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Cake day: August 9th, 2023

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  • Some of it is also styles. If you came of age in the 1970s, then 50 years on, you probably dress and have your hair done like it’s the 1970s. We associate those styles with old people and then see the same styles in old photos, which makes the people in them look old.

    That’s only a partial explanation, though. A lot of that stuff did age you faster.


  • You can only mine so much gold, money can be printed infinitely

    Good. When there’s more economic activity, there should be more money in circulation.

    And there will be a point, albiet far in the future, where we will have depleted natural gold reserves to the point where mining costs will far exceed the profitability

    Asteroid mining. Making that viable will cause the price of gold to plummet. If our economy is based on that, it’ll cause a depression.

    And treasury bonds are merely Fiat currency on steroids

    Good.



  • Especially since it leaves out some very important items like you know: Real estate, energy costs, insurance, et

    CPI includes all those things.

    . . . there are new standards of living which includes additional utilities and commodity items.

    Which is why CPI is tweaked regularly to match what people actually buy.

    There have been various other ways to measure inflation that have popped up over the years, such as the MIT Billion Prices Project. Nothing ever matches perfectly, but they show the same overall trends that CPI does.


  • Scarcity Gold is a finite resource, meaning its supply cannot be easily increased,

    Wrong. You get more of it by mining it, just like any other metal. During the 19th century, there were several monetary panics set off because the price of gold fluctuated. Not because a pandemic brought supply chains to a halt. Not because bird flu killed a lot of chickens and sent the price of eggs skyrocketing. Not because a boat got stuck in the Suez Canal and stopped up global shipping. Not because of any more fundamental reason than someone found a new mine full of gold.

    gold prices tend to move inversely to the value of a currency

    You can just as easily buy treasury bonds.



  • frezik@midwest.socialto196@lemmy.blahaj.zonerule
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    20 hours ago

    About the only thing they are good for is carbon copy paper. You have to press hard to make it work, and better pens tend not to like being pressed hard.

    It’s also a use case that’s almost dead. Writing checks is a rarity, and most people only come across the odd contract like that once every few years, at best.