Here's what the problem with money is

AssHatZombie said:
The Failure of Money
The Daily Reckoning Sep 26, 2012, 7:10 AM
Since the end of the Gold Standard in 1971, the US dollar has lost over 80 percent of its purchasing power due to the uninhibited money creation of the
Federal Reserve
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This is generally true.

In 1971, a house averaged around $12500. Today a house averages around $380,000; thirty times higher.
In 1971, a new car averaged $3472. Today, you are looking at least at $20,100. An EV is twice that, around $40,000.
In 1971, a pound of hamburger cost $0.60. Today, a pound of hamburger is around $5.20.
In 1971, a gallon of gasoline was around $0.36/gal. Today, a gallon of gasoline is over $4.
In 1971, an ounce of fine gold was worth around $44. Today, an ounce of fine gold is worth $1900.

AssHatZombie said:
Fiat currency, a system by which a currency only retains its value by “fiat” or decree by a government, leaves a central bank free to create money from thin air, reducing the value of the currency already in circulation.
Click to expand...
Correct. As inflation hits everywhere, it also hits the government. They therefore print even more money to cover those expenses. A self feeding spiral resulting in hyperinflation (a cash crash).
AssHatZombie said:
Fiat currency has reigned in the last forty years, but every fiat currency that has existed in history has eventually failed. A study of 775 fiat currencies indicates the average life expectancy of fiat currencies is 27 years, with some taking a month to crash and others surviving for centuries.
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Basically ever since the Bretton Woods model was rejected by governments running short on cash because of their inability to manage their own money.
AssHatZombie said:
The two longest-surviving currencies are the British Pound and the US Dollar, both of which have lost the vast majority of their original value.
Click to expand...
Rather irrelevant, since most of that time, these currencies were based on weight of a precious metal, rather than just empty currency with no reference to anything.
AssHatZombie said:
The US is also deeply in debt, which encourages it to inflate its currency in order to reduce the dollar-value of that debt. Will the dollar beat the odds and survive? If it fails, what comes next?
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No. It cannot survive now. It's only a matter of time. How much time remains is unknown, but because people are already looking around for another currency, it's probably not long.
What comes next? People will simply start using another currency. There is nothing any government can do to stop it.

The biggest contenders:
Gold and silver, traditionally solid currencies since mining gold and silver is difficult and generally takes place at a rate slower than wealth being created through capitalism. Innovation and product improvements create a naturally deflationary environment (think of how expensive computers were in the 60's compared to now!) that is healthy for the economy. Cash remains king, as prices slowly fall due to innovation and more products and services being offered via capitalism. Gold's purity and weight are easily checked by the simplest of equipment. It is very difficult to counterfeit gold. Silver is usually the day to day currency in such a system, since gold is worth so much.

The SDR (or Special Drawing Right), an international trading currency that is based on a basket of other currencies. This 'world bank' currency is moving toward a gold standard. Of fiat currencies, though, it currently has the cleanest balance sheet. If it moves to a gold standard, then international trade will once again take place in gold and silver, already mentioned above. Even if it doesn't turn to a gold standard, it's use will force nations to come to a reckoning about their own currencies.

Digital currency, specifically Bitcoin (although your idea of Fuckcoin could be popular!). This currency is based on a block chain and cannot be arbitrarily printed by any government or indeed anyone. Once all objects ('coins') that satisfy the block chain algorithm are found, that number of available coins in the block chain will never increase any more. It is easy to use tiny fractions of a Coin to conduct transactions, which are done electronically via multi-time pad encryption, which itself is protected by a public/private key encryption system to send the pad (the same sort of encryption used by banks and SSL websites today (anything with an https:// in the URL). Already, Bitcoin is becoming popular as a currency in Japan, some localized areas of the States, and in some localized places in Europe.

Digital currency has some major problems to overcome however. It requires access to the internet to conduct transactions at all. If a password to a Wallet is lost, there is no recovering the lost Coins that are in it. The number of available Coins are indeed reduced (and more valuable), but you won't be able to take part in it due to the locked Wallet. Further, digital currency is not easily understood. There are many misconceptions around it, including such things as it's not 'real' currency (it is), it's controlled by some mysterious 'owner' or 'illuminati' (it isn't), the general lack of knowledge on how to set up a Wallet or conduct a transaction, or why the concept works as a currency (which requires a fair amount of programming and cryptography knowledge). As a result, digital currency tends be favored by tech savvy people, and few others.

In my opinion, gold and silver will be the future currency. It has worked in the past and there is nothing about it that prevents modern banking practices of handling loans, contracts, credit and debit cards, electronic transactions (the life blood of places like Amazon and thousands of other businesses selling stuff on line), or practical day to day use. You can fill up your car and pay cash using a few silver coins, or buy a house and use about a dozen gold coins. All very practical amounts to deal with. With electronic transactions still available via debit and credit cards, you would swipe your card in the gas pump the same way you do now.

Already some nations are already on or moving to a gold standard (which includes a silver standard) including Russia and Iran. More are preparing. These include China, and the UK, and Germany (there is a definite possibility of Germany breaking away from the European Union) and returning to using the Mark again, based on a gold standard. If that happens, life in places like Italy and Greece will get quite earnest, since they are economic basket cases depending on Germany for...well...everything.

I think we could see a return to gold and silver as a widely accepted currency in our lifetime. I also think that most people are not prepared to handle a change in currency.

AssHatZombie said:
Learn how to protect your assets against inflation. Sign up for The Daily Reckoning.
Click to expand...
I am not familiar with this magazine, but yes. it's time to get out of the dollar and protect your wealth. Buy real estate, diamonds, fine art, gold, silver, anything that will hold value in these coming days. Fiat currency such as the dollar ain't it.
AssHatZombie said:
The Failure of Money originally appeared in the Daily Reckoning. The Daily Reckoning, published by Agora Financial provides over 400,000 global readers economic news, market analysis, and contrarian investment ideas. ".
https://www.businessinsider.com/the-failure-of-money-2012-9
Click to expand...
Like I said, I am not familiar with the Daily Reckoning, but it sounds like their advice is relatively solid.
 
danielpalos said:
All of the infrastructure that needs it. Version 2.0, please.

Click to expand...

While an interesting (and expensive) roadway (that can't handle heavy loads well), and one that leaves itself open to ballast deterioration and sinkholes due to draining water under itself), this has nothing to do with the value of any currency.
 
danielpalos said:
You think that is Bad, the Gold Standard was discontinued. If failed?
Click to expand...

No. It didn't fail.

Governments abandoned it because they were running out of cash due to their mishandling of it.

People still trade in gold and silver today. It needs no government to regulate it. An ounce of gold is still an ounce of gold. An ounce of silver is still an ounce of silver. Prices set in these units require NO government at all. Indeed, government has no say whatsoever. Being generally broke, their own options become quite limited. Governments do not want gold or silver. They want fiat money so they can continue to print wads of it when they feel like it. Governments want inflation. They think they can control it, but in the end, they can't. Their fiat currency collapses. It's simply not practical to conduct business or even try to set a price in it anymore.

If gold and silver became common in use, the federal government and much of the State government would simply cease to exist in anything like it's present size. The shock would be tremendous. People are so dependent on government handouts, welfare programs, government 'services' in every conceivable areas of their lives, etc. To see all that disappear almost overnight would quite probably result in civil war.

And not just in the States. Many nations are sitting in the same boat.

In the end, it would be an extremely healthy a change, but it would be a major shock. With less government getting in the way, economies would boom.

But it takes getting people off the government tit and getting them to be productive members of society again.
 
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Into the Night said:
While an interesting (and expensive) roadway (that can't handle heavy loads well), and one that leaves itself open to ballast deterioration and sinkholes due to draining water under itself), this has nothing to do with the value of any currency.
Click to expand...
I agree to disagree. Version 2.0 is even supposed to harvest rainwater.
 
Into the Night said:
No. It didn't fail.

Governments abandoned it because they were running out of cash due to their mishandling of it.

People still trade in gold and silver today. It needs no government to regulate it. An ounce of gold is still an ounce of gold. An ounce of silver is still an ounce of silver. Prices set in these units require NO government at all. Indeed, government has no say whatsoever. Being generally broke, their own options become quite limited. Governments do not want gold or silver. They want fiat money so they can continue to print wads of it when they feel like it. Governments want inflation. They think they can control it, but in the end, they can't. Their fiat currency collapses. It's simply not practical to conduct business or even try to set a price in it anymore.

If gold and silver became common in use, the federal government and much of the State government would simply cease to exist in anything like it's present size. The shock would be tremendous. People are so dependent on government handouts, welfare programs, government 'services' in every conceivable areas of their lives, etc. To see all that disappear almost overnight would quite probably result in civil war.

And not just in the States. Many nations are sitting in the same boat.

In the end, it would be an extremely healthy a change, but it would be a major shock. With less government getting in the way, economies would boom.

But it takes getting people off the government tit and getting them to be productive members of society again.
Click to expand...
We are not using it now? It must have failed.
 
Into the Night said:
This is generally true.

In 1971, a house averaged around $12500. Today a house averages around $380,000; thirty times higher.
In 1971, a new car averaged $3472. Today, you are looking at least at $20,100. An EV is twice that, around $40,000.
In 1971, a pound of hamburger cost $0.60. Today, a pound of hamburger is around $5.20.
In 1971, a gallon of gasoline was around $0.36/gal. Today, a gallon of gasoline is over $4.
In 1971, an ounce of fine gold was worth around $44. Today, an ounce of fine gold is worth $1900.


Correct. As inflation hits everywhere, it also hits the government. They therefore print even more money to cover those expenses. A self feeding spiral resulting in hyperinflation (a cash crash).

Basically ever since the Bretton Woods model was rejected by governments running short on cash because of their inability to manage their own money.

Rather irrelevant, since most of that time, these currencies were based on weight of a precious metal, rather than just empty currency with no reference to anything.

No. It cannot survive now. It's only a matter of time. How much time remains is unknown, but because people are already looking around for another currency, it's probably not long.
What comes next? People will simply start using another currency. There is nothing any government can do to stop it.

The biggest contenders:
Gold and silver, traditionally solid currencies since mining gold and silver is difficult and generally takes place at a rate slower than wealth being created through capitalism. Innovation and product improvements create a naturally deflationary environment (think of how expensive computers were in the 60's compared to now!) that is healthy for the economy. Cash remains king, as prices slowly fall due to innovation and more products and services being offered via capitalism. Gold's purity and weight are easily checked by the simplest of equipment. It is very difficult to counterfeit gold. Silver is usually the day to day currency in such a system, since gold is worth so much.

The SDR (or Special Drawing Right), an international trading currency that is based on a basket of other currencies. This 'world bank' currency is moving toward a gold standard. Of fiat currencies, though, it currently has the cleanest balance sheet. If it moves to a gold standard, then international trade will once again take place in gold and silver, already mentioned above. Even if it doesn't turn to a gold standard, it's use will force nations to come to a reckoning about their own currencies.

Digital currency, specifically Bitcoin (although your idea of Fuckcoin could be popular!). This currency is based on a block chain and cannot be arbitrarily printed by any government or indeed anyone. Once all objects ('coins') that satisfy the block chain algorithm are found, that number of available coins in the block chain will never increase any more. It is easy to use tiny fractions of a Coin to conduct transactions, which are done electronically via multi-time pad encryption, which itself is protected by a public/private key encryption system to send the pad (the same sort of encryption used by banks and SSL websites today (anything with an https:// in the URL). Already, Bitcoin is becoming popular as a currency in Japan, some localized areas of the States, and in some localized places in Europe.

Digital currency has some major problems to overcome however. It requires access to the internet to conduct transactions at all. If a password to a Wallet is lost, there is no recovering the lost Coins that are in it. The number of available Coins are indeed reduced (and more valuable), but you won't be able to take part in it due to the locked Wallet. Further, digital currency is not easily understood. There are many misconceptions around it, including such things as it's not 'real' currency (it is), it's controlled by some mysterious 'owner' or 'illuminati' (it isn't), the general lack of knowledge on how to set up a Wallet or conduct a transaction, or why the concept works as a currency (which requires a fair amount of programming and cryptography knowledge). As a result, digital currency tends be favored by tech savvy people, and few others.

In my opinion, gold and silver will be the future currency. It has worked in the past and there is nothing about it that prevents modern banking practices of handling loans, contracts, credit and debit cards, electronic transactions (the life blood of places like Amazon and thousands of other businesses selling stuff on line), or practical day to day use. You can fill up your car and pay cash using a few silver coins, or buy a house and use about a dozen gold coins. All very practical amounts to deal with. With electronic transactions still available via debit and credit cards, you would swipe your card in the gas pump the same way you do now.

Already some nations are already on or moving to a gold standard (which includes a silver standard) including Russia and Iran. More are preparing. These include China, and the UK, and Germany (there is a definite possibility of Germany breaking away from the European Union) and returning to using the Mark again, based on a gold standard. If that happens, life in places like Italy and Greece will get quite earnest, since they are economic basket cases depending on Germany for...well...everything.

I think we could see a return to gold and silver as a widely accepted currency in our lifetime. I also think that most people are not prepared to handle a change in currency.


I am not familiar with this magazine, but yes. it's time to get out of the dollar and protect your wealth. Buy real estate, diamonds, fine art, gold, silver, anything that will hold value in these coming days. Fiat currency such as the dollar ain't it.

Like I said, I am not familiar with the Daily Reckoning, but it sounds like their advice is relatively solid.
Click to expand...

yes we can survive. with the right action, and attitude.

You push negativity because you're globalist traitor who doesnt want to take the right actions.
 
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AssHatZombie said:
yes we can survive. with the right action, and attitude.

You push negativity because you're globalist traitor who doesnt want to take the right actions.
Click to expand...

Argue or get lost clown.
And if you don't understand the below idiot, here's something for you to understand...




Where's what an argument regarding what money does looks like idiot...

Imagine you do the same thing with the same amount of money twice from its beginning until its end , but one of the times that it takes you more time and effort.
Would you choose again and again to do it when it takes you more time and effort to do it with the same amount of money, doing the same thing?

But why is the above an argument regarding what money does idiot?
Let's see if all here read and understand WHY I AM DOING THIS? Why is that?
To show you how many idiots around you think they know what money does...
...and keep wasting our time and effort with their endless "money" stories.

Do you understand that players here?
Really?
Yes players, really...WHAT PLAYERS?!
NOT REALLY?!!!

How is it that I know that people are reading what I write idiot?
https://www.facebook.com/AlexandrosTsolis/
 
The history of money is a very interesting thing, in small villages it simply used to be about cooperating... When I had extra chickens and you were hungry, I would give you a few, then when you had extra water buckets and I needed them you would give me some. It was about cooperating and being in a community, but money keeping exact track which changed things significantly.


The guy with chickens would keep notes on who he gave how many chickens to, and then demand water buckets later, it was less community and more of an exchange.

Money exacerbated that.
 
the problem with money is that you idiots don't know what money does...
apparently you can't handle the sound of that...
...well sometimes it is more fun than what you can handle at that moment in your life.
"Hey wait, but sometimes it is less fun than what I want at that moment in my life"
Yes, but when you are having a good time, eh then it is just the right amount of fun.
...and to find those times, I am afraid...
...you need patience to have fun.





Here's what an argument regarding what money does looks like ...

Imagine you do the same thing with the same amount of money twice from its beginning until its end , but one of the times that it takes you more time and effort.
Would you choose again and again to do it when it takes you more time and effort to do it with the same amount of money, doing the same thing?

But why is the above an argument regarding what money does?

Let's see if all here read and understand WHY I AM DOING THIS? Why is that?
To show you how many idiots around you think they know what money does...
...and keep wasting our time and effort with their endless "money" stories.:mad:

Do you understand that players here?
Really?
Yes players, really...WHAT PLAYERS?!
NOT REALLY?!!!

How is it that I know that people are reading what I write ?
https://www.facebook.com/AlexandrosTsolis/
 
AssHatZombie said:
you're a total fucking idiot.
Click to expand...

the problem with money is that you idiots don't know what money does...
apparently you can't handle the sound of that...
...well sometimes it is more fun than what you can handle at that moment in your life.
"Hey wait, but sometimes it is less fun than what I want at that moment in my life"
Yes, but when you are having a good time, eh then it is just the right amount of fun.
...and to find those times, I am afraid...
...you need patience to have fun.





Here's what an argument regarding what money does looks like ...

Imagine you do the same thing with the same amount of money twice from its beginning until its end , but one of the times that it takes you more time and effort.
Would you choose again and again to do it when it takes you more time and effort to do it with the same amount of money, doing the same thing?

But why is the above an argument regarding what money does?

Let's see if all here read and understand WHY I AM DOING THIS? Why is that?
To show you how many idiots around you think they know what money does...
...and keep wasting our time and effort with their endless "money" stories.:mad:

Do you understand that players here?
Really?
Yes players, really...WHAT PLAYERS?!
NOT REALLY?!!!

How is it that I know that people are reading what I write ?
https://www.facebook.com/AlexandrosTsolis/
 
Into the Night said:
Bulverism fallacy.

You are describing yourself.

It did.

Try English. It works better.

'Blue' (Democrats) gave us high inflation, massive shortages, high unemployement, three years of economic depression, the inability to determine the sex of an individual, the nullification of the very meaning of marriage, violent mobs burning, looting, and pillaging cities, massive voter suppression through election fraud, tyranny through the Church of Global Warming and the Church of Covid, a massive homeless problem in the cities, open looting and increasing crime due to no police or severely underfunded police, and disasters like the SDTC, the SOTNY, and The Oligarchy, high fuel prices, a moron in the White House that can't even read his fucking lines on the teleprompter and likes to sniff women and talk about his hairy legs to children, an open border that lets thousands stream across daily, and tyranny in general. 'Blue' hates America, discard the Constitution of the United States and all State constitutions, uses every means to divide based on race, gender, age, etc. If you want more tyranny and The Oligarchy, vote Blue.

'Red' (Republicans) gave us lower taxes, reduced bureaucracy, brought businesses back to the United States and improved the economy as a result of getting government out of the way of business, which hired many workers. It unified Americans under a common pride. They felt good about their country. They started new construction, built new businesses, mined coal and drilled and process more energy than ever, lowering gas prices to less than $2/gal, and honor the Constitution of the United States and the constitutions of the several States, support police and generally try to maintain law and order, don't care what your race is, what your age is, what your gender is, or any classification of people, are doing what they can to reduce voter suppression due to election fraud, etc. If you want less tyranny and the blessings of keeping more of what you produce in your hands instead of the government's, vote Red.
Click to expand...
VERY well said. This is precisely why I vote red (and why it is "open hunting season" for RINOs).
 
danielpalos said:
I agree to disagree. Version 2.0 is even supposed to harvest rainwater.
Click to expand...

An improvement...and store it where? Who or what benefits from this rain water collection?

You DO realize, don't you, that the problem is getting RID of all the storm water?

Why do you think they built those huge concrete washes through downtown L.A.?
Why do you think cities have built extensive plumbing just to get that rainwater to the nearest river?
 
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