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Coming: The End of Fiat Money

cohodkcohodk Posts: 19,098 ✭✭✭✭✭
in Precious Metals
Somebody will have to help me with the link as I believe you need a subscription.

Today, Pomboy predicts something more draconian: the demise of fiat money
Excuses are tools of the ignorant

Knowledge is the enemy of fear

Comments

  • tincuptincup Posts: 5,122 ✭✭✭✭✭
    Not able to read the article, since I also do not have a subscription.

    The powers that be want a totally digital money; so it will be interesting to see how it all plays out, since a sizable fraction of the worlds population want hard assets, or something that can be held.
    ----- kj
  • derrybderryb Posts: 36,790 ✭✭✭✭✭
    no demise, just add more zeros to it. Worked for these guys. . . for a while.

    image

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • tincuptincup Posts: 5,122 ✭✭✭✭✭
    This may be the article


    Fiat Money
    ----- kj
  • cohodkcohodk Posts: 19,098 ✭✭✭✭✭


    << <i>This may be the article


    Fiat Money >>




    Thats it Tincup. Thank you.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • SpoolySpooly Posts: 2,108 ✭✭✭
    Et tu, Brute? ....... or Et tu cohodk?

    (evil grin)

    Si vis pacem, para bellum

    In God We Trust.... all others pay in Gold and Silver!
  • jmski52jmski52 Posts: 22,820 ✭✭✭✭✭
    Even though I think that precious metals are the smartest place to be in the short, medium and medium-long term, I still find it very worrisome to think that the monetary system I've known most of my life is probably on the way out.

    The article being referenced tracks the same basic scenario that I expect, more or less. Asset implosion, cash reigns supreme - for a year, maybe. In the meantime, gold emerges as a core monetary asset and revaluation occurs. At that point, I don't know. There will be a time to buy into stock ownership again, but I don't think it will be any time soon. And since stock ownership is an expression of confidence in the American system, I feel betrayed even though we've seen this fiscal mess coming on for many years.

    The American framework used to be pretty good as far as imperfect systems go and the Constitution is truly a Masterpiece, but it has been glombed-up with so much corruption and cronyism that I don't see any patches that will fix it, short of a massive turnover in the entire population of entrenched bankers, politicians & bureaucrats, in addition to a rollback of the last 12,000 pages in the US Code.

    The harder it is to have an honest and open public discourse on who pays for what, the harder it will be to have any recovery in the economic system. We aren't even started on that one yet. Reality has a way of intevening when the money runs out. My parents were right after all. Get yourself an education and make yourself useful. There are no guarantees.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • cohodkcohodk Posts: 19,098 ✭✭✭✭✭


    << <i>Et tu, Brute? ....... or Et tu cohodk?

    (evil grin) >>



    LOL. Let it never be said that I am biased.image
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • BaleyBaley Posts: 22,660 ✭✭✭✭✭
    I fully expect my grandchildren (my kids are 6 and 4) to use dollars, and the same dollars we use and our grandparents used. Sure, a house will be a million and a gallon of gas will be $10, but they'll make $200,000 a year and it will all work out just fine..

    Liberty: Parent of Science & Industry

  • NumbersUsacomNumbersUsacom Posts: 1,457 ✭
    Very good article, glad you brought our attention to it.
    NumbersUsa, FairUs, Alipac, CapsWeb, and TeamAmericaPac
  • streeterstreeter Posts: 4,312 ✭✭✭✭✭
    Not actually having dollars in hand will adversely effect the underclass. And the vending machine business. And the convenience store business. Among many others.

    I can see transactions above a certain $$$ level being paperless real soon. A lot of business's won't take anything above a $20 right now.
    Have a nice day
  • NumbersUsacomNumbersUsacom Posts: 1,457 ✭
    Check out the 1:05 or so area of this videoGold
    NumbersUsa, FairUs, Alipac, CapsWeb, and TeamAmericaPac
  • cohodkcohodk Posts: 19,098 ✭✭✭✭✭
    40 years ago people had the saem concerns and worries as today. And I expect the same 40 years from now.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • renman95renman95 Posts: 7,037 ✭✭✭✭✭


    << <i>no demise, just add more zeros to it. Worked for these guys. . . for a while.

    image >>



    Anyone see a demonic face on the left side of the bottom rock? Actually the whole rock could be considered demonic.
  • 57loaded57loaded Posts: 4,967 ✭✭✭


    << <i>40 years ago people had the saem concerns and worries as today. And I expect the same 40 years from now. >>



    Dave...still think a soft landing?
  • OPAOPA Posts: 17,119 ✭✭✭✭✭


    << <i>40 years ago people had the saem concerns and worries as today. And I expect the same 40 years from now. >>



    In addition, 40 years ago, the so called "smart money" predicted the doom of cash and the beginning of a cashless society.

    Same tune as today, just different fiddle players.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • cohodkcohodk Posts: 19,098 ✭✭✭✭✭


    << <i>

    << <i>40 years ago people had the saem concerns and worries as today. And I expect the same 40 years from now. >>



    Dave...still think a soft landing? >>



    Define "soft".image
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • 57loaded57loaded Posts: 4,967 ✭✭✭


    << <i>

    << <i>

    << <i>40 years ago people had the saem concerns and worries as today. And I expect the same 40 years from now. >>



    Dave...still think a soft landing? >>



    Define "soft".image >>



    i still think a pancake landing,

    image

    or

    image

    still gonna hurt image
  • derrybderryb Posts: 36,790 ✭✭✭✭✭
    "Forget about yield. Forget about return. Just keep yourself liquid and preserve your capital, because you can't predict the day when, as I say, the great margin call in the sky comes down."- David Stockman

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • TwinturboTwinturbo Posts: 493


    << <i>

    << <i>no demise, just add more zeros to it. Worked for these guys. . . for a while.

    image >>



    Anyone see a demonic face on the left side of the bottom rock? Actually the whole rock could be considered demonic. >>



    Its supposed to resemble mugabe the great leader who turned the breadbasket of africa into hell on earth.
  • renman95renman95 Posts: 7,037 ✭✭✭✭✭


    << <i>"Forget about yield. Forget about return. Just keep yourself liquid and preserve your capital, because you can't predict the day when, as I say, the great margin call in the sky comes down."- David Stockman >>



    Good read, thankx.
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