U.S. household wealth topped the $100 trillion mark for the first time

[singular_me]

U.S. household wealth topped the $100 trillion mark for the first time ever in the first quarter of 2018, the Federal Reserve said on Thursday.

But let's look at the value of the dollar now. So the real household wealth is 100 trillion x 5 cents. What gives???

what is the bitcoin value when bought with dollars? Or any other fiat currencies, 90% of them are under. Bitcoin is way overvaluated then, right? Its success is hyperinflated.

https://mariourlic.files.wordpress.com/2015/03/purchasing-power-us-dollar.png

[Neuro]

U.S. household wealth topped the $100 trillion mark for the first time ever in the first quarter of 2018, the Federal Reserve said on Thursday.

But let's look at the value of the dollar now. So the real household wealth is 100 trillion x 5 cents. What gives???

what is the bitcoin value when bought with dollars? Or any other fiat currencies, 90% of them are under. Bitcoin is way overvaluated then, right? Its success is hyperinflated.

https://mariourlic.files.wordpress.com/2015/03/purchasing-power-us-dollar.png

Are you drunk? Nothing of what you have written above is coherent...

[singular_me]

or you cannot calculate... meaning you cannot see the economic mirage ;)

So the real household wealth is 100 trillion x 5 cents. What gives?

and this will spell doom for the cryptos

[Cebu_4_2]

and this will spell doom for the cryptos

How? The dollar has been devaluating since forever with a bunch of help in 1913. The more the dollar drops the more it costs for a crypto.

[Neuro]

or you cannot calculate... meaning you cannot see the economic mirage ;)

So the real household wealth is 100 trillion x 5 cents. What gives?

I know the value of the dollar isn’t set in stone. Are you upset that you can’t purchase tomatoes for 6 cents a pound? Like they did in the 30’s? Even $5 Trillion (which is the worth of the dollar 100 years ago or whatever) is way more than the worth a 100 years ago of total American household assets.

I would say this though the average person was richer 100 years ago, they didn’t have any debt, they owned their house and land on it outright, and if they needed medical care they could afford to pay for it without to much anguish (IF they where a decent hard working person, which most were).

Most of the assets they have today are fake, while most of their debts is a real path to slavery.

[singular_me]

How? The dollar has been devaluating since forever with a bunch of help in 1913. The more the dollar drops the more it costs for a crypto.

I dont think the real value of the dollar is taken into account... just like apple inc 1 trillion

[Neuro]

I dont think the real value of the dollar is taken into account... just like apple inc 1 trillion

Look the real value of the dollar is what you have to pay to get those tomatoes. If that is a dollar a pound apple is worth one trillion pounds of tomatoes. You don’t have to accept it as long someone else does, that’s the reality.

[Cebu_4_2]

I do have 3 pounds of tomatoes if you want to buy them.

[Neuro]

I do have 3 pounds of tomatoes if you want to buy them.

Three bucks?

[Cebu_4_2]

Three bucks?

I would have to review this thread after drinking to have an accurate price.

[monty]

I know the value of the dollar isn’t set in stone. Are you upset that you can’t purchase tomatoes for 6 cents a pound? Like they did in the 30’s? Even $5 Trillion (which is the worth of the dollar 100 years ago or whatever) is way more than the worth a 100 years ago of total American household assets.

I would say this though the average person was richer 100 years ago, they didn’t have any debt, they owned their house and land on it outright, and if they needed medical care they could afford to pay for it without to much anguish (IF they where a decent hard working person, which most were).

Most of the assets they have today are fake, while most of their debts is a real path to slavery.

Actually the dollar is 371 1/4 grains of pure silver. FRNs are not dollars and are not lawfull money or they wouldn’t be redeemable in lawfull money regardless of what the courts and banksters tell us.


The Spanish Milled Dollar would eventually become the “Constitutional Dollar”. But the Founders had another task yet to be performed. To determine the “value” (http://constitutionalmilitia.org/the-power-to-regulate-the-value/) of a “dollar”. In other words, they needed to determine the precise weight and measure of silver to be in each “Constitutional Dollar” to be minted by the United States government. Based on their findings, the “Money Unit” or standard of the United States, the “dollar”, was defined by law in the Mint Act of 1792 (http://constitutionalmilitia.org/mint-act-of-1792/).Dr. Edwin M. Vieira, Jr.
http://constitutionalmilitia.org/what-is-a-dollar/

[Neuro]

Actually the dollar is 371 1/4 grains of pure silver. FRNs are not dollars and are not lawfull money or they wouldn’t be redeemable in lawfull money regardless of what the courts and banksters tell us.

Dr. Edwin M. Vieira, Jr.
http://constitutionalmilitia.org/what-is-a-dollar/
I do know what the US constitution calls a dollar, so do you pay the cashier at the grogery store in constitutional dollars?

[monty]

I do know what the US constitution calls a dollar, so do you pay the cashier at the grogery store in constitutional dollars?

I am aware you know what a U.S. Constitutional dollar is. But beings this is a gold-silver forum I thought I would be a smart ass and polute Goldisma’s thread with some facts.

Nowadays I hide any constitutional dollars I am lucky enought to find. Believe it or not before 1964 we in Nevada did pay mostly in Constitutional dollars. We refered to FRNs as Jew flags. Because gambling has been legal in Nevada since 1934 silver dollar remained in circulation because of the casinos demanding them until President Johnson signed the counterfit Mint Act of 1965 and silver coins were replaced by counterfeit slugs and the silver coins were suddenly hoarded.

When I was a gasoline station attendant during my high schoool years I always had 20 silver dollars in my cash drawer for change. A lot of the eastern tourists bitched if you gave them 4 silver dollars for change because they were too heavy. They prefered ‘folding money’.

The U.S. Constitution refers to the dollar, but does not define it because the colonists and the inhabitants of the original 13 States under the Articles of Confederation had adopted the Spanish Milled Dollar or Pieces of Eight as the unit of account as Dr. Vieira noted.

[Neuro]

I am aware you know what a U.S. Constitutional dollar is. But beings this is a gold-silver forum I thought I would be a smart ass and polute Goldisma’s thread with some facts.

Nowadays I hide any constitutional dollars I am lucky enought to find. Believe it or not before 1964 we in Nevada did pay mostly in Constitutional dollars. We refered to FRNs as Jew flags. Because gambling has been legal in Nevada since 1934 silver dollar remained in circulation because of the casinos demanding them until President Johnson signed the counterfit Mint Act of 1965 and silver coins were replaced by counterfeit slugs and the silver coins were suddenly hoarded.

When I was a gasoline station attendant during my high schoool years I always had 20 silver dollars in my cash drawer for change. A lot of the eastern tourists bitched if you gave them 4 silver dollars for change because they were too heavy. They prefered ‘folding money’.

The U.S. Constitution refers to the dollar, but does not define it because the colonists and the inhabitants of the original 13 States under the Articles of Confederation had adopted the Spanish Milled Dollar or Pieces of Eight as the unit of account as Dr. Vieira noted.

Good stuff Monty!

[Neuro]

I dont think the real value of the dollar is taken into account... just like apple inc 1 trillion

There is no real value to a fiat currency. The value is only what people consider it worth at the time. The value is in the eye of the beholder, in fact just like Apple inc, but you get more substance if you buy Apple shares vs FRN’s...

Right now though the market values Apple to $1T. If that was dollars according to the constitution Apple would be worth 700 Billion t.oz. of silver, mind boggling. But even at current silver prices of ~$16/ t.oz. valuation of Apple is more than 60 billion Troy ounces. Apple actually uses a fair bit of silver in the circuits and screens. Silver is obscenely cheap in relation to Apple shares right now IMO.

[Neuro]

To date approximately 1.7 million tonnes of silver has been discovered in the history of man. That is equivalent to around 50 Billion t.oz, so current market valuation of Apple is actually greater than all silver discovered during history of mankind...

https://www.usgs.gov/faqs/how-much-silver-has-been-found-world?qt-news_science_products=0#qt-news_science_products

[Neuro]

I couldn’t find any stats on Apples use of silver, but according to this https://www.statista.com/statistics/253345/global-silver-demand-by-purpose/ about 25% of global demand for silver is from electronics, or about 250 million t.oz out of total demand 1 Billion oz.

If Apple uses about 20% of all industrial electronic silver that means about 50 million ounces to a cost of $800 million. Since Apple makes an annual profit right now on around $50 billion they are not terribly price sensitive, if silver prices went up to $200/ounce. It would set them back only $10 billion, still they would make a massive profit of $40 Billion. At a silver price of $1000 they would break even, everything else unchanged...

[Cebu_4_2]

I couldn’t find any stats on Apples use of silver, but according to this https://www.statista.com/statistics/253345/global-silver-demand-by-purpose/ about 25% of global demand for silver is from electronics, or about 250 million t.oz out of total demand 1 Billion oz.

A little here, a little there...


http://youtu.be/_nVk25ZvTkU

https://youtu.be/_nVk25ZvTkU

[woodman]

Hey, this turned into a great thread after all. Thanks for saving it guys. We've gotten some useful information after all. I remember well, in the mid 60's when the 'sandwich' coins as we called them, came into existence. We didn't know then, that we should save only the old ones.