Posted: Feb 23, 2019 12:37 am
by Thommo
jamest wrote:Yeah, instead, leave your whole wealth invested within fiat and government, when history shows that ALL fiat has always failed for millennia within a few decades...

This is patently untrue. It's so obvious and easily checkable that there's simply no point arguing.

The four most traded currencies in the world are the United States dollar (instituted 1792), the Euro (instituted 1999/2002), the Japanese yen (instituted 1871) and the Pound sterling (complicated, but centuries old)*. All of them still exist and still function, and in the last century or so only one of them has undergone a "failure" even approaching the "failure" of bitcoin within the last two years, which was the Yen, about 70 years ago following being on the losing side of the most catastrophic war the world has ever seen.

To portray this in the way you do is beyond warped. You quoted a single example of the US government forcibly purchasing some gold from citizens over a century ago, this is not remotely even in the weirdest fantasy world the same as every currency failing within a few decades. It's total, 100% poppycock that nobody in their right mind believes.

You're ranting like a conspiracy theorist about governments stealing from people and making predictions, which by definition are not factual (they haven't happened yet and nobody knows if they will), and calling them facts. You're claiming that your link about gold failing is a reason to invest in gold instead of currency and goodness knows what else.

It's hilarious in the same way Glenn Beck is hilarious.

Not to mention that you assume all my assets are stored as cash in the first place, which again is a bizarre, illogical assumption founded on nothing.

*And if you want to you can look up when exactly those currencies technically became fiat rather than tradeable for gold via the gold standard if you want, and check whether any has "failed" since then.