Finally, a currency derryb can appreciate

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RedneckHB
RedneckHB Posts: 20,236 ✭✭✭✭✭
in Precious Metals

https://www.bloomberg.com/news/articles/2018-01-06/venezuela-to-issue-oil-backed-cryptocurrency-in-coming-days

Excuses are tools of the ignorant

Knowledge is the enemy of fear

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  • OPA
    OPA Posts: 17,166 ✭✭✭✭✭
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    Nothing like having the "Fox in the Chicken coop."

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • derryb
    derryb Posts: 38,608 ✭✭✭✭✭
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    equal to a barrel of oil? Too volatile for a currency. Would work much better if it was backed by sound economic policy.

    Same with gold. The only way a gold backed currency remains stable is to fix the price of gold. No fun for the stacker.

    Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat

  • Kkathyl
    Kkathyl Posts: 3,762 ✭✭✭✭✭
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    Would never support a government that has a problem feeding its people. I can’t in good conscious buy this no matter how much the return.

    Best place to buy !
    Bronze Associate member

  • ricko
    ricko Posts: 98,724 ✭✭✭✭✭
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    No way would I buy these petro dollars.... a socialist dictatorship?? The top dogs will line their pockets and the people will continue to starve....Cheers, RickO

  • derryb
    derryb Posts: 38,608 ✭✭✭✭✭
    edited January 6, 2018 11:09AM
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    @Kkathyl said:
    Would never support a government that has a problem feeding its people. I can’t in good conscious buy this no matter how much the return.

    49 million Americans struggle to put food on the table.

    Less than half of the $250 million a day spent on war for the last 16 years would have put a big fat chicken in every American pot three times a day.

    Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat

  • Baley
    Baley Posts: 22,663 ✭✭✭✭✭
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    "A New Currency!" Oh boy, it's like the wild west, broken bank days for the 21st century, everyone and his brother is coming out with A New Currency!

    And that they keep getting discussed on the GOLD forum is not without irony.

    Liberty: Parent of Science & Industry

  • PaleElf
    PaleElf Posts: 990 ✭✭✭
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    @Kkathyl said:
    Would never support a government that has a problem feeding its people. I can’t in good conscious buy this no matter how much the return.

    I assume you don’t make any purchases from the US Mint then.

  • Kkathyl
    Kkathyl Posts: 3,762 ✭✭✭✭✭
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    I understand all of your points but we don’t have people eating the trees or mud. I’m sure you all understand the difference.

    Best place to buy !
    Bronze Associate member

  • carew4me
    carew4me Posts: 3,667 ✭✭✭✭
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    "government that has a problem feeding its people"

    Government role is not to feed "it's people". socialist much? ;)


    Loves me some shiny!

    “Often wrong, but never in doubt.”
  • ChrisRx
    ChrisRx Posts: 5,619 ✭✭✭✭
    edited January 7, 2018 9:18AM
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    @Baley please enter me in your generous 20k post count giveaway. I hope to win me some of those new Baley bucks! :)

    image
  • derryb
    derryb Posts: 38,608 ✭✭✭✭✭
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    @carew4me said:
    "government that has a problem feeding its people"

    Government role is not to feed "it's people". socialist much? ;)

    Agree. But if it is going to waste multimillions a day isn't it much better to waste it on Americans in need?

    Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat

  • RedneckHB
    RedneckHB Posts: 20,236 ✭✭✭✭✭
    edited January 7, 2018 3:40PM
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    @derryb said:

    @carew4me said:
    "government that has a problem feeding its people"

    Government role is not to feed "it's people". socialist much? ;)

    Agree. But if it is going to waste multimillions a day isn't it much better to waste it on Americans in need?

    No....it's better to get rid of the expense....no matter what it's wasted on. Waste is waste.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • TwoSides2aCoin
    TwoSides2aCoin Posts: 45,217 ✭✭✭✭✭
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    @carew4me said:
    "government that has a problem feeding its people"

    Government role is not to feed "it's people". socialist much? ;)

    The role of government is to feed off it’s people.

  • jmski52
    jmski52 Posts: 24,011 ✭✭✭✭✭
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    Baley .......................20,000 posts????? Toga! Toga! Toga!

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • tneig
    tneig Posts: 1,505 ✭✭✭
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    I trusted them and other places down there before and I'm a little shy now. It may be worth riding the bubble if there is one, as long as you get off in time.

    COA

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