• shortwavesurfer@lemmy.zip
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    5 days ago

    As much as this sucks, I’m kind of, quite frankly, okay with it. Because I’ve decided that holding fiat currency isn’t worth doing. I hold my money in real hard money and then only convert what I need back to fiat when I need it.

    They can bail out and inflate all they want, but they’re not going to be able to reduce my purchasing power.

    I don’t know who will pay the bill for it, but I do know that it won’t be me.

    • phutatorius@lemmy.zip
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      2 days ago

      People who witter on about fiat currency don’t have any explanation of why the alternatives have more of a claim to value.

      I hold my money in real hard money

      See how hard that money is after an exit scam or a rug pull.

    • bedwyr@piefed.ca
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      5 days ago

      Well keep in mind gold mining is incredibly destructive, poisoning the land. The illegal mining uses a lot of mercury, the large gold mines harvest ores whereby they use cyanide or something to seperate the gold, and in the process free a bunch of arsenic and such.

      Silver is better I think. Also though, gold is way overpriced it would appear, 3,000 some dollars an ounce, it was less than 100 in 2001.

      The traditional value of gold is one for every 15 silver, if the ratio is off, you aren’t getting great value.

      But what could be the best, would be metals like platinum and pallidium, which have actual uses as catalysts in chemical processes.

      • phutatorius@lemmy.zip
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        2 days ago

        The traditional value of gold is one for every 15 silver, if the ratio is off, you aren’t getting great value.

        The traditional value of buggy whips was stable until there was no longer any demand for them.

        The value of gold in Spain in the 16th century went down the shitter and there was hyperinflation of gold-based currency, because of the flood of gold looted from the Americas.

        Traditional ratios are meaningless rules of thumb with no basis in fact.

        There is no such thing as intrinsic value.

        • bedwyr@piefed.ca
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          2 days ago

          I disagree and think those ratios do exist, and when they are off it shows a problem brewing in the economy. It is way the fuck off now, and shit is about to crash in case you didn’t realize that.

          But regardless, gold sucks, silver better, as gold is overvalued now.

      • shortwavesurfer@lemmy.zip
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        5 days ago

        The smallest amount that I can, since I know that it will be wasted.

        But only just enough to keep thugs from showing up at my door with weapons and throwing me in a cage which is something that states seem to enjoy doing.

        Give unto Caesar what is Caesar’s. They print fake currency, and therefore, if they want fake currency, I’m willing to give it to them, and keep the rest of my money in actual things that hold value.

        • dreamkeeper@literature.cafe
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          5 days ago

          Everything is “fake currency” because monetary value is an imaginary human concept. So sick of reading people’s dumb arguments against fiat currency.

        • baggachipz@sh.itjust.works
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          5 days ago

          I mean, we all pay the minimum possible. My point is you have no real choice in funding this which should enrage everyone.

          • shortwavesurfer@lemmy.zip
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            5 days ago

            I mean, I just forget about it, because I know for a fact that when I pay taxes, it’s going to be wasted. So, it’s just a write-off. That does not mean that I’m going to hold the rest of my wealth in their failing fiat currency that they can inflate away at any time for a bailout, which is also another form of tax.