Posted: Feb 23, 2019 1:55 am
by Thommo
jamest wrote:
Thommo wrote:
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)*.

Please, don't be a dummy. I was obviously talking about currencies being their own standard independent of anything else. This was made clear within the links provided, which you clearly haven't read. It's not about the longevity of currencies per se, but about their ability to survive independently of any other standard (like the US dollar is currently trying to do, since 1971, regards Gold). I.e., they're not backed by or based upon other assets/currencies.

Argumentum ad gibberish.

What you said was wrong. Those are the four most traded fiat currencies, none have failed. All have been going for at least a couple of decades.

No investment is completely safe. Everything is only worth what you can sell it for, gold and bitcoin included. If people lose faith in bitcoin it can collapse by 80% or more in a short space of time, just like a share and just like a fiat currency (except over recent history it's proven more susceptible). The fact that Sterling inflation runs at 2% a year is of no concern if my savings account pays 2.5% per year. If you're the sort of investor that relies on this kind of superficial comparison with mattress stuffing then I hope to goodness you've touched your lucky rabbit foot and rubbed your horseshoe on the way to bed - because what you need is luck: you're gambling.

You might get lucky, nowhere have I said you won't - indeed I wished you luck (although your habitual hostility and condescension have made it increasingly hard to feel for you). But that doesn't stop the complete category error of calling wild predictions "facts" being hilarious, nor does it stop this false version of history being laugh out loud funny.