It Was Incredibly Bad Timing For Crypto To Go South: Crypto was at a stage when it's legitimacy was on the line, not that it is anything more than a bad Ponzi scheme in the first...

woodguru

Crypto was at a stage when it's legitimacy was on the line, not that it is anything more than a bad Ponzi scheme in the first place.

Banks and Wallstreet investors were looking into getting in on the game, and actually have already as they were seen propping it up.

The reason is is the worst time is the scrutiny on it's legitimacy as an investment, one that hedge fund managers would love to pass around as a vehicle for generating fees and commissions while plundering market funds and retirement fund accounts.

JFlorio Loc: Seminole Florida

Just so others know the t***h. Just like stocks and Wall Street crypto currency’s have been the benefit of billions of printed dollars put into the economy. Much of that money went to the investment Banks and a large amount to crypto. Inflation and lack of confidence has chased value and investors out of both markets.

son of witless

JFlorio wrote:

Just so others know the t***h. Just like stocks and Wall Street crypto currency’s have been the benefit of billions of printed dollars put into the economy. Much of that money went to the investment Banks and a large amount to crypto. Inflation and lack of confidence has chased value and investors out of both markets.

The Fed is desperately trying to wring excess liquidity out of the economy. If they would have been smarter they would have started much sooner. This is now k*****g the stock market. It will eventually hit real estate. Cash will eventually be King, again.

If you are lucky enough to be sitting on a pile of cash, in a year or two you can pick up bargains in stocks, real estate, luxury pickup trucks, boats, campers, etc.

I honestly have no clue on crypto currencies.

woodguru

JFlorio wrote:

Just so others know the t***h. Just like stocks and Wall Street crypto currency’s have been the benefit of billions of printed dollars put into the economy. Much of that money went to the investment Banks and a large amount to crypto. Inflation and lack of confidence has chased value and investors out of both markets.

Crypto is a Ponzi scheme by definition, there is no tethered relationship to the money that goes in, in other words no monetary backing.

JFlorio Loc: Seminole Florida

woodguru wrote:

Crypto is a Ponzi scheme by definition, there is no tethered relationship to the money that goes in, in other words no monetary backing.

LOL. What’s backing the U.S. dollar?

JFlorio Loc: Seminole Florida

Two kinds of inflation. Monetary and non-monetary. We have both. I thought the FED could fix this but of course. They’ve put i***ts in charge. Raising interest rates just hurts consumers when the FED (Washington) keep dumping billions into the economy. This won’t work. They can only devalue the dollar or we will default on our debt. Tightening the money supply would help, along with 10% budget cuts in most non-essential government programs.

son of witless wrote:

The Fed is desperately trying to wring excess liquidity out of the economy. If they would have been smarter they would have started much sooner. This is now k*****g the stock market. It will eventually hit real estate. Cash will eventually be King, again.

If you are lucky enough to be sitting on a pile of cash, in a year or two you can pick up bargains in stocks, real estate, luxury pickup trucks, boats, campers, etc.

I honestly have no clue on crypto currencies.

son of witless

JFlorio wrote:

Two kinds of inflation. Monetary and non-monetary. We have both. I thought the FED could fix this but of course. They’ve put i***ts in charge. Raising interest rates just hurts consumers when the FED (Washington) keep dumping billions into the economy. This won’t work. They can only devalue the dollar or we will default on our debt. Tightening the money supply would help, along with 10% budget cuts in most non-essential government programs.

You have it right. All the Fed can do is tighten the money supply. Biden and the Democrats will continue to spend money they print. Right now there is still a lot of money sloshing around out there. It takes time to squeeze that liquidity out of people. That means pain.

Businesses with high costs relative to their competition will get slaughtered.

BIRDMAN

JFlorio wrote:

LOL. What’s backing the U.S. dollar?

It used to be oil

woodguru

JFlorio wrote:

LOL. What’s backing the U.S. dollar?

Put a hundred dollars in the bank and you can withdraw a hundred dollars

woodguru

JFlorio wrote:

Two kinds of inflation. Monetary and non-monetary. We have both. I thought the FED could fix this but of course. They’ve put i***ts in charge. Raising interest rates just hurts consumers when the FED (Washington) keep dumping billions into the economy. This won’t work. They can only devalue the dollar or we will default on our debt. Tightening the money supply would help, along with 10% budget cuts in most non-essential government programs.

Actually raising interest does exactly what it is supposed to, the price of houses were out of control, that stops, and so does other things.

woodguru

son of witless wrote:

You have it right. All the Fed can do is tighten the money supply. Biden and the Democrats will continue to spend money they print. Right now there is still a lot of money sloshing around out there. It takes time to squeeze that liquidity out of people. That means pain.

Businesses with high costs relative to their competition will get slaughtered.

So far big corporations have been in a profit margin high, they are the ones hurting people, they will be okay.

JFlorio Loc: Seminole Florida

woodguru wrote:

Actually raising interest does exactly what it is supposed to, the price of houses were out of control, that stops, and so does other things.

Don’t lecture me about a subject I know much more than you on.

JFlorio Loc: Seminole Florida

woodguru wrote:

Put a hundred dollars in the bank and you can withdraw a hundred dollars

It’s not how much you put in the bank. It’s how much it’s worth when you take it out. It’s called buying power.

son of witless

woodguru wrote:

So far big corporations have been in a profit margin high, they are the ones hurting people, they will be okay.

WTF is " big corporations " ? Unlike you, I actually invest in the stock market. I actually invest in America and keep it running in spite of you Bolsheviks who want to tear it down. Let me tell you about the real world.

In the real world corporations compete against one another. Some are always doing well and some are going down the tubes. For 2022 a hell of a lot of " big corporations " are losing money. I am losing money in my IRA, because the brain dead moron you put into office has surrounded himself with know nothings who think and act like you.

The man has caused inflation not seen since Jimmy Carter, another Democrat know nothing. That has forced the Fed to suck the excess money out of the economy. A very brutal process.

You think of " big corporations " as a monolith. They ain't. You really should learn something about the things you talk about. You might start by saving your money and invest in some " big corporations ".

son of witless

JFlorio wrote:

Don’t lecture me about a subject I know much more than you on.

Everyone knows more than him.