“They saw their injured country's woe;
The flaming town, the wasted field;
Then rushed to meet the insulting foe;
They took the spear, - but left the shield.”
―Philip Freneau
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And by a prudent flight and cunning save A life which valour could not, from the grave. A better buckler I can soon regain, But who can get another life again?
Archilochus
Friday, December 17, 2021
Non-Fungible Tokens (NFTs)
Purchase Your Token NFT Today... Bitcoin Offers only!
Inflation represents the economic activity "financed" by government. The more they waste, the higher the inflation...
Seizing gold just gave the government the opportunity to print more worthless paper money. The commodity "gold" was given a fixed/artificial price... not a floating one... or it's value/worth would have increased based upon the laws of supply and demand.
23 comments:
Remember when the FDR administration arrested people for hoarding gold?
Pepperidge Farms remembers.
When you buy gold now, you don't get gold to take home with you...
Just wait until America's cyber divisions start targeting the blockchains...
At least with an NFT you get to keep whatever trinket it represents lol
Unless it's an NFT for gold you have entrusted the seller to store for you...
You might get $50 back for each Gold Eagle (the US Mint stamped value)
FSR seized fold to fight inflation... Just sayin
FDR*
*gold
Inflation represents the economic activity "financed" by government. The more they waste, the higher the inflation...
Seizing gold just gave the government the opportunity to print more worthless paper money. The commodity "gold" was given a fixed/artificial price... not a floating one... or it's value/worth would have increased based upon the laws of supply and demand.
Bretton Woods was the result.
Yup.
The government was happy to let gold skyrocket in value onc they possessed most of it.
It's why they sell $50 gold coins for $1800 now
...even though the currency isn't backed by gold now. Debt is the store of value now.
Wanna buy some debt?
Oh... Is your asset troubled now?
Not while it's invested in the means of actual production. :)
When the government confiscates that, Venezuelan style inflation becomes a certainty.
Until they hide it under a new store of value, like an NFT or bundled subprime mortgages.
It's uncollectible promissory notes all the way down.
We'll pass our debts to extraterrestrials. It's the American way.
No, we all pay for it like a "tax" in the present as "inflation".
A tax on savings, yes. But the stack of cash you have in the bank will always be more worthless to you than to the bank it is in.
And the government gets it's interest free loans from you at gunpoint.
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