Question about gold

[KiffinKiller]

Keep printing c notes!

 

[golfballs]

the only solution for euroland is to heat up the printing presses.

 

[Rasputin_Vol]

WTF? hmy:

[youtube]http://www.youtube.com/watch?v=WCbrOzhwkXc[/youtube]

 

[KentheOrange]

In the end, what does it all mean? That our currency is actually tied to the price of oil? Still seems like a fiat currency.

It's actually more accurate to say that the price of oil is tied to the dollar (petrodollar). As the dollar weakens (the last two administrations have worked to weaken the dollar for balance of trade reasons) the price of oil goes up to offset it. This is in addition to other forces on the price of oil.

 

[NEO]

The above is true.

We appear to be actually weakening our dollar on purpose to a degree.

Our country is roughly 300 million and the worlds is somewhere around 4 billion. There is more to be made in exports than imports.

In a global economy having the strongest dollar is not always the best thing anymore.

 

[n_huffhines]

Bitcoin is the future.

 

[golfballs]

u serious?

 

[n_huffhines]

u serious?

Why wouldn't I be.

As we devalue the dollar it will become a more and more attractive option. Governments are likely going to try to ban it (they don't like competition) so that does put it into question.

 

[golfballs]

i read even the inventor of the thing thinks it has no future