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Kuros
Joined: 27 Apr 2004
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 Posted: Sun Jun 24, 2012 9:14 pm Post subject: |
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| Titus wrote: |
| The system demands the nation with the reserve currency run massive current account deficits which creates a global slosh of money that emotionally jumps from fad to fad (nation to nation) destroying nearly everything its path. The obvious answer - short of a total overhaul - is capital controls. Fortunately the global slosh of money owns the financial media, politicians and everything in between so there is no risk of that. |
The IMF supports capital controls now, in many cases.
The problem goes beyond capital controls, though. |
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Titus
Joined: 19 May 2012
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| Posted: Sun Jun 24, 2012 9:26 pm Post subject: |
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| Capital controls in the origination country and not the destination country. Capital controls in the United States. The quantity of credit and money flowing out of the United States has to be slowed. |
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goreality
Joined: 09 Jul 2009
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| Posted: Sun Jun 24, 2012 10:12 pm Post subject: |
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| To wit, Greece is running out of medicine because they lack pieces of paper with writing on them. Korea had to engage in austerity because it lacked pieces of paper with writing on them. Goods are left without demand because of a lack of little pieces of paper with writing on them. Explain that to a Martian. |
Just tell them they are tokens or credits exchanged for goods and services or lend for interest (rent). Their value is set by those buying and selling loosely based on supply and demand (makes sense).
If they martin doesn't have a similar system they will immediate understand why such a thing is valuable and a good idea. |
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Titus
Joined: 19 May 2012
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| Posted: Sun Jun 24, 2012 10:27 pm Post subject: |
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| goreality wrote: |
Just tell them they are tokens or credits exchanged for goods and services or lend for interest (rent). Their value is set by those buying and selling loosely based on supply and demand (makes sense).
If they martin doesn't have a similar system they will immediate understand why such a thing is valuable and a good idea. |
Very good. Two questions:
1) from where do the tokens originate
2) who determines their value |
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goreality
Joined: 09 Jul 2009
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| Posted: Mon Jun 25, 2012 9:57 pm Post subject: |
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!) They are made to be difficult to copy and institutions accountable to the people make them (in theory). Having many different global currencies protects individual governments and groups from over valuing their currency relative to others. Despite all these conspiracy theories about the federal reserve, USD remains the most popular (trusted) currency in the world simply because there is too much to manipulate.
2) I answered this question -the market. It's necessary, we all wish things we were buying were cheaper and things we were selling were worth more. In fact I will sell you 1 American dollar for 5,000 won. Or I will sell my pencil for 10,000 won or best offer. |
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visitorq
Joined: 11 Jan 2008
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| Posted: Mon Jun 25, 2012 10:07 pm Post subject: |
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| goreality wrote: |
| !) They are made to be difficult to copy and institutions accountable to the people make them (in theory). Having many different global currencies protects individual governments and groups from over valuing their currency relative to others. Despite all these conspiracy theories about the federal reserve, USD remains the most popular (trusted) currency in the world simply because there is too much to manipulate. |
The "value" of the USD has nothing to do with being "difficult to copy" and rather relies completely on enforcement by the state (ie. the threat of violent coercion or arrest if people don't abide by legal tender laws).
| Quote: |
| 2) I answered this question -the market. It's necessary, we all wish things we were buying were cheaper and things we were selling were worth more. In fact I will sell you 1 American dollar for 5,000 won. Or I will sell my pencil for 10,000 won or best offer. |
The market has nothing to do with inflation. Inflation is simply the expansion of the money supply caused by central banks. Without central banking and government subsidies, there would be little or no inflation. |
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Titus
Joined: 19 May 2012
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| Posted: Mon Jul 02, 2012 3:37 pm Post subject: |
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1) from where do the tokens originate
2) who determines their value
| goreality wrote: |
!) They are made to be difficult to copy and institutions accountable to the people make them (in theory). Having many different global currencies protects individual governments and groups from over valuing their currency relative to others. Despite all these conspiracy theories about the federal reserve, USD remains the most popular (trusted) currency in the world simply because there is too much to manipulate.
2) I answered this question -the market. It's necessary, we all wish things we were buying were cheaper and things we were selling were worth more. In fact I will sell you 1 American dollar for 5,000 won. Or I will sell my pencil for 10,000 won or best offer. |
1) Did not answer the question and as a result
2) Is not sufficient. |
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