On Foreign Relations website. quote:John B. Hurford Memorial Lecture With Ray Dalio He may not be an "official" economist, but he would never get interviews with such commentators were he simply a gold bug rube. I think that Theodoric resents him because he is a wealthy Libertarian, rather than a Democrat.
quote: The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of a doubt, what is laid before him.” - Leo Tolstoy, The Kingdom of God is Within You (1894). When both religious and non-religious people reach the same conclusions then you know religion isn't the reason.--Percy Nor are Democrats the best party or the only one we should have. -Phat,2022 addressing The Peanut Gallery.
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Phat Member Posts: 18350 From: Denver,Colorado USA Joined: Member Rating: 1.0 |
Dalio does not elaborate much on digital currencies, but in the interview with Fareed, the question was brought up. The prevailing thinking is that a new blockchain digital currency will be created, backed by Gold. Dalio didn't say this, however.
The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of a doubt, what is laid before him.” - Leo Tolstoy, The Kingdom of God is Within You (1894). When both religious and non-religious people reach the same conclusions then you know religion isn't the reason.--Percy Nor are Democrats the best party or the only one we should have. -Phat,2022 addressing The Peanut Gallery.
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Phat Member Posts: 18350 From: Denver,Colorado USA Joined: Member Rating: 1.0 |
My long-range thinking and planning is that the dollar will tank...within 5 years at the most.
I am fully legal in my investments at this point in time. The silver coins which I bought were $20.00 spot and I paid $27.00 for them. As of now, they have no capital gains. IF I am wrong in my future assessment of the dollar's demise, I still believe that I will eventually recoup the commodity investment. I am watching a good documentary based on our conversations regarding capital gains.
The Silent Killer of the Middle Class | Tax Evasion | ENDEVR Documentary I now am under no illusion that I am even middle class anymore. I earn under $30,000.00 a year. In the documentary, one gentleman from Vancouver moved to London as a Tax Haven. The Feds caught up with him and his defense was that he was not evading anything. He was simply redistributing assets, a process that he called "Tax Efficiency". The Feds responded that what he called efficiency, they might call avoidance. If my silver investment(cost me $10k and is worth 7K at current value) ever gained in value, it would likely only allow me to break even unless the dollar totally tanked and silver went up 5 times (such as many of the clever YouTube "click bait" videos assert)
Theodoric writes: I have never said that it is ok to cheat. In the video, the authorities said to one defendant at one point "we do not insinuate that what you are doing is illegal. We are suggesting that it is immoral." We already know that Phat thinks it is ok to cheat on taxes. These defendants were each worth over $100,000.00 which puts them far out of my league. All that I have suggested is that a man in my position, (63 and about to retire, net worth under 30K) should have no reason to worry about tax evasion.
Phat, earlier writes:
One can legally avoid capital gains if one sells small amounts of commodities at a time.pro-government liberal, Tanypteryx writes: Again, this documentary seems to suggest that there is a threshold. If one had $7k worth of silver, paid 10K for it, and the price rose to $40.00 oz (net profit 4k) only an authoritarian nazi would insist that the government had a right to $1000.00 of your profits. It is not immoral to be efficient with your finances if your very livelihood depends on them. The basic question, then is what is fair. Only if you are a tax cheat. This is one of my basic gripes about the authoritarianism of the current system as it is being overhauled. the small fish get caught up in the net designed to catch bigger fish.If an old retiree can't rely on social security, WTF are they supposed to do? Of course, these questions are moot if you all think that Ray Dalio is "no economist" and is a hated billionaire. Ask yourselves what it is that you do to avoid taxes. How about political contributions? How about charity? And can any of us really think that Dalio and his accountants don't do the same thing on a larger scale?
Taq writes: I think that Taq has the rightTactic! Better yet, buy a diverse selection of investments spread over bonds, index funds, and a smattering of riskier stocks. Oh, and cash them out in dollars. If you keep them for more than a year you can pay the much lower long-term capital gains tax. If you make less than ~$500,000 in investments held over 1 year you only pay 15% tax, much lower than the equivalent in income tax. Edited by Phat, . The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of a doubt, what is laid before him.” - Leo Tolstoy, The Kingdom of God is Within You (1894). When both religious and non-religious people reach the same conclusions then you know religion isn't the reason.--Percy Nor are Democrats the best party or the only one we should have. -Phat,2022 addressing The Peanut Gallery.
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Phat Member Posts: 18350 From: Denver,Colorado USA Joined: Member Rating: 1.0 |
Theo writes:
There are already gold-backed cryptocurrencies. What we are talking about, however, is a Federal Reserve Digital Currency and the discussion surrounding it.
Who said this?quote:Basically, this argument hinges on whether an investor should trust 1)Government 2)Banks 3) The Federal Reserve There are pros and cons to these issues. Many people these days are considering investments outside of1)Government oversight (control) 2)Banks and the honesty and integrity of said institutions 3) Does the Federal Reserve know what they are doing any more than does a man such as Ray Dalio? None of you will watch the video, so I guess I will have to become knowledgeable about the argument. I'm still waiting for the book. Theo writes:
And yet it is already happening.
Blockchain backed by gold seems to (be the) antithesis of what crypto is.Top 6 Gold-Backed Cryptocurrency For 2022 quote: Personally, I'm no fan of Cryptocurrencies and am scared of a FedCoin (or) a FedCrypto. It will essentially become a fiat-crypto, backed by the Federal Reserve and (they claim) the full faith of the people. Many of us doubt the integrity and/or wisdom of the Fed. They helped cause the Great Depression, for example. Methinks that many of you are scared to NOT trust the system since unified trust seems to equate with a unified party, ideology, and method. Billionaires fear government control of their assets. An authoritarian government could raise taxes to 80% for them, in a crisis. The question, however, is what fate awaits the little fish? Edited by Phat, : fixed broken quote link The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of a doubt, what is laid before him.” - Leo Tolstoy, The Kingdom of God is Within You (1894). When both religious and non-religious people reach the same conclusions then you know religion isn't the reason.--Percy Nor are Democrats the best party or the only one we should have. -Phat,2022 addressing The Peanut Gallery.
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Phat Member Posts: 18350 From: Denver,Colorado USA Joined: Member Rating: 1.0 |
Phat writes:
Does the Federal Reserve know what they are doing any more than does a man such as Ray Dalio?Taq writes: Would you be able to determine who is more knowledgeable about the economy? I finally am reading the book, so we can get it from the horse's mouth. The peanut gallery may like his dedication (of the book) if nothing else.He says: To my grandchilden and those of their generation who will be participants in the continuation of this story: may the Force of Evolution be with you. In his preface, he lists many people who helped him with the book, only the first name of which I know of:
[quote][i]I am especially grateful to Henry Kissinger, Wang Qishan, Graham Allison, Lee Kuan Yew, Liu He, Paul Volcker (I know that name too), Mario Draghi, Paul Kennedy,Richard N.Haass, Kevin Rudd,Steven Kryger,Niall Ferguson,H.R.McMaster,(whom I think was a retired General) and the list goes on.
Theodoric writes: Ray Dalio founded the largest Hedge Fund in the world.( Bridgewater Associates.) Dalio is a rich guy that has no expertise in what he is writing about trying to turn pithy phrases stock comments into some sort of new age tech homespun wisdom.The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of a doubt, what is laid before him.” - Leo Tolstoy, The Kingdom of God is Within You (1894). When both religious and non-religious people reach the same conclusions then you know religion isn't the reason.--Percy Nor are Democrats the best party or the only one we should have. -Phat,2022 addressing The Peanut Gallery.
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Phat Member Posts: 18350 From: Denver,Colorado USA Joined: Member Rating: 1.0 |
Chance does not exist. He either is or is not an "asshole" not based on his party affiliation or his wealth but on his observable performance. And since your Left leaning ego refuses to watch it, you are in fact clueless.
The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of a doubt, what is laid before him.” - Leo Tolstoy, The Kingdom of God is Within You (1894). When both religious and non-religious people reach the same conclusions then you know religion isn't the reason.--Percy Nor are Democrats the best party or the only one we should have. -Phat,2022 addressing The Peanut Gallery.
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Phat Member Posts: 18350 From: Denver,Colorado USA Joined: Member Rating: 1.0 |
I doubt you watched it. You have preconceived idea and ideologies anyway.
And I expect that the hedge fund he founded is more successful than any of the financial advisors you have. I could be wrong, however.The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of a doubt, what is laid before him.” - Leo Tolstoy, The Kingdom of God is Within You (1894). When both religious and non-religious people reach the same conclusions then you know religion isn't the reason.--Percy Nor are Democrats the best party or the only one we should have. -Phat,2022 addressing The Peanut Gallery.
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Phat Member Posts: 18350 From: Denver,Colorado USA Joined: Member Rating: 1.0 |
Lets continue with the book. Theodoric is trying in vain to discredit Ray Dalio with no evidence to back his argument up, except what he can google off of the internet. My advice is to ignore him and read the book (or watch the video) yourselves if you are at all interested in the premise.
In Part 1, How The World Works Dalio describes what he learned through observation and the study of History. As a businessman, he said that Dalio:As the founder of Bridgewater Associates, one of the largest and most successful Hedge Funds globally, I can see why Dalio would have been wise to chart trends and reasons for a countries rise and fall. The fund averaged a 25% return for its investors through the early 2000's until around 2015. The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of a doubt, what is laid before him.” - Leo Tolstoy, The Kingdom of God is Within You (1894). When both religious and non-religious people reach the same conclusions then you know religion isn't the reason.--Percy Nor are Democrats the best party or the only one we should have. -Phat,2022 addressing The Peanut Gallery.
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Phat Member Posts: 18350 From: Denver,Colorado USA Joined: Member Rating: 1.0 |
ringo writes: The banking and credit system has been digital for a long time, as you say. But what if your brother had cashed out his paycheck, government check or whatever and paid cash for all of his coffee and items which he purchased? You would be none the wiser. You may even never have known that he preferred Tim Horton's, had you not talked with him otherwise. We already have digital currency. Where have you been for the past forty years? (...)I have told you before, when my brother died, we had access to his bank statements. This is what is concerning about a digital dollar. If every single transaction ever made could be tracked, you would be hounded by regulations beyond what is necessary. As an example, say I wanted to trade my car for a better one and my neighbor agreed to swap cars if I gave him cash. Under the old system, the exchange would be private. Under the new system, everything one does would be tracked and recorded. (or hypothetically could at any rate.) This gets back to the differing ideologies of freedom and equality. Am I not free to buy a car from a private seller and not have the value exchange tracked so obsessively? What if I bought a gold coin? The coin store does not report purchases under a certain dollar value or a certain quantity of coins purchased. Or take casinos. It used to be that if a guy won a jackpot, he would not trigger a mandatory tax form under a certain amount (I believe the amount was $1000.00) The casinos later switched to paper voucher payouts and eliminated the clunky tokens. I don't think much else changed in regards to the mandatory reporting rules, but lets say that it did. Lets say that every time you won over $100.00 the tax was noted, even if you turned around and lost $100.00! Or lets say that your overall winnings and losings were tracked 100% and you owed tax every darn time you came out ahead? To me that is overarching government control and authoritarian.
ringo writes: While I agree that wealthy individuals should be watched closer for tax evasion than a hundred dollar winner at a casino, under the new system EVERYONE is held accountable. Conservatives rightly detest big government and obsessive control over everyone's private lives. The "offshore system" that you touted recently is cheating.The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of a doubt, what is laid before him.” - Leo Tolstoy, The Kingdom of God is Within You (1894). When both religious and non-religious people reach the same conclusions then you know religion isn't the reason.--Percy Nor are Democrats the best party or the only one we should have. -Phat,2022 addressing The Peanut Gallery.
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