Banking… how things have changed

[Hay Dude]

Amazing to see how rapidly the dollar is declining as the most widely accepted “worlds currency”.
Once it’s no longer holds the title the worlds currency, we will become much poorer.

Gold is selling like never before. China & India and even some American banks are buying gold in record amounts.

I own physical gold & silver and sleep much better knowing that. Paper dollars, now changed to electronic digits, are just fiat money and the authoritarians in charge can turn that on/off anytime they wish.

 

[riptides]

Interest rates are too high, gold will not be as lucrative to investors as you may think.

 

[Hughman]

Anyone have a business account with a Credit Union?

I'm using Keypoint CU (south bay area) for several business accounts. I know they have a branch in Dublin. Not sure about Oakland.

 

[Snobdds]

The dollar is loosing reserve status of the world due to the value of the dollar decreasing.

When you prints trillions of dollars, the intrinsic value of the dollar declines. You can't have inflate your way out of value. Value is created from supply constraints.

 

[Snobdds]

Has @rswyan left the chat?

It's been awhile since he challenged me and I feel he gave up so easy.

 

[NoTrespassing]

The dollar is loosing reserve status of the world due to the value of the dollar decreasing.

When you prints trillions of dollars, the intrinsic value of the dollar declines. You can't have inflate your way out of value. Value is created from supply constraints.

Warren isn't worried..."We are the reserve currency, I see no option for any other currency to be the reserve currency," This story was posted yesterday btw so pretty timely.

Warren Buffett isn't worried about the dollar's dominance. He predicted it would still be the world's reserve currency in 2065.

The greenback is unlikely to cede its global status for decades to come, if ever — but printing too many dollars may cause big problems, Buffett said.

markets.businessinsider.com

 

[Snobdds]

Warren isn't worried..."We are the reserve currency, I see no option for any other currency to be the reserve currency," This story was posted yesterday btw so pretty timely.

Warren Buffett isn't worried about the dollar's dominance. He predicted it would still be the world's reserve currency in 2065.

The greenback is unlikely to cede its global status for decades to come, if ever — but printing too many dollars may cause big problems, Buffett said.

markets.businessinsider.com

What was the third bullet point in the article?

What happens when we have to use 25% of tax receipts to pay the interest on the debt? That will happen sometime in 2024.

Buffet is smart, but sometimes I wonder if he says stuff just to not have a crisis of confidence in the US and it's economic leadership.

Here is our spiraling debt, viewed against defense spending.

 

[marhar]

I guess I never thought 3k was a particularly large amount especially with inflation.

One can easily need 10k in cash to buy a used truck or equipment. I am not going to take a check from someone I do not know from out of town.

Am I getting too old?

 

[ultrarunner]

One can easily need 10k in cash to buy a used truck or equipment. I am not going to take a check from someone I do not know from out of town.

Am I getting too old?

No… just smart… my last two transaction were at the buyers bank branch nearby…

In the metro areas lots of car selling issues…

Sell car for cash and paperwork in order and then get robbed after buyer leaves…

 

[Sprinkler Fitter]

No… just smart… my last two transaction were at the buyers bank branch nearby…

In the metro areas lots of car selling issues…

Sell car for cash and paperwork in order and then get robbed after buyer leaves…

Be smart, do the paperwork and money transaction at the police station