Bonus question, when will hyperinflation become a major problem for the USA?
1-56.1%
5-1012.1%
10-156.1%
15-209.1%
20+66.7%
33 votes \ 9h left
pull down to refresh
63 sats \ 6 replies \ @grayruby 14h
The can can be kicked for much longer than most of us expect.
reply
20 sats \ 0 replies \ @PictureRoom 10h
Yep, agree.
reply
40 sats \ 4 replies \ @Aardvark OP 14h
I personally think it's still going to be around for a long time. Inflation is going to probably continue to worsen though.
reply
42 sats \ 3 replies \ @grayruby 14h
Yes, they will need to keep printing more and more to keep the house of cards standing.
reply
50 sats \ 2 replies \ @Aardvark OP 14h
You obviously need more cards to make the house bigger.
I'm guessing were going to see a higher target inflation rate becoming the new normal.
reply
42 sats \ 1 reply \ @grayruby 14h
Agreed. 3% on the fake cpi will become the target and then 4%. If we are cool with 4% why not just make it 5%.
reply
40 sats \ 0 replies \ @Aardvark OP 14h
Death by inches. I actually do believe people have a breaking point though. I wonder when we get to see it.
reply on another page
33 sats \ 0 replies \ @trosso19 14h
I think stablecoins are going to give the dollar a second wind. Bitcoin will win out in the end but it's going to be a very long road.
reply
42 sats \ 9 replies \ @Undisciplined 14h
Define "collapse".
reply
26 sats \ 8 replies \ @Aardvark OP 14h
Becomes worthless
reply
42 sats \ 7 replies \ @Undisciplined 14h
I think we're a long way out from all fiat hitting zero. I even think the dollar hyperinflating is probably more than 20 years out.
I'm expecting lots of other major currencies to collapse before then, but the "rush to safety" could prop the dollar up.
reply
33 sats \ 5 replies \ @Aardvark OP 14h
You're probably right. That's the most sensible answer, but I like hearing other people's opinions.
Side note, I looked into an IRA that I can roll my old 401k into and pick up spot btc etf. So I have resolution on that now too.
reply
60 sats \ 3 replies \ @Signal312 10h
Unchained Capital has IRA rollovers. And I believe Swan and a few others. You can do direct BTC, don't have to buy the ETF.
reply
29 sats \ 2 replies \ @Aardvark OP 9h
Can I do a 401k into it without fucking myself on taxes?
view all 2 replies
0 sats \ 0 replies \ @Solomonsatoshi 13h
You 401k fiat savings are handed over to enable bankers to gain greater custody and control of Bitcoins limited issuance- in a form where they expressly prevent and prohibit all Bitcoin held in their custody being used for P2P payments.
Bitcoin as a speculative commodity plaything held by institutional custodians is no threat to fiats MoE hegemony.
reply
0 sats \ 0 replies \ @Solomonsatoshi 13h
Agree fiat has a way to go but the USD not so much.
5-10 years max.
China has won the trade war and all nations must trade with China or suffer loss of economic advantage.
https://unctad.org/topic/trade-analysis/chart-10-may-2021
Historically trade dominance precedes monetary hegemony.
China has already won the trade war.
Increasingly China enables trade payments outside of the IMF/USD/SWIFT system via Hong Kong and probably via its already operational CBDC which was designed to enable an alternative to USD/SWIFT.
With Iran and Russia already onboard only one more major energy exporter needs to move from USD to Yuan trade payments and the petrodollar begins to very swiftly unravel.
Trump is already ceding territory to Chinas military proxies, admitting US exceptionalism is now defunct - and once that snowball of appeasement starts its very swiftly all over for USD hegemony.
reply
21 sats \ 0 replies \ @orto 47m
We see 140% inflation here in Turkey.
It is currently at 80% levels. The public has not yet reached the boiling point.
In our country, rebelling against the state is not welcomed. The government also imprisons those who rebel individually.
This is sad but true, unfortunately.
reply
21 sats \ 0 replies \ @userbob6 11h
It's going to be much longer than 20 years because of all the stuff that's being rearranged in the government right now. The purchasing power of the dollar has already clawed back much of what was lost in the last QE.
I think that's largely the reason for the most recent sharp decline in Bitcoin's dollar price.
Of course you will never see companies bring their prices back down, but you will notice that they won't go up again for a while.
reply
21 sats \ 0 replies \ @7e6e393a56 11h
There is still a long way to go. Regarding the USA, as long as the dollar is predominantly the global currency, the printing will not have catastrophic consequences, but if the BRICS plan has an effect on de-dollarization, that is another story. Now, wanting is one thing, getting it is totally different, even more so when the fight is against a nation that has countless devices to prevent
reply
21 sats \ 0 replies \ @Meani123 13h
I say more than 20 years until it collapses. It has failed already but until total collapse it will be a while longer
reply
21 sats \ 0 replies \ @justin_shocknet 14h
Dollar will be the last fiat standing, could take decades or even longer than the Bretton Woods system has been around.
The Canadian and European pesos on the other hand, the way things are trending geopolitically, are looking like 2 years tops.
reply