railfancwb Posted March 29, 2021 Share Posted March 29, 2021 I routinely receive emails from “investment news letter sellers” teasing with the suggestion that the United States is going to devalue the dollar. My simple mind wonders “against what?” FDR devalued the dollar from $20 to $35 per ounce of gold AND tried to confiscate all monetary gold in citizen hands. Nixon devalued the dollar from $35 to $41 per ounce and said “we are no longer redeeming dollars held by other nations for gold.” Between FDR and Nixon LBJ removed silver backing from currency. Thus dollars are no longer convertible into anything So what pray tell can the dollar be devalued against? 1 Link to comment Share on other sites More sharing options...
crockett Posted March 29, 2021 Share Posted March 29, 2021 Through simple increase in inflation. It's coming, Powell just doesn't want to rock the boat or every hedge fund manager and all the retail investors will cash-in over night. Always keep in mind: as an investor, buy low and sell high. Only the dumb money sheep hold through every pullback, crash and even recession. Link to comment Share on other sites More sharing options...
NPTim Posted March 29, 2021 Share Posted March 29, 2021 I get the feeling that cryptocurrency is, and I’m not qualified to use the term, being pumped and dumped. I have a feeling cryptocurrency is being used to siphon off dollars, all the extra dollars being pumped into the economy, to help maintain the dollar’s value, somewhat. If it wasn’t a thing, all the dollars dumped on the economy in a year, what? 4 or 6 trillion dollars. Between the two, cryptocurrency and the fiat dollar, I’ll stick with the fiat dollar. It is at least tangible. Cryptocurrency is just a bunch of 1’s and 0’s and can be wiped out by any number of events. If something isn’t done soon the government will spend us into a Zimbabwe economy. I know very little about economics, maybe a 5th graders understanding, if that. Link to comment Share on other sites More sharing options...
Administrators Eric Posted March 29, 2021 Administrators Share Posted March 29, 2021 Fiat Currency and nothing named Fiat ever breaks down, right? 5 Link to comment Share on other sites More sharing options...
NPTim Posted March 29, 2021 Share Posted March 29, 2021 Dude, you are a true gear head. 1 Link to comment Share on other sites More sharing options...
Dric902 Posted March 29, 2021 Share Posted March 29, 2021 (edited) People spend years getting degrees in finance and management only to die broke. “actions, reactions, interactions, unforeseen consequences, and the occasional bad guy makes the markets so complex that the kooks thinks it’s controlled when it’s just evolved into a million facet stone” - Financial Advisor in the ‘90s . Edited March 29, 2021 by Dric902 Link to comment Share on other sites More sharing options...
gwalchmai Posted March 29, 2021 Share Posted March 29, 2021 If we can accept that wearing a cotton mask can protect us from the ChinaVirus, and that "social distancing" is important for restaurants & churches but not for protest riots, and that people are to be judged by the color of their skin, we can accept that printing money will not have damaging effects on the currency. 1 1 1 1 1 Link to comment Share on other sites More sharing options...
Walt Longmire Posted March 29, 2021 Share Posted March 29, 2021 8 hours ago, crockett said: Through simple increase in inflation. It's coming, Powell just doesn't want to rock the boat or every hedge fund manager and all the retail investors will cash-in over night. Always keep in mind: as an investor, buy low and sell high. Only the dumb money sheep hold through every pullback, crash and even recession. I think the time to get out of the market is very close. Maybe even was 2 weeks ago. Link to comment Share on other sites More sharing options...
crockett Posted March 29, 2021 Share Posted March 29, 2021 (edited) 17 minutes ago, Walt Longmire said: I think the time to get out of the market is very close. Maybe even was 2 weeks ago. I'm not invested in the market at all. Haven't been since 2017. Moved it all into my company. I'm only day trading in the market, and within the day my trades usually last a couple seconds to 2 minutes. That's about the timeframe my intuition can "predict" the price action these days. Ever since the Feds created the most outrageous V-shape recovery last year it's a matter of facts, that the entire market is pumped. I may short it on the next crash, also intra day only. Played 5 tickers today, 3 winners, 2 losers, hit my daily average profit and walked away. Obeying my rules, being disciplined, humble and consistent with base hits only. Only way to survive this game and stay green. Edited March 29, 2021 by crockett Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now