Ad blocker detected: Our website is made possible by displaying online advertisements to our visitors. Disable your ad blocker to continue using our website.
Without question or doubt, the dollar is the world's only international financial currency.
Since the beginning of time, the average lifespan of ANY government created currency is 27 years.
In EVERY case of a created currency the issuing government has not been able to resist the temptation of borrowing against that said currency in order to produce a temporally inflated positive economic perception. EVERY currency thus far.
In EVERY case thus far the said currency has been borrowed against until that particular currency is absolutely worthless in terms of real value; actual value.
Uh, um, Okay, I uh...I didn't realize that.[sarcasm off]
I know it is rather unimportant - in comparison to attempting to attack the original poster, but there actually is a topic within this important thread.
1)The graph, like most of your post, is a fiction.
2)The graph represents a choice. The political class choose to have a "National Debt", as this is the means by which they make their personal fortunes whilst screwing the populace out of tax, to feed the imaginary monster of N debt.
3) The fact is that, as all money is now Fiat Money; not based on metal; not a commodity, the government cannot run out of money as it has the power to wipe out the National Debt tomorrow, by creating more as it wills.
Hobbes' Choice wrote:
The fact is that, as all money is now Fiat Money; not based on metal; not a commodity
That's true since there's no gold standard or other precious metal's standard upholding it's paper and digital counterparts which has no value of its own.
Hobbes' Choice wrote: ...the government cannot run out of money[/i] as it has the power to wipe out the National Debt tomorrow, by creating more as it wills.
Technically they can but not so in reality without Americans taking home their wages in virtual wheelbarrows with much of the Western World following. As a "reserve currency" they have a special obligation to avoid such scenarios but eventually it'll all breakdown anyways through total mismanagement, greed and corruption in high places.
Gresham's Law
Gresham's Law is backwards.
Bad money doesn't drive out good money,
Good money drives out bad money,
Pure money drives out impure money,
Real money drives out counterfeit money.
What is counterfeit money?
A gold coin.
Hobbes' Choice wrote:
The fact is that, as all money is now Fiat Money; not based on metal; not a commodity
That's true since there's no gold standard or other precious metal's standard upholding it's paper and digital counterparts which has no value of its own.
Hobbes' Choice wrote: ...the government cannot run out of money[/i] as it has the power to wipe out the National Debt tomorrow, by creating more as it wills.
Technically they can but not so in reality without Americans taking home their wages in virtual wheelbarrows with much of the Western World following. As a "reserve currency" they have a special obligation to avoid such scenarios but eventually it'll all breakdown anyways through total mismanagement, greed and corruption in high places.
Those virtual wheelbarrows already exist, except that they are wheeled down the road to the banks for "quantitative easing". The whole thing has been a massive scam.
In the UK £385 billion was handed over to the banks after the 2008.
Who has to pay?
Think it over!
bobevenson wrote:Gresham's Law
Gresham's Law is backwards.
Bad money doesn't drive out good money,
Good money drives out bad money,
Pure money drives out impure money,
Real money drives out counterfeit money.
What is counterfeit money?
A gold coin.
There is no such thing as 'pure money' you dozy git.
