Thank you so much for this amazing video! I need some advice: I have a SafePal wallet with USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). How can I transfer them to Binance?
I don’t look at BTC as volatile. Every four years it reaches a bottom point and it’s always higher than the previous bottom point. Irrespective of bitcoin going up and up in value it has a great use for people fleeing a dangerous government/country. You can’t carry much gold but you can carry your seed phrase in your head, no matter one bitcoin or 100.
Humans ruined it by over borrowing against it! Hence, the dropping of the Bretton Wood agreement in 1971, which was the start of the Western Fiat currencies decline, and now the end has come! If no-one in the financial markets could not see this coming and prepared for it, then shame on you!
@@stephenyoung8429 "1971, which was the start of the Western Fiat currencies decline" The inflation-adjusted USD peaked right around 1895. The decline since has been more or less steady. Yet it's still here, and in great demand for at least a while longer.
@@spiritofgoldfish not true. When you debase your currency, spend more then you earn, that is the end. Gold holds its value, every civilization failed once they left an anchor to the currency. Why did the deep state kill Gaddafi? He wanted a national gold backed currency and divorce from the heavily manipulated US dollar. Simply put-if the deep state wants it, that’s a true sign it isn’t good for you.
There wasn't hyperinflation after WWII, when USA debt to GDP peaked at levels similar to now. The USD did not collapse. Asset bubbles generally correct without the underlying currency failing -- even currencies far less in demand than the USD.
You have to add that US practiced financial repression after WW II. It kept interest rates far below inflation rate. It had a gold backed dollar as the dominant world currency. So it is a poor parallel to the situation today
@@demonridera The situation today is hundreds of UA-cam channels predicting the imminent collapse of the USA economy or the USD or Western culture in general. Day after day, year after year. Sympathies to anyone who's made their investment moves accordingly. I personally don't put as much stock as some others in the significance of a gold standard or not. Real USD peaked right around 1895, and has been in a fairly steady decline ever since. Meanwhile, tying a huge economy to a finite commodity is a prescription for eventual monetary constraint on economic growth which just builds and builds. Fiat seems to work much better, so long as it matches productivity growth and is "backed" by things like stable, predictable rules and laws. So far my view seems to be shared by the worldwide investment community (vs the above UA-cam opportunists). No question, however, that this time may end up being different. If the USA congress doesn't sooner than later address the present trend, then it might indeed be "Look out below!" ... someday.
@@demonridera (Oops -- my reply was somehow deleted. Fortunately I kept a copy) The situation today is hundreds of UA-cam channels predicting the imminent collapse of the USA economy or the USD or Western culture in general. Day after day, year after year. Sympathies to anyone who's made their investment moves accordingly. I personally don't put as much stock as some others in the significance of a gold standard or not. Real USD peaked right around 1895, and has been in a fairly steady decline ever since. Meanwhile, tying a huge economy to a finite commodity is a prescription for eventual monetary constraint on economic growth which just builds and builds. Fiat seems to work much better, so long as it matches productivity growth and is "backed" by things like stable, predictable rules and laws. So far my view seems to be shared by the worldwide investment community (vs the above UA-cam opportunists). No question, however, that this time may end up being different. If the USA congress doesn't sooner than later address the present trend, then it might indeed be "Look out below!" ... someday.
Insightful episode!
Thanks! - Enjoying the video!
Thank you so much for this amazing video! I need some advice: I have a SafePal wallet with USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). How can I transfer them to Binance?
I don’t look at BTC as volatile. Every four years it reaches a bottom point and it’s always higher than the previous bottom point. Irrespective of bitcoin going up and up in value it has a great use for people fleeing a dangerous government/country. You can’t carry much gold but you can carry your seed phrase in your head, no matter one bitcoin or 100.
Why would a gold standard end up any better next time than it is ending up now?
Humans ruined it by over borrowing against it! Hence, the dropping of the Bretton Wood agreement in 1971, which was the start of the Western Fiat currencies decline, and now the end has come! If no-one in the financial markets could not see this coming and prepared for it, then shame on you!
@@stephenyoung8429 The gold standard fails over and over again, and humans keep going back to it.
@@stephenyoung8429 "1971, which was the start of the Western Fiat currencies decline" The inflation-adjusted USD peaked right around 1895. The decline since has been more or less steady. Yet it's still here, and in great demand for at least a while longer.
@@spiritofgoldfish not true. When you debase your currency, spend more then you earn, that is the end. Gold holds its value, every civilization failed once they left an anchor to the currency. Why did the deep state kill Gaddafi? He wanted a national gold backed currency and divorce from the heavily manipulated US dollar. Simply put-if the deep state wants it, that’s a true sign it isn’t good for you.
The gold standard didn't fail, fiscally corrupt governments failed
There wasn't hyperinflation after WWII, when USA debt to GDP peaked at levels similar to now. The USD did not collapse. Asset bubbles generally correct without the underlying currency failing -- even currencies far less in demand than the USD.
You have to add that US practiced financial repression after WW II. It kept interest rates far below inflation rate. It had a gold backed dollar as the dominant world currency. So it is a poor parallel to the situation today
@@demonridera The situation today is hundreds of UA-cam channels predicting the imminent collapse of the USA economy or the USD or Western culture in general. Day after day, year after year. Sympathies to anyone who's made their investment moves accordingly.
I personally don't put as much stock as some others in the significance of a gold standard or not. Real USD peaked right around 1895, and has been in a fairly steady decline ever since. Meanwhile, tying a huge economy to a finite commodity is a prescription for eventual monetary constraint on economic growth which just builds and builds. Fiat seems to work much better, so long as it matches productivity growth and is "backed" by things like stable, predictable rules and laws. So far my view seems to be shared by the worldwide investment community (vs the above UA-cam opportunists).
No question, however, that this time may end up being different. If the USA congress doesn't sooner than later address the present trend, then it might indeed be "Look out below!" ... someday.
@@demonridera (Oops -- my reply was somehow deleted. Fortunately I kept a copy) The situation today is hundreds of UA-cam channels predicting the imminent collapse of the USA economy or the USD or Western culture in general. Day after day, year after year. Sympathies to anyone who's made their investment moves accordingly.
I personally don't put as much stock as some others in the significance of a gold standard or not. Real USD peaked right around 1895, and has been in a fairly steady decline ever since. Meanwhile, tying a huge economy to a finite commodity is a prescription for eventual monetary constraint on economic growth which just builds and builds. Fiat seems to work much better, so long as it matches productivity growth and is "backed" by things like stable, predictable rules and laws. So far my view seems to be shared by the worldwide investment community (vs the above UA-cam opportunists).
No question, however, that this time may end up being different. If the USA congress doesn't sooner than later address the present trend, then it might indeed be "Look out below!" ... someday.
You cannot compare the two finance climates. We have a Global fiat crisis now, problems were a lot more local back then.