Australian Politics Forum

freediver Gold Member Offline www.ozpolitic.com Posts: 48833 At my desk.	Re: foundations Reply #525 - Mar 15^th, 2024 at 10:56am Quote: If the Australian economy is buoyant and thriving, what reason would anyone have, in everyday transactions, to prefer not to use Australian currency? None that I can think of. But that is irrelevant. There are hundreds of currencies that I do not use. But I wouldn't say I believe they have no value.
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MeisterEckhart

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Re: foundations
Reply #526 - Mar 15^th, 2024 at 11:06am

freediver wrote on Mar 15^th, 2024 at 10:56am:

Quote:

If the Australian economy is buoyant and thriving, what reason would anyone have, in everyday transactions, to prefer not to use Australian currency?

None that I can think of. But that is irrelevant. There are hundreds of currencies that I do not use. But I wouldn't say I believe they have no value.

Yes, well, to use an alternative currency incurs fees, so why would anyone use them except, say, when they have more faith in the foreign currency's capacity to gain in value or hold value better than the local currency, which overrides its lesser convenience?

Something that happened recently to me when my bank updated their Ts & Cs for my safety deposit box. I had to declare that I was not storing US dollars.

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MeisterEckhart Gold Member Offline Australian Politics Posts: 11796 Gender:	Re: foundations Reply #527 - Mar 15^th, 2024 at 11:06am .
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freediver

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Re: foundations
Reply #528 - Mar 15^th, 2024 at 11:36am

MeisterEckhart wrote on Mar 15^th, 2024 at 11:06am:

freediver wrote on Mar 15^th, 2024 at 10:56am:

Quote:

If the Australian economy is buoyant and thriving, what reason would anyone have, in everyday transactions, to prefer not to use Australian currency?

None that I can think of. But that is irrelevant. There are hundreds of currencies that I do not use. But I wouldn't say I believe they have no value.

Yes, well, to use an alternative currency incurs fees, so why would anyone use them except, say, when they have more faith in the foreign currency's capacity to gain in value or hold value better than the local currency, which overrides its lesser convenience?

Something that happened recently to me when my bank updated their Ts & Cs for my safety deposit box. I had to declare that I was not storing US dollars.

I am not talking about faith that it won't depreciate. I am talking about faith that it is not just a worthless piece of paper. I don't hold cash as an investment. It always goes down in value. I use it to buy things.

Why are you making empty posts now as well?

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People who can't distinguish between etymology and entomology bug me in ways I cannot put into words.

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MeisterEckhart

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Re: foundations
Reply #529 - Mar 15^th, 2024 at 11:44am

freediver wrote on Mar 15^th, 2024 at 11:36am:

MeisterEckhart wrote on Mar 15^th, 2024 at 11:06am:

freediver wrote on Mar 15^th, 2024 at 10:56am:

Quote:

If the Australian economy is buoyant and thriving, what reason would anyone have, in everyday transactions, to prefer not to use Australian currency?

None that I can think of. But that is irrelevant. There are hundreds of currencies that I do not use. But I wouldn't say I believe they have no value.

Yes, well, to use an alternative currency incurs fees, so why would anyone use them except, say, when they have more faith in the foreign currency's capacity to gain in value or hold value better than the local currency, which overrides its lesser convenience?

Something that happened recently to me when my bank updated their Ts & Cs for my safety deposit box. I had to declare that I was not storing US dollars.

I am not talking about faith that it won't depreciate. I am talking about faith that it is not just a worthless piece of paper. I don't hold cash as an investment. It always goes down in value. I use it to buy things.

Why are you making empty posts now as well?

Don't you think it's banal to post that people have faith that currency is not just worthless pieces of paper?

We learn that before the age of ten - in the same way that we learn that self-moving sticks on a round surface measure time.

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freediver Gold Member Offline www.ozpolitic.com Posts: 48833 At my desk.	Re: foundations Reply #530 - Mar 15^th, 2024 at 11:48am Quote: Don't you think it's banal to post that people have faith that currency is not just worthless pieces of paper? Sure. I was trying to come up with an example of an intersubjective reality that no sane person would argue against. TGD argued against it. It kind of went downhill from there.
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thegreatdivide Gold Member Offline Australian Politics<br /> Posts: 12449 Gender:	Re: foundations Reply #531 - Mar 15^th, 2024 at 2:36pm MeisterEckhart wrote on Mar 15^th, 2024 at 10:29am: It didn't work and Venezuela spiralled into hyperinflation anyway. Hyperinflation is always caused by economic mismanagement. "Shared belief" won't save you or anyone else, from the resulting chaos.
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Frank

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Re: foundations
Reply #532 - Mar 15^th, 2024 at 3:24pm

MeisterEckhart wrote on Mar 15^th, 2024 at 11:44am:

freediver wrote on Mar 15^th, 2024 at 11:36am:

MeisterEckhart wrote on Mar 15^th, 2024 at 11:06am:

freediver wrote on Mar 15^th, 2024 at 10:56am:

Quote:

If the Australian economy is buoyant and thriving, what reason would anyone have, in everyday transactions, to prefer not to use Australian currency?

None that I can think of. But that is irrelevant. There are hundreds of currencies that I do not use. But I wouldn't say I believe they have no value.

Yes, well, to use an alternative currency incurs fees, so why would anyone use them except, say, when they have more faith in the foreign currency's capacity to gain in value or hold value better than the local currency, which overrides its lesser convenience?

Something that happened recently to me when my bank updated their Ts & Cs for my safety deposit box. I had to declare that I was not storing US dollars.

I am not talking about faith that it won't depreciate. I am talking about faith that it is not just a worthless piece of paper. I don't hold cash as an investment. It always goes down in value. I use it to buy things.

Why are you making empty posts now as well?

Don't you think it's banal to post that people have faith that currency is not just worthless pieces of paper?

We learn that before the age of ten - in the same way that we learn that self-moving sticks on a round surface measure time.

Ah... but what IS time?

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Estragon: I can’t go on like this.
Vladimir: That’s what you think.

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Frank Gold Member Offline Australian Politics Posts: 44487 Gender:	Re: foundations Reply #533 - Mar 15^th, 2024 at 3:25pm Time is Money.
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MeisterEckhart

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Re: foundations
Reply #534 - Mar 15^th, 2024 at 9:10pm

Was listening to a broadcast about the recent history of BRICS after the invasion of Ukraine.

The Russians were negotiating with India about how to manage their trade with each other after Russia was blocked from using US dollars, Euros and the Yen and they came to a roadblock - the Russians wanted to trade in Roubles and the Indians wanted to trade in Rupees.

The exchange got heated with the Russian trade minister telling his Indian counterpart "I don't want your f~cken Rupees: with the Indians replying in kind "And we don't want your f~cken Roubles".Neither wanted the Chinese Yuan - one of the many reasons being the CCP's predilection for their prolific printing of them - 4 times greater per capita than the US.

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thegreatdivide

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Re: foundations
Reply #535 - Mar 16^th, 2024 at 1:06pm

Frank wrote on Mar 15^th, 2024 at 3:24pm:

MeisterEckhart wrote on Mar 15^th, 2024 at 11:44am:

freediver wrote on Mar 15^th, 2024 at 11:36am:

MeisterEckhart wrote on Mar 15^th, 2024 at 11:06am:

freediver wrote on Mar 15^th, 2024 at 10:56am:

Quote:

If the Australian economy is buoyant and thriving, what reason would anyone have, in everyday transactions, to prefer not to use Australian currency?

None that I can think of. But that is irrelevant. There are hundreds of currencies that I do not use. But I wouldn't say I believe they have no value.

Yes, well, to use an alternative currency incurs fees, so why would anyone use them except, say, when they have more faith in the foreign currency's capacity to gain in value or hold value better than the local currency, which overrides its lesser convenience?

Something that happened recently to me when my bank updated their Ts & Cs for my safety deposit box. I had to declare that I was not storing US dollars.

I am not talking about faith that it won't depreciate. I am talking about faith that it is not just a worthless piece of paper. I don't hold cash as an investment. It always goes down in value. I use it to buy things.

Why are you making empty posts now as well?

Don't you think it's banal to post that people have faith that currency is not just worthless pieces of paper?

We learn that before the age of ten - in the same way that we learn that self-moving sticks on a round surface measure time.

Ah... but what IS time?

?? Read Hawkins.

But Meister is correct - both money and time-hands are measuring devices; money to buy stuff with, and hands of a clock to tell the time.

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thegreatdivide Gold Member Offline Australian Politics<br /> Posts: 12449 Gender:	Re: foundations Reply #536 - Mar 16^th, 2024 at 1:10pm Frank wrote on Mar 15^th, 2024 at 3:25pm: Time is Money. See how your first error is leading you further astray. Time is not money, though to earn mooney takes your time (unless you are among the privileged one-percenters who make millions in their sleep...)
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thegreatdivide

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Re: foundations
Reply #537 - Mar 16^th, 2024 at 1:26pm

MeisterEckhart wrote on Mar 15^th, 2024 at 9:10pm:

Was listening to a broadcast about the recent history of BRICS after the invasion of Ukraine.

The Russians were negotiating with India about how to manage their trade with each other after Russia was blocked from using US dollars, Euros and the Yen and they came to a roadblock - the Russians wanted to trade in Roubles and the Indians wanted to trade in Rupees.

The exchange got heated with the Russian trade minister telling his Indian counterpart "I don't want your f~cken Rupees: with the Indians replying in kind "And we don't want your f~cken Roubles".

google

India is believed to have paid for Russian crude largely in dollars or the UAE dirham. India also has begun trading other commodities for oil. Part of last month's payment was made in bananas, Russian media report, and in-kind payments with other types of fruit are reportedly on the table as well.

Quote:

Neither wanted the Chinese Yuan - one of the many reasons being the CCP's predilection for their prolific printing of them - 4 times greater per capita than the US.

google

[i]China has stated that it will no longer trade for oil using the US dollar. Instead it will buy oil using the Yuan and buy mainly from Russia.21 Oct 2023 [/quote]

But your "money printing" narrative is BS: China is experiencing deflation caused by geopolitical factors eg Western "decoupling" (because the West can't compete with China, so the US is manufacturig a false "China threat" narrative.)

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Bias_2012 Gold Member Offline Australian Politics Posts: 10729 Gender:	Re: foundations Reply #538 - Mar 16^th, 2024 at 1:55pm Does anyone really think we have equality before the law? Muslims in Australia are more equal before the law than Traditional Aussies. Muslims reject everything in that Foundations of Modern Civilisation pyramid, so the Lib/Labs treat them like they can do no wrong attempting to keep them on side You must learn Freediver
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MeisterEckhart

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Re: foundations
Reply #539 - Mar 16^th, 2024 at 2:54pm

thegreatdivide wrote on Mar 16^th, 2024 at 1:26pm:

google

India is believed to have paid for Russian crude largely in dollars or the UAE dirham. India also has begun trading other commodities for oil. Part of last month's payment was made in bananas, Russian media report, and in-kind payments with other types of fruit are reportedly on the table as well.

'Believed to have' eh! You mean Mr Google doesn't know?

Bananas, eh! Someone had a good laugh writing that up!

The truth is closer to India paying for Russian oil with 'black' gold - all the better for Russia to pay for arms and materiel to supply the war, to China.

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