A Test of Financial Literacy

There will be a lot who wont even start to watch this.. A lot more whose eyes will glaze over before half way. And many more who will cry about it being "BS" or similar. But for those few who get it, congratulations. You are economically literate, and now understand your situation..😷
[media=https://youtu.be/E473tMN-GNw]

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ElwoodBlues · M

[quote]Weak money ... environment of artificiality ... [/quote]

Sounds like another info-advertisement from the "buy gold & silver or you'll die" folks. Once upon a time, gold and silver might have been useful commodities, but in the present world economy they're not good for much; especially silver.

If you think you should get out of equities and into commodities, then think a bit about whether that commodity is relevant in the modern world.

P.S. If you didn't get suckered by the crypto-coin fad, then congrats to you!!!

Crazywaterspring · 61-69, M

@ElwoodBlues Crypto is for scamming rubes and laundering money.

Imagine trying to buy groceries with gold or silver. Thought so.

ElwoodBlues · M

@Crazywaterspring [quote]Crypto is for scamming rubes and laundering money.[/quote]
And the laundering & anonymity parts turn out to be mostly false!! The article below describes how federal agents are tracking transactions thru the bitcoin blockchain, grouping wallets controlled by the same entity, and then busting anonymity and arresting criminals.

[b]https://www.wired.com/story/tracers-in-the-dark-welcome-to-video-crypto-anonymity-myth/[/b]

DeWayfarer · 61-69, M

@ElwoodBlues crypto is just worse extension of the current valueless, ideal base, currency system.

If you're for crypto your just modernizing the current system. Because its value has been shown to be meaningless.

whowasthatmaskedman · 70-79, M

@ElwoodBlues I disagree that it is an ad for crypto..The point is made that crypto is an even less tangible "currency that government paper. But you do raise an interesting point in that some national banks, (like the Fed) are dealing their own currencies like a drug dealer. instead of managing the money supply for the nation. The $US value is high now for no better reason than the value of Bitcoin get skyward.. And look what happened there.😷

whowasthatmaskedman · 70-79, M

@DeWayfarer And some governments are now treating their own currency in the same way Crypto is treated. The effect being to disconnect it even more from its role as a store of real value..😷

ElwoodBlues · M

@whowasthatmaskedman No, I didn't say it was an ad for crypto. I said it was an ad for gold & silver.

DeWayfarer · 61-69, M

@ElwoodBlues being even less tangible than even the current system is in no way tangible in any way!

This whole idea that money should be based on certain ideas is valueless!

It's not based on reality! Only an idea, which can be anything.

BTW it doesn't have to be based on gold or silver. Yet they are at least real! Not an idea!

whowasthatmaskedman · 70-79, M

@whowasthatmaskedman And here is a different "expert" (and I fully admit this guy has an agenda and something to sell...But that doesnt make his story incorrect) with a fairly lucid explanation of the how and why. The whole currency has been set to benefit the rich. And thats a bubble, pure and simple.. And you know what happens to bubbles,
[media=https://youtu.be/8-lBW-dHvic]

whowasthatmaskedman · 70-79, M

@ElwoodBlues Yes. I misquoted you.. My mistake.. But it isnt an ad at all. I have included anothe "infomercial" which is an ad. But informative nonetheless.😷