Fiat Money Systems

GarySpicuzza · #1 (**permalink**) 10-18-2008, 08:31 AM

Read THIS LINK by Richard J. Greene dated March 21 2004.

Very long but right on the money.

Pun intended.

Quote:

The main reason that the masses ignore the inevitable failure of fiat money systems, such as that which is employed by the US and virtually the rest of the world today, is because just prior to their demise, they have more recently been remembered for generating a widespread period of prosperity that has enriched its supporters, if not the masses as well.

Quote:

The fundamental flaw in a fiat money system can be summed up as human nature. When the going gets rough, the rough start printing. Governments cannot be trusted, to not print too much money when it is not linked to a scarce commodity such as gold.

Quote:

Joe Six-pack, has little chance of understanding the dangerous situation he is in. Protection of this fiat money system has reached a dangerous crossroads. Global derivatives have climbed from $130 Trillion to $170 Trillion in the past year alone, which is a one-year increase of four times the entire GDP of the US economy. Politicians and bankers may stop at nothing to keep the charade going a little bit longer.

The quotes from the above linked article were written in March 2004.
Where's Barney Frank when we need him?
Vote the bass towards out of office.

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