/biz/ - Business & Finance

>>29904833
right now the Treasury has over $1.5t sitting in its general account which it can use to fund government expenditure
not saying I'm 100% sold on the idea, I'm saying that I will keep a damn close eye on the Fed over the coming weeks and if, against all odds, they let things fall and the gov't applies discipline I will buy Berkshire
>https://fred.stlouisfed.org/series/WTREGEN
if the Fed starts printing more now it's game over, the dollar is finished and their power is forever lost... unless they back it by gold again..

>>29289271
>what do you think is the future of this
I mostly look at crypto as an online casino with FOMO/FUD/TA as the primary drivers.
>where can money be made outside of day trading and quick pnds
Definitely in crypto and stocks, that is as long as faith remains in the dollar and liquidity is plentiful.
If the dollar really gets into trouble the Federal Reserve System will fail and all physical cash will be backed by gold again (as is stated in the Federal Reserve Act).
The digital dollars you are using to trade in and out of BTC however are not collateralized by anything and will become worthless.
Bitcoin will also become worthless as its liquidity will become zero once large numbers of people try to make transactions with Bitcoin to acquire the liquidity they need to survive (food) and make investments (cheap real-estate, certain stocks, etc) during the chaos.
If you are stuck on exchanges like Binance you will be trading one worthless asset (BTC) for another worthless asset (USD).
>Wheres the value/future.
Most likely gold.
>>29289537
No transaction service justifies thousand or even hundred dollar fees. Especially in something as inconvenient, sluggish and unreliable as Bitcoin.
FedWire costs $25 per transaction and that includes plenty of support.
In Europe we have EMPSA that allow private citizens to make an infinite amount of instant and fully insured transactions for free. I bought my house in Germany for €325,000 using a Swedish payment app called Swish, it cost me nothing and the funds cleared instantly. I could literally see the money on the realtor account less than 1 second after making the payment and she had a German bank, I had a Swedish bank.
>>29289660
The market also told us that Gamestop was worth $24b, that DogeCoin is worth $7b and that subprime mortgages were worth trillions of dollars.

>>28878365
depends on whether you hold physical Federal Reserve notes or worthless digital dollars at the bank
if you have more questions take a look at my picture

>>28111803
>>28112306
what do you think will happen when confidence in the dollar drops? have you dumb niggers ever even asked yourself that?
do you think the US government will just roll over and that we will live in some kind of 'anarcho-capitalist utopia'?
when confidence wanes they will mobilize their gold and use it to collateralize the dollar, AS THE FEDERAL RESERVE ACT SAYS
SECTION 16, PARAGRAPH 4:
">Federal Reserve notes issued to any such bank shall, upon delivery, together with such notes of such Federal Reserve bank as may be issued under section 18 of this Act upon security of United States 2 per centum Government bonds, become a first and paramount lien on all the assets of such bank."
>a first and paramount lien on all the assets of such bank
>lien on all the assets of such bank
WHICH ASSETS DO THEY HOLD????? LOOK AT MY IMAGE
>>28111865
>happen after 100 years
no, it's gradual and no one knows the breaking point
>>28112067
oh holy shit you really are retarded and don't understand that mining low density ore in space is more expensive than mining high density ore in space
if mining gold on earth with much higher density ore, great infrastructure and proximity to customers hasn't caused the gold price to "cut gold prices by 10x or more" then how the fuck would mining in space do that?
also 500 years from now, how much do you think the economy will have grown? any gold you find will be insignificant compared to the size of the economy