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FIAT money, explained


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The argument for a return to the gold standard is common sense

 

A debt based currency is unsustainable

 

A gold based currency is sustainable

 

FIAT currency is a currency based on trust as you already explained. Now you're saying it's something else. How is FIAT currency unsustainable - apart from your say so?

 

How would "developing countries" eg most of Africa fare with a return to gold standard - wouldn't it permanently condemn them to poverty?

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FIAT currency is a currency based on trust as you already explained

 

Based primarily on DEBT and uncoupled from value

 

How is FIAT currency unsustainable - apart from your say so?

 

The total globe is trading at nearly 300% debt to GDP

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Based primarily on DEBT and uncoupled from value

 

 

 

The total globe is trading at nearly 300% debt to GDP

 

And how does that compare historically - the UK had a debts of 238% of GDP at the end of WWII - no collapse.

 

BTW what is this "value" you are on about - gold is only as valuable as we want it to be (much to the chagrin of people who own gold). Tell me Sol - how much gold you got?

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And how does that compare historically - the UK had a debts of 238% of GDP at the end of WWII - no collapse

 

WWII was orchestrated for precisely that reason, to end the depression

 

Why do you think the US military industrial complex is so keen to start a fight with Syria/Iran now?

 

BTW what is this "value" you are on about - gold is only as valuable as we want it to be

 

It is the only commodity that has consistently held value, since the dawn of time

 

Tell me Sol - how much gold you got?

 

I have a little

 

Most of my investment is in Silver

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And how does that compare historically - the UK had a debts of 238% of GDP at the end of WWII - no collapse

 

The gold standard ended in 1971

 

That is the crucial difference between the last depression and this one

 

---------- Post added 17-04-2015 at 21:22 ----------

 

Lol - a genius at re-writing history as well as an economic genius :cool:

 

It's just the truth dude :)

 

---------- Post added 17-04-2015 at 21:25 ----------

 

If you haven't watched

 

I really recommend that you do

 

It's the best Kaiser report yet

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How would "developing countries" eg most of Africa fare with a return to gold standard - wouldn't it permanently condemn them to poverty?

 

Wouldn't that depend on whether they have big gold reserves under their land? A country with large gold reserves would have every reason to give up all forms of agriculture and manufacture and instead just spend their time digging up and processing more gold.

 

In a world with an expanding population and a set amount of gold (which is not evenly distributed throughout the earth's crust) surely this is as unfair and as unsustainable as a FIAT currency?

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The gold standard ended in 1971

 

That is the crucial difference between the last depression and this one

 

---------- Post added 17-04-2015 at 21:22 ----------

 

 

It's just the truth dude :)

 

---------- Post added 17-04-2015 at 21:25 ----------

 

If you haven't watched

 

I really recommend that you do

 

It's the best Kaiser report yet

 

Don't you mean Keiser? I mean - it's inability to even get names of your gurus right that makes me think you ain't that clued up on economics.

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Don't you mean Keiser? I mean - it's inability to even get names of your gurus right that makes me think you ain't that clued up on economics

 

Yes I do mean Keiser, thank you for pointing that out

 

Don't take our information from websites of dubious provender?

 

And I'm not the only one to make spelling mistakes dude ;)

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