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Bitcoin to be accepted at Bobby Dodd
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<blockquote data-quote="GTNavyNuke" data-source="post: 84851" data-attributes="member: 322"><p>DTGT- Much of the $4T was used to buy treasuries and mortgage backed securities. So much of it made it's way into the economy by supporting the housing market or our deficit.</p><p></p><p>However, money is fungible and the velocity of money has been going down. Why the Fed doesn't understand. But I think the reason is that almost all major asset classes have an expected 0% rate of return over the next 8 years or so. That's because the zero rate interest policy for the last few years has forced speculation since the FED has made it "unwise" to save or reward savers. But now we are at the point that those holding "money" would rather not speculate further, including the banks, and thus the money "turns over" less. Ten years from now we will look back at what the Fed and central banks have done and say that the collapse from the debt and equity bubbles was as unavoidable as the tech or housing bubble. </p><p></p><p>I do think that 10% of one's liquid assets should be in gold, and preferably bullion in one's possession. Bitcoins I don't understand well enough, but I can understand why central banks are scared of anything which will reduce their influence.</p><p></p><p>I am glad that GT is using bitcoins and I may get a few just to play with and use.</p></blockquote><p></p>
[QUOTE="GTNavyNuke, post: 84851, member: 322"] DTGT- Much of the $4T was used to buy treasuries and mortgage backed securities. So much of it made it's way into the economy by supporting the housing market or our deficit. However, money is fungible and the velocity of money has been going down. Why the Fed doesn't understand. But I think the reason is that almost all major asset classes have an expected 0% rate of return over the next 8 years or so. That's because the zero rate interest policy for the last few years has forced speculation since the FED has made it "unwise" to save or reward savers. But now we are at the point that those holding "money" would rather not speculate further, including the banks, and thus the money "turns over" less. Ten years from now we will look back at what the Fed and central banks have done and say that the collapse from the debt and equity bubbles was as unavoidable as the tech or housing bubble. I do think that 10% of one's liquid assets should be in gold, and preferably bullion in one's possession. Bitcoins I don't understand well enough, but I can understand why central banks are scared of anything which will reduce their influence. I am glad that GT is using bitcoins and I may get a few just to play with and use. [/QUOTE]
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