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Paul Krugman Is Finally Right About Something: Government Violence

Paul Krugman Is Finally Right About Something: Government Violence. We’ll see how long their brutal plan holds up

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22 Comments on Paul Krugman Is Finally Right About Something: Government Violence

  1. Cryptos not Bitcoin are the future. However I would like to point out the track record of precious metals i.e. Gold and Silver during times of economic upheaval. Silver is the sleeping giant of investment followed by Nickel and Cryptos. Unfortunately Cryptos have 1 disadvantage over metals being their lack of inherit value. Metals need to be mined and refined giving a base level of value. Cryptos can be copied and pasted to produce a virtually identical cryptocurrency. The true value of cryptos is the energy required to mine coins but this requires good internet which is likely to be heavily censored after the Brexit and Trump victory.

    • Ahhh… But, you are forgetting. There are more than just two continents on this planet (Europe and America). Here in the Philippines, there is Gigabit internet (I only pay for 5MB because that’s all I need). My house has 230v 100A service feeding FOUR mining rigs (+/- 3000W) consisting of one Titan Xp, ten 1080 Ti’s, and four 1060 6GB’s. All of these mine just fine on that 5MB connection. AND, I still have PLENTY of extra bandwidth for watching The Dollar Vigilante.

    • Sam Catterall “Unfortunately Cryptos have 1 disadvantage over metals being their lack of inherit value. ”

      Value is determined by the market, the people who determine value. Gold had zero value to the American Indian. Crypto’s value is based on exactly what Jeff Berwick spoke about in this video. Crypto has 1 huge advantage over precious metals and that is it’s ability to be used as a currency. Try buying a $10 item with a 1 ounce round of silver with a current trading value of $1000. Won’t happen because it is impossible to make change. Try buying something over the internet with your silver, not going to happen. Cryptos DO have useful “inherit” value. This is why the market keeps driving the price of cryptos up why the US Treasury/FED keeps manipulating the value down, while they still can.

      Some day real soon the FED will lose it’s ability to manipulate and control asset markets!

    • @Curtis Albrecht, I live in New Zealand which has 2 fiber optic cables connecting it to the rest of the world. The only reason why we can run Peta-bit internet as a society is the upgrades in the range of optical frequencies able to have low loss internet through optical amplifiers, multi-mode resonance, and multi-core cables. In a SHTF situation, how easy would it be to liquidate said wealth when it is likely to have minimal power to run said equipment for mining or exchanging. @Kurt Homan, Value and inherit value are 2 slightly dissimilar concepts. Value as you said is determined by the market however inherit value isn’t. Inherit value is the cost in order to produce a good. Cryptos get it from solving complex math equations, the power and internet associated said costs and the strength of the security algorithms with it. Gold, Silver, Platinum and Palladium all have to be found in large quantities which are economically viable to mine to make a profit, mined, refined into pure ingots of at least 99.9% purity as it inherit value. So the only safety net stopping cryptos from falling to 0 dollars is the internet and electricity which can fall apart at any time. Keep this in mind. Even though I have given criticism to cryptocurrencies, I still thing that they are better than fiat currency. Preferring one wealth transfer mechanism over another is just in human nature.

  2. Ha! great one. Even a monkey can get something right (through random action) once in a while. Krugman is no different.

  3. Um, a Fiat funny money dollar is closer to a quarter of a gallon of gas, not a half gallon. $2 a gallon gas doesn’t exist anywhere… As far as I know.

  4. Not Friactional Reserve Banking Fictional Reserve Banking “Ponzi Scam ” City of London and JP Morgan cartel destruction of our Society, Bankers are the Criminals

  5. Violence guarantees redemption of fiat notes. What is needed is a multiplicity of economic systems, that motivate redemption without violence.

  6. Hey, how about mad man Macri in Argentina? Now that’s inflation! Buenos Aires should really be fun, now that Macri has created so many new prostitutes. That guy should have his brains scrambled repeatedly, with a blunt object. I think Roman decimation should work just about right for him.

    Rrrrrrrgentina, where the wind goes sweeping down the Patagonia, in that funny little surrey, with the fringe on the top.

  7. Violence is not required to keep a bid under the currency. Bit dot Tube has underwritten TUBE (a fork of Monero) with an incredibly useful video content platform built on IPFS where content uploaders AND viewers receive mining rewards. Check it out Jeff. Much easier to use than Dtube.

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