[ExI] [Extropolis] AI and interest rates

[William Flynn Wallace]

Yeah, I'd like to know where to put my excess money.

Gold, and not any other thing in this world, has such a very high symbolic
value.  If you've got gold you are rich and safe.  It will never drop to
the value of silver or anything else (Van Gogh?).   bill w

On Sat, Jun 3, 2023 at 10:52 AM John Clark <johnkclark at gmail.com> wrote:

> I have a theory about interest rates and I'd like to know what those who
> know more about economics than I do think about it.
>
> When it comes to economic forecasting the generally accepted beliefs that
> an economy's population has is all important, and it doesn't even matter if
> that belief is true. So on the day it becomes generally accepted that the
>  AI singularity is near and a very drastic increase in productivity is
> imminent I believe there will be a BIG increase in interest rates, because
> a dollar in your pocket right now will be more important to you than a
> million dollars will be in 20 years, even if you manage to survive the
> singularity which you very will might not. And if you don't survive then
> the value of a dollar to you will be precisely zero, so you might as well
> spend it today and have a little fun and not loan it out. So regardless of
> if you believe you will survive the singularity or not, for you to be
> willing to loan me a dollar today if you were a logical you would demand
> that I give you many many more dollars tomorrow as repayment. Put it
> another way, in a few years a dollar will enable you to buy far more stuff
> than it can today, so you'd want to save your money and not lend it out
> unless you were given a very big reason to do so, such as an astronomically
> high interest-rate.
>
> If I'm right about this then that would mean those who think they are
> being conservative and safe by investing in low interest government or
> corporate bonds will be disappointed because the value of all low interest
> investments that are supposed to be safe will crash. But that leads to
> another question that I don't have a clear answer to, even if I decide to
> save my money and not loan it out, how am I supposed to safely do that?
> I'm sure some will immediately say "gold" but I have no reason to believe
> that in a post singularity world that particular metal will be
> significantly more valuable than iron. Iron is much more common than gold
> but iron is also much more useful than gold.
>
> John K Clark
> See what's on my new list at  Extropolis
> <https://groups.google.com/g/extropolis>
>
>
>
> --
> You received this message because you are subscribed to the Google Groups
> "extropolis" group.
> To unsubscribe from this group and stop receiving emails from it, send an
> email to extropolis+unsubscribe at googlegroups.com.
> To view this discussion on the web visit
> https://groups.google.com/d/msgid/extropolis/CAJPayv2rONLLVfs_O3q%2BSzsPyNM9CO5fnOXWpAiHGo4rMPdAxg%40mail.gmail.com
> <https://groups.google.com/d/msgid/extropolis/CAJPayv2rONLLVfs_O3q%2BSzsPyNM9CO5fnOXWpAiHGo4rMPdAxg%40mail.gmail.com?utm_medium=email&utm_source=footer>
> .
>
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://lists.extropy.org/pipermail/extropy-chat/attachments/20230603/b301e7be/attachment.htm>