Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
The Fed is at the bottom of its bag of tricks and if this doesn't work we're pretty well screwed.
We're pretty well screwed as it is.
The Fed is desperately trying to save its funny money fiat-currency. It's a very profitable gig, be assured! The elitist bankers don't want it to end, as that's their bread and butter. Nice work if you can get it.
But, all for naught. The Federal Reserve Note is toast. It's almost 38 years old now, and these paper things average about a 35-year lifespan.
Don't go looking for any Ameros. The US dollar is totally different than the Federal Reserve Note. It is the latter that is dying, not the former.
The US dollar is defined in our Constitution as 731.25 grains of fine silver. And that has never been altered by a Constitutional Amendment.
The US dollar is defined in our Constitution as 731.25 grains of fine silver. And that has never been altered by a Constitutional Amendment.
I think this is what you're referring to, not the Constitution. BIG difference. I believe this was all changed in the mid-60s, when US coins were changed and no longer contained silver.
The Fed is desperately trying to save its funny money fiat-currency. It's a very profitable gig, be assured! The elitist bankers don't want it to end, as that's their bread and butter. Nice work if you can get it.
But, all for naught. The Federal Reserve Note is toast. It's almost 38 years old now, and these paper things average about a 35-year lifespan.
Don't go looking for any Ameros. The US dollar is totally different than the Federal Reserve Note. It is the latter that is dying, not the former.
The US dollar is defined in our Constitution as 731.25 grains of fine silver. And that has never been altered by a Constitutional Amendment.
Hi Nor'Easta,
Its not really the dollar that is in trouble. Its the consumer economy supported by real estate. They are out of phony growth. If they decide to do a by pass to the financial industry and toss out the bank accounting rules then we can talk about the dollar dying.
in part: japan is suddenly out of the picture. petrostates are dealing with the collapse in global demand for and price of oil by shutting down petrodollar reinvestment flows and, in some cases, actually shedding reserves. china is faced with shortly following japan. and, as cited in the financial times, bank of new york mellon runs the sums and notes that even 8% american domestic savings rate by the end of 2010 -- which would correspond to a depression-level contraction in spending -- would raise just $830bn in potential domestic finance for treasury against something on the order of $4tn in deficit spending plans.
Quantitative easing is just theft from anyone that has savings.
It can only lead to rapid inflation by devaluing of any money that is already held by the people.
It is a way of stealing money from you, without you realizing.
So if the banks have no faith in our economy (presumably they know our wealth 'creation' is phony) and the government is debasing our currency like it's going out of style, to no avail, it should stand to reason that when you go down the rabbit hole, the root cause of this is the general economy itself. The service economy needs to be tossed out the window. I'm not saying go back to making shoes and harvesting sugar cane and tea, but we have to become a producer economy once again, and regain some competitive advantage with the very currency debasing we currently got going on.
Simply put, the idea of a country full of college degreed paper pushers, baristas, JCPenney cashiers and insurance agents, where everybody calls themselves "managers" and "consultants" is simply unsustainable. More real goods, less service don't ya think? So long as the service economy is the driving force behind all our collective actions (and as cheerled by MSNBC and the CNN idiot) we're on the way to currency implosion.
I'm not saying go back to making shoes .... we have to become a producer economy once again, and regain some competitive advantage with the very currency debasing we currently got going on.
Simply put, the idea of a country full of college-degreed paper pushers ... where everybody calls themselves "managers" and "consultants" is simply unsustainable. More real goods, less service don't ya think?
Yes, indeed.
But to quibble a bit, how do you know a priori that somewhere on this vast continent, that produces things like cattle and cotton, the US does not have a comparative advantage (and not because of currency devaluation) in producing shoes and socks just as much as in producing, let's say, biofuel technology?
If so, why cannot some of these pencil pushers and deadbeat debtors be put to work in such factories, like it used to be, simply because that is what they are really worth economically? Because they want to feel like managers and consultants? So let'm feel that way. Footwear engineer?
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
