A ‘Fact’ you’ve found interesting ?

[Andad]

Why have I read that the US dollar is worthless?

Is that a fact?

[wrx04]

1 Million Seconds = 11.57 days

1 Billion Seconds = 31.69 years

1 Trillion Seconds = 31,688 years

Our minds dont comprehend exponentials very well.

[INC]

Originally Posted by Andad

Why have I read that the US dollar is worthless?

Is that a fact?

Maybe because the United States has not had dollars for a century, since the FED lends the money to the country.

[Moondoggy]

Originally Posted by Cru Jones

101?

I come here to try and make that effort..

[enjoythemusic]

Originally Posted by wrx04

1 Million Seconds = 11.57 days

1 Billion Seconds = 31.69 years

1 Trillion Seconds = 31,688 years

Our minds dont comprehend exponentials very well.

Thanks, and my previous post was simply to show the enormity (and ????) of it. Note i said "globally", so all of it. Just 1s and 0s on warm chips. A few computer keystrokes every year adds 'trillions in debt', which merely only moves the position of those 1s and 0s on the memory chip.

[Krash]

Originally Posted by wrx04

1 Million Seconds = 11.57 days

1 Billion Seconds = 31.69 years

1 Trillion Seconds = 31,688 years

Our minds dont comprehend exponentials very well.

This explains why many millionaires feel like they’re middle class nowadays.

The difference between the family with a net worth of $5 million vs the billionaire class is gargantuan. Many millionaires have much more in common with working class folks than billionaires.


Sent from my iPhone using Tapatalk

[Maleg]

Originally Posted by hambone1983

Interested to know your thought process here. I can say as a holder of some US Treasury Notes I would not be laughing if instead of the real money I used to buy them they paid me back with make believe money.

It’s a philosophical mind game. If you look at what modern currency really is you will see that it is nothing more than faith in its value. It’s not backed by anything tangible. Rather, we all believe it has value, therefore it does. When the belief is shaken the currency loses its value.

You didn’t buy treasury notes with gold, you bought with currency, in which you had faith in its value. Your treasury notes have exactly the same value as people’s faith in the currency. Your notes are valuable only as long as people have faith in the currency.

The reality is that most of the billions of people on this planet have faith in the currency. Their faith sustains value retention in the currency. If the conspiracy theorists on the interwebs can generate enough uncertainty in the masses to shake their faith in the currency we could have an existential problem. But my guess is the burger joints will still accept greenbacks, which will prove to the masses that the currency has real value.

[Speedbird-1]

Do you know...


https://youtu.be/TpNNNXrGttY?si=LnUHVIT_aO13Fs10

[hambone1983]

Originally Posted by Maleg

It’s a philosophical mind game. If you look at what modern currency really is you will see that it is nothing more than faith in its value. It’s not backed by anything tangible. Rather, we all believe it has value, therefore it does. When the belief is shaken the currency loses its value.

You didn’t buy treasury notes with gold, you bought with currency, in which you had faith in its value. Your treasury notes have exactly the same value as people’s faith in the currency. Your notes are valuable only as long as people have faith in the currency.

The reality is that most of the billions of people on this planet have faith in the currency. Their faith sustains value retention in the currency. If the conspiracy theorists on the interwebs can generate enough uncertainty in the masses to shake their faith in the currency we could have an existential problem. But my guess is the burger joints will still accept greenbacks, which will prove to the masses that the currency has real value.

all true, but I would add that accepting an exchange value of a currency allows humans not to spend 95% of their time finding and negotiating means of barter & therefore lets us be productive. It's human nature to agree on a form of currency, even if that currency is cigarettes on a penal colony.

[Maleg]

Originally Posted by hambone1983

all true, but I would add that accepting an exchange value of a currency allows humans not to spend 95% of their time finding and negotiating means of barter & therefore lets us be productive. It's human nature to agree on a form of currency, even if that currency is cigarettes on a penal colony.

Totally agree. And these days, all my currency is plastic. We’ve become so efficient that we don’t even need to count the cash anymore. Which is one reason why Steven’s debt number is so large.

[RTG]

A human has seven vertebrae in their neck. So does a giraffe.

[INC]

"No. I am your father"

[enjoythemusic]

Originally Posted by hambone1983

all true, but I would add that accepting an exchange value of a currency allows humans not to spend 95% of their time finding and negotiating means of barter & therefore lets us be productive.

You'd think with modern times, after thousands of years, they'd create a system of exchange for goods and services that does not purposefully devalue. This is what ended the whole Rome thing, and soon others. It's just a matter of time, really.

The question is, what is the next form of currency chosen that can't be purposefully de-valued? If, on the smart side, it goes up in value, am sure many here would agree that is a very good thing. Your thoughts?

[Maleg]

Originally Posted by enjoythemusic

You'd think with modern times, after thousands of years, they'd create a system of exchange for goods and services that does not purposefully devalue. This is what ended the whole Rome thing, and soon others. It's just a matter of time, really.

The question is, what is the next form of currency chosen that can't be purposefully de-valued? If, on the smart side, it goes up in value, am sure many here would agree that is a very good thing. Your thoughts?

Gold pressed latinum.

[Jack T]

Originally Posted by Kinnakeet

86,400 seconds in a day.

Not a revelation, someone on here quotes that fact daily…

[Jack T]

Originally Posted by enjoythemusic

You'd think with modern times, after thousands of years, they'd create a system of exchange for goods and services that does not purposefully devalue. This is what ended the whole Rome thing, and soon others. It's just a matter of time, really.

The question is, what is the next form of currency chosen that can't be purposefully de-valued? If, on the smart side, it goes up in value, am sure many here would agree that is a very good thing. Your thoughts?

If it can go up in value, it can go down in value

[enjoythemusic]

Originally Posted by Jack T

If it can go up in value, it can go down in value

Not really if it is an item that has intrinsic value.

And can't we just eliminate the electronic ledger? That's really all it is. So let's be kind and thoughtful, give everyone a 'do-over'. We deserve it.

Anywho, I'm trusting my cute and furry financial advisor. That guy is one very smart 'investor'


_n2.jpg

[Maleg]

Originally Posted by enjoythemusic

Not really if it is an item that has intrinsic value.

Oil & Gas…

[Speedbird-1]

The medical term for "bum crack" is the intergluteal cleft.

Not particularly interesting, but somehow, mildly amusing.

[hambone1983]

a currency that increases in value presents its own issues (deflation, makes exports more expensive). One that is as stable & predictable is the best overall solution

[hambone1983]

a seal can dive to 1500 feet underwater, and can hold its breath for half an hour

[enjoythemusic]

Originally Posted by Maleg

Oil & Gas…

Like PayPal and the Dollar debt accounting system, what is the best way to be a 'middleman' and virtually do nothing for Oil and Gas transactions, yet take a small piece of the 'action' of each transaction? What fact i learned is... that is where great 'wealth' is 'produced' while doing virtually nothing.

[Moondoggy]

Birds like trees.

[Maleg]

Originally Posted by enjoythemusic

Like PayPal and the Dollar debt accounting system, what is the best way to be a 'middleman' and virtually do nothing for Oil and Gas transactions, yet take a small piece of the 'action' of each transaction? What fact i learned is... that is where great 'wealth' is 'produced' while doing virtually nothing.

Lease pipeline.

[buckeyechemie]

Originally Posted by miamiclay

This helped me grasp the real difference between millionaires and billionaires -

A million seconds is less than 12 days

A billion seconds is over 31 years

And 1 Trillion seconds is 31688 years, so to collect one dollar in taxes more than we spend every second of every day, we'd need the full time America has been a country 127+ times over to shave 2.8% off of the national debt.

[Speedbird-1]

A pint, of water, weighs, a pound, and a quarter.

[Bazil]

In the experimental days of television, the very first full-length program broadcast in the US was a drama in one act called The Queen's Messenger by J. Harley Manners. The WGY radio station in Schenectady, New York first aired the drama on September 11, 1928.

[piratfisk]

Originally Posted by Speedbird-1

A pint, of water, weighs, a pound, and a quarter.

I appreciate the rhyme/nemonic device, but the metric system makes more sense in this application.

[Maleg]

Originally Posted by Speedbird-1

A pint, of water, weighs, a pound, and a quarter.

A pints a pound the world round.

[Speedbird-1]

Originally Posted by Maleg

A pints a pound the world round.

Average pint's around 7 quid in London.