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China Evergrande Defaults on Its Debt - Will this effect Precious Metals and US Economy?

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  • blitzdudeblitzdude Posts: 5,894 ✭✭✭✭✭

    Logic doesn't move the market; perception is what moves it. Pay attention to what the masses perceive and invest accordingly. You will do very well. RGDS!

    The whole worlds off its rocker, buy Gold™.

  • HigashiyamaHigashiyama Posts: 2,192 ✭✭✭✭✭

    @cohodk said “Markets represent the collective opinion and decision making of millions are people.”

    Either that or the collective opinion and decision making of a committee of bankers who meet periodically.

    Higashiyama
  • cohodkcohodk Posts: 19,126 ✭✭✭✭✭

    @Higashiyama said:
    @cohodk said “Markets represent the collective opinion and decision making of millions are people.”

    Either that or the collective opinion and decision making of a committee of bankers who meet periodically.

    How do they make decisions? From the data of generated by 100 million other decisions?

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • HigashiyamaHigashiyama Posts: 2,192 ✭✭✭✭✭

    The market “decisions” of course are highly decentralized; what sometimes appears to be the result of actions of a few decision makers is simply the result of the functioning of a complex system.

    Higashiyama
  • cohodkcohodk Posts: 19,126 ✭✭✭✭✭

    @Higashiyama said:
    The market “decisions” of course are highly decentralized; what sometimes appears to be the result of actions of a few decision makers is simply the result of the functioning of a complex system.

    Yes, a very complex system. Unfortunately with complexity comes misunderstanding, which leads to contempt and fear that feeds the mechanisms of misinformation by those who wish to foment chaos and distrust. And the cycle gets stronger and stronger as that distrust permeates every aspect of our lives.

    We WILL be our own downfall...

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • jmski52jmski52 Posts: 22,850 ✭✭✭✭✭

    Either that or the collective opinion and decision making of a committee of bankers who meet periodically..

    Yes, disproportionately so - to the extent of market manipulation in a major way. The Fed’s decisions on interest rates are designed to herd the market in a specific direction according to their “mandates.”

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • cohodkcohodk Posts: 19,126 ✭✭✭✭✭

    @jmski52 said:
    Either that or the collective opinion and decision making of a committee of bankers who meet periodically..

    Yes, disproportionately so - to the extent of market manipulation in a major way. The Fed’s decisions on interest rates are designed to herd the market in a specific direction according to their “mandates.”

    I'm curious.. what would be your current policy on interest rates? Where do you think rates should be today?

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • CrustyCrusty Posts: 1,108 ✭✭✭✭✭

    Interest rates should be set by the free market. Not a bunch of guys in a room doing what they think is right.

  • jmski52jmski52 Posts: 22,850 ✭✭✭✭✭
    edited February 5, 2024 11:26AM

    Interest rates should be set by the free market. Not a bunch of guys in a room doing what they think is right.

    This.

    It’s not just a bunch of guys in a room. It’s monopolistic behavior by a group of bankers acting in their own self-interest.

    To think otherwise requires what Hillary Clinton referred to as “the willful suspension of disbelief”.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • cohodkcohodk Posts: 19,126 ✭✭✭✭✭
    edited February 5, 2024 5:27PM

    @jmski52 said:
    Interest rates should be set by the free market. Not a bunch of guys in a room doing what they think is right.

    This.

    It’s not just a bunch of guys in a room. It’s monopolistic behavior by a group of bankers acting in their own self-interest.

    To think otherwise requires what Hillary Clinton referred to as “the willful suspension of disbelief”.

    So at what rate do you think the "free market" should be?

    Is the free market rate the same in Fresno, CA or Detroit as in St. Louis or NYC or Jacksonville?

    How about the free market rate in the USA compared to Japan, China or Iran?

    And, at what rate do you feel would be appropriate in the USA today?

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • dcarrdcarr Posts: 8,469 ✭✭✭✭✭

    @cohodk said:
    Unfortunately with complexity comes misunderstanding, which leads to contempt and fear that feeds the mechanisms of misinformation by those who wish to foment chaos and distrust. And the cycle gets stronger and stronger as that distrust permeates every aspect of our lives.

    Nobody is going to trust (or believe) somebody wearing a mask like that avatar.

  • PerryHallPerryHall Posts: 46,137 ✭✭✭✭✭

    @dcarr said:

    @cohodk said:
    Unfortunately with complexity comes misunderstanding, which leads to contempt and fear that feeds the mechanisms of misinformation by those who wish to foment chaos and distrust. And the cycle gets stronger and stronger as that distrust permeates every aspect of our lives.

    Nobody is going to trust (or believe) somebody wearing a mask like that avatar.

    That's not a mask. Cohodk is using a selfie. :o

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • cohodkcohodk Posts: 19,126 ✭✭✭✭✭

    @PerryHall said:

    @dcarr said:

    @cohodk said:
    Unfortunately with complexity comes misunderstanding, which leads to contempt and fear that feeds the mechanisms of misinformation by those who wish to foment chaos and distrust. And the cycle gets stronger and stronger as that distrust permeates every aspect of our lives.

    Nobody is going to trust (or believe) somebody wearing a mask like that avatar.

    That's not a mask. Cohodk is using a selfie. :o

    Correct!!!

    Boo!!!!

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • cohodkcohodk Posts: 19,126 ✭✭✭✭✭

    @dcarr said:

    @cohodk said:
    Unfortunately with complexity comes misunderstanding, which leads to contempt and fear that feeds the mechanisms of misinformation by those who wish to foment chaos and distrust. And the cycle gets stronger and stronger as that distrust permeates every aspect of our lives.

    Nobody is going to trust (or believe) somebody wearing a mask like that avatar.

    Lots of folk trust and believe an old fat dude that paints his face orange.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • cohodkcohodk Posts: 19,126 ✭✭✭✭✭

    @cohodk said:

    @jmski52 said:
    Interest rates should be set by the free market. Not a bunch of guys in a room doing what they think is right.

    This.

    It’s not just a bunch of guys in a room. It’s monopolistic behavior by a group of bankers acting in their own self-interest.

    To think otherwise requires what Hillary Clinton referred to as “the willful suspension of disbelief”.

    So at what rate do you think the "free market" should be?

    Is the free market rate the same in Fresno, CA or Detroit as in St. Louis or NYC or Jacksonville?

    How about the free market rate in the USA compared to Japan, China or Iran?

    And, at what rate do you feel would be appropriate in the USA today?

    I don't think I'm going to get any responses to my questions. Hmmmph.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • jmski52jmski52 Posts: 22,850 ✭✭✭✭✭

    So at what rate do you think the "free market" should be?

    Is the free market rate the same in Fresno, CA or Detroit as in St. Louis or NYC or Jacksonville?

    How about the free market rate in the USA compared to Japan, China or Iran?

    And, at what rate do you feel would be appropriate in the USA today?

    You really have trouble with the concept of a free market, don’t you?

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • GoldminersGoldminers Posts: 3,989 ✭✭✭✭✭

    From Wiki:
    In economics, a free market is an economic system in which the prices of goods and services are determined by supply and demand expressed by sellers and buyers. Such markets, as modeled, operate without the intervention of government or any other external authority. Proponents of the free market as a normative ideal contrast it with a regulated market, in which a government intervenes in supply and demand by means of various methods such as taxes or regulations.

    Unfortunately, most markets are not really free, but regulated in various ways.

  • cohodkcohodk Posts: 19,126 ✭✭✭✭✭

    @jmski52 said:
    So at what rate do you think the "free market" should be?

    Is the free market rate the same in Fresno, CA or Detroit as in St. Louis or NYC or Jacksonville?

    How about the free market rate in the USA compared to Japan, China or Iran?

    And, at what rate do you feel would be appropriate in the USA today?

    You really have trouble with the concept of a free market, don’t you?

    Not at all. But you have a problem with my questions. Are they too hard for you? They made you think a little, didn't they? And it hurt.

    Let's try again....

    So at what rate do you think the "free market" should be?

    Is the free market rate the same in Fresno, CA or Detroit as in St. Louis or NYC or Jacksonville?

    How about the free market rate in the USA compared to Japan, China or Iran?

    And, at what rate do you feel would be appropriate in the USA today?

    If you can't answer, then maybe it's YOU who doesn't know what a free market is.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

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