0
1

[–] Fitblue 0 points 1 point (+1|-0) ago 

Your entire first paragraph is factually wrong.

If you take out a fixed rate loan, the principal and interest portion is not affected by inflation.

In fact, it’s the exact opposite of that. A 30 year fixed rate loan is a hedge against inflation.

0
0

[–] viperguy ago 

If you think THAT mistake is bad, look at the guy in this thread (fluhthreeex) that said I was wrong and that the Russian Ruble ROSE UP in value against the us dollar because google chart showed it going from 33 to 67.7 this week!!!

hah

He did not understand conversion direction !!!

0
0

[–] Fitblue ago 

Haha but at least they’re open to corrections when presented with facts

0
0

[–] vastrightwing ago 

Correct. People tend to view value in terms of USD not value of labor. Bankers can steal your labor by devaluing currency. They can buy the whole economy eventually by flooding enough currency

[–] [deleted] ago 

[Deleted]

0
0

[–] vastrightwing ago 

You sound like me. I totally agree. I especially am amused with derivatives. The ultimate way to hide risk. Then ETFs of ETFs. You just have to laugh at the ways they rig the system. And as soon as you think they've got all the scams possible, Goldman Sachs engineers yet more scams. Matt Tiabbi immortalized Goldman Sachs by saying "The world's most powerful investment bank is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money." Pure poetry!