Debt Rattle November 18 2017
- This topic has 4 replies, 4 voices, and was last updated 6 years, 5 months ago by
.
-
Posts
-
Henri Cartier Bresson Juvisny, France 1938 • Consumers Are Both Confident And Broke (John Rubino) • You Have Been Warned (Lance Roberts) • Norw
[See the full post at: Debt Rattle November 18 2017]• The World’s Biggest Wealth Manager Won’t Touch Bitcoin (BBG)
Argh! I can’t remember where (or who); but a guy posited that we’ll know the value of bitcoin when and if the dollar crashes. IIRC he also included an economic crash.
If I find the source I’ll post links…True enough. We have advancing use of it in trouble area like Zimbabwe and Venezuela, but that is different from other economies, perhaps less mature black market, larger in scale or speed, etc.
Also although BTC rose to $14k in the Zimbabwe non-coup, most of the development was before now, when BTC’s fees are reaching $5 and take 24h. We don’t know if that presages abandonment or a flip into LTC, Bitcoin Cash, Monero, or Dash, but it suggests Bitcoin Classic is now better suited to multi-million transactions than a broad public support whose everyday transactions could provide a floor. If that’s the case, then when those rich transactors get disrupted, the demand may fall. Or not. No one yet knows.
“…debt was able to support a rising standard of living..” Crack me up. Yes, when I racked up that $25k in credit card debt it really “supported my standard of living.” Oh wait, it didn’t support anything, it hallowed out and undermined my standard of living, but did allow me to perpetrate a fraud on my family and neighbors ’til the sheriff showed up. How many times do we have to learn debt is not money. Debt is the OPPOSITE of wealth and money.
A land tax seems anti-conservation to me. Just encourages skyscrapers powered by fossil fuels. Let’s just tax energy use instead.
- You must be logged in to reply to this topic.
Sorry, the comment form is closed at this time.