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Thomas Pierce's avatar

I disagree entirely on your take of the monetary system. All currency is fiat money and it is the same with gold. It is based entirely on belief in the system, including gold. There is nothing intrinsically valuable about gold aside from the agreement of all parties that it has value. Beside Jewelry and some commercial uses like dental repairs, it's a worthless lump of metal. You've been predicting the end of the world for two decades now by my count, and it still hasn't happened. Someday, like Rome, the system will fail but it will fail primarily because of those who short sell the system, those who bad mouth it instead of recognizing that finance is more than just arithmetic. Money is simply a means of exchange. Nothing more.

Bitcoin is a bad joke. Anything that fluctuates like it has no value, except the value of those who value it. Everybody jokes about Manhattan being sold by the Indians for a few beads, but in fact it is likely that that island was worthless to the Indians for their purposes, so maybe it was a good trade after all. They got something of value for something that they did not value.

I sold my business and business property to my business partner for at least $300,000 less than what it was worth. You could say that he made a great deal, but I simply wanted out. The stress of the business which failed under his management cost him his life. He died several years ago I think because he bought the business and couldn't operate it

successfully, so the business failed and he had a stroke from the stress of that failure. Who got the better of that deal? I'm still alive and kicking. I still have money in the bank, albeit fiat dollars which continue to allow me to live quite well and to put my daughter through school. And I hope to continue to live a good life for another 20 years.

And I hope that you get to see your youngest child go to college, get married, and create grandchildren for you.

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