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0 sats \ 0 replies \ @Rothbardian_fanatic OP 9m \ parent \ on: Jeff Bezos’s Yacht: Driver of Economic Activity econ
And there is nothing we can do about it, even if we wanted to do something. They can do what they want, and I don’t care! It is economic use of resources.
You think this is disgusting, you should see my next post: #1069026
That is worse than disgusting, it is horrifying. Perhaps it is time to rein in these medical industry people.
We all understand why it's bad if the government decides to do that, but if a billionaire does that it's ok because it's a private choice?
A waste of resources is a waste of resources, no matter which way you cut it. However, if a billionaire decides to waste his own resources, isn’t that a free choice he can make? If he makes too many of those kinds of choices, he will not remain wealthy for long, will he? Perhaps this is why we say, “Rags to riches to rags in three generations!”
Perhaps that's where this stablecoin stuff is taking us.
Perhaps I am slightly paranoid about the stablecoin BS going on! I think stablecoins are just extensions of fiat into the digital realm without any changes. Just another enslavement program for the masses and a control mechanism for the owners. I would have a tendency to stay away from them and be satisfied with dealing in BTC, ONLY. The stablecoins seem to be linked to just fiat, which is to say isht.
Just sayin’, he must really value, very highly, his consumption of leisure! That is slightly beyond my imagination, but, then again, I didn’t start Amazon with my wife, either.
The yacht is being produced and staffed de novo. It is not replacing something that was there but maliciously broken. Perhaps, if you asked Bezos, the yacht has an immense value as demonstrated by his choice demonstrated preference. He saw more value in the yacht than in $500 million! His money, his choice. He must really value his entertainment highly!
42 sats \ 2 replies \ @Rothbardian_fanatic OP 1h \ parent \ on: How Does Money Acquire its Value? econ
Bitcoin's emergence as money is more like what we imagine gold's to have been, where it began trading for real goods, rather than being a mutation of the existing medium of exchange.
Yes, I understand that! However, the pizza also had a value it terms of fiat, which makes BTC indirectly associated with fiat. You can see this now, because people are constantly talking about BTC in terms of the fiat exchange rate versus talking about it in terms of goods it can purchase. They constantly look at how many FRNs or whatever it takes to buy a BTC.
42 sats \ 4 replies \ @Rothbardian_fanatic OP 2h \ parent \ on: How Does Money Acquire its Value? econ
All of the resources to go into the initial BTC mining had to be paid in fiat currency, didn’t they? If so, then BTC does still have a connection, indirectly, through fiat, to gold and silver. Are direct connections of gold and silver to BTC necessary if there is a connection due to goods and services being exchanged?
I don’t think they are thinking about either price or quantity, they only think in terms of Marxist ideology which leads them into being progressive/lefty/collectivist/Marxist/socialist/communist/murderers at the end of their trail. They do not care about people’s lives, at all.
42 sats \ 6 replies \ @Rothbardian_fanatic OP 2h \ parent \ on: How Does Money Acquire its Value? econ
I heard his explanation and it make sense in terms of what Mises had to say. Perhaps it could be regressed further back because of the relationship between the value of the fiat at the time the pizza was purchased by BTC. Then, the value of BTC could be regressed all the way back to gold and silver barter times.
If and only if the debtor pays off the debt to the creditor.
If the debtor goes broke the creditor gets stiffed.
The Federal Reserve Bank and the Federal government are huge debtors and it looks like there is no paying it back with anything but toilet paper.
This is why the alternatives are so strong. Buy more BTC, now! FTS
That is probably why the billionaire owners want the public to pay their freight on the arenas and stadia. The costs are sky high and they are perhaps too eager to get a few more seats to sell. The economics of the situation just sucks, though.
I wonder if people believe that direct observation is valid anymore. There are a lot of direct observations of people working with mercury as hatters becoming insane from mercury contact with both the metals and vapors from the metals. Perhaps thimerosal is a different kind of material, but that is doubtable. Also, directly injecting it into the body does not strike me as a good way to use it.