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  1. #1
    Prowler Aloisius's Avatar
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    Hyperinflated USD might actually be happening now. Is there a contingency plan?

    I have been thinking about this for some time now. I've asked soc mates and others how hyperinflation would affect this game. No one seems to think it's possible. But in the real world almost every financial news advisory is warning people to get gold, silver or bitcoin. I'm quite sure they are right. Now, since EU's economy is intricately related to the USD currency, how will hyperinflation affect us and the RCE in Entropia Universe?

  2. #2
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    Well currently 1 AUD is buying 0.69 USD, so for Australians its good as our deposits go further.

    I wouldn't worry too much as China and Japan own Trillions of USD bonds so it isn't in their interest to let the US economy falter. Yes there will be a big ass recession/depression in the US due to the 40 million unemployed, COVID, race riots and likely Q2 and Q3 poor earnings data etc.

    The current sentiment is that there will be a second stock market crash as Wall street is in current fantasy land. Company share prices can't keep going up when they are making losses. June/July will be brutal for the stock market.
    Some countries are having second waves of infections, some are still struggling with the first wave of infections.

    Just hang in tight, your PED are fairly safe in game.
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  3. #3
    Stalker Rocket192's Avatar
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    Hey there I run a commodities pool and work on a hedging desk for a bank.


    hyperinflation of USD relative to other currencies won't happen, other nations are forced to print money faster than the US...


    inflation vs. commodities is about all you need to concern yourself with. i.e. goods get cheaper, exchange rates stay the same, and services get cheaper (barely).

  4. #4
    Prowler Aloisius's Avatar
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    Quote Originally Posted by Few Scars View Post
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    Well currently 1 AUD is buying 0.69 USD, so for Australians its good as our deposits go further.

    I wouldn't worry too much as China and Japan own Trillions of USD bonds so it isn't in their interest to let the US economy falter. Yes there will be a big ass recession/depression in the US due to the 40 million unemployed, COVID, race riots and likely Q2 and Q3 poor earnings data etc.

    The current sentiment is that there will be a second stock market crash as Wall street is in current fantasy land. Company share prices can't keep going up when they are making losses. June/July will be brutal for the stock market.
    Some countries are having second waves of infections, some are still struggling with the first wave of infections.

    Just hang in tight, your PED are fairly safe in game.
    Seems legit but doesn't answer the question. It's the values I'm getting at here.

    Right now, 30 peds buys you a starbucks coffee. In a hyperinflation scenario, if the FED gets their way, a starbucks coffee will cost 10 or 100 USD therfore 1000 PED will get you the same coffee. Is there anything missing here?

    I seriously see an issue here not just my account value but the entire survival of the EU potentially and the entire community should be thinking about this.

    Imagine if we do go hyperinflated that would lower the "value" of your ingame storage, right?


    Quote Originally Posted by Rocket192 View Post
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    hyperinflation of USD relative to other currencies won't happen, other nations are forced to print money faster than the US...

    inflation vs. commodities is about all you need to concern yourself with. i.e. goods get cheaper, exchange rates stay the same, and services get cheaper (barely).
    I suppose hyperinflation might be the wrong keyword here. If it's a collapse of the fiat system I'm seeing, how would a new financial system backed by gold look to PED holders after the reset?
    Last edited by Aloisius; 06-04-2020 at 04:19.

  5. #5
    Stalker Rocket192's Avatar
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    Quote Originally Posted by Aloisius View Post
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    I suppose hyperinflation might be the wrong keyword here. If it's a collapse of the fiat system I'm seeing, how would a new financial system backed by gold look to PED holders after the reset?

    our firm is preparing for some sort of new synthetic/digital dollar if/when we move off of USD as the world reserve currency (no not bitcoin don't get excited).

  6. #6
    Prowler Aloisius's Avatar
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    Quote Originally Posted by Rocket192 View Post
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    our firm is preparing for some sort of new synthetic/digital dollar if/when we move off of USD as the world reserve currency (no not bitcoin don't get excited).
    very interesting anecdote supports my query. i wonder if MA is thinking about this?

  7. #7
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    Quote Originally Posted by Aloisius View Post
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    Imagine if we do go hyperinflated that would lower the "value" of your ingame storage, right?
    Short answer: Yes

    Longer answer:
    It'll be ok.
    - The US is going through a very, very bad period right now. However, hyperinflation is something i dont foresee. Too many things for that are in order.
    - MA could change the anchor for the PED to a different currency than the US $. The US $ has, historically been a stable currency, but times change.

    Crypto, because of it's design (decentralised) would mean a huge change for MA. Now all deposits/withdrawals g through MA. Earning them a cut on all transactions. With crypto that would be gone.

  8. #8
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    Bitcoin is the answer

    MA better base the currency off Bitcoin or some crypto before the dollar hyperinflates.

  9. #9
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    I doubt we will get hyperinflation, but it is probably likely the fed will target higher inflation in its policies than it has in the past, since inflation reduces the burden of existing debt which the us is growing in massive abundance at the moment.

  10. #10
    Quote Originally Posted by aVaLON_52 View Post
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    MA better base the currency off Bitcoin or some crypto before the dollar hyperinflates.
    yep, should probably peg a currency that in the last 30 days has been between $8,800 and $10,200.. seems stable enough... jeeeeezus...

    no. no. no.

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