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Valued Social Butterfly
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Re: The gold standard? Seriously?

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@Richva—I don’t pretend to know anything about bitcoin, but just had to tell you that a few weeks ago I saw someone on Some TV show say it would fail!!!  See, I was so interested I can be VERY SPECIFIC HERE.  

LOL!! What to think?? I don’t have a clue.

 

 

Gee, I miss having a real president!

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Treasured Social Butterfly
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Re: The gold standard? Seriously?

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@MIseker wrote:
Bitcoin. the wave of the future, soon to be at the board of trade..and 1000 people own 95% of it. lol

I recently asked "what is the value behind the Bitcoin boom?" and got a ton of answers. Most of which were "it is going up in value and will do so forever!".

 

I smell Tulips.  

 

https://www.thestreet.com/story/14416869/1/bitcoin-bubble-versus-dot-com-boom-tulipmania.html

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Treasured Social Butterfly
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Re: The gold standard? Seriously?

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Bitcoin. the wave of the future, soon to be at the board of trade..and 1000 people own 95% of it. lol
So it begins.
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The gold standard? Seriously?

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We got off the gold standard because it was such a horrible way of determining the money supply. Now, we determining the increase in America's value every year and increase the money supply accordingly. This is more difficult to understand but a much better way to adjust our money supply.  

 

I got into yet another conversation from some armchair economist advocating we return to the gold standard.  Does anybody need me to explain this to them?  GEEZ 

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