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  #11  
Old 01-14-2022, 12:02 PM
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Does it seem risky to anyone else to back a type of currency whose value isn't set against a tangible asset????
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  #12  
Old 01-14-2022, 12:07 PM
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Does it seem risky to anyone else to back a type of currency whose value isn't set against a tangible asset????
It seems ludicrous.
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Old 01-14-2022, 05:23 PM
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Does it seem risky to anyone else to back a type of currency whose value isn't set against a tangible asset????
But think about it A1...our currency is valued against gold reserves. The only reason gold is valuable is because we humans say it is. Do we need it, no. I haven't bothered to look so I don't know, what backs up the rest of the worlds currencies? Does it really matter because those could be considered worthless by society too?
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  #14  
Old 01-15-2022, 04:40 AM
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Originally Posted by Friggemall View Post
But think about it A1...our currency is valued against gold reserves. The only reason gold is valuable is because we humans say it is. Do we need it, no. I haven't bothered to look so I don't know, what backs up the rest of the worlds currencies? Does it really matter because those could be considered worthless by society too?
I thought the US has been off the gold standard for nearly 90 years? The government certainly doesn't have enough gold to back our paper money. They say the dollar is backed by the "full faith and credit" of the US, whatever that means. When our citizens and foreign creditors stop believing in that, the dollar will go the way of the Turkish lira -down, down, down.
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Old 01-15-2022, 07:10 AM
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been off of gold since 1972

Currencies are now based on THE ABILITY FOR GOVERNMENTS TO COLLECT TAXES.

Above is worldwide, thus, bigger your economy bigger the bill.....and then it goes to STABILITY OF GOVERNMENT.

Plain and Simple......

FWIW, Crypto is the Q-Anon of Currencies.......good luck sports fans!
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  #16  
Old 01-19-2022, 03:30 AM
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Originally Posted by A1food4u View Post
Does it seem risky to anyone else to back a type of currency whose value isn't set against a tangible asset????
There’s lots of BS crypto out there for sure.

But trusting government manipulated fiat money is a risk in itself. More then a risk because you’re automatically losing with depreciation.

& government bonds suck too.

Old timers seem to favor silver & gold bullion & coins.
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Old 01-19-2022, 05:55 AM
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Originally Posted by Massimo1 View Post
I thought the US has been off the gold standard for nearly 90 years? The government certainly doesn't have enough gold to back our paper money. They say the dollar is backed by the "full faith and credit" of the US, whatever that means. When our citizens and foreign creditors stop believing in that, the dollar will go the way of the Turkish lira -down, down, down.
It was on fractional gold reserves but Nixon ended that I think in 1972. Since then the purchase of oil has to be done in USD, which gives the US an advantage. In a way the value is pegged to oil. However, the USD is not backed by any precious metals. It is essentially a fiat currency. Central banks basically print what they want when they want and hand it to whomever they want. If you really want to shit your pants look into Black Rock and Vangard, the two big investment companies buying up so many hard assets right now. It's a big club folks and you ain't in it.
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  #18  
Old 01-19-2022, 08:09 AM
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Originally Posted by Glycomann View Post
It was on fractional gold reserves but Nixon ended that I think in 1972. Since then the purchase of oil has to be done in USD, which gives the US an advantage. In a way the value is pegged to oil. However, the USD is not backed by any precious metals. It is essentially a fiat currency. Central banks basically print what they want when they want and hand it to whomever they want. If you really want to shit your pants look into Black Rock and Vangard, the two big investment companies buying up so many hard assets right now. It's a big club folks and you ain't in it.
Yes sir, all types of behind the scenes BS.

Do you do any investing Glyco? Any pharmaceutical companies with something great in the pipeline that you might be aware of?
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  #19  
Old 01-19-2022, 06:56 PM
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Yes sir, all types of behind the scenes BS.

Do you do any investing Glyco? Any pharmaceutical companies with something great in the pipeline that you might be aware of?
No just mutuals, crypto and metals.
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