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  1. #91
    Senior Member BAJ's Avatar
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    Apparently the S&P fell 600 points or something. Did billions of dollars of widgets suddenly burn up? No. How people felt about it changed.

    Did the government sit down and figure out how to pay the debt? No, they took a small sliver out of the projected rate of increase or some shit. It does not matter. The politicians are pawns of the wealthy and the powers that be. So it doesn't matter...

  2. #92
    nee andante bechimo's Avatar
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    Quote Originally Posted by BAJ View Post
    It doesn't matter. I'm a mystic.
    I see. So what is important to you is all that matters. Right.

  3. #93
    ^He pronks, too! Magic Poriferan's Avatar
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    Quote Originally Posted by DiscoBiscuit View Post
    And I wonder which bar would be higher if you did that for those making under that much.
    Why wonder about these things when so much research has been done to get to the real point here?

    Wealth, Income, and Power.
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  4. #94
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    Quote Originally Posted by Jenaphor View Post
    Right, so every merchant and business person needs to buy weight scales, precious metal purity testing equipment and be able to peg precious stones for valuation and also be able to accommodate a variety of currencies, pegging them for daily exchange rates.

    Like I said, he's delusional.
    Theres nothing delusional here. Europe had it's own exchange of currencies, and geographicly its quite smaller compared to all the states. Besides the exchanges would be allot more stable, considering they are hard assets which aren't so subject to politics and debt.
    If communities want to choose to mint their own coins, they could do so without getting arrested. There are scanners which already can test purity. Counterfeit happens anyway with paper money, and measures against it are always developed. Theres nothing stopping from technology getting developed for precious metal coins, since there will be a demand for it.

  5. #95
    my floof is luxury Wind Up Rex's Avatar
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    Quote Originally Posted by Huxley3112 View Post
    Here is my question. Since our credit rating is now downgraded.. does this affect how the US dollar is considered the standard unit of currency in global commodity markets? Do we lose our place for having the rest of the worlds currency pegged to the dollar? How does that happen if it happens? And what would it mean?
    These are good questions. I will attempt a muddled response.

    I would think that since the dollar is relied upon so heavily as a reserve currency globally the immediate and practical effect of of the credit downgrade will be negligible. The value of a reserve currency is based in part on the perceived risk associated with investment in a particular country. While we're no longer considered a perfectly safe investment, we're either comparable or better than everyone else out there. It would take something truly catastrophic in order for the USD to be suddenly supplanted as the preferred global reserve currency. If it were to happen, I would assume it to be concurrent with the collapse of the global economy itself and the coming of the zombie apocalypse.

    Anyways, these are a couple article that explains all this a lot better than I can.

    How S&P's US Downgrade Will Change the Global Economy
    Dollar STill Preferred Reserve Currency Despite Holdings Drop
    And so long as you haven’t experienced this: to die and so to grow,
    you are only a troubled guest on the dark earth

  6. #96
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    The drop in the stock market is not particularly a reaction to what happened on the debt ceiling, more so what they did not do....and what is going to happen in a few months time. QE3 or something like it. I heared said that the stock market is usually looking 6 months into the future

  7. #97
    nee andante bechimo's Avatar
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    Quote Originally Posted by Tantive View Post
    Theres nothing delusional here. Europe had it's own exchange of currencies, and geographicly its quite smaller compared to all the states. Besides the exchanges would be allot more stable, considering they are hard assets which aren't so subject to politics and debt.
    If communities want to choose to mint their own coins, they could do so without getting arrested. There are scanners which already can test purity. Counterfeit happens anyway with paper money, and measures against it are always developed. Theres nothing stopping from technology getting developed for precious metal coins, since there will be a demand for it.
    Silver's doubled in value in the past year and gold has doubled in the past 3 years or so. Consider the penny. The copper's worth more than a penny. Not pragmatic.

    Don't know if you follow any history but when coins were used in the past instead of paper money, as currency, people used to shave them. Same goes with different mints where some were considered more legit than others due to purity. These scanners. Are they external purity scanners or do they also verify if there's lead or other forms of metal materials internally?

  8. #98
    Senior Member BAJ's Avatar
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    Quote Originally Posted by Jenaphor View Post
    I see. So what is important to you is all that matters. Right.
    Of course!

    Honestly I recently got TV, and I was looking at the news today, but I had a sudden craving for a can of food that I bought a few days ago. I missed like half the national news looking for it. I also didn't find my can of food, so niether thing mattered. I ate something else.

    I think what is needed is something outside the box, not two people trapped in boxes slinging mud. Each side believes it's very right.

  9. #99
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    Quote Originally Posted by Jenaphor View Post
    Silver's doubled in value in the past year and gold has doubled in the past 3 years or so. Consider the penny. The copper's worth more than a penny. Not pragmatic.

    Don't know if you follow any history but when coins were used in the past instead of paper money, as currency, people used to shave them. Same goes with different mints where some were considered more legit than others due to purity. These scanners. Are they external purity scanners or do they also verify if there's lead or other forms of metal materials internally?
    It's not the gold/silver/copper coin wich increased in value, it's the paper currency which was devalued. Meaning the prices of the coin would relativly be the same to assets and commodities, while prices keep rising in terms of paper currencies.
    To prevent shaving, they usually had the edges patterned so you could see when damage was done.
    There are scanners which can scan all kinds of different metals, then theres also weight.
    They haven't combined them all in one machine yet, though seperatly they exist.
    It's a matter of the demand of this technology

  10. #100
    nee andante bechimo's Avatar
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    Quote Originally Posted by Tantive View Post
    It's not the gold/silver/copper coin wich increased in value, it's the paper currency which was devalued. Meaning the prices of the coin would relativly be the same to assets and commodities, while prices keep rising in terms of paper currencies.
    To prevent shaving, they usually had the edges patterned so you could see when damage was done.
    There are scanners which can scan all kinds of different metals, then theres also weight.
    They haven't combined them all in one machine yet, though seperatly they exist.
    It's a matter of the demand of this technology
    That's somewhat inaccurate. Take silver. Price doubling in one year doesn't mean the USD devalued by 50%. It's supply and demand that drives the price of commodities, as well as dollar fluctuation. Same goes for gold and its doubling in the past three years. People run up the price of precious metals when they're not feeling terribly secure with the hopes that if they lose something, it won't be all.

    This is a massive upheaval of technological upgrades, minting communities, drain on precious metals supplies, rejuggling of economic trading practices, you name it and it's got to be converted over, which includes needing body guards if you want to buy anything substantial since you're dragging around a chest. Like I said, Ron Paul is delusional and is isolationalist in thinking.

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