Friday, July 23, 2010

Create A Depression and Terminate Benefits

Winner. Great plan. Create the world's largest corporate socialist superstate on the back of fiat currency and then terminate unemployment benefits for everybody. I'm sure that's going to work out just fine. Americans will be the Palestinians now.

Cosmic fail.


Anonymous said...

Fiat currency isn't the problem, the fact that it isn't in control of the people is the problem. Greedy bankers should never have been given such power, especially when combined with usury.

Of course, gold can also be a fiat currency too. Its worth is determined not through practical usage or any inherant usefulness. Just whatever people decide it is (just like fiat money today). The value of it goes up and down over time too (again, like paper money). If there was an extinction-level event then gold nuggets are just so much rocks when people are starving and the value becomes negligable. Likewise if you had to choose between dying of thirst in the desert there and then and keeping a pile of gold or swapping it for a glass of water. There is no value for it set in stone. It all fluctuates. The difference is that gold will benefit the richest and the gold producers, while a paper or electronic fiat system in control of the people can be controlled for their benefit, maintianing the quantity and preventing many of the problems we see today.

Gold has its dangers as a currency too. There have been crashes, deflation and inflation in gold-based systems and the gold markets have been cornered too, resulting in disasters (and a prosecution at least once before).

Anonymous said...

On a side note...