Philosophy Now Forum

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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.


What do you make of this graph?






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And how long have phony arguments have been put up against the national debt? I.e. that it'll lead to the US going bankrupt?

PhilX

Bill Wiltrack wrote:.
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Since the beginning of time, the average lifespan of ANY government created currency is 27 years. ...

Doesn't mean much, for example the UK pound/sterling is anything from 300 to 1200 years old.

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Sorry. I should have re-worded the sentence to read;



Since the beginning of time, the average lifespan of ANY government created currency is 27 years.


*Thank you for being so perceptive...






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And I was pointing out that averages mean very little without context. Thanks for being so dense.

Bill Wiltrack wrote:.




Sorry. I should have re-worded the sentence to read;



Since the beginning of time, the average lifespan of ANY government created currency is 27 years.


*Thank you for being so perceptive...






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You've just repeated yourself Bill.

PhilX

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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.





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Bill Wiltrack wrote:.




Sorry. I should have re-worded the sentence to read;



Since the beginning of time, the average lifespan of ANY government created currency is 27 years.


*Thank you for being so perceptive...


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I think you are still wrong.
Where are you getting this stuff?

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.


Why does it not do this? See paragraph two.

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.

Bill Wiltrack wrote:

What do you make of this graph?

It's not very exciting for smart people who know what words like exponential and compound mean.

For someone like you, I suppose it would look very important.

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I thank all three of you for attempting to address the meat contained within the scope of this thread.

All of your viewpoints are accepted and appreciated. I understand where all of you are coming from.






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Dubious wrote:

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.