Question: Hyperinflated USD might actually be happening now. Is there a contingency plan?

[Jhereg]

The conspiracy theories are real...

 

[NevadaJake]

Reminds me of a television show I recently binged.

 

[Rumsponge]

Ok, I think this train has rounded the final curve toward Crazy Town. Time for me to jump off. Good luck, guys.

 

[Xen]

Maybe, but that doesn't help with the inflating USD and possibly soon to be hyperinflating. Rumor has it the end of USD altogether is in the works. Possibly as soon as the 26th of May...

I don't think there will be hyperinflation, there will be a bump and eventually some small raising of interest rates, then it will settle down.

The congress testimony will likely be just a bunch of grandstanding by politicians as usual.

 

[Aloisius]

Ok, I think this train has rounded the final curve toward Crazy Town. Time for me to jump off. Good luck, guys.

Hope you stocked up on fuel

 

[Elfie]

Just hang in tight, your PED are fairly safe in game.

Apart from depo or withdrawing, that pretty much sums it up. PED is safe in game atm.

 

[Deemer]

What does PED have to do with inflation?

Although $1 = 10PED, direct and related ratio. If you buy 1 apple for $1 now, this apple could cost $2 next year. And the fact that you will pay twice as much PED for one apple will be due to IRL inflation, which has nothing to do with the game.

 

[Aloisius]

Here is how inflation affects the game: If MA is making 30% of what they made from us doing the same thing 5 years ago, there's less innovation.

I suppose one could argue it's already uninnovated as possible.

 

[atomicstorm]

I don't think even the government has the power to manipulate it.
They do have the power to manipulate USD however, and print the quantitative easing as they see fit.

Any central bank has the ability to manipulate any bubble. Hell, Elon is doing a good job at it right now.

Where do you think all the money has been going over the last 16 years of hyper printing? That money was sitting in reserves overseas because if it didn't, it would cause hyperinflation. However, in 2015 and 2016 China said f it and used the money and lent the money to build.infrastructure in other countries or buy up assets. That money plus all the extra money printed in the last 18 months made it into circulation.

Hyperinflation is here, you haven't realized it yet but if you're paying attention, you're seeing all the signs and you better be positioning yourself. In history, it has taken 2 years to cause Weimar level damage from the time the printers go massive brrrrrr. (2022-2023)

 

[Aloisius]

Next step - food shortages.

Where do you think all the money has been going over the last 16 years of hyper printing? That money was sitting in reserves overseas because if it didn't, it would cause hyperinflation. However, in 2015 and 2016 China said f it and used the money and lent the money to build.infrastructure in other countries or buy up assets. That money plus all the extra money printed in the last 18 months made it into circulation.

That new silk road project is frickn gigantic too.

The conspiracy theories are real...

My gas station had no high-test gasoline today - deisel was still somewhat reasonable priced. Funny there's a refinery right next to the town I live. The Ft mac area where all the oil sands are is all of a sudden realizing their camps are incubation zones. They might have to shut it down because of the "utopia" level overcrowding there. On the good news tho the average IQ of north america is rising

 

[TheRock]

If the community got the power, money the tech and most important, trust. Can we then make our own token / currency?

 

[Aloisius]

Naw, MA has no interest at all in our help. I know for certain that the community can solve their problems.

 

[theProphet]

somehow i also want a bag of bolivares now, they're cheap these days

 

[Elfie]

I have been keeping a close eye on my home in Santa Barbara through CCTV, and a maid who visits regularly to check the things I cannot see. The building has not changed, but its value has. The reality of economics puts the price up, or down, but its still the same house. The same is true with Ped, it is totally dependent upon outside economic forces to the value it has in a persons eyes outside the game. The same as my house. I would rather take my chances with the RL economy and Ped value, than a player based token currency. Regardless of the value others put on it, I still have my house, which I can use, just as I can use virtual equipment in game for a purpose - hunting, mining etc. A player based token / currency would only last whilst others valued it, and is a type of pyramid scheme, the last one left with it all has nobody else to trade it with. This is quickly happening to Bitcoin.

 

[Aloisius]

House is a good example of value versus currency. When the value of the dollar goes down the price of the house goes up. If the dollar crashes to 0 then the house can retain value seperate from the dollar. In other words now you can sell the house for say 10 cars for example.

Now take an ingame item like say a LA but it's tied to the PED and PED is tied to the USD. There's no option to retain the "value" if the USD goes down. You buy and sell in PED's and USD. In this scenario, and if the USD hyperinflates to any value less than now, the only option for MA to deal with the situation is to close the doors. I know it would be the least of the problems then but now theres's things to do to mitigate the fallout. Still no response makes me think I know what MA is going to do.

A player based token / currency would only last whilst others valued it, and is a type of pyramid scheme, the last one left with it all has nobody else to trade it with. This is quickly happening to Bitcoin.

You could replace the word Bitcoin with USD. And that's exactly what this post is about. If USD hyperinflates AND PED is tied to it ....

TBH IDC if people don't get hyperinflation; it's MA I want to know about.

https://twitter.com/i/web/status/1394374934936293380

 

[theProphet]

it's MA I want to know about.

probably because MA is a better riddle than both fiats and cryptos together?

 

[atomicstorm]

You could replace the word Bitcoin with USD. And that's exactly what this post is about. If USD hyperinflates AND PED is tied to it ....

TBH IDC if people don't get hyperinflation; it's MA I want to know about.

What do you think happened in the last year?

 

[Aloisius]

Just inflation last year. I think this year it'll be even closer to hyperinflation and it's gonna be bad maybe. All the UFO's in the universe ain't gonna keep people from noticing that.

 

[JD RACING]

crypto dont have inflation lol

 

[theProphet]

a short story about the money we use:

 

[San]

a short story about the money we use:

You really need to say it out loud: The token to represent a real thing became the actual thing.

Alas, they won't get it until a lot more drastic things start to happen.

 

[TumiTimeless]

a short story about the money we use:

Well stated, the prophet, indeed.

 

[Mega]

 

[Aloisius]

So the big catalytic event, the debt ceiling deadline is end of the month. No one can pay. Can they put it off again? I wonder if this is the apocalypse? You know they have all the horses, right?

 

[MrFatBoy]

you guys still dont get it - the people will never be in control of the money supply - maybe the ultra rich - but then they already are.

and tell me where inflation in the US is 50% per month - cause while steak is $20 LB now its not 50% per month increase which is 600% a year


50 percent

Hyperinflation is very high inflation. Although the threshold is arbitrary, economists generally reserve the term “hyperinflation” to describe episodes when the monthly inflation rate is greater than 50 percent.

Hyperinflation - Econlib​

https://www.econlib.org › library › Enc › Hyperinflation

 

[Aloisius]

ar-bit-ra-ry ... mhmmm.

sounds EXACTLY like e-vol-ve.

doesn't it?

 

[MrFatBoy]

ar-bit-ra-ry ... mhmmm.

sounds EXACTLY like e-vol-ve.

doesn't it?

sounds like your just looking for conspiracy's - its says its arbitrary "but most generally reserve that to be periods of... 50%" as hyper-inflation "

I can admit that 50% is a lot lower that what i would have expected to be called hyper - but you will never admit to being just wrong and look to always twist and justify.

enjoy your fantasies and lets see what you do after this all blows over and nothing like even 25% happens (hopefully) -, cause i l ike steak but buy chicken now mostly ( see how economics work

and yes things evolve - you think if Crypto like BTC replaces fiat currencies the governments wont just do the same thing "well 21 million is not enough so we are upping it to 210 million" and then some other thing, and another ... until it just becomes the digital $ - who do you think will get fucked when that happens?

look, buy trade it make money - all good - wish i knew how to do that - calling it something its not - well.... we are in the age of the internet and social media aren't we.

btw - there was a reason i highlighted arbitrary too - you however just focused on what you think props up you point of view - just saying.

 

[Lorespade]

What a wonderful read. and the original question at the start.
Entropia Universe is such a wonderful game and having it be based in Sweden is a pretty good deal too. The USD is the world reserve currency. Thus the perfect currency for the PED. As the entire world runs off the USD in some way or another. I would Think that being sent currencies from all over the world Mindark is in a unique position to juggle all of these different currencies to basically use the best currency should the dollar die. But i am just a moron on the internet.

As Far as Crypto's go well. Crypto is priced using fiat money anyways. bitcoin priced at 50k+ usd. should there be a hyperinflation cryptos will also inflate as well. OMG Bitcoin to the moon yo. oh, wait could that just be the dollar losing value? So cryptos will go up in value but they won't keep their purchasing power. Much like having a billion Zimbabwe whatever their currency is called. it just ends up buying a single egg. if that. but that being said enjoy the ride up as you will gain some purchasing power perhaps.

Quite simply put the only way to fix the entire system is Backing the currencies with with the precious metals. Hell even a crypto that is backed by precious metals could work well too. To include just owning the metals outright. Its The governments and the bankers in charge of everything. They are the ones that will have to fix the mess they made. The mess that was made many years ago. Not really our problem yet.

Worried about our game and the values of our investments in the game i am sure it will be fine, Reasons being we put value into our investments we have in the game. will i sell my Deeds and shares for 10x the amount i paid for them should the value go up because there is more PED floating about. Maybe Providing that i can still buy $300 Dollars worth of goods with my CLD i bought for 3k ped. selling it for 30k PED would be a trip. but it would have to be producing way more in revenue. and thats the thing is a weaker dollar means more PED flows into the game. It just wouldn't work out So MA would have to peg the PED to something stronger. I don't know for sure but always remember if the world reserve currency fails. the entire world is going to be hurting for sure and playing a game will be a dream until it gets fixed. because well power outages, Banks won't process wire transfers, the poors will riot. you know the fun stuff.

TLDR;
Mindark won't make money and they would put a stop to it and figure out their best course of action. We would as a community have to revalue High Value 0.00 TT Deeds. And Find a way to deposit a more stable currency if you live in the USA. While maybe being able to withdrawal whatever Currency Mindark fell back on to save the game. Best Case Senario.

 

[atomicstorm]

you guys still dont get it - the people will never be in control of the money supply - maybe the ultra rich - but then they already are.

and tell me where inflation in the US is 50% per month - cause while steak is $20 LB now its not 50% per month increase which is 600% a year


50 percent

Hyperinflation is very high inflation. Although the threshold is arbitrary, economists generally reserve the term “hyperinflation” to describe episodes when the monthly inflation rate is greater than 50 percent.

Hyperinflation - Econlib​

https://www.econlib.org › library › Enc › Hyperinflation

You are playing semantic games. Inflation has always been in the double digits for several years (the true inflation, not the manipulated reported version). Inflation currently in the US is conservatively 14% AVERAGE across ALL sectors. It will at least double next year as most grain products will be raised 20-30%. As everything uses grain in some form, this has a cascading effect. Is it 50% every month, no? It doesn't need that to crash the world economies. It just needs heavy handed government interference (CHECK), accelerated inflation vs. high unemployment (CHECK, but because of GOVT interference), or accelerated inflation vs. people saddled with debt (CHECK).

The world economies WILL crash. It is intended and will be folded into CBDCs. All the markets have to be reset for that. Two countries have already launched theirs - with most intending to launch as early as 2023 and as late as 2025. Enough with the semantics. Watch the other hand.

"If you know the enemy and know yourself, you need not fear the result of a hundred battles. If you know yourself but not the enemy, for every victory gained you will also suffer a defeat. If you know neither the enemy nor yourself, you will succumb in every battle." - Sun Tzu

 

[MrFatBoy]

You are playing semantic games. Inflation has always been in the double digits for several years (the true inflation, not the manipulated reported version). Inflation currently in the US is conservatively 14% AVERAGE across ALL sectors. It will at least double next year as most grain products will be raised 20-30%. As everything uses grain in some form, this has a cascading effect. Is it 50% every month, no? It doesn't need that to crash the world economies. It just needs heavy handed government interference (CHECK), accelerated inflation vs. high unemployment (CHECK, but because of GOVT interference), or accelerated inflation vs. people saddled with debt (CHECK).

The world economies WILL crash. It is intended and will be folded into CBDCs. All the markets have to be reset for that. Two countries have already launched theirs - with most intending to launch as early as 2023 and as late as 2025. Enough with the semantics. Watch the other hand.

"If you know the enemy and know yourself, you need not fear the result of a hundred battles. If you know yourself but not the enemy, for every victory gained you will also suffer a defeat. If you know neither the enemy nor yourself, you will succumb in every battle." - Sun Tzu

yes i know real inflation is not the headline 2-3% bullshit.

If the economies all crash what good is crypto - how is crypto gonna fix anything when it inflates and deflates 10% in one day - like it just did.

Crypto is not going to replace any fiat - if the $ crashes or something crazy the government will just create the Dollar 2.0

As for countries using crypto - i only read about El Salvador - and if you think that country has a real economy and implemented Crypto for anything other than corrupt intents then i suggest you move there. And even they did not completely replace their Fiat - name one country that is going to totally replace their fiat.

i don't care if people buy / sell profit on crypto - that's all good. The issue is the silliness of how some people blindly repeat BS because they are all anti this anti that, anti anything that is the establishment.

The people that are the establishment already control most of the crypto like BTC and probably many others. So you are not escaping anything just making easier for the establishment to milk the cows - and you and i are cows in this world or we would not be here wasting time on a shitty game.

There is NO benefit to an average person to replace hard currency with electronic currency - if that happens then good luck as the government will tax every single penny you make while rich guys and corporations get more and more tax breaks from corrupt politicians - just read the TCJA