Welcome to February, (#1424093) where the bitcoins you hodl give you fewer things they have than in a loooong time.
Our future employees agree...-ish (I'm extrapolating)
Despite the insistence of Scott Bessent, the treasury secretary, that America has a “strong-dollar policy”, Mr Trump seems to believe that a weaker dollar will boost American exports and curb imports, reducing the trade deficit—one of his long-standing bugbears.
Exhibit A for the debasement trade is the surging price of gold. An ounce of it costs $5,200. That is 22% more than at the start of the year—and it is not even February.
Gotta suck to go to print right before gold reset a lot
"If gold tells one story, though, other assets tell another.""If gold tells one story, though, other assets tell another."
- stocks, down...ish: "Even as the dollar has weakened over the past 12 months, the S&P 500 has risen by 15%."
- USTs up: "The yield on America’s ten-year Treasury bonds, which moves inversely to their price, is lower than it was when Mr Trump took office just over a year ago."
- dollar normalized: "Using The Economist’s Big Mac Index, based on the prices of the McDonald’s delicacy around the world, the dollar is overvalued against 49 of 70 currencies."
Both the real exchange rate and the hedging behaviour imply that the dollar may have a long way to fall. If America’s currency is not weak by historical standards, it could easily get weaker. And hedging could make it so, particularly if Mr Trump gets his wish and the Fed cuts short-term interest rates.
Fed independence worries, America sucks etc:
If this self-reinforcing cycle continues for long enough, “hedge America” may eventually turn into full-blown “sell America”. If Mr Trump keeps undermining the credibility of America’s financial system, that moment could come sooner. In the meantime, debasement traders had better buckle up.
Archive: https://archive.md/L4qcy
"Sell America" for what though?
where's the meme... sell for what, FOR WHAT?!
I hear Ms Christine Lagarde thinks this is Europe's moment. Us Europooreans R guud
US military industrial complex is crippled due to loss of supply of refined rare earths (and many other strategic supply lines) after decades of decadent neoliberal decimation of the US industrial base.
Financialisation hollowed out the practical capacity of the US military industrial base- and transferred it to China.
China understands the lessons of The Opium Wars and will not trust the US to abandon its imperialist hegemony but the US empire today is facing insolvency due to its gutted mercantile capacity.
The petrodollar is dying.
A new era of a multi-polar world is emerging and Trumps grasping to retain regional hegemony at the expense of European and Asian allies confirms this.
US wealth and power will be much smaller in the coming decade.
Taiwan will be taken by agreement, not force
The USA must negotiate and manage its decline and Trumps tilt toward 'crypto' is analogous the the second empire constructed by the City of London as the British Empire declined.
https://www.youtube.com/watch?v=np_ylvc8Zj8
@Solomonsatoshi why are you such a simp for China?
China is a rising power... the US probably a declining one no-one is denying this most intelligent people realize it.
But why simp for it so much? I have worked with many Chinese and while they have made extraordinary progress they are not caught up yet with the West.
Regardless... why do you post about this so much? You're from New Zealand right?
I raise the issue of Chinas strong economic performance because it is an example of how important governments and their actions are to the performance of an economy.
Almost exclusively this provokes attacks on me asserting I am somehow a CCP bot or suchlike nonsense, because it does not conform nicely within the Libertarian dogma but they cannot refute it.
They do not seem capable of dealing with the reality that government leadership and strategy can have significant effect on economic performance and in some cases can achieve results the free market cannot.
I look forward to one day someone here addressing the issues I raise but until then their attempts to shoot the messenger and avoid the questions raised speaks for itself
Yes born and bred in NZ- Irish/English/Viking stock.
BTW why don't you have a gun with which to zap sats P2P here on Stacker News?
If you had one I would zap you some but you don't and so I wont.
Because I pay by QRcode on the screen. Why should I 'attach a wallet' when I can pay by QRcode? In fact I have zapped more on Stacker News than I have 'been zapped' because I believe in Bitcoin
'Why should I 'attach a wallet' when I can pay by QRcode?'
Because it would be inconvenient if you are frequently zapping others content.
So surely inconvenient to use QR code every time you wish to zap someone- will have to take your word for it that you ever do.
My position is that a lot of bitcoiners are very vocal about the P2P circular economy but do fuck all to actually advance and participate and support it.
The team at SNs have worked hard to enable this unique P2P V4V social network and I am not going to zap any of my precious sats to anyone who cannot be fucked attaching wallets and showing they too are serious about using and strengthening the LN.
Do not trust- verify- never zap anyone who is not showing a horse and a gun.
I don't 'attach my wallet' to spend because I see it as a security vulnerability. And when I do 'sit down' and take my time to use Stacker News (I don't use it typically on mobile) I much rather buy some CCs or zap directly posts that demonstrate real heart and effort.
100% Agree. The bear market shows who people really are.
I love Lightning and Stacker News and have used it world-wide.
Attaching wallet for gun and horse status demonstrates you are serious about using LN and are not just here as an arsemilking parasite...that's what I think anyway whenever I see only a gun and why I will never zap anyone who does not have a gun themselves.
It requires a very small effort and small if any risk...but shows commitment.
Stacker News is one of the few global communities where we can enjoy LN P2P V4V.
What security vulnerabilities do you see in attaching a spending wallet?
I use Coinos which holds a small float amount around $NZ50-100 and is very convenient and charges very low fees.
I see this as supporting both coinos wallet and their liquidity and the LN more generally.
I do not see it as any real or serious risk to my stack which is held in L1 cold storage.
We must use LN or it will not grow and develop to its potential.
I agree... although I think that will change. From what it looks like... AI agents are going to start using crypto/Bitcoin etc soon and like real soon to pay each other.
I never participated in 'crypto' Bitcoin is the only cryptocurrency I have ever used, and so the idea of 'attaching a wallet' just sounds like crypto BS to me. It's not of course SN is the real deal...
However a wallet should never be 'attached' I want to make a conscious press-a-button decision to pay from my Lightning node which I do pretty often honestly.
I like CoinOS it is a really, really easy platform to use that's easy to understand.
Of course.
I agree 100%. In many, many posts I have said this exact same thing and critiqued Human laziness and even greed. If so-called Bitcoiners devoted even 1% effort to really SPENDING Bitcoin, really going out there and demanding to pay in sats we might never have bear markets. But I guess that's how people are. I look at it as a way to get sats on the relative-cheap.
Look through my post-history where I have thought about this again and again.