General Election 2024

Quote: DRich

Not true at all. Someone will want it just at a lower valuation.

Instead of it being 124 rubles for a dollar it may be 124 dollars for a ruble.

What you do not get is that is the same as it losing all its value. And how much is backed up around the world under the USD system.

Quote: AZDuffman

What you do not get is that is the same as it losing all its value. And how much is backed up around the world under the USD system.

What you don't seem to understand is that if a single person wants it, it still has value. Like I said before, it might be minimal but it still exists.

Quote: DRich

What you don't seem to understand is that if a single person wants it, it still has value. Like I said before, it might be minimal but it still exists.

Exactly
It's why an essentially worthless thing called a bitcoin has value

Quote: DRich

What you don't seem to understand is that if a single person wants it, it still has value. Like I said before, it might be minimal but it still exists.

A few people out there probably really want a mint condition Plymouth Cricket. Does that mean there is a market for that car?

A currency crashes it does not buy anything on the international market even if a single person wants it. If you do not have an active and liquid market you effectively have no market.

Ask Argentina how it works when your currency crashes.

Quote: AZDuffman

A few people out there probably really want a mint condition Plymouth Cricket. Does that mean there is a market for that car?

Yes

Quote: ams288

Down from over 2+% pre-Dobbs.

That plus Donny’s insane Senate endorsements, red wave starting to look like a red puddle.

RE: Donny’s insane endorsements:

Quote:

NEW: Adam Steen, who Trump just endorsed in a primary against Wisconsin Assembly Speaker Robin Vos, not only wants to overturn the result of the 2020 election, he also would ban contraception.

“Yes, I would definitely outlaw contraception,” Steen told me.

No wonder so many cowardly GOPers are just waiting for Donny to die.

Quote:

A former Republican congressman told me recently that the party’s only real plan for dealing with Trump in 2024 involved a darkly divine intervention. “We’re just waiting for him to die,” he said.

Looks like this election night is more or less good news bad news. While it's overall a good thing if these election deniers lose, it's means it will more likely be a more typical midterm result for the Democrats losing seats.

Quote: AZDuffman

The USA is held together by the USD and its supremacy as the de facto world currency.

On 8 November 2016, the Government of India announced the demonetisation of ₹500 and ₹1,000 banknotes with effect from midnight of the same day. Today, the ₹1,000 banknote is replaced with the ₹2,000 banknote worth about $25.

Once the USD is digitial I think billions of people around the world are going to routinely use it for transactions instead of their local currency. I should think that is going to reinforce the supremacy of the USD.

Quote: Pacomartin

On 8 November 2016, the Government of India announced the demonetisation of ₹500 and ₹1,000 banknotes with effect from midnight of the same day. Today, the ₹1,000 banknote is replaced with the ₹2,000 banknote worth about $25.

Once the USD is digitial I think billions of people around the world are going to routinely use it for transactions instead of their local currency. I should think that is going to reinforce the supremacy of the USD.

The only reason the government will want it digital is for more control. The reason they do everything. There remains the possibility that a crypto will take over if the USD collapses. I am not so sure that people in 3rd world places will like a digital USD.

Quote: AZDuffman

I am not so sure that people in 3rd world places will like a digital USD.

Maybe in the first world places.

The Japanese Yen is at 133.89JPY to the USD and 136.14JPY to the EUR. It went above 130 to the EUR in 2017, but this is the first time it's been above 130 to the USD since 1998. The JPY was below 110JPY to the USD just a year ago.

Very often finances in Japan are controlled by the wife and she is often very conservative. Japan's postal savings system is the largest financial institution in the world, with about (250 trillion yen) on deposit. That value measured in USD dropped quite a bit in the past year. I am sure that if the cost of acquiring digital USD was cheap enough, many Japanese wives would keep money stored that way. There may always be a fee to change back and forth from one currency to the other, but some may choose to always keep a percentage of welth in USD.