Is Fiat money a pozi scheme?

Originally posted by whodey
Translated: It put a straight jacket on the beast. Now the beast has been unleashed and the world is it's victim.

I just love the words "limited government" In fact, I would just assume make a recording of it and play it over, and over, and over......

In the end, however, we all know the culprit of the futuristic collapse. It would have to be the failure of capitalism!!! 😠😛😵 LOL

Reading is hard. Having an artifically low amount of money in the economy limits economic activity not the government. "As an economy’s productive capacity grows, then so should its money supply. Because a gold standard requires that money be backed in the metal, then the scarcity of the metal constrains the ability of the economy to produce more capital and grow.”
David A. Mayer quoted in the Wiki article on the gold standard.

So if you want an economy that produces at the level of say the 1800s. go back to the gold standard.

Originally posted by no1marauder
Reading is hard. Having an artifically low amount of money in the economy limits economic activity not the government. "As an economy’s productive capacity grows, then so should its money supply. Because a gold standard requires that money be backed in the metal, then the scarcity of the metal constrains the ability of the economy to produce more capital ...[text shortened]... you want an economy that produces at the level of say the 1800s. go back to the gold standard.

1800's?

Reading is very hard it seems. The US went to the fiat system in 1971.

Originally posted by whodey
1800's?

Reading is very hard it seems. The US went to the fiat system in 1971.

That's amusing. Totally wrong, but amusing. The United States has been issuing fiat currency since 1861.

Originally posted by no1marauder
That's amusing. Totally wrong, but amusing. The United States has been issuing fiat currency since 1861.

The US was on the gold standard until 1971. As I have pointed out, there have been times when fiat money was used, but only in times of finanical stress, such as WW2. For you see, at these times it is less important to balance budgets than to defend a nation at war with necessary spending.

You are both wrong. Fiat money has been here before our country officially began.

http://21stcenturycicero.wordpress.com/fraud/colonial-scrip/

Competition would keep the value of currencies from decreasing as much. The FRS has a monopoly on the issuance of US currency. That is the real problem.

Originally posted by Metal Brain
You are both wrong. Fiat money has been here before our country officially began.

http://21stcenturycicero.wordpress.com/fraud/colonial-scrip/

Competition would keep the value of currencies from decreasing as much. The FRS has a monopoly on the issuance of US currency. That is the real problem.

Yes or no, the US was taken off the gold standard in 1971.

Originally posted by whodey
Yes or no, the US was taken off the gold standard in 1971.

That is true, but Colonial Scrip was not backed by gold either. That way no interest was charged for gold from Britain. That is why the British Empire wanted to bring an end to it.

Fiat money has been used on and off for longer than even no1 thought. Those that had gold wanted that system to continue. Now they have found out inflation is a good scam too.

Now gold can protect you from that inflation. Silver too. Competition can keep Fiat money inflation low. The FRS will keep doing what they are doing and that is tax with inflation. They have no competition in this country.

Originally posted by Metal Brain
Now gold can protect you from that inflation. Silver too. Competition can keep Fiat money inflation low. The FRS will keep doing what they are doing and that is tax with inflation. They have no competition in this country.

As you yourself observe, they do in fact have competition, because you can swap your dollars for commodities like gold and silver, which can "protect you from inflation". So if you're worried about inflation and think the price of gold is going to rise relative to the dollar, swap some of your dollars for gold!

Or swap your dollars for a foreign currency which seems less prone to inflation. The Japanese yen, whose value is very stable (indeed, which has experienced some deflation in recent years) would be a sensible choice. Investors the world over seem to think so, since (as I experienced to my cost on a recent research trip to Japan), the yen has pretty much doubled in value against Western currencies since 2008.

Granted, you can't actually spend your gold or your yen in the United States, but you can swap them back to dollars whenever you feel you need to do so, and might make a profit in the process.

Originally posted by Metal Brain
That is true, but Colonial Scrip was not backed by gold either. That way no interest was charged for gold from Britain. That is why the British Empire wanted to bring an end to it.

Fiat money has been used on and off for longer than even no1 thought. Those that had gold wanted that system to continue. Now they have found out inflation is a good scam t ...[text shortened]... ng what they are doing and that is tax with inflation. They have no competition in this country.

They are flirting with hyperinflation. As the article I provided indicates, when it happens it happens quickly, without any time to react.

I dare say gold will have little value at such a time, esepecially since they refuse to go back to the gold standard and because you can't eat and drink gold.

I'm glad to at least see you see it is all a scam.

Originally posted by whodey
They are flirting with hyperinflation. As the article I provided indicates, when it happens it happens quickly, without any time to react.

I dare say gold will have little value at such a time, esepecially since they refuse to go back to the gold standard and because you can't eat and drink gold.

I'm glad to at least see you see it is all a scam.

No, in fact there will be hyperdeflation soon. I have no argument to back that up, though there's probably some article on the internet that says so.

Anything you copy paste that is contrary to what I have posted is just plain silly. Cant you even read?

Originally posted by whodey
The US was on the gold standard until 1971. As I have pointed out, there have been times when fiat money was used, but only in times of finanical stress, such as WW2. For you see, at these times it is less important to balance budgets than to defend a nation at war with necessary spending.

Yes the final abandonment of the gold Standard was when you say. The foundations were being laid far further back. The largest step toward total fiat currency was in 1913 with the establishment of the Fed.

Fiat money, will always end up a Ponzi scheme, last in are screwed, and even a gold standard is no real protection from corrupt government.

Originally posted by KazetNagorra
No, in fact there will be hyperdeflation soon. I have no argument to back that up, though there's probably some article on the internet that says so.

Hyperinflation is real, has happened many times in the past, but can be held off by more manipulation by the nation in power.