You again....
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by TaKunCat
An interview with someone who says his motivation is not profit. People like this are hard to explain because their does not appear to be a logic that fits with what I already know. I tried to tell people previously about this and it was difficult because to explain reasoning I really had to shed reason. One thing I can relate to however is the desire to teach people we might have that in common but again that may be an assumption. It is hard to measure success when the goal is FAIL. Everyone watch and see if you can see the lesson to be learned because either way there is one. Previously this person was partly responsible for the move from 0.03 to 0.028 but that is also CBO that helped. Buying USD from CBO and buying gold seems to be the major tactic involved in the past. Having brought you up to speed enjoy my hostile conversation semi-interview.
TKC: I will give you credit for one thing. I think you made the decision makers think they had more revenue stream than they actually did. You can't make money like that. and you don't seem to understand that there is a gold standard.
BS: My goal isn't to make money.
TKC: why were you selling gold when I first saw you?
BS: I was most likely selling Gold to bridge a gap in the price structure.
But now, that gap is gone..
If anybody wants to see the USD float back to 0.028, they better have vast supplies of Gold. The US Government thinks they are masters of their currency's
valuation. How wrong they are...
TKC: I think you can open up a gap and go so far but you are a quite secondary. of course you can open up gaps and devaluate an increment at great expense but that is it. Taxes take money out of the system every day. CBO isn't following you down any more you are just deciding to take on a percentage of the tax burden and I say good luck to you in this task. My guess is that you are simply frustrated by pegs and want to engage in speculation because you don't understand the new rules of MM. I can tell you that they have learned one lesson from you but that is a lesson I tried to tell them long ago. Your temporary devaluating a currency does not make USA loose money. It does not increase printing costs. It does not open the gap wider after emergency war fund gathering, and it does not hurt revenues. It does not scare off investors because I know where the peg is and holding USD makes a good investment once you start. "it's a good thing" How wrong you are.
BS: "Your temporary devaluating a currency does not make USA loose money. It does not increase printing costs. It does not open the gap wider after emergency war fund gathering, and it does not hurt revenues. "
But what it does do is inflate the currency in the economy.
TKC: and that does what??? think it through and get back with me. I see it affecting sales because of sticky prices. Is that good or bad or neither?
BS: Its impact is bad for the economy. 🙂
TKC: People do not flea from a currency in erepublic and there is no such thing as inflation in the long term and certainly no such thing as hyperinflation. Currencies are less interchangable mechanically. People do not abandon local currency for harder currencies there is a gold standard that is imposed on even the stupidest government it is called printing costs.
you are almost on my side but you seem to be lacking.
please explain that statement. "Its impact is bad for the economy. 🙂
" how so?
BS: No such thing as inflation or hyperinflation? lol
I see by your birthday, you weren't around in 2008 when Turkey has massive hyperinflation. lol
Keep your pen handy, your theories are about to be rewritten.
TKC: I didn't say there was no such thing as inflation. I have heard of inflation on RSD due to a bug. There will be no need for USD to print more money and unless you have a bug hack I seriously doubt it. I am not even afraid of taunting you because I will so make money off you even if you caught me a bit flat footed. You are seriously missing some major steps in your reasoning.
BS: Heheehheeh.... Enjoy the profits you'll earn.. Like I said, my motivation has nothing to do with profits. 🙂
Make sure you help arbitrage all the suckers who post Gold below 38.461
(note 38.461 is 1/0.026) I haven’t got much to say about this but everyone enjoy the free ride. I think he is a bit loony but he does respect sound money so I can’t bring myself to laugh at that. If he does something magical we can give him all the credit because I am just going to take advantage of him, and we will perhaps find out what BS truly stands for. I doubt he has a problem with making his goals known. It doesn’t appear to be a sneak attack or anything and he seems proud of it. If anyone wants PM to be taken literally as private message in the future perhaps you should tell me that. I didn’t technically ask permission, this is not technically something I would hold up as an example of journalism. Enjoy the facts of a simple private conversation.
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Ah, Alby, "master of Austrian" economics. He was basically laughed out of the country after every one of his predictions failed.
He is not the master of Austrian economics. I am. By the way everyone, it hurt to use the term "sticky prices" I don't care much for Keynes.
While Woxan put me on the subject it seems I neglected to state that his goal seemed to be to get the Government to put gold out on the market.
I would be cool with that but one thing that people don't seem to understand is that USD IRL and in game are on a "gold standard" Gold is just one commodity but you must use such a standard to regulate "printing" actually releasing of currency. The gold standard was always simply a market driven measurement that stopped working when the governement ran out of gold anyway. It doesn't matter if the government runs the market or if they consult the private sector's version of the market It is the same independant standard. If you respect Austrians you need to understand what they were actually saying.
>master of Austrian economics
http://www.youtube.com/watch?v=d0nERTFo-Sk" target="_blank">http://www.youtube.com/watch?v=d0nERTFo-[..]o-Sk
I am liking the link I assume you are saying you are really great but the arguement is settled. You should take a side when speaking here your stand is quite unclear.
Saving hurts nothing because the remaining money is simply worth more. People should keep in mind that while we look at Taxes as diverting resources from people it is actually spening that diverts resources from the people. I like inflation to be near zero but imagining otherwise: if a government did not spend money you wouldn't have to compete with it over resources and everything would be cheaper relative to a unit of money. You can buy the same amount with your resources even if you are all taxed the same or not taxed at all. Technically spending diverts resources and taxes kinda control inflation.
It is good to also note that you cannot creating demand without creating more supply of the thing people want. It matters what people make and how much there is that is what determines wealth. Productivity is the end all and be all of economics and money it is simply a means to match up trades. Don't be confused by the numbers in between. Spending more money doesn't mean you are buying more value. Money must be spent by people who produce properly to dirrect the economy in the dirrection that suits them to encourage positive behavior. Bad and good investments matter and if you didn't earn the money you aren't smart enough to invest it unless you can convince those who did to invest with you. Generally speaking stimulous is spend to support the part of the economy where business should be dying slowing down the recovery and lengthing the pain.
the usd is not backed by gold anymore, in fact this is not commonly know to Americans ether, the currency no longer states that it is backed by gold but instead now says in god we trust. basically we have a system that only results in inflation because we use paper money to pay for paper money..... really we are in debt as soon as money is printed, and without being backed by gold we are giving paper for paper..... i swear if we find a shining rock and call it money instead we would be better off.lol
that's why in the 50's you could buy a bag of candy for less than a nickel but now it cost a buck fifty for a payday, lol
You just ignored me a bit there hunterinmck I think you would do well to review how the fed determines policy. You will find that Gold is one of the consulted goods. It is independant of whim. A classic gold standard is a consulted market as well in which people must stay within narrow parameters. It is the same thing. There is no Austrian who is going to tell a goverment that they should deflate a currency to go back to parity with where a currency inflated from. Your point is not relevant about 50's prices. Also you acknowledge other standards of value in other commodities such as bags of candy otherwise you again have no point. I suggest that acceptable inflation is dependant on the time value of money. Inflation of 3000% as you talk about is not possible in this game game mechanics don't allow it. We are in fact on a gold standard. Thank you for reading though.
Props to TKC.. eUSA is on a Gold Standard. But what's missing is "😉a Gold". The USD cannot hold onto an arbitrary price target of 0.028/Gold unless somebody is willing to buy USDs with Gold for some amount above 37.037/USD.
That said, when the CBO says the fixed rate of the USD is 0.028/Gold and they start selling USDs for 0.028/Gold, its a joke. What you sell dollars for means absolutely nothing with respect to valuation. Its only what you backup the currency with that determines its valuation.
So until the CBO decides to start putting its Gold where its mouth is, expect more currency valuation hell to follow. 🙂
I have no problem with posting gold. I think there is a major disconnect that they think if they put up gold they might not get it back. It however does increase flow because people have to get those dollars from CBO instead of somewhere else. I cannot defend that stance.
You are proving your point so to speak by throwing away money. I contend that it actually doesn't hurt and you are not . you are just matching taxes. I would complain if they allowed you to execute a gap attack which you sorta are at the moment.
It is hard to make a case amongst this mess but I don't agree that not undercutting the price when you are the only one who can is a peg. You do not technically undercut. Government, though I don't like it, does support the dollar by accepting it though taxes. That is a market.
I contend it is hypocracy. You do not post new USD just like they don't post gold. IF they post 15 gold you will not be satisfied will you? do they have to post 100% of what is necessary to buy back the USD? 50%? 25%? 1%? it is not the amount of gold it is responding to a market driven force that makes money not fiat money. Point not taken. You can't prove that CBO doesn't buy up USD at 0.027. If they did post gold you could just cancel them out at great expense and it would disappear. everything that you say that they should do they are doing. Not voted unsubscribed!
oh wait, it is my newspaper.
Every dollar that exist should be backed up by Gold. Instead, the Government Prints Money and in turn sells it to the public for Gold. Thus taking that Gold and using it for whatever political purposes, while leaving Citizen Joe holding the bag of worthless money.
In effect, the Government has orchestrated process by which they take from citizens and offer nothing in return. Should events transpire in which USD owners begin running from the currency, the Government has absolutely no power in which to defend the currency. As a result, I intend to exacerbate the issue by pumping as many USDs into the economy until it reaches a breaking point. Either 1 of 2 things will transpire. Either the Government is forced to use its gold to defend the currency (thereby ruining its operation of selling newly minted dollars for Gold) or the Government will jealously hold onto its Gold while the currency falls into the abyss.
Overall, somebody is going to say Uncle. Be it either the suckers who keep putting up their Gold and having it get taken in exchange for as many dollars the Government can print until folks begin selling at lower and lower levels to get their Gold back. Or Uncle Sam decides to step in and put down a floor of Gold to defend the Nation's Currency.
Yeah, no. You can either print money with a bug or you will go bankrupt. when you get to 0.014 you will be matching the taxes paid by the eusa. 50% value is not possible. as money becomes less valuable tax revenue will go up in terms of unit dollars. We have seen the worst you can do. Furthermore your expectations are impossible because the government cannot be expected to hold enough gold to buy every last penny in case the country gets taken over. You are no austrian, you are no teacher. You should present expections that are possible if your goal is to influence behavior.
So Be It. The die has been cast and we shall see who prevails.
I hope the CBO puts some more money up, I'm having withdraw symptoms right now...