U.S. Debt Reaches Record 37 Trillion [2 months later: 38 trillion]

[Danke]

Got Gold?

 

[TheTexan]

They gonna stop making new pennies next year

They should just divide everyones currency by 5 and make nickels the new penny

Zimbabwes mistake is they let number keep getting bigger

If you make number smaller and everything cheaper but keep inflation the same everyone is happy

 

[vita3]

Doge?

 

[acptulsa]

Half a trillion a month and still accelerating.

Anyone still doubt they're purposely destroying the FRN? Anyone doubt they have a replacement ready, and cash isn't part of the package?

And guess who's right in the middle of it...

 

[Madison320]

We just hit 38 trillion in debt. We were at 37 trillion on 8/11. So we blew thru a trillion in 2 1/2 months.

 

[nikcers]

Virtually every currency in thousands of years of history has been "fiat" issued by a central authority.

Our system has a central authority but it has decentralized power and checks against power.

There are short periods of time with non fiat based currency those are even shorter lived than fiat based currency.

Stuff like gold has always been the currency of slave economies and monarchy. The nobility class own gold while the serf class and the peasant class are allowed to have what the state that has a monopoly on power gives them.

Its an investment and insurance against economic crashes but isn't logistical enough for the post industrial revolutionary world we are in to replace the economy we have.

Our economy runs on energy not gold.

If we had gone to a gold economy in 2008 most Americans would not be able to afford energy and we definitely wouldn't be energy dominant in the world with the best AI and best military.

 

[acptulsa]

The nobility class own gold while the serf class and the peasant class are allowed to have what the state that has a monopoly on power gives them.

If the bot had any brains it would realize that's the exact situation the "nobility" is creating now, using fiat as the weapon which strips everyone else of our wealth.

 

[nikcers]

If the bot had any brains it would realize that's the exact situation the "nobility" is creating now, using fiat as the weapon which strips everyone else of our wealth.

How do you define wealth?

I can grow food on land. Bullets can protect my life and property. Energy can keep my lights on. Energy can purify water.

There's nothing I can do with gold if you think gold is wealth.

If the economy crashed tomorrow and the bombs dropped and I had a basement full of freeze dried good food and bullets and clean water I would live a lot longer than the guy who has a couple gold bars.

 

[acptulsa]

Times are hard by design. The currency is being destroyed on purpose. These ads are everywhere. Bot can't figure it all out.

 

[oyarde]

Doge?

It was a scam . Spending increased first quarter about 160 billion over previous yr . Doge savings were about 160billion . Senate passed 9 billion , wasting time of people working on cuts

 

[nikcers]

How do you define wealth?

I can grow food on land. Bullets can protect my life and property. Energy can keep my lights on. Energy can purify water.

There's nothing I can do with gold if you think gold is wealth.

If the economy crashed tomorrow and the bombs dropped and I had a basement full of freeze dried good food and bullets and clean water I would live a lot longer than the guy who has a couple gold bars.

If you had bought 10,000 dollars in NVIDIA stock a couple years ago you would be a lot more wealthier than if you had bought gold.

This ain't the days of monarchy when you can rule people just by having gold.

Having gold was a show of force. It was a way of advertising your army's strength because if you had a lot of gold that meant nobody could take it from you.

Only the king had gold.
He took it from everyone else.

You can have a powerful military these days by having energy dominance or lots of oil and a robust global trading system with access to world trade.

The best military.

There's no substitute for military power. If you don't have that they can just take your gold and your life.

 

[nikcers]

It was a scam . Spending increased first quarter about 160 billion over previous yr . Doge savings were about 160billion . Senate passed 9 billion.

The spending increase was substantially just interest on the debt.

That and Healthcare for the elderly.

Cutting that is less beneficial because it would reduce the amount we could spend on AI.

Knowledge is power and AI will be able to exponentially increase the ability of our civilization to utilize information.

Information has been the most powerful currency of the world since our species developed intelligence and AI exponentially increases the intelligence capability of our civilization 10,000 fold.

 

[acptulsa]

Bot says, insider trading pays better than gold. I say, anyone who listens to bots deserves what he gets.

 

[nikcers]

Bot says, insider trading pays better than gold. I say, anyone who listens to bots deserves what he gets.

Its not insider trading. I was telling anyone who would listen 5 years ago NVIDIA stock would make them rich.

I think it was actually someone on this website that told me AI would be coming that would change the world and it was obvious that it would need tremendous amounts of powerful chips. That was before pandemic.

 

[acptulsa]

Its not insider trading. I was telling anyone who would listen 5 years ago NVIDIA stock would make them rich.

I think it was actually someone on this website that told me AI would be coming...

Bot says it wasn't inside info when it advised people to buy the stock "because AI" two years before the company officially got into the AI business.

 

[nikcers]

Bot says it wasn't inside info when it advised people to buy the stock "because AI" two years before the company officially got into the AI business.

Yeah well there wasn't really an AI industry back then either.

Someone on this forum told me that it was coming im not going to say their username but I didn't hear it anywhere else at the time.

Nobody even knew what AI was back then.