http://www.zerohedge.com/news/latest-rumor-fed-fund-imf-bypassing-congressional-refusal-european-bailout
Congress can be such a pain in the ass sometimes....
Congress can be such a pain in the ass sometimes....
Fed and IMF.
- Thread starter ssd
- Start date
i?m certainly no economist, but if an entity prints and distributes fiat money out of thin air and then loans that fake money to other banks and eventually other countries ? who then purchase real and valuable goods ? and they in turn will most certainly default on their loans as they always have ? when the loaners of this fiat money call in these same debts and take possession of the real and valuable goods ? hmmm ? the term escapes me?..what could it be??any guesses?
Mankind has been using fiat money since the first caveman traded an edible lizard for a shiny stone, and later traded the shiny stone for two birds, or since a Native American traded wampum for a spear.
Fiat money, whether it's bank notes, CDs, or bits of shiny metal will be fine for as long as you'll live.
A hundred years ago a piece of shiny metal would buy you dinner or the services of a lady companion, or a bushel of corn Today a paper bill is equally well accepted by restaurants, hookers and farmers.
The gold bugs think gold has "intrinsic" value. That is, of course laughable. It's price fluctuates like any commodity.
Try trading a gold coin for the last dose of Cipro, or the last hunk of cheese in town, two things which actually do have intrinsic value. One can save your life in the event of disease, the other can save your life in the event of famine. Gold? What's it's intrinsic value?:lol:
Fiat money, whether it's bank notes, CDs, or bits of shiny metal will be fine for as long as you'll live.
A hundred years ago a piece of shiny metal would buy you dinner or the services of a lady companion, or a bushel of corn Today a paper bill is equally well accepted by restaurants, hookers and farmers.
The gold bugs think gold has "intrinsic" value. That is, of course laughable. It's price fluctuates like any commodity.
Try trading a gold coin for the last dose of Cipro, or the last hunk of cheese in town, two things which actually do have intrinsic value. One can save your life in the event of disease, the other can save your life in the event of famine. Gold? What's it's intrinsic value?:lol:
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Fiat money is awesome!
http://en.wikipedia.org/wiki/Zimbabwean_dollar
in fact - Let's let the FED create Federal Reserve Notes out of thin air and then loan them to US and we can pay them interest on the money that they created, with only the full faith and credit of the USA backing the notes we borrowed from the FED and pay interest to the FED, even though we are the security on those notes!
That might be the awesomest idea ever!
http://en.wikipedia.org/wiki/Zimbabwean_dollar
in fact - Let's let the FED create Federal Reserve Notes out of thin air and then loan them to US and we can pay them interest on the money that they created, with only the full faith and credit of the USA backing the notes we borrowed from the FED and pay interest to the FED, even though we are the security on those notes!
That might be the awesomest idea ever!
You might note the current Federal Funds rate of <0.25%.
Apparently those with considerable money they need to put somewhere safe find "the full faith and credit of the USA" more valuable than that of any other country on earth.
But don't let little facts like that interfere with your ranting.:0003
Currently, yes, they do.
But there are plenty of countries that still have a AAA rating that are getting a good hard look.
US if not far behind Europe in regards to the economic failure.
China, India, Russia, Brazil - these are the countries on the rise.
The amount of capital that has flowed into these countries over the past decade show where the smart money, not the scared money, is going.
But there are plenty of countries that still have a AAA rating that are getting a good hard look.
US if not far behind Europe in regards to the economic failure.
China, India, Russia, Brazil - these are the countries on the rise.
The amount of capital that has flowed into these countries over the past decade show where the smart money, not the scared money, is going.
Yes, of course those countries are beginning to realize their potential, however the rise of other countries does not preclude prosperity in the USA. We may cease to be the sole military and economic superpower, and become one of many prosperous countries like Germany or France, although we will always be larger.
Unless we continue down the road of making political decisions based on ideology instead of fact, a course which will eventually relegate us to third world status.
US is a banana republic in the making.
We will see how prosperous Germany and France really are, soon.
The entire European experiment is getting a severe test.
We will see how prosperous Germany and France really are, soon.
The entire European experiment is getting a severe test.
You may recall that Argentina faced a very severe economic test ten years ago, and they are doing quite well today.
In 2001 their poverty rate was 35%, today it's less than 15%, which is better than the USA.
You may also recall that one important factor in Argentina's fiscal crisis was draconian cuts in government spending. Put that in your Ron Paul pipe and smoke it.
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The USA will become a banana republic only if governed by ideology rather than fact.
Look around. Every banana republic you can name has been ruled by ideologues: military, religious, economic, or political.
Where fact and reason prevail, countries prosper.
It's not that hard a concept to grasp.
Exactly, Duff.
Look around.
US is becoming a banana republic.
Your statement only emphasized my point.
Yes - I know what happened in Argentina.
Political unrest coupled with tremendous public debt and top to bottom corruption. Add in the IMF.
Recipe for disaster.
One could probably make the case that the US is following Argentina's path to economic destruction.
Look around.
US is becoming a banana republic.
Your statement only emphasized my point.
Yes - I know what happened in Argentina.
Political unrest coupled with tremendous public debt and top to bottom corruption. Add in the IMF.
Recipe for disaster.
One could probably make the case that the US is following Argentina's path to economic destruction.
Way back when, I spent a few years instructing Metallurgy, a subject in which I am qualified, nights at a local technical college. All of the students were adults, they were there voluntarily, were paying their own tuition, and had full time day jobs. They were anxious to learn, and insisted, in fact demanded, that I teach a fast-paced and rigorous course. They wanted their money's worth. They pushed me to stay ahead of them, and they all learned the required material and often far more.
Finance and fiscal policy aren't my fields of expertise, but even if I taught where I'm not fully qualified, you would flunk because you ignore basic facts and principles.
You're obviously not a complete dolt. Stop acting like one. One skulnutz is more than enough for this board.
Nice story.
In regards to what?
You took a lot of time and made a lot of noise to point out my flawed thinking in regards to what?
The ONLY thing holding the US together is the fact that it is the world's reserve currency.
Period.
And that status is being threatened already by China.
China now has a gold exchange that trades gold in yuan.
Oops.
Many Middle East countries were pushing for oil to be traded in euros rather than dollars.
How long before they are also traded in yuan?
When countries quit needing to buy dollars or hold dollars in reserve for those ginormous purchases, what do you think happens to all the debt the US has to turn over on a monthly basis?
The torch was passed from Great Britain to the US...it will be passed again from the US to China.
I do not have a degree in Metallurgy. However, I did stay at a Holiday Inn Express last night so maybe that qualifies me?
I do, however, make a very good living for myself trading the markets. I am self -taught with a short mentorship and pay particular attention to what was taught to me and what I have learned through my own observations in the world of finance.
Just because something has always been the way you have known it, does not mean that it can not change.
In regards to what?
You took a lot of time and made a lot of noise to point out my flawed thinking in regards to what?
The ONLY thing holding the US together is the fact that it is the world's reserve currency.
Period.
And that status is being threatened already by China.
China now has a gold exchange that trades gold in yuan.
Oops.
Many Middle East countries were pushing for oil to be traded in euros rather than dollars.
How long before they are also traded in yuan?
When countries quit needing to buy dollars or hold dollars in reserve for those ginormous purchases, what do you think happens to all the debt the US has to turn over on a monthly basis?
The torch was passed from Great Britain to the US...it will be passed again from the US to China.
I do not have a degree in Metallurgy. However, I did stay at a Holiday Inn Express last night so maybe that qualifies me?
I do, however, make a very good living for myself trading the markets. I am self -taught with a short mentorship and pay particular attention to what was taught to me and what I have learned through my own observations in the world of finance.
Just because something has always been the way you have known it, does not mean that it can not change.
