8/ Gold was also the currency of all sorts of other eras where we had zero growth. Perhaps the 19th century growth was fueled by opening up an entire new hemisphere of the Earth plus also the Industrial revolution ? https://twitter.com/ITBeHa/status/1215772509854892032 …
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9/ Anyone with a mortgage would / should. https://twitter.com/spoonbandits/status/1215772918736719879 …
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10/ OK, good clarification. US fiat currency has been really good for an extremely long time. Other fiat currencies suck. Let me narrow my hypothesis to "US fiat >> gold" https://twitter.com/unhygenicmacro/status/1215773212623196164 …
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11/ yes, inflation warps the yard stick ...but so what? https://twitter.com/ITBeHa/status/1215773288837853185 …
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12/ prices are never going to be constant - you can and do have inflation or deflation on the gold standard with USD you have the target 2% +/- random error ... so no more nor less easy to calculate than with gold https://twitter.com/ITBeHa/status/1215774959634612230 …
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ⓘ Dogs don't have thumbs Retweeted John Walker
14/ I did! yep, inflation sucked.https://twitter.com/Fourmilab/status/1215776591281827841 …
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John Walker @FourmilabReplying to @MorlockP @AlanMColeDid you live through the 1970s and 1980s? Fixed 2% inflation isn't that bad, but that assumes you can keep it fixed. A pure fiat system always (well, in 40 centuries of history) runs way eventually in one direction or another, impoverishing the society.3 replies 0 retweets 5 likesShow this thread -
15/ kids these days don't get "at 19% ?!!?" https://www.youtube.com/watch?v=N5C8C1WAywU …
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ⓘ Dogs don't have thumbs Retweeted Alex R Dell
16/ If your grandparents "invested" that money by piling up pieces of paper in a stack, then they deserve that. Invest in ANYTHING. Stocks. Bonds. Real estate. Comic books. Classic cars. ANYTHING. Cash is a medium of exchange, not a store of value.https://twitter.com/AlexRDell/status/1215785932042801154?s=19 …
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Alex R Dell @AlexRDellReplying to @MorlockP @AlanMColeThe problem is that the 2% compounds. If your grandparents set aside $100k for you in the 1940s it would be worth $5k today, while goods cost 10 to 15 times what they did then. It’s just another way to force you into spending/giving money to banks to invest. pic.twitter.com/nWQuz4Fjx24 replies 2 retweets 13 likesShow this thread -
ⓘ Dogs don't have thumbs Retweeted Alex R Dell
17/ Also, dude, you're counting the inflation twice. EITHER say that it's worth X now OR say that prices have gone up. But not both, because it's the exact same thing.https://twitter.com/AlexRDell/status/1215785932042801154?s=19 …
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Alex R Dell @AlexRDellReplying to @MorlockP @AlanMColeThe problem is that the 2% compounds. If your grandparents set aside $100k for you in the 1940s it would be worth $5k today, while goods cost 10 to 15 times what they did then. It’s just another way to force you into spending/giving money to banks to invest. pic.twitter.com/nWQuz4Fjx22 replies 1 retweet 11 likesShow this thread
ⓘ Dogs don't have thumbs Retweeted Camping Roomba
18/ No, this is very very wrong. Currency is MB or M0. Around $4T. US economy is $22T (GDP, I.e. earnings) or $40T (market cap, I.e. stocks) or maybe $100T (real estate, public market cap, private firms) or maybe morehttps://twitter.com/ctdonath/status/1215822173937553408?s=19 …
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Replying to @MorlockP
is there data that informs a prediction of what inflation would look like with competing private Fiat currencies vs central government/fed control
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Replying to @MorlockP
Stable ratio to facilitate trade, not exact 1:1 dollar:value. And not a perfectly worked out phrasing.
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