https://www.thoughtco.com/the-bank-war-by-president-andrew-jackson-1773350
"The Bank War was a long and bitter struggle waged by President Andrew Jackson in the 1830s against the Second Bank of the United States, a federal institution that Jackson sought to destroy. Jackson's stubborn skepticism about banks escalated into a highly personal battle between the president of the country and the president of the bank, Nicholas Biddle. The conflict over the bank became an issue in the presidential election of 1832, in which Jackson defeated Henry Clay."
The irony is now Jackson has totally lost. Of course this is over 200 years ago, but I think he would be rolling in his grave if he knew. Just remember USD is 'backed' by absolutely nothing but confidence. Federal Reserve is not "Federal' and is a private institution owned by the banks. It's exactly what he was against, but with enough time and propaganda this is where we are at.
So once again the DXY which is a comparison to all other currencies in USD is strong in comparison. This is why I very much stress getting your 'assets' in your current currency and buying GOLD or SILVER. Not financial advice but most currencies are rallying in GOLD terms. Yes Gold may be down compared to the USD but you could use your USD to buy assets at a larger discount.
Unfortunately the REAL truth is that it's purchasing power within the United States is down at least 8%. This should be the writing on the wall. If you are based in the United States you are getting a discount. Anywhere else your currency is debased compared to the Cleanest dirty shirt.
So spinning this around HBD is an incredible opportunity for 'arbitrage'. If you are blogging in the states or elsewhere in the world you are getting something that is coveted by many places in the world at the moment. That would be the shitty USD which compared to other currencies is doing well. It's ironically almost an inflation hedge but within a bubble. It's still losing purchasing power.
So not financial advice, but you could use your HBD for savings at 20%, or you can convert the stronger currency to your local currency and retain a little purchasing power. You could of course also convert HBD to assets but I already said I'll be hoarding #HIVE and #HBD. Hive is a pretty good place to know about. We are special.
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I am not really that skilled to understand how the US economy works, but I do understand that purchasing power has been lost for a long time in my country. There is no longer the ability to save, if you start saving money (Bolivars), cash in your house or liquid money in the bank, you lose it after two or three days, as hyperinflation eats it up. When you get your salary, you must spend it immediately on what you need to cover your immediate needs, you cannot leave anything for unforeseen events. Inflation is so atrocious that the US dollar loses its value as well. I think this is the only country where the American currency devalues constantly, every hour....
Greetings @bearbear613 from my dear Venezuela.
En realidad no soy tan hábil para entender cómo funciona la economía de los Estados Unidos, pero si entiendo que el poder adquisitivo se perdió desde hace mucho tiempo en mi país. Ya no existe la capacidad de ahorro, sí empiezas a guardar dinero (Bolívares), efectivo en tu casa o dinero líquido en el banco, lo pierdes al pasar dos o tres días, ya que la hiperinflación se lo come. Al cobrar el sueldo, se debe gastar de inmediato en lo que necesitas para cubrir tus necesidades inmediatas, no puedes dejar nada para imprevistos. La inflación es tan atroz que el Dólar americano pierde también su valor. Creo que éste es el único país en donde la moneda americana se devalúa constantemente, cada hora…
Saludos @bearbear613 desde mi querida Venezuela.
My wife and I went to Nashville this past spring and we got to take a tour of Andrew Jacksons Hermitage. It is a pretty cool estate. One of only three fully preserved presidential houses in the country I think. Anyway. We had to watch a video at the beginning of the tour and they talked about the bank war. I couldn't help but thinking after watching the thing that Andrew Jackson might have been a big fan of cryptocurrency.
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All of the founding fathers would have been huge fans. Only wish we started out with decentralized currencies and their grip on power would be hardly justified.
!1UP HBD is one of the most interesting parts of Hive, and sooner rather than later it'll bring lots of attention to the blockchain!
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