The US Dollar Is A Ponzi Scheme

[lkn]

3 hours ago, Sparktrader said:

Gold isnt that rare. More gets found each month. Btc is capped at 21m.

BTC isn’t that rare, around one billion worth of coins are printed each month, and multiple billions of stable coins are additionally printed to prop up the price… but yeah, the USD is the ponzi scheme in all of this…

[Sparktrader]

1 minute ago, lkn said:

BTC isn’t that rare, around one billion worth of coins are printed each month, and multiple billions of stable coins are additionally printed to prop up the price… but yeah, the USD is the ponzi scheme in all of this…

BTC is capped at 21 million. You obviously dont know what BTC is.

[Sparktrader]

Here are key US dollar devaluation statistics:

• The dollar has lost over 96% of its value.
• $1 in 1800 is equivalent in purchasing power to around $22.13 today
• Today’s dollar would be worth less than 4 cents back in 1913.
• 1913 is when the Federal Reserve took over the US banking system.

[Sparktrader]

Usd ponzi scheme no doubt

 

96% down

 

1913 to 2022 land up ...

1913 to 2022 shares up...

1913 to 2022 gold up ..

2009 to 2022 BTC up ....

 

Fiat is the worst thing to hold

[lkn]

8 minutes ago, Sparktrader said:

BTC is capped at 21 million. You obviously dont know what BTC is.

Do you not know that 6.25 new coins are issued every 10th minute? That’s 27,000+ new coins each month. With a value of $39k per coin, that is above one billion USD worth of coins.

[Sparktrader]

4 minutes ago, lkn said:

Do you not know that 6.25 new coins are issued every 10th minute? That’s 27,000+ new coins each month. With a value of $39k per coin, that is above one billion USD worth of coins.

You don't even know what BTC is. Please.

[Sparktrader]

90% of BTC already mined. Only about 2m left.

 

 

[Hummin]

4 hours ago, Sparktrader said:

Gold isnt that rare. More gets found each month. Btc is capped at 21m.

Can you hold a Bitcoin in your hand?

 

Bitcoin is a pyramid, it only have a value as long you keep it interesting to buy, but everyone is allowed to believe whatever you like to believe.

 

Not my business.

 

Many believe in the word of god in the Torah, Bible or Quran, it doesn't mean it is true, but still have created some of the biggest flow of land and gold in the history.

 

Even Budda is big business as long people want to believe

Edited February 26, 2022 by Hummin

[Sparktrader]

3 minutes ago, Hummin said:

Can you hold a Bitcoin in your hand?

 

Bitcoin is a pyramid, it only have a value as long you keep it interesting to buy, but everyone is allowed to believe whatever you like to believe.

 

Not my business.

 

Many believe in the word of god in the Torah, Bible or Quran, it doesn't mean it is true, but still have created some of the biggest flow of land and gold in the history.

 

Even Budda is big business as long people want to believe

Can you hold an idea in your hand?

Can you hold twitter in your hand?

Can you hold google or facebook in your hand?

 

You knockers missed the boat, hence the negative comments

[Sparktrader]

Fiat is ponzi. 96% down. Yet the fools believe cause Uncle Sam says its good. Biggest Ponzi ever.

[Hummin]

1 minute ago, Sparktrader said:

Can you hold an idea in your hand?

Can you hold twitter in your hand?

Can you hold google or facebook in your hand?

 

You knockers missed the boat, hence the negative comments

When you have realized your fortune then you can talk, and you can still continue to claim you know better than us who do not believe.

 

However you all do a good job to keep the hype up. 

 

As long people believe, yes it will have a value.

 

What surprise me most, is how much you guys put in trust to a system nobody know who created!

[bbko]

Over the past few decades I'm met several Russians, and when the topic came to currency, 99.9% if not 100% of the Rooskies told me the American dollar is the best, most stable, even compared to their own Ruble.

[userabcd]

31 minutes ago, Sparktrader said:

You don't even know what BTC is. Please.

Bitcoin is something people buy using fiat when the price of them in fiat is low and continually evaluate their increase in wealth in bitcoin exchange relative to fiat. Bitcoin by themself are worthless.

Edited February 26, 2022 by userabcd

[Sparktrader]

20 minutes ago, Hummin said:

When you have realized your fortune then you can talk, and you can still continue to claim you know better than us who do not believe.

 

However you all do a good job to keep the hype up. 

 

As long people believe, yes it will have a value.

 

What surprise me most, is how much you guys put in trust to a system nobody know who created!

I dont care what you do.

[Sparktrader]

16 minutes ago, userabcd said:

Bitcoin is something people buy using fiat when the price of them in fiat is low and continually evaluate their increase in wealth in bitcoin exchange relative to fiat. Bitcoin by themself are worthless.

Half true. Fiat good for shops. Some accept BTC. Cant take a brivk ofg a house to the shops and buy bread either.

[Lacessit]

4 hours ago, Sparktrader said:

Gold isnt that rare. More gets found each month. Btc is capped at 21m.

Quite true; however, that's ignoring the fact that like bitcoin, it is getting more energy-intensive.

There was a time mining companies would not look at any gold deposit that assayed less than 10 grams per tonne. Now, they are mining 0.5 gm/tonne deposits. That's a hell of a lot of dirt to shift for very little return.

I have never made any money on bitcoin, and I don't intend to try. I don't put money into things I don't understand.

OTOH, I have never lost money buying and selling precious metals. So I'll stick to what I know.

Russia is one of the world's biggest suppliers of platinum, which has only one month's forward supply. It's essential for many catalytic processes. I'm quite happy I bought some a few months ago, when the price was down.

[Sparktrader]

Platinum is rare

[Lemsta69]

1 hour ago, Sparktrader said:

You don't even know what BTC is. Please.

please don't feed the troll ????

[lkn]

24 minutes ago, Lemsta69 said:

please don't feed the troll ????

Amazing… @Sparktrader makes it clear that they don’t understand block rewards, and I am the troll for spelling it out… just like the other thread, where a crypto-proponent thinks the blockchain holds private keys to hardware wallets and I am called clueless for recommending you have more than one copy of your private key.

 

Just confirms that these crypto proponents are brainwashed zealots, as they don’t even understand basic stuff like how the blockchain works, how ECDSA is used, nor miner incentives, but yet they think it is the Second Coming…

 

Pure madness!

[Neeranam]

1 hour ago, Sparktrader said:

BTC is capped at 21 million. You obviously dont know what BTC is.

It is estimated 30% of those 21 million have been lost. 

[Sparktrader]

2 minutes ago, lkn said:

Amazing… @Sparktrader makes it clear that they don’t understand block rewards, and I am the troll for spelling it out… just like the other thread, where a crypto-proponent thinks the blockchain holds private keys to hardware wallets and I am called clueless for recommending you have more than one copy of your private key.

 

Just confirms that these crypto proponents are brainwashed zealots, as they don’t even understand basic stuff like how the blockchain works, how ECDSA is used, nor miner incentives, but yet they think it is the Second Coming…

 

Pure madness!

I do staking 15% of other coins. Your negative remarks are just trolling. 21m btc 19m mined. 2m left. Limited supply.

 

So much negative ho hum. Dont buy it then.

 

Saying negative stuff wont make it go down.

 

Madness is posting negative stuff thinking it affects the prices lol

 

 

[Neeranam]

17 hours ago, lkn said:

Just confirms that these crypto proponents are brainwashed zealots, as they don’t even understand basic stuff like how the blockchain works, how ECDSA is used, nor miner incentives, but yet they think it is the Second Coming

 

I feel you must come onto these crypto threads to insult crypto buyers, and show off about knowing how the technology works. 

[Neeranam]

12 minutes ago, Sparktrader said:

I do staking 15% of other coins. Your negative remarks are just trolling. 21m btc 19m mined. 2m left. Limited supply.

 

So much negative ho hum. Dont buy it then.

 

Saying negative stuff wont make it go down.

 

Madness is posting negative stuff thinking it affects the prices lol

 

 

He was negative of bitcoin when it was under $100. He feels foolish so only knows to attack this if us who knows the real value of Crypto. 

[Sparktrader]

 

[Sparktrader]

Fiat ponzi

[Sparktrader]

30 minutes ago, Neeranam said:

What a condescending post this is. 

 

I feel you must come onto these crypto threads to insult crypto buyers, and show off about knowing how the technology works. 

If he was so smart he buys at 3c sells at 65,000 makes $2bn.

[ballpoint]

On 2/18/2022 at 3:53 AM, itsari said:

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. 

Russia has never tried selling oil / gas for Roubles - it's prefered "currencies" being gold and Euros, but also taking US dollars - with which it buys gold.  It has also been ditching US treasuries for a number of years now, while building up said gold reserves:

 

As Russia Dumped Its Treasuries, Here's What It Was Buying | GoldBroker.com

 

And, looking more recently:

Russian rainy day fund to get out of all U.S. dollar assets | Reuters

 

China hasn't dumped its US treasuries - yet. Doing so would cause a huge shock wave in the global market, and lead to the dollar plummeting.  So far, it's in China's interests not to do so, but it has slowed down its rate of acquiring them.  The fact is, the US government is now by far the biggest buyer of its own debt, and the gap between US owned and non-US owned debt has been accelerating since the 2008 GFC, and even more so since the beginning of the covid pandemic.  It is becoming an increasingly untenable situation for the US, as defaulting on its debt means, more and more, it will be defaulting on itself, and will itself be the single biggest casualty.

 

 

Things are so dire for the US that servicing its debt takes up over 100% of its tax revenue.  It needs to be very careful about what punishment it applies to Russia, as anything which causes a loss in tax revenue - including crashing the price of oil and gold / strengthening the dollar by a large rates hike - would in effect be strangling itself.  It already needs to print money just to pay off its non-debt bills (defense, infrastructure, education, law enforcement etc etc etc).  Needing to print even more to make up the shortfall in debt interest payments would be quickening its fall.   (The chart comes from a US macro-econimic consultancy, FFTT LLC)

 

Meanwhile, Russia and China, (and now India is getting in on the act as well) are negotiating major contracts, including oil and gas imports / exports in a combination of gold and their own currencies, thus bypassing the whole Petrodollar agreement.  Russia is already selling much of its gas to the EU in Euros, and exporting to many other countries in return for gold. When it is paid in US dollars, it is immediately converting those to gold:  

Grandmaster Putin's Golden Trap | Gold Eagle (gold-eagle.com)

 

China too has made a deal with Saudi Arabia to pay for oil in Yuan credits, with the excess paid in gold.  (And the Saudis have effectively snubbed the US in favour of China when they refused to heed calls to increase production recently).  It is therefore in the US interest to try and collapse the gold price, but, as in the previous point, this could be highly detrimental to the US, and the world has effectively voted for who they are backing:

 

The US is in a dilemma of its own making, and is facing the same situation the UK was in during the Suez crisis, when, ironically, the US forced it to make an embarrassing withdrawal by threatening to cause a run on the Pound, something that it really never recovered from, much to the US's advantage.  The US is becoming increasingly cornered, with many nations unable or simply unwilling to follow its financial lead.  As President Obama said, referring to US declared sanctions on Iran back in 2015:

"We cannot dictate the foreign, economic and energy policies of every major power in the world. In order to even try to do that, we would have to sanction, for example, some of the world's largest banks. We'd have to cut off countries like China from the American financial system.
And since they happen to be major purchasers of our debt, such actions could trigger severe disruptions in our own economy, and, by the way, raise questions internationally about the dollar's role as the world's reserve currency. That's part of the reason why many of the previous unilateral sanctions were waived."

 

He was echoing a statement made by Col. Lawrence Wilkerson, the former Chief of Staff to US Secretary of State Colin Powell, on the aims of certain "non-friendly" countries in 2014:
"What they want to do is use Putin and others’ oil power, Petrodollars if you will, and I say that PetroYuan, PetroRenminbi, PetroEuro, whatever, to force the United States to lose its incredibly powerful role of owning the world’s transactional reserve currency".

 

The West has so far been united in appying certain sanctions to Russia, but some big players - mainly China, Saudi Arabia and India, are refusing to follow.  Given that Russia is the largest energy exporter in the world, it will be interesting to see how long it takes for other countries to join them.  Afterall, a recent US geological survey concluded that "The world will not be able to survive if oil and gas from Russia is subtracted from the global balance of energy supply".  So far, energy exports have not been covered by any sanctions, highlighting both their importance to the world, and the toothlessness of any political measures.  

 

About 75% of the world's population, and the majority of its wealth, are located in Eurasia.  A pact by China, Russia, India and Saudi Arabia would control much of that population and wealth, along with its, and the world's energy supply.  They have already made clear their aim is to make a new global reserve currency, not beholden to any one nation, but rather, gold based.  Should Putin install a puppet regime in Ukraine and rapidly withdraw, the need for Russian gas imports may be too big a drawcard for many European nations, and they might just join them.  There are already sour feelings about the US trying to dictate European policy on the Nordstream pipelines, and President Trump's position on many of his European allies, which could just tip the cart.  Of course, any prolonged occupation of Ukraine, and / or a continued push into Eastern Europe would mean all bets are off.  But then the world would have far greater things to worry itself about.

 

 

 

 

[Hummin]

2 hours ago, Sparktrader said:

I dont care what you do.

Still do not comment of 

 

2 hours ago, Hummin said:

 

 

What surprise me most, is how much you guys put in trust to a system nobody know who created!

I know you do not care, but still curious about my coment about nobody knows who created bitcoin, and why let it out on the marked without protecting his/their rights to the invention!

 

2 hours ago, Sparktrader said:

I dont care what you do.

Where is your common sense?

[Sparktrader]

29 minutes ago, Hummin said:

Still do not comment of 

 

I know you do not care, but still curious about my coment about nobody knows who created bitcoin, and why let it out on the marked without protecting his/their rights to the invention!

 

Where is your common sense?

What are you talking about? I dont know who invented beds yet I use one.

 

Common sense tells you fiat is ponzi. Devalued every year. Money printing excessive.

 

I could careless who invented stuff.

 

 

[Sparktrader]

Some aussie bloke claims he invented it. Other theories Japanese guy or guys. Who cares. 95% of the products you use yiu dont know who invented them.