APP - Ron Paul explains world currency

Getting gold from the aztecs worked because you could trade it for something from other countries. A fiat money system obviously doesn't work the same way. Banks don't want to debase the currency. Inflation makes loans less profitable, and since banks are obviously just a store of lots of dollars, inflation hurts banks worse than any other institution. Banks want deflation. They want their wealth to go up at the expense of the real wealth of Americans, and that's why they're financing Ron Paul to spout these lies, obviously. Ron Paul - bought and paid for by the banking industry of the US.
 
apple0154 said:
I just wasted an hour of my life. :-(

Your link is a guy trying to sell financial advice. A load of crap.

Buy gold. Buy gold. Yes, we know. We've heard it all before.

The guy is a doom-sayer. He talks about a food and water and other vital commodities shortage.

THINK! If you're in a desert with 10 people and one has water is he going to sell it to the guy who offers gold? Or silver? Or US$? Or is he going to keep the water for himself?

If times become as desperate as he claims it's the guy with the gun who is going to eat and drink. Not the dude with the gold investment, I can assure you.

Just another scam to get people to invest in his quasi-financial/doom-saying nonsense.

They'll be a crisis, all right. Just like the crisis that hit the people who invested in Exxon. Just like the crisis that hit the people who invested in Lehman Brothers. Just like the millions of citizens who have seen their investments shrink.

Rather then people investing in their government, paying their taxes and keeping their governments afloat to provide services, they trust people who straight-faced say, "Give me your money and I'll show you how to make money."

Yea, that will work...NOT!

Higher prices? Inflation? Devaluation? Maybe. Crisis, to the extent he implies? No!

Is Exxon here to help the folks? Lehman Brothers? Your broker? Will he help supply water or try to get food to you? Don't count on it. He'll have your money and be long gone.

After I spent the better part of an hour listening to that scum bag indulge me for a minute.

Want to talk about crisis and conspiracy theories? Why do you think the Repubs want to get government out of people's lives? Privatize pensions? Private medical? Whittle down the responsibility of government? Pare down government assistance programs? Why?

Because as more and more responsibilities are passed to the individual knowing the vast majority of them do not know anything about financial dealings, considering the government and others who should have known about the financial crisis did not know, the government is making itself removed from any possible crisis. What obligation would/should the government shoulder if the government is not involved in various aspects of citizen's lives?

As the government divests itself of programs (pensions, medical, financial assistance, etc) it will have no obligation to assist in a crisis. That means it will not have the moral or legal authority to insist everyone help. In a sense it will be like things were before The New Deal and other government programs since then.

If one believes a crisis is coming this is the worst time to abandon government. Those "few" people with power would like nothing more than to see individuals insist governments divest themselves of responsibility and watch those same individuals walk themselves into poverty. Then the reply will be, "It's not the government's responsibility."

The government has the power, the physical force, to ensure all citizens get minimum assistance and will do so IF they are tasked with the job which means those who have plenty will be compelled to share.

It's nice to think we are, as individuals, smarter than everyone else and we'll make a lot of money and be better off than everyone else but the reality is quite different and history had shown that.

Yes, a big change is coming. It's foolhardy for those to believe "I'll make it but hundreds and thousands won't." The odds are those "I'll make it" folks will be part of the hundreds and thousands who don't make it just like those who have lost their life savings in poor investments.

Don't get scammed and if you think a crisis is inevitable then think about who is going to help you. Who has the ability? The power? The will? The government or your financial adviser?
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I suggest that you liquidate all your hard assets and have lots of cash in the bank. :)
 
Glorious Watermark XVII said:
Getting gold from the aztecs worked because you could trade it for something from other countries. A fiat money system obviously doesn't work the same way. Banks don't want to debase the currency. Inflation makes loans less profitable, and since banks are obviously just a store of lots of dollars, inflation hurts banks worse than any other institution. Banks want deflation. They want their wealth to go up at the expense of the real wealth of Americans, and that's why they're financing Ron Paul to spout these lies, obviously. Ron Paul - bought and paid for by the banking industry of the US.
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Wrong. Banks love fiat money. Without the fiat money system they would all have to actually work.
 
Glorious Watermark XVII said:
Getting gold from the aztecs worked because you could trade it for something from other countries. A fiat money system obviously doesn't work the same way. Banks don't want to debase the currency. Inflation makes loans less profitable, and since banks are obviously just a store of lots of dollars, inflation hurts banks worse than any other institution. Banks want deflation. They want their wealth to go up at the expense of the real wealth of Americans, and that's why they're financing Ron Paul to spout these lies, obviously. Ron Paul - bought and paid for by the banking industry of the US.
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Ron Paul for president!
 
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