On how worthless our current monetary system is. Takes about 25 minutes but its worth it
Interesting for sure
Come on guys, these guys are precious metal retailers.
They’re selling and need you to buy. The are so called “sound money advocates” to sell you precious metals.
Gold does not prevent what they think it does.
Fractional reserve lending is not inherently evil if reserve levels are appropriate.
There is nothing wrong with me or a bank lending you money if it is backed by an asset. That is, if I can force sale of the asset to satifify the loan.
For he explanation of a workable system that would prevent banks for emitting excess credit, see the following article.
Links dead Mike. Either way, the video wasn’t about the problem with fractional reserve lending, it was about the creationism of currency from nothing and creating currency by creating it plus a debt, that can’t be repaid ever. If you borrow the only dollar in existence into debt, then you can never get out of that debt and to keep creating dollars you keep creating more debt. Eventually the whole system will fail and the dollar will be completely worthless as a currency and something else will have to take it’s place. When that happens is the only questions.
Sorry about that. Try this one instead.
BTW-Gold backed currency does not solve the problems you think it does
If its better or not…its really doesn’t matter because the policy makers (the govt and fed) will do what is in their interests. What would be best for the people…is not really a priority.
If you think gold has a chance of being the next reserve currency…I have a question for you:
Who has the largest holdings of gold. The group of people with the largest holdings would hold the greatest wealth of the world. So who is it? The Fed? The US govt? The Chinese govt? None of the above…its the people of India. Why would the fed and us govt give away all their power and wealth to the people of India?
Here is another question…when Wiemar Germany was in full blown hyperinflation, a new currency was introduced that brought stability to the market and stopped the hyperinflation. What was that currency back with. Gold??..nope. Look it up. I was supprised by this one.
History shows that those in power do not tend to give that power up quietly. Many times they tell us we they are making changes to help us…but with time its obvious that the changes actually screwed us more. Talk is just talk…actions are what matter. Obamacare is a perfect example. Most people think it is protection from the insurance companies but in reality the insurance companies lobbyists wrote most of the bill. Their stocks went up when the bill passed and has continued to go up as the law has been implemented. Regardless…most people still think the new law protects them from the insurance companies. Political rhetoric has a lot of resilience when backed up and promoted by the media.
Any reforms after a currency collapse will likely be similar. Those in power will say they are helping us, but the reality is they will help themselves and crony friends at our expense. Never let a tragedy go to waste.
Mike, I only said it was interesting I never said I agreed with the schmucks.
My comment was not directed at you per se.
Just those who think gold backed currency solves all ills.
It’s doesn’t . It can’t. It won’t.