WaterMan Posted April 16, 2011 Share Posted April 16, 2011 http://www.youtube.com/watch?v=pnteMtJt73k Quote Link to comment Share on other sites More sharing options...
Avernus Posted April 16, 2011 Share Posted April 16, 2011 yes, especially the fact that other countries have to use USD to buy oil, etc from other countries which quite a few people don't know about... and as Mike Maloney said about our monetary system, we create a new monetary system every 30-35 years and the current one has lasted 40 years and it's starting to show some serious cracks in the foundation. I have no problem with anything being used as currency as long as the people believes it as money - we just need a system that can't be manipulated, unlike the current system that creates money out of debt which is just an ongoing snowball... the only problem is that while the FED keeps printing more USD, banks are loaning out money that doesn't even exist which means that we're sort of on a paper money/digital currency system......which is fine, but if everyone did a bank run then about half the people might get their money...or maybe more who knows?... but just know that when you open a new line of credit, it's money created out of thin air and isn't printed even though when you go out and buy something, the person who receives the money is supposed to be able to take it out as cash if they please....or just use a debit transaction and keep perpetuating the current flawed system... I could go deeper....but we have enough people here to add to this Quote Link to comment Share on other sites More sharing options...
WaterMan Posted April 16, 2011 Author Share Posted April 16, 2011 I've heard those things before. I don't understand why our government thought this monetary system was a good idea to begin with. Quote Link to comment Share on other sites More sharing options...
Avernus Posted April 16, 2011 Share Posted April 16, 2011 I've heard those things before. I don't understand why our government thought this monetary system was a good idea to begin with. and there the conspiracy begins.... The prior monetary system we had was the Bretton Woods Monetary system which backed the dollar up with gold and thus backing all foreign currencies by the same thing since they're all tied to us. The problem is that when Nixon took us off the Bretton Woods system in favor of the current system backed by debt which allows the currency to be manipulated in countless ways. I think we'll be seeing a new monetary policy in the next 3-5 years (hopefully sooner)...but it will have to be a global currency even though we are sort of using a global/digital currency now.....I think this is where we're headed.. pretty much, your money represents the time spent working for it even though the future generations will have to work even harder to pay off the debts from the current generation... Quote Link to comment Share on other sites More sharing options...
WaterMan Posted April 16, 2011 Author Share Posted April 16, 2011 In the 34 years before Nixon closed the gold window, the money supply in the U.S. grew less than two fold. In the 34 years after Nixon’s action, the money supply expanded 13 fold and the Fed Reserve has taken the US gold. Nice. Quote Link to comment Share on other sites More sharing options...
bushwacked Posted April 16, 2011 Share Posted April 16, 2011 http://www.youtube.com/watch?v=pnteMtJt73k I believe this has already been posted and our resident econ expert's opinion was that it was bunk. Quote Link to comment Share on other sites More sharing options...
Avernus Posted April 17, 2011 Share Posted April 17, 2011 I believe this has already been posted and our resident econ expert's opinion was that it was bunk. nope Quote Link to comment Share on other sites More sharing options...
Azazello1313 Posted April 17, 2011 Share Posted April 17, 2011 it won't be long now... Quote Link to comment Share on other sites More sharing options...
bushwacked Posted April 17, 2011 Share Posted April 17, 2011 but I expect things to begin moving steady downward around February-April.... It won't be long now. Quote Link to comment Share on other sites More sharing options...
Avernus Posted April 17, 2011 Share Posted April 17, 2011 It won't be long now. and what does this have to do with this thread?.... ps: it's still groundhog day.... Quote Link to comment Share on other sites More sharing options...
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