Australia's largest stock trading and investment forum Australia's #1 stock forum

"The Future of Money", page-38

First 38 Last

Share
Profile

Follow
Marum

3,493 Posts.

80

28/09/22

21:16

Post #: 63929977
Share

Originally posted by ex bull: ↑

Talking about digital currency.

It is worthless. It is invisible zeros and ones that can vanish by pushing a button.

At least with paper currency it gets exchanged, in the first instance, according to how many hours you have worked. In that sense it is an abstract store of someone's labour. Gold etc is a true source of expended labour and hence will always have real value. Paper fiat currency only has value as long as you believe in it. Originally when paper was introduced it was backed by gold.

The worst thing about digital currency is the worthless volume that they would invent. How would we know how much they would invent? Hence how would we know the real value of the "money supply". Plus whatever we buy gets recorded for some inner urban green public servant to go over with their deadsheet bias and junk values.

What would stop a future Labor/green govt from confiscating the wealth of anyone who didn't vote for them? Similar to what the reactionary deadsheet Trudeau has recently done to a section of the working class in Canada. At least with paper currency you can bury it in the back yard.

Expand

I like eating paper currency....Terrance the Termite.
Upvote

Reply

Top Stories

BHP

BHP dips as WA nickel suspended after A$6B hit; losses eased by US CPI and forewarning

NIM

Nimy to raise $1.21M to explore 'newsy' WA targets

IMM

Immutep reports strong response rate from immunotherapies treating carcinomas

MDI

Nanocap Middle Island Resources kicks off Barkly copper-gold drill run – a potential IOCG-style NT project

ASX hits all time high out the gate on Friday trades following bullish US inflation data

Week 27 Wrap: ASX hits all time high; CBA shares' two realities; US inflation hits 3% ahead of China plenum

Bitcoin investors need to know the risks

I88

Infini soars 50% as company reveals it could’ve just made uranium history – redefining what it means to be “high grade”

SKS

SKS Technologies wins US$90M award to supply power to international hyperscale data centre in Melbourne

AII

Almonty locks in govt agreement for tungsten oxide plant in South Korea

There are more pages in this discussion • 16 more messages in this thread...

First 38 Last