Evergrande teeters on edge of default as $148M payment falls due

Re:Evergrande teeters on edge of default as $148M payment fa... by leppr on Thursday November 11, 2021 @02:26AM (#29185370)

The reason it hasn't fallen against those other currencies is that the other currencies' supplies have increased more during this period. The printing was global, and the US not a leader on it.

Against everything else than other unlimited supply currencies, fiat money has fallen dramatically. It's a simple fact, not an endorsement of anything.

Everyone knows the basic mechanics of supply and demand on price, but somehow when it comes to fiat money, many manage to swap common sense with a number of convoluted theories.

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Re:Evergrande teeters on edge of default as $148M payment fa... by whatever1 on Friday November 12, 2021 @09:27PM (#29206843)

You are plain wrong.

Check the most widely accepted scarce commodity: gold. Gold/USD prices are now at the level they were in 2012.

Now if your argument is based on the USD price of Shiba Inu, well I have news for you.

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Re:Evergrande teeters on edge of default as $148M payment fa... by leppr on Friday November 12, 2021 @10:42PM (#29207176)

You're cherry picking the top of the previous inflation scare-fueled gold bullrun (it's up 7x since the year 2000), and the one asset that's heavily manipulated to the downside (demonstrated by the huge premiums in physical delivery during the GME mania which weren't arbitraged away).

Convenient straw man to try and classify anyone exposing the intentionality behind today's inflation levels as a crypto shill. Almost all assets have exploded in fiat values since the start of Covid printing, not just crypto. Supply chain issues didn't affect Rolex watches and metropolis housing markets, money printing, QE and low interest rates did.

[ Parent | on HN ]