OT: Crypto, Stocks, Bonds, Real Estate, Investments, IRAs & Finances, etc.

[Im Coming Home]

App That Lets Users Mimic Stock Trading Of Lawmakers EXPLODES In Popularity

Watch on YouTube

Cool idea but its $100 for the year to have it be automatic, a bit to pricey for me since I wanted to just give it a try and throw maybe $1k in there.

[HarthorneWingo]

Any economists on the forum?

Saudi Arabia ends petrodollar agreement: What it means for the USD, Bitcoin, and gold

https://kitco.com/news/article/2024-06-13/saudi-arabia-ends-petrodollar-agreement-what-it-means-usd-bitcoin-and-gold

Watch on YouTube

[Stannis]

Anybody worrying about BRICS?

[HarthorneWingo]

Anybody worrying about BRICS?

What’s BRICS?

[NYKinMIA]

Anybody worrying about BRICS?

What’s BRICS?

BRICS is an intergovernmental financial organization and Alec Burks is the chairman.

[HarthorneWingo]

Anybody worrying about BRICS?

What’s BRICS?

BRICS is an intergovernmental financial organization and Alec Burks is the chairman.

I bet you loved his playoff performance. Tell the truth.

[Stannis]

Anybody worrying about BRICS?

What’s BRICS?

https://en.wikipedia.org/wiki/BRICS

[HarthorneWingo]

Anybody worrying about BRICS?

What’s BRICS?

https://en.wikipedia.org/wiki/BRICS

Touché.

So what is its relevance and impact vis a vis the U.S. economy?

Whatcha got to say now Mr. Smarty Pants?

Watch on YouTube

[Stannis]

What’s BRICS?

https://en.wikipedia.org/wiki/BRICS

Touché.

So what is its relevance and impact vis a vis the U.S. economy?

Whatcha got to say now Mr. Smarty Pants?

Watch on YouTube

I'm still learning about it TBH. That's why I asked my question on here in hopes somebody smarter can answer it for me lol.

But from my understanding, if BRICS succeeds and more countries join, it will weak the USD and the USA will no longer have the luxury of exporting their inflation to other countries.

[HarthorneWingo]

Here’s an investment! We should form a limited partnership and buy one of these buildings at a 70% discount.

Watch on YouTube

[HarthorneWingo]

https://en.wikipedia.org/wiki/BRICS

Touché.

So what is its relevance and impact vis a vis the U.S. economy?

Whatcha got to say now Mr. Smarty Pants?

Watch on YouTube

I'm still learning about it TBH. That's why I asked my question on here in hopes somebody smarter can answer it for me lol.

But from my understanding, if BRICS succeeds and more countries join, it will weak the USD and the USA will no longer have the luxury of exporting their inflation to other countries.

Ok. That’s what I’m hearing too but I don’t understand how it all works.

[NYKinMIA]

What’s BRICS?

BRICS is an intergovernmental financial organization and Alec Burks is the chairman.

I bet you loved his playoff performance. Tell the truth.

I'll give him SOME credit for not sucking complete ass v the pacers.

[Rasho Brezec]

https://en.wikipedia.org/wiki/BRICS

Touché.

So what is its relevance and impact vis a vis the U.S. economy?

Whatcha got to say now Mr. Smarty Pants?

Watch on YouTube

I'm still learning about it TBH. That's why I asked my question on here in hopes somebody smarter can answer it for me lol.

But from my understanding, if BRICS succeeds and more countries join, it will weak the USD and the USA will no longer have the luxury of exporting their inflation to other countries.

BRICS has no shot at success because it comprises of 9 states that hate democracy and will turn on each other the moment their dictators will deem it favourable to them.

[NYKinMIA]

rasho?!

what a blast from the past

[Stannis]

RAAAASSSSHHHHHHOOOOOOOOOOOOOOOOOOOOOOOO!!!!!!!!!!!!!!!!!!!!

[CharlesOakley]

We have been inflating the supply of the dollar by 7% a year for 100 years. The dollar has been worthless as a store of value since we went off the gold standard. I don't think BRICS has any real part in our collapse, it was "quantitative easing" aka money printing coupled with the selling of government debt that will lead to the continued devaluation of the dollar.

[KOA]

We have been inflating the supply of the dollar by 7% a year for 100 years. The dollar has been worthless as a store of value since we went off the gold standard. I don't think BRICS has any real part in our collapse, it was "quantitative easing" aka money printing coupled with the selling of government debt that will lead to the continued devaluation of the dollar.

What sucks is that it doesn’t matter who wins the election because both candidates have had a propensity of increasing the supply of the dollar at a much higher clip.

Politics are interfering with fundamental economics. Handing out more Monopoly money to everyone in the game just makes it less valuable and results in everything costing a lot more.

What’s worse is that with the higher cost goods, the money that’s printed ends up making its way to the ultra wealthy and corporations. This is why the wealth gap has increased significantly since the pandemic.

We need to tighten the money supply and reduce the deficit to increase the longevity of our FIAT currency. Problem is no one will have the balls to do it because of public perception. People will have less dollars but they will be worth more. How do you sell that to the common man?

[HarthorneWingo]

We have been inflating the supply of the dollar by 7% a year for 100 years. The dollar has been worthless as a store of value since we went off the gold standard. I don't think BRICS has any real part in our collapse, it was "quantitative easing" aka money printing coupled with the selling of government debt that will lead to the continued devaluation of the dollar.

What sucks is that it doesn’t matter who wins the election because both candidates have had a propensity of increasing the supply of the dollar at a much higher clip.

Politics are interfering with fundamental economics. Handing out more Monopoly money to everyone in the game just makes it less valuable and results in everything costing a lot more.

What’s worse is that with the higher cost goods, the money that’s printed ends up making its way to the ultra wealthy and corporations. This is why the wealth gap has increased significantly since the pandemic.

We need to tighten the money supply and reduce the deficit to increase the longevity of our FIAT currency. Problem is no one will have the balls to do it because of public perception. People will have less dollars but they will be worth more. How do you sell that to the common man?

Wouldn’t that strategy have adverse consequences for working class people? If you’re going to tighten the money supply (“austerity”?), someone is going to get screwed.

[CharlesOakley]

I think all fiat is in a death spiral. There is too much existing debt for us to do anything but print our way out of it. The interest on our national debt has eclipsed our military budget and we aren't slowing down but accelerating. With talk of student debt relief, ongoing funding of Ukraine and Israel, possible reparations, and an upcoming election cycle, the opportunity for politicians to print money to gain political capital is endless. There are also pending bank failures, wallstreet bailouts, quantitative easing, potential commercial real estate collapse etc. where the fed will step in by printing more money.

As for tightening the money supply, that will disproportionately affect lower-income individuals who rely more on credit for consumption and emergencies in the short-term but may be needed for long-term stability and because inflation disproportionately affects them already. Historically, it's people who can afford investments like the S&P 500 or real estate who have on average gained at the rate our dollar was devalued. Everyone else has been getting robbed by the invisible tax of inflation. As Michael Saylor say, there is a name for people who keep their money in banks, "poor". I highly recommend reading "The Fiat Standard" by Saifedean Ammous if you are interested in this subject.

[HarthorneWingo]

I don’t have a strong handle on the inflation issue. My understanding is that it went down to a point but that there is still price gouging going on by companies.

US Inflation Rate is at 3.27%, compared to 3.36% last month and 4.05% last year.

The Feds target is 2%.

https://ycharts.com/indicators/us_inflation_rate#:~:text=US%20Inflation%20Rate%20is%20at,month%20and%204.05%25%20last%20year.