Post
Topic
Board Economics
Re: Fundamental Analysis of BTC, is BTC overvalued?
by
kjj
on 26/05/2011, 17:03:26 UTC
You just made a fool of yourself.  It’s called monetary policy. http://www.federalreserve.gov/monetarypolicy/default.htm
Also, you are dead wrong about GDP, here’s a direct quote from the Bureau of Economic Analysis:
Real gross domestic product -- the output of goods and services produced by labor and property located in the United States. Source http://www.bea.gov/newsreleases/national/gdp/gdpnewsrelease.htm the opening line.

I’m tired of trying to educate you.  You obviously have your mind made up and wish to stay ignorant.  Do some research and learn about economics before you spout misinformation.

Monetary policy is how they manipulate interest rates, which is not the money supply.  You'd know that if you'd ever read the minutes of the FOMC meetings.  Go find out why Bernake is called "Helicopter Ben".

You might want to look into how GDP is actually calculated.  I'll give you a hint, production is not part of it, but spending is.  They could say that GDP is found by counting unicorns, but that doesn't change the math.  What they actually do is much more important than what they say they do.

Once again, you've done an excellent job dodging my direct challenge, so I'll issue it a third time.  Tell me how exchanging my work for dollars creates dollars (or at least gives them value, somehow) while exchanging my work for bitcoins does not.