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Forum » EU Bank Data: Worse Than Great Recession, Worse Than 2012
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Thread: EU Bank Data: Worse Than Great Recession, Worse Than 2012

post 1689901633 09-11-2023, 05:06 PM
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#31
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Hate bad news.
post 1689901733 09-11-2023, 05:10 PM
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#32
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post 1689901963 09-11-2023, 05:19 PM
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#33
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Originally Posted By katya422⏩
Because you have excess water and want silver?

- intrinsic value

- easy to carry/weigh

Just checked and saw a spot price of .74 per ounce for silver so a silver dime would be worth a little under $2 and a silver dollar would be worth a little under $18. Makes silver much more reasonable for regular transactions.

So if someone gave you a silver dime for 2 gallons of water that would be roughly $1 a gallon.

ETA: also fun...this means that if our currency was at least backed by silver then our federal minimum wage of $7.25 would be about $130 an hour in our nearly destroyed funny money...as in the US$ has lost 97% of its purchasing power.



Using silver dimes w/current spot price:

1938: $5

1939: $6

1945: $8

1950: $15

^^^
See 1950.

It went up to $1 in 1956 > $20 an hour.
Intrinsic value of what? Your understanding of basic economics is pitiful.

It's called representative currency because the fuking currency is supposed to represent the value of the country's economy.

So if the economy tanks, what do you think the "intrinsic value" will be? How many people do you know that need silver for their day to day life?
post 1689902723 09-11-2023, 05:39 PM
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#34
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Originally Posted By saltypits⏩
Intrinsic value of what? Your understanding of basic economics is pitiful.

It's called representative currency because the fuking currency is supposed to represent the value of the country's economy.

So if the economy tanks, what do you think the "intrinsic value" will be? How many people do you know that need silver for their day to day life?
It doesn't rot or spoil and it has multiple real world uses.
It is used for jewelry and silver tableware, where appearance is important. Silver is used to make mirrors, as it is the best reflector of visible light known, although it does tarnish with time. It is also used in dental alloys, solder and brazing alloys, electrical contacts and batteries.
There are other metals that could be used, like copper, but that doesn't mean silver has no use.

What would you suggest people use for trade purposes with intrinsic value, long duration, and no counter party risk?

People find trade much easier with some sort of money vs. trying to trade disparate goods which may require multiple trades to get what one wants.
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post 1689903883 09-11-2023, 06:14 PM
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#35
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A look at all of Michael Burry's recent predictions.

In 2005, Predicted the collapse of the subprime mortgage market
-> Housing market crashes in 2008, Global Financial Crisis.

On Dec 2015, he predicted that the stock market would crash within the next few months.
-> SPX +11% Next 12 months

On May 2017, he predicted a global financial meltdown-> SPX +19% Next 12 months

On Sept 2019, he predicted that the stock market would crash due to a bubble in index ETFs
-> SPX +15% Next 12 months

On March 2020, he revealed a massive bearish bet-
-> SPX +72% Next 12 months

On Feb 2021, he predicted that the stock market would crash due to a speculative bubble. Shorts Tesla.
-> SPX +16% Next 12 months

On Sept 2022, he predicted that the stock market warned of more failures, bottom not hit yet.
-> SPX +21% Next 11 months

On Jan 2023, he predicts a recession and new round of inflation. Says “ SELL”
-> SPX +17% Year to Date

On Aug 2023, Reveals Short Positions on the SPY and QQQ

#MichaelBurry #stockmarketcrash

Adam Khoo @adamkhootrader

6:31 AM · Aug 15, 2023





https://ritholtz.com/2023/08/folly-o...short-edition/

---

There are no good forecasters. Never confuse luck with skill. Nobody knows nuthin'.

“Michael Burry is now down 42% on his “$1.6 billion” S&P 500 and Nasdaq short if he is still holding it.”

https://finbold.com/heres-how-much-m...-stock-market/

https://forum.obnoxiousbrutes.com/showt...hp?t=184006093
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