Re: borodog\'s mistaken understanding of M3...don\'t listen to his drive
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it isn't an absolute that lowering interest rates lowers the value of the dollar (which is what the OP in the last thread seemed to believe), just because it is true most of the time.
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It isn't an absolute that AA will beat 67, but it is an absolute that getting your chips in with 67 vs. AA is -EV.
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it doesn't help anyone to say "the fed is printing money and devaluing the dollar" other than your own clan or people you are trying to convert. it would be far better if you actually explained things the way they are so that those people don't get a distorted idea of the order of operations. it wouldn't sound as good but it would be more useful in the long run so that your convertees could intelligently argue their points.
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I'm pretty sure 2X + 3X = 5X. If you for some reason (perhaps you make a career out of such things) want to spend an endless amount of energy arguing why it equals 5.2X, you shouldn't trick yourself into thinking there need be a complicated counter-argument.
Quite simply, the fed is printing money and devaluing the dollar.
In other news, I'm glad to see this thread is alive and well.
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