Patrick Barron: The End of the US Dollar Imperium, Part 2
Jeff Deist and Patrick Barron continue their discussion on monetary imperialism. They delve deeper into US dollar supremacy, and how it might end with a ...
Gold and to a lesser extent silver and maybe a few other metals will always
be a choice for money. They have been used for several thousand years. So
really they are the one product of the market that has been chosen time and
time again. I do think bitcoin and a few others like it will come it to
play in the future but because of golds history it will always be chosen to
a greater extent by the population.
+tmac9938You're confused as hell. The people who own capital lend out the capital. Inflation transfers wealth away from lenders and towards borrowers. Inflation transfers wealth downwards which is why wealthy people are inflation hawks.
+Mak Mukmy understanding of inflation transferring wealth to the top is that when inflation (possibly hyper) hits, only those with the capital assets will retain the wealth, while all those holding just currency will be wiped out. the only people who own capital, like land, manufacturing, raw materials are the rich. the poor, and therefore the majority, only hold currency.deflation would be the opposite since it's the currency that is gaining value.is any of that correct?
+Michael P. Shipley Can tell that you are getting misinformed by gold bugs when you claim inflation transfers wealth to the elite. The elite are the gold bugs. The elite are the ones who pressured the Fed to defend the gold standard in 1929. The elite are the ones who wrote a letter to Bernanke in 2009 warning of inflation. You don't understand how inflation and deflation transfer wealth. Deflation transfers wealth upwards. You can get a real return on your money by holding it in a vault and keeping it out of circulation. Try to educate yourself and get back to us. You've been duped.
+Mak Muk Its true that gold was not physically used as money by you and me but banks used it as money and transferred it between other banks regularly as payment.US Govt paper money was gold backed. It represented gold. You could physically take it to the US treasury and get the gold equivalent.The Federal Reserve Note was originally gold backed but not any more. Now its just a debt receipt that can be printed to eternity and has. In 1984 you could buy a Cadillac for $16k, not you're lucky if you can buy a POS Ford Fiesta for the same price. Thats what you get with a non gold backed fiat currency, evisceration of buying power, transferred to the corrupt elite through inflation.You COULD use a single gold coin to back all the currency if you wanted to but then you'd have a problem when people wanted to convert their currency to gold. Each dollar would only be worth an atom of gold. Not easily done.Going back to a gold standard is doable and would mean a massive devaluation of the FRN to make it convertible. Gold would go to ~$20k/oz.
Always a choice for money? Go try to buy something with gold. Gold is not used as money today. Even when the nation is on the gold standard, gold is not used as money. The amount of gold in reserve is only a small fraction of the currency in circulation. You're parroting horse shit without knowing much about the history of money. If you think people will someday carry around a bag of gold coins to purchase food, shelter, transportation, clothes, etc, you're a fucking imbecile.
The gold talk is pure outdated nonsense.
The future is digital currency, Bitcoin, to be more specific.
Nobody can control it, and it has much higher intrinsic value since it's
secure, frictionless, and not physical.
+ian turner You don't get it. How many of that 99% have a negative net worth? How many are having their debt wiped out by hyperinflation? The people who are getting hurt by the hyperinflation are the people who lent the money. You can't have 99% lending money to 1%.
+ian turnerhow is it mathematically possible for 99% to lose their savings? Are they all lending money to 1%? You lose your savings when a bank lends out your savings to somebody who can't pay it back. People go to withdraw their savings and once the reserves are exhausted the bank fails. The people who borrow the money have the house or whatever they purchased with the loan.
If the 99% lose their saving in national currencies and cannot even eat, much less afford their broadband. Do you really think bitcoin will be able to maintain the blockchain?
You don't understand, the value of precious metal is that they are hold the printing to account, digital currencies can be made up reducing there value also, digital currency doesn't stop at bitcoin.
Yeah, all the thugs down in the ghetto gunna be slinging rocks for bitcoins!Quit joking about bitcoin nobody knows what it is or how to use it, just like USA never went metric nobody wanted to relearn the whole damn system.
I have been trying to determine how many U.S. dollars are floating around
the world. It is my understanding that the M-1 figures only include money
in the United States. If there are trillions of dollars floating around
the world, what will happen when the dollar loses its "reserve status?" My
guess is that these dollars will flood back into the United States and will
be used to purchase hard assets like real estate and stocks. When that
happens, will it create massive inflation here????
That is what is largely expected... unless the Fed massively shrinks the money supply when that happens... and/or the federal government imposes wage and prices controls. Even then, I don't know if that will stop it.
Donald Trump Gives Us A Glimpse Of What’s To Come For Hillary In Eugene, OR Rally (5-6-16) MUST SEE!
Scheduled for May 6, 2016 Friday, May 6, 2016: Live stream of the Donald Trump for President rally in Eugene, OR at Lane Events Convention Center at the Fair ...
+TOM fun? i bet you was thinking obama was fun too :) thats why america is doomed, you do not get that someone else choose the options you such can choose from candidates others choose for you :) does not fuckin matter who you vote for - america elections are like a big soap opera, a written script to make the retarded masses happy for another 4-8 years :)
90 million dollars for ads.......That is what the fuck is wrong with
everything.
4-7 million dollars would finance me till i died and that is if i died at
100 lol but seriously what the fuck...?
+James Brown So what do you think of the network of corporate control on Washington? Have you heard the term corporate fascism before? What do you think that is? Would you say america is a democracy or a plutocracy? Would you prefer a candidate for the people or one for the establishment?
When a corporation can make it's products in a nation with very low wages
and environmental standards, and sell those products, without penalty, to a
nation with high wages and standards, it abuses the people in both nations.
Rich countries are robbed of employment and opportunity, and poor countries
are polluted and put to slavery by multinational corporations instead of
developing a healthy indigenous economy.
On top of that, resources are squandered producing masses of cheap, low
quality junk instead of more expensive things that last, and pollution
standards that we enact are circumvented. If we are to restore balance to
the world, that has to end.
+Terrace Thornhill Spot on. One would wish that people who can afford it avoid those products and instead support the good companies and home businesses.
Check this super-pac ad.
Run by Jesse Benton, You remember Jesse Benton He worked for Ron Paul. Good
news in my opinion.
https://www.youtube.com/watch?v=pzkw2tDIcLQ
//www.cnn.com/2016/03/31/politics/donald-trump-ted-cruz-super-pac-ad-wisconsin/index.html
Carl Barron | Melbourne International Comedy | Festival All Star Supershow 2011
Watch Carl Barron as he will put you in stitches at the 2011 Melbourne International Comedy Festival All Star Super Show Like, Comment and Subscribe!
Bish's Biz | Carl Barron
He's a former roof tiler who got his start playing the legendary Harold Park Hotel, now he sells out theatres around the world - Ang sits down with legendary ...