Neeranam Posted February 17, 2022 Share Posted February 17, 2022 https://www.alleywatch.com/2019/01/the-us-dollar-is-a-ponzi-scheme/ 3 Link to comment Share on other sites More sharing options...
darksidedog Posted February 17, 2022 Share Posted February 17, 2022 Once the gold standard was lost to actually back your money, pretty much every currency jumped in the same boat. Has to make you wonder what Bitcoin would be worth right now had it been launched when that link to money the Government actually had was lost? 1 Link to comment Share on other sites More sharing options...
Neeranam Posted February 17, 2022 Author Share Posted February 17, 2022 4 minutes ago, darksidedog said: Once the gold standard was lost to actually back your money, pretty much every currency jumped in the same boat. Has to make you wonder what Bitcoin would be worth right now had it been launched when that link to money the Government actually had was lost? To be fair, it's not just the US dollar. Link to comment Share on other sites More sharing options...
StayinThailand2much Posted February 17, 2022 Share Posted February 17, 2022 (edited) 28 minutes ago, Neeranam said: To be fair, it's not just the US dollar. Reminds me of that joke... Father teaches son about currencies and fluctuations, after which son asks: "Daddy, can I have next week's pocket money in Swiss francs, please?" Edited February 17, 2022 by StayinThailand2much 1 1 Link to comment Share on other sites More sharing options...
RichardColeman Posted February 17, 2022 Share Posted February 17, 2022 Used to be 'Spend, spend, spend' now it's 'Print, print, print' 2 Link to comment Share on other sites More sharing options...
Popular Post itsari Posted February 17, 2022 Popular Post Share Posted February 17, 2022 The US dollar is the most powerful currency in the world as is there military and consumer capacity . While that situation remains the world will continue to support the scheme . 4 Link to comment Share on other sites More sharing options...
Popular Post dj230 Posted February 17, 2022 Popular Post Share Posted February 17, 2022 not really how a Ponzi scheme works 3 1 Link to comment Share on other sites More sharing options...
Neeranam Posted February 17, 2022 Author Share Posted February 17, 2022 2 minutes ago, dj230 said: not really how a Ponzi scheme works You've already proved on another thread that you don't know what a Ponzi is. 1 1 Link to comment Share on other sites More sharing options...
Popular Post Lacessit Posted February 17, 2022 Popular Post Share Posted February 17, 2022 1 hour ago, itsari said: The US dollar is the most powerful currency in the world as is there military and consumer capacity . While that situation remains the world will continue to support the scheme . The power resides in the status of the USD as the world's reserve currency. Lose that status, and it becomes trillions of bits of much less valuable paper. The Chinese and Russians are ganging up on it. 4 Link to comment Share on other sites More sharing options...
EricTh Posted February 17, 2022 Share Posted February 17, 2022 (edited) 33 minutes ago, Lacessit said: The power resides in the status of the USD as the world's reserve currency. Lose that status, and it becomes trillions of bits of much less valuable paper. The Chinese and Russians are ganging up on it. I heard China is trying to back its currency with gold to compete with the USA? How true is this? Edited February 17, 2022 by EricTh Link to comment Share on other sites More sharing options...
Popular Post Walker88 Posted February 17, 2022 Popular Post Share Posted February 17, 2022 No, it's not a Ponzi. A Ponzi Scheme is built upon the principle that a Greater Fool will bail out the creators. The creators first create buzz by letting some smallfry win a little, then when the masses get excited, they hammer as much as possible and realize their winnings. Funny thing...those 'finite' cryptos now have 9000 of the 'best' ones being posted and followed by Yahoo. Yahoo had to choose amongst the ever-growing, infinite universe of cryptos and left out another 9000 cryptos that haven't yet found their cult following. There are only about 160-180 fiats in the world, but most of them are accepted everywhere, and transactions take a microsecond, both to enter and to cancel, if one decides to do so. The financial press had an interesting article on the behavior of ethereum in the last year. It is---without meaning to be---the quintessential Ponzi. The article notes the millions of new wallets over a period when price movement was minimal. The name for that is 'distribution'. The whales are hitting the bids of the day trading geniuses. That doesn't mean the scam is finished, but it does give a clear indication of how it eventually ends. One makes a crypto in order to lure in dream buyers, then takes their accumulated wealth from them. Funny the crypto faithful don't trust governments, but have full faith in anonymous crypto creators the cult couldn't pick out of a crowd of 2. Sure, crypto creators are the salt of the Earth, the men Diogenes sought taking nightly walks with his lantern, born even without Original Sin, like Mary---pregnant while still a virgin. Ha! 8 1 1 1 Link to comment Share on other sites More sharing options...
Popular Post lkn Posted February 17, 2022 Popular Post Share Posted February 17, 2022 What a ridiculous premise that title is. A ponzi is when you lure in new investors by pretending you have a business scheme going, but in fact, the money they “invest”, is used to pay a return to earlier investors. How does that map to the USD? E.g. the last time I bought USD, were the EURs I paid distributed to earlier investors that were promised some absurd yield? Btw: Why is it I still have to read these stupid titles from OP when I have him on my ignore list? 8 2 Link to comment Share on other sites More sharing options...
Popular Post dj230 Posted February 17, 2022 Popular Post Share Posted February 17, 2022 31 minutes ago, lkn said: What a ridiculous premise that title is. A ponzi is when you lure in new investors by pretending you have a business scheme going, but in fact, the money they “invest”, is used to pay a return to earlier investors. How does that map to the USD? E.g. the last time I bought USD, were the EURs I paid distributed to earlier investors that were promised some absurd yield? Btw: Why is it I still have to read these stupid titles from OP when I have him on my ignore list? The op doesn't know what a Ponzi scheme is, don't waste your time 6 1 1 Link to comment Share on other sites More sharing options...
olfu Posted February 17, 2022 Share Posted February 17, 2022 US dollar is regular scam supported by US government. 1 1 1 Link to comment Share on other sites More sharing options...
Popular Post ChrisP24 Posted February 17, 2022 Popular Post Share Posted February 17, 2022 People probably said the same things about gold thousands of years ago. Why trade food or other useful things for gold? You can't eat it, it won't keep you warm, it can't be hammered into useful tools or weapons with any degree of durability, so what good is it really? It only has value for as long as people can be fooled into thinking it has value. Thousands of years later gold hasn't become worthless yet, but at some point it will. Not during our lifetimes though so it's good enough for now and a waste of time to worry about it. As for the dollar, it will be good for as long as the U.S. stays viable. So yes be aware of history and know what can happen to the currency of any nation and keep an eye on it, but for now it is good enough. 2 1 1 Link to comment Share on other sites More sharing options...
Popular Post itsari Posted February 17, 2022 Popular Post Share Posted February 17, 2022 3 hours ago, Lacessit said: The power resides in the status of the USD as the world's reserve currency. Lose that status, and it becomes trillions of bits of much less valuable paper. The Chinese and Russians are ganging up on it. China and Russia are not selling there US treasuries in this ganging up process you mention . Russia has tried in vain to have oil sold in Roubles with out success . China's largest market is the US . Gang up all the facts and you can see why the US can continue the so called Ponzi scheme. 1 1 1 Link to comment Share on other sites More sharing options...
Popular Post gargamon Posted February 17, 2022 Popular Post Share Posted February 17, 2022 This thread is obviously about pumping crypto. Make the US dollar look bad, eventually come back and say crypto is the only answer. With the recent drastic drops in crypto, any means necessary will be used to get new suckers. 3 2 Link to comment Share on other sites More sharing options...
lkn Posted February 18, 2022 Share Posted February 18, 2022 13 hours ago, olfu said: US dollar is regular scam supported by US government. One can certainly make the argument that the debt which the U.S. builds up is unsustainable and sooner or later, they will be unable to service it, and if they do, the USD will “collapse” because nobody wants to hold U.S. treasury bills, bonds, and notes, if it seems the issuer is about to default. But that day is not today, nor does this make it a scam. It is no different than Evergrande or any other company which builds up debt faster than what is supported by the underlying economic activity. So you could make the headline: U.S. growth and tax revenue does not keep up with the pace with which the U.S. treasury issues debt, therefore we think sooner or later, the U.S. will be unable to pay interests on their debt or will miss a payment, casing the USD to fall in value. But with that headline it is suddenly clear that USD is very different from crypto currencies, and escaping USD by buying crypto assets, in the belief that the U.S. government is soon to collapse, is just foolish, because you are buying something which has no value and no cashflow, and is still denominated in USD… 2 Link to comment Share on other sites More sharing options...
EricTh Posted February 18, 2022 Share Posted February 18, 2022 15 hours ago, lkn said: Btw: Why is it I still have to read these stupid titles from OP when I have him on my ignore list? Yes, I had the same problem, I keep seeing some collapsed comments with their names still visible even though they are on my ignore list. The software should be changed. Link to comment Share on other sites More sharing options...
Neeranam Posted February 18, 2022 Author Share Posted February 18, 2022 17 hours ago, lkn said: Btw: Why is it I still have to read these stupid titles from OP when I have him on my ignore list? There is the option not to read it! 1 Link to comment Share on other sites More sharing options...
Myran Posted February 18, 2022 Share Posted February 18, 2022 Sure, if you have no idea what a Ponzi scheme is. 1 Link to comment Share on other sites More sharing options...
Sticky Rice Balls Posted February 18, 2022 Share Posted February 18, 2022 6 hours ago, lkn said: unsustainable and sooner or later, they will be unable to service it Reminds me of all the bar girls I see daily on my bike ride around town... Link to comment Share on other sites More sharing options...
Hummin Posted February 18, 2022 Share Posted February 18, 2022 20 hours ago, ChrisP24 said: People probably said the same things about gold thousands of years ago. Why trade food or other useful things for gold? You can't eat it, it won't keep you warm, it can't be hammered into useful tools or weapons with any degree of durability, so what good is it really? It only has value for as long as people can be fooled into thinking it has value. Thousands of years later gold hasn't become worthless yet, but at some point it will. Not during our lifetimes though so it's good enough for now and a waste of time to worry about it. As for the dollar, it will be good for as long as the U.S. stays viable. So yes be aware of history and know what can happen to the currency of any nation and keep an eye on it, but for now it is good enough. Gold is something rare and something you can hold. Gold is also a useful metal. Gold can be connected to more than one value. 1 Link to comment Share on other sites More sharing options...
Hummin Posted February 18, 2022 Share Posted February 18, 2022 2 minutes ago, Sticky Rice Balls said: Reminds me of all the bar girls I see daily on my bike ride around town... Seems you are reminding useful and sustainable where you riding around and looking at bar girls ???? Link to comment Share on other sites More sharing options...
BangkokReady Posted February 18, 2022 Share Posted February 18, 2022 Quote The US Dollar Is A Ponzi Scheme So this user posted about crypto a while ago and many people said that it sounded like a Ponzi scheme (and rightly so). Now he is posting about the US Dollar being a Ponzi scheme. Really gets the noggin joggin...???? 2 Link to comment Share on other sites More sharing options...
Sticky Rice Balls Posted February 18, 2022 Share Posted February 18, 2022 40 minutes ago, Hummin said: Seems you are reminding useful and sustainable where you riding around and looking at bar girls ???? Old city...my usual route down loy kroh-night bazaar to get my daily ego boost.. my eyes are on the road but one cant block out the cat calls--not easy being so hansum! 1 Link to comment Share on other sites More sharing options...
Sparktrader Posted February 26, 2022 Share Posted February 26, 2022 On 2/18/2022 at 3:51 AM, Walker88 said: No, it's not a Ponzi. A Ponzi Scheme is built upon the principle that a Greater Fool will bail out the creators. The creators first create buzz by letting some smallfry win a little, then when the masses get excited, they hammer as much as possible and realize their winnings. Funny thing...those 'finite' cryptos now have 9000 of the 'best' ones being posted and followed by Yahoo. Yahoo had to choose amongst the ever-growing, infinite universe of cryptos and left out another 9000 cryptos that haven't yet found their cult following. There are only about 160-180 fiats in the world, but most of them are accepted everywhere, and transactions take a microsecond, both to enter and to cancel, if one decides to do so. The financial press had an interesting article on the behavior of ethereum in the last year. It is---without meaning to be---the quintessential Ponzi. The article notes the millions of new wallets over a period when price movement was minimal. The name for that is 'distribution'. The whales are hitting the bids of the day trading geniuses. That doesn't mean the scam is finished, but it does give a clear indication of how it eventually ends. One makes a crypto in order to lure in dream buyers, then takes their accumulated wealth from them. Funny the crypto faithful don't trust governments, but have full faith in anonymous crypto creators the cult couldn't pick out of a crowd of 2. Sure, crypto creators are the salt of the Earth, the men Diogenes sought taking nightly walks with his lantern, born even without Original Sin, like Mary---pregnant while still a virgin. Ha! Govts sell bonds to fund the ponzi scheme. Link to comment Share on other sites More sharing options...
Sparktrader Posted February 26, 2022 Share Posted February 26, 2022 On 2/18/2022 at 4:16 AM, lkn said: What a ridiculous premise that title is. A ponzi is when you lure in new investors by pretending you have a business scheme going, but in fact, the money they “invest”, is used to pay a return to earlier investors. How does that map to the USD? E.g. the last time I bought USD, were the EURs I paid distributed to earlier investors that were promised some absurd yield? Btw: Why is it I still have to read these stupid titles from OP when I have him on my ignore list? Bonds Thats how the ponzi scheme is funded 1 Link to comment Share on other sites More sharing options...
Meat Pie 47 Posted February 26, 2022 Share Posted February 26, 2022 On 2/18/2022 at 11:54 PM, BangkokReady said: So this user posted about crypto a while ago and many people said that it sounded like a Ponzi scheme (and rightly so). Now he is posting about the US Dollar being a Ponzi scheme. Really gets the noggin joggin...???? Maybe he should be asking about the teflon baht but I guess he don't have the courage 1 Link to comment Share on other sites More sharing options...
Sparktrader Posted February 26, 2022 Share Posted February 26, 2022 On 2/19/2022 at 1:27 AM, Hummin said: Gold is something rare and something you can hold. Gold is also a useful metal. Gold can be connected to more than one value. Gold isnt that rare. More gets found each month. Btc is capped at 21m. Link to comment Share on other sites More sharing options...
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