Could a bitcoin crash wreck the economy?

[69360]

It'll crash eventually but I don't think it will crash until the overall bubble crashes. And that won't happen until we get high to hyper-inflation and can no longer print our way out.

As long as the dollar remains the reserve currency for the world, the government can print their way out of anything.

 

[oyarde]

92, 661 seems better than GM stock in May 2009

 

[oyarde]

gold 4113 and bitcoin 91421 this morning , any of which is better than federal reserve notes. guaranteed improved odds of being worth more in six months than an frn

 

[Madison320]

As long as the dollar remains the reserve currency for the world, the government can print their way out of anything.

As long as the dollar remains the reserve currency for the world, the government can print their way out of anything.

I think they can print until we get high price inflation, maybe 15-30% as measured by the current cpi? At that point it would be political suicide to keep inflating.

 

[oyarde]

I think they can print until we get high price inflation, maybe 15-30% as measured by the current cpi? At that point it would be political suicide to keep inflation

I think they can print until we get high price inflation, maybe 15-30% as measured by the current cpi? At that point it would be political suicide to keep inflating.

I would be surprised if housing market didn't collapse quickly before another 12 percent was reported on current cpi .

 

[69360]

I think they can print until we get high price inflation, maybe 15-30% as measured by the current cpi? At that point it would be political suicide to keep inflating.

Why? It's just an arbitrary number. If the government continues to keep people fed and housed via entitlements, does it even matter anymore?

 

[Madison320]

Why? It's just an arbitrary number. If the government continues to keep people fed and housed via entitlements, does it even matter anymore?

The logical conclusion to your argument is that we can have hyperinflation and the government can still feed and house the entire population..

 

[69360]

The logical conclusion to your argument is that we can have hyperinflation and the government can still feed and house the entire population..

I believe so as long as the dollar is the reserve currency of the world.

 

[acptulsa]

I believe so as long as the dollar is the reserve currency of the world.

But the only reason it became that is because it wasn't devalued like that. Now that they're purposely destroying it (no doubt to make us happy to switch to their cashless CBDC) there's less reason every day not to switch to BRICS.

So I'm not counting on the FRN remaining the reserve currency. With Ukraine neverending, Israel going completely nutty and Venezuela too, I'm also not convinced we can keep enforcing the petrodollar.

 

[69360]

But the only reason it became that is because it wasn't devalued like that. Now that they're purposely destroying it (no doubt to make us happy to switch to their cashless CBDC) there's less reason every day not to switch to BRICS.

So I'm not counting on the FRN remaining the reserve currency. With Ukraine neverending, Israel going completely nutty and Venezuela too, I'm also not convinced we can keep enforcing the petrodollar.

Who is to say that a digital dollar wouldn't still be the reserve currency of the world? Does it really matter if it's printed, mined like BTC or created out of thin air?

Ukraine is all but over. Russia won. Venezuela was likely a distraction it's not happening. Israel is going to continue being Israel, I don't see how they can be stopped.

 

[acptulsa]

Who is to say that a digital dollar wouldn't still be the reserve currency of the world?

Will it still be called "dollar"? In any case, it might be a bit much to expect people around the world to stick with it through the process of the destruction of the current currency, which they obviously feel is a necessity to wean us from cash.

 

[Madison320]

Will it still be called "dollar"? In any case, it might be a bit much to expect people around the world to stick with it through the process of the destruction of the current currency, which they obviously feel is a necessity to wean us from cash.

I agree. There's 0% chance the world is going to accept a hyperinflating currency as the reserve currency.

 

[69360]

I agree. There's 0% chance the world is going to accept a hyperinflating currency as the reserve currency.

What would be the alternative? Not the yuan or the ruble.

 

[acptulsa]

...there's less reason every day not to switch to BRICS.

What would be the alternative? Not the yuan or the ruble.

Gee I don't have a clue.

 

[Madison320]

What would be the alternative? Not the yuan or the ruble.

Something that has been highly valued over thousands of years, portable, durable, divisible.

 

[69360]

Something that has been highly valued over thousands of years, portable, durable, divisible.

Won't happen. I'm not even convinced the US government holds what they claim to.

 

[oyarde]

Danke has lots of gold , i can trade him som furs , beads and shells

 

[Danke]

 

[Danke]

Danke has lots of gold , i can trade him som furs , beads and shells

How about young squaws?

 

[oyarde]

How about young squaws?

Hard times coming so those are priceless