Money Is Worthless.

Jun 2018
236
12
U.S.
#1
That is why we have fiat currency. Also, the U.S. is over 18 trillion dollars in debt. And every year we have to waste something around 420 billion dollars just on paying the interest of our national debt. Also, the U.S. has something around 61 trillion dollars worth of unfunded obligations. The reason our economy keeps chugging along despite all that is because our money is worthless. So why does the 1% feel the need to own 99% of the wealth.

Also, there was an economy of sorts on Yap island. People would sail to another island and harvest large stone disks. They weren't much use for barter. What they were good for was status. Our money serves the same purpose and is about just as valuable as a slab of rock. So why not divvy it up a little better. Maybe that would happen if our government actually owned what we call money.

Now I am not saying that those who are of more value to society shouldn't have more. But there has to be limits. If you leave it up to the wealthy, there are no limits. This brings to mind the decadence of a Chinese emperor I heard about. He would wear lavishly embroidered silk underwear. The weight of them was equal to the weight of gold. (If not more) He would only wear them once, then throw them away. This might have possibly made a good market for "old" emperor underwear for someone. But it was still wasteful.
 
Apr 2013
38,305
26,296
La La Land North
#2
That is why we have fiat currency. Also, the U.S. is over 18 trillion dollars in debt. And every year we have to waste something around 420 billion dollars just on paying the interest of our national debt. Also, the U.S. has something around 61 trillion dollars worth of unfunded obligations. The reason our economy keeps chugging along despite all that is because our money is worthless. So why does the 1% feel the need to own 99% of the wealth.

Also, there was an economy of sorts on Yap island. People would sail to another island and harvest large stone disks. They weren't much use for barter. What they were good for was status. Our money serves the same purpose and is about just as valuable as a slab of rock. So why not divvy it up a little better. Maybe that would happen if our government actually owned what we call money.

Now I am not saying that those who are of more value to society shouldn't have more. But there has to be limits. If you leave it up to the wealthy, there are no limits. This brings to mind the decadence of a Chinese emperor I heard about. He would wear lavishly embroidered silk underwear. The weight of them was equal to the weight of gold. (If not more) He would only wear them once, then throw them away. This might have possibly made a good market for "old" emperor underwear for someone. But it was still wasteful.
Next time you're hungry, go to the grocery store and try trading a slab of rock for a nice steak. It won't work. But offer some of that "worthless" money and you will be eating just fine.

Another one who whines and bitches about a fiat currency but hasn't a clue what else could be used.
 
Likes: 1 person
Jun 2018
236
12
U.S.
#3
Next time you're hungry, go to the grocery store and try trading a slab of rock for a nice steak. It won't work. But offer some of that "worthless" money and you will be eating just fine.

Another one who whines and bitches about a fiat currency but hasn't a clue what else could be used.
I don't use slabs of rock. I use food stamps. And before you look down on that, I was watching something on some news program where they said that even an airline pilot they were taking about had to use them.

Next, all currency is a fiat currency. Even gold. It is only worth what whoever thinks it is worth. About the only thing that has any real worth is time and energy. And for the wealty concerning the poor, even that is a cheap commodity. To me, for the most part, the only thing that has any real value is what you produce. The legalese bullshit insurance policies that insurance companies sell isn't that. Yet many make a very good living doing so. The stocks and commodities that are traded in markets aren't that either. But there, many make a very good living doing so. Another thing I heard is that in China, they have hordes of unemployed engineers. But becomming an engineer is a very difficult thing to do. Yet many are unemployed. And that doesn't pay very well.

Also, a friend of mine has a son who was friends with the son of a slum lord. His son told my friends son that all his father had to do was collect money. Many others also make a good living doing so. But like the others, they are just parasites.
 
Apr 2013
38,305
26,296
La La Land North
#4
I don't use slabs of rock. I use food stamps. And before you look down on that, I was watching something on some news program where they said that even an airline pilot they were taking about had to use them.

Next, all currency is a fiat currency. Even gold. It is only worth what whoever thinks it is worth. About the only thing that has any real worth is time and energy. And for the wealty concerning the poor, even that is a cheap commodity. To me, for the most part, the only thing that has any real value is what you produce. The legalese bullshit insurance policies that insurance companies sell isn't that. Yet many make a very good living doing so. The stocks and commodities that are traded in markets aren't that either. But there, many make a very good living doing so. Another thing I heard is that in China, they have hordes of unemployed engineers. But becomming an engineer is a very difficult thing to do. Yet many are unemployed. And that doesn't pay very well.

Also, a friend of mine has a son who was friends with the son of a slum lord. His son told my friends son that all his father had to do was collect money. Many others also make a good living doing so. But like the others, they are just parasites.
So take what you produce to the grocery store. It won't work either.

So instead of bitching, come up with an alternative.
 
Jun 2018
236
12
U.S.
#5
So take what you produce to the grocery store. It won't work either.

So instead of bitching, come up with an alternative.
I don't need to come up with an alternative. Somebody already did. And alternative that was a successful miracle. That is one of the reasons why the U.S. felt he had to be defeated. I will show you a picture of him.
 
Apr 2013
38,305
26,296
La La Land North
#6
I don't need to come up with an alternative. Somebody already did. And alternative that was a successful miracle. That is one of the reasons why the U.S. felt he had to be defeated. I will show you a picture of him.
That's another blatant lie. The Nazis used a currency that nominally was linked to gold but in fact they allowed financial institutions to issue fiat currency.

Through the period they were in power the currency was nominally tied to the gold price but in fact they did not have gold reserves to cover it either. Just like the later days when the US pretended to have a backed currency.
 
Likes: 1 person
Jun 2018
236
12
U.S.
#7
That's another blatant lie. The Nazis used a currency that nominally was linked to gold but in fact they allowed financial institutions to issue fiat currency.

Through the period they were in power the currency was nominally tied to the gold price but in fact they did not have gold reserves to cover it either. Just like the later days when the US pretended to have a backed currency.
No. Not a lie. First, the reichsmark had to be pretty nominally linked to gold. Though doing a quick search I can no longer find it, I do remember reading somewhere that after WW I, Germany had something around 62 billion in gold stolen from it by the allies as partial reparations for WW I. Though doing a wiki search it said that Germany was required to pay 133 billion in gold marks for reparations. Which they said was about 33 billion in U.S. value at the time. So Germany didn't have much gold to back anything up.

Next, basically, Hitler came up with another form of fiat currency for industry that was separate from the reichsmark called MEFO bills. Before Hitler came to power, unemployment was rampant in Germany. Hitler was able to put most people to work. One of the things that employment did was create the autobahn. Which Eisenhower envied and copied here.
 
Apr 2013
38,305
26,296
La La Land North
#8
No. Not a lie. First, the reichsmark had to be pretty nominally linked to gold. Though doing a quick search I can no longer find it, I do remember reading somewhere that after WW I, Germany had something around 62 billion in gold stolen from it by the allies as partial reparations for WW I. Though doing a wiki search it said that Germany was required to pay 133 billion in gold marks for reparations. Which they said was about 33 billion in U.S. value at the time. So Germany didn't have much gold to back anything up.

Next, basically, Hitler came up with another form of fiat currency for industry that was separate from the reichsmark called MEFO bills. Before Hitler came to power, unemployment was rampant in Germany. Hitler was able to put most people to work. One of the things that employment did was create the autobahn. Which Eisenhower envied and copied here.
Which is what I said, a fiat currency. The MEFO were exchanged for paper reichsmarks.
 
Mar 2013
10,012
10,802
Middle Tennessee
#9
No. Not a lie. First, the reichsmark had to be pretty nominally linked to gold. Though doing a quick search I can no longer find it, I do remember reading somewhere that after WW I, Germany had something around 62 billion in gold stolen from it by the allies as partial reparations for WW I. Though doing a wiki search it said that Germany was required to pay 133 billion in gold marks for reparations. Which they said was about 33 billion in U.S. value at the time. So Germany didn't have much gold to back anything up.

Next, basically, Hitler came up with another form of fiat currency for industry that was separate from the reichsmark called MEFO bills. Before Hitler came to power, unemployment was rampant in Germany. Hitler was able to put most people to work. One of the things that employment did was create the autobahn. Which Eisenhower envied and copied here.
Uhhhh excuse me, but in post #3 you said EVEN GOLD was a fiat currency. So HOW exactly was the reichsmark any better than any other gold backed currency ??
 
Apr 2013
38,305
26,296
La La Land North
#10
Uhhhh excuse me, but in post #3 you said EVEN GOLD was a fiat currency. So HOW exactly was the reichsmark any better than any other gold backed currency ??
During Hitler's time, it wasn't gold backed. Its value was supposed to be tied to the value of gold but it wasn't backed by gold.
 

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