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DanielleFong's profile
𝓓𝑎𝑛𝑖𝑒𝑙𝑙𝑒 𝓕𝑜𝑛𝑔, 𝕖𝕩-𝕡𝕣𝕠𝕕𝕚𝕘𝕪
𝓓𝑎𝑛𝑖𝑒𝑙𝑙𝑒 𝓕𝑜𝑛𝑔, 𝕖𝕩-𝕡𝕣𝕠𝕕𝕚𝕘𝕪
𝓓𝑎𝑛𝑖𝑒𝑙𝑙𝑒 𝓕𝑜𝑛𝑔, 𝕖𝕩-𝕡𝕣𝕠𝕕𝕚𝕘𝕪
@DanielleFong

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𝓓𝑎𝑛𝑖𝑒𝑙𝑙𝑒 𝓕𝑜𝑛𝑔, 𝕖𝕩-𝕡𝕣𝕠𝕕𝕚𝕘𝕪

@DanielleFong

𝔞 𝔟𝔩𝔞𝕤𝔱 𝔣𝔯𝔬𝔪 𝔱𝕙𝖊 𝔭𝔞𝔰𝔱 𝕝𝕖𝕧𝕖𝕝 𝟛𝟚 𝕤𝕠𝕣𝕔𝕖𝕣𝕖𝕤𝕤, 𝕙𝕒𝕣𝕕𝕔𝕠𝕣𝕖 𝕞𝕠𝕕𝕖

.earth  🌎
daniellefong.com
Joined February 2008

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    1. MjolnirTech‏ @MjolnirTech Mar 21
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      Replying to @MjolnirTech @learning20201 and

      And the apple would now be 8 inches tall. But the apple did not change, just the measurement. Therefore the inch would 'mean' less. This, basically, is what inflation is. If the Gov't creates too much money, the unit becomes meaningless. 7/

      1 reply 0 retweets 1 like
    2. MjolnirTech‏ @MjolnirTech Mar 21
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      Replying to @MjolnirTech @learning20201 and

      This is what they mean by 'printing' more money. It matters not if its physical or electronic, the effect is the same. If the Gov't continues to create more money then we lose faith in the unit. Again, think of the apple. 8/

      2 replies 1 retweet 1 like
    3. MjolnirTech‏ @MjolnirTech Mar 21
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      Replying to @MjolnirTech @learning20201 and

      Last week the apple was 4" tall. Yesterday the Gov't decides to cut the inch in half and it became 8" tall. Today the cut it again and its now 12" tall. How tall will it be next week? At some point you may realize that you will have more money if you don't sell the apple. 9/

      1 reply 0 retweets 0 likes
    4. MjolnirTech‏ @MjolnirTech Mar 21
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      Replying to @MjolnirTech @learning20201 and

      This is what happened in Germany in the 30s. If trust in the stability of the dollar declines the economy suffers and people will start using other measures to value the product. So, maybe we don't know how many inches tall the apple will be next week but we... 10/

      1 reply 0 retweets 0 likes
    5. MjolnirTech‏ @MjolnirTech Mar 21
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      Replying to @MjolnirTech @learning20201 and

      do know that it will still be about 10cm tall. So, if I'm going to sell my apple, i trust the metric system more than the imperial one. This is how you destabilize a currency and supplant it with another one. 11/

      1 reply 0 retweets 0 likes
    6. MjolnirTech‏ @MjolnirTech Mar 21
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      Replying to @MjolnirTech @learning20201 and

      Of course, some fluctuations are inevitable but maintaining trust is critical. Since the economy is debt based like described, the economy and GDP must grow and that means more money must flow in. The comparative rate of money generation to GDP is the inflation. 12/

      1 reply 0 retweets 0 likes
    7. MjolnirTech‏ @MjolnirTech Mar 21
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      Replying to @MjolnirTech @learning20201 and

      Since the entire thing is arbitrary and based on faith the Gov't can do whatever it wants with the dollar so long as we believe it is stable. So, they increase amount of money incrementally and tell us it is growth and the value is stable and strong. 13/

      1 reply 0 retweets 0 likes
    8. MjolnirTech‏ @MjolnirTech Mar 21
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      Replying to @MjolnirTech @learning20201 and

      Over time our accounts increase and maybe our checks go up and we believe that we have more buying power. Then costs go up and it cycles. There is a lag at each step and this is where the faith hides the value changes. 14/

      2 replies 0 retweets 0 likes
    9. Covered Dish People‏Verified account @doctorow Mar 21
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      Replying to @MjolnirTech @learning20201 and

      So literally all of this is addressed by the lecture you didn't watch before you sent 14 tweets about why it was wrong.

      2 replies 0 retweets 1 like
    10. MjolnirTech‏ @MjolnirTech Mar 21
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      Replying to @doctorow @learning20201 and

      I said i didn't watch the video, I said I read the thread. I was responding to the thread and the implications that the thread had. I stand by my statements.

      3 replies 0 retweets 1 like
      𝓓𝑎𝑛𝑖𝑒𝑙𝑙𝑒 𝓕𝑜𝑛𝑔, 𝕖𝕩-𝕡𝕣𝕠𝕕𝕚𝕘𝕪‏ @DanielleFong Mar 21
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      Replying to @MjolnirTech @doctorow and

      context is very hard in these threads

      12:38 PM - 21 Mar 2020
      • 2 Likes
      • NOW what?!? MjolnirTech
      1 reply 0 retweets 2 likes
        1. MjolnirTech‏ @MjolnirTech Mar 21
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          Replying to @DanielleFong @doctorow and

          I apologize if I was unclear. I felt that I covered that in the beginning, but I guess I did not do so sufficiently. I even attempted to soften my statements by saying that I feel there are some issues. If these are not issues, then, there is no problem.

          0 replies 0 retweets 0 likes
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