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  1. #41
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    Quote Originally Posted by varikonniemi View Post
    Well, every FIAT currency that has EVER existed has ended in hyper inflation. If it is possible to inflate, the ones in charge will do it since it brings more money to those in charge.[...]
    Nonsense, take the US dollar for instance. Real hyperinflation is correlated with the non-existence/powerlessness of government such as when the French occupied the economic hartland of the germans in 1923 or the Zimbabwe nowadays.
    Quote Originally Posted by brosis
    Quote Originally Posted by smitty
    You can say the same thing about gold, though, and the world dropped the gold standard for good reasons.
    Not "world", but "banks".

    Not due to "good reason", but ONLY to be able to INFLATE (read "bubble") the money.
    Again nonsense, it is ridiculous to peg the capacity to produce goods such as cars or electronic appliances to the amount of stuff of a certain specific metal you can dig out of the ground.

  2. #42
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    The US dollar is so young it has not yet reached hyperinflation, it is not even 50 years old! YET is the keyword here, it is on a good course towards it, reaching very high inflation the last few years.

    http://en.wikipedia.org/wiki/Hyperin...hyperinflation

    There is a reason no fiat money has ever reached even close to a century of use before it has collapsed into hyperinflation. Usually people want to reap the benefits during their lifetime and the way to benefit from fiat is by printing more.
    Last edited by varikonniemi; 05-01-2013 at 06:53 AM.

  3. #43
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    Quote Originally Posted by Wilfred View Post
    Real hyperinflation is correlated with the non-existence/powerlessness of government such as when the French occupied the economic hartland of the germans in 1923 or the Zimbabwe nowadays.
    The generally accepted theory among historians is that the German government was not powerless against hyperinflation, but chose to use it as tool to eliminate the public debt.
    Quote Originally Posted by Wilfred View Post
    Again nonsense, it is ridiculous to peg the capacity to produce goods such as cars or electronic appliances to the amount of stuff of a certain specific metal you can dig out of the ground.
    Nonsense. Of course a fixed exchange rate with gold will not limit the capacity to produce goods. But it can lead to deflation which causes other problems.

  4. #44
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    Quote Originally Posted by varikonniemi View Post
    The US dollar is so young it has not yet reached hyperinflation, it is not even 50 years old! YET is the keyword here, it is on a good course towards it, reaching very high inflation the last few years.
    In other words, when you said every currency reached hyperinflation, you were full of shit. What you meant was, I personally believe they will all end in hyperinflation. But you don't have any proof or justification. Just a belief, and like any religion or political belief, nothing is going to change your mind.

  5. #45
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    Are you a bit slow? If everyone who does jump of the cliff dies from the fall, will you jump off the cliff just because someone notices "hey! That guy jumped and has not YET reached the ground!". Then i try to point out "look at ALL those bodies right where you are going to land!". You laugh at this and jump screaming "you were full of shi---" SPLAT

    What makes you think that after hundreds of failed ones, the us dollar will be the first FIAT to live to a hundred years?

    Idiocy is doing the same thing over and over again expecting different results. The fiat money theory is broken and cannot yield anything but corruption and ultimately hyperinflation. It is time for plan B(itcoin).
    Last edited by varikonniemi; 05-02-2013 at 02:14 AM.

  6. #46
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    Quote Originally Posted by varikonniemi View Post
    Are you a bit slow? If everyone who does jump of the cliff dies from the fall, will you jump off the cliff just because someone notices "hey! That guy jumped and has not YET reached the ground!". Then i try to point out "look at ALL those bodies right where you are going to land!". You laugh at this and jump screaming "you were full of shi---" SPLAT

    What makes you think that after hundreds of failed ones, the us dollar will be the first FIAT to live to a hundred years?

    Idiocy is doing the same thing over and over again expecting different results. The fiat money theory is broken and cannot yield anything but corruption and ultimately hyperinflation. It is time for plan B(itcoin).
    Your analogy is false: predicting that gravity will have an effect on a person is pretty certain, predicting the vagaries of a currency 50 years in the future is not. There are too many unknowns in the equation to be able to state something like that with any sensible level of certainty.

    You quote Einstein with respect to idiocy, but don't appear to appreciate that things now are different to 50 years ago, and even more different to 100 years ago. We have different systems, methods and ideas now that would probably have been unthinkable in the past. To say that we're doing the same thing as 50 years ago is to focus so narrowly on one aspect of a financial system that everything else (including its context) gets ignored, and financial systems are not free of context by a long way.

  7. #47
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    Quote Originally Posted by varikonniemi View Post
    Are you a bit slow? If everyone who does jump of the cliff dies from the fall, will you jump off the cliff just because someone notices "hey! That guy jumped and has not YET reached the ground!". Then i try to point out "look at ALL those bodies right where you are going to land!". You laugh at this and jump screaming "you were full of shi---" SPLAT
    My entire point is that fiat money isn't like jumping off a cliff at all. You think it is, but have no proof. I think it's not. It's more like driving a car to work every morning. Occasionally, you hear stories about a wreck that's killed someone. That doesn't mean i'm going to try walking to work instead of driving. That would just be stupid.

    Getting rid of fiat money could easily trigger massive hyperdeflation. It's a lot more likely than hyperinflation caused by staying on it.

    What makes you think that after hundreds of failed ones, the us dollar will be the first FIAT to live to a hundred years?
    Come on now, there haven't been that many. Paper money has only existed for about 900 years total, and fiat money is a lot newer. How many were even around before 1913 that would be eligible for your test? You seriously don't think the US dollar will be around for 20 more years? Even if everything is as big a disaster as you think, the government could push the can down along the road for that long.

    What's the ratio of fiat currencies that have never crashed versus those that were destroyed? Over 99% i'd wager. But of course you'll just point out that they haven't crashed yet, as if that was proof that they someday will.
    Last edited by smitty3268; 05-02-2013 at 04:14 AM.

  8. #48
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    Quote Originally Posted by varikonniemi View Post

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