The state of the economy.....

[eton97]

Nations should be able to create debt-free money, period.

You fundamentally can't do that without it leading to hyperinflation. Germany 1923 is your case study.

And you are the expert on economic history, but your account of world domination of national debt by a private bank seems a bit questionable.

[quiet noise]

"Some people think the Federal Reserve Banks are the United States government's institutions.
They are not government institutions. They are private credit monopolies which prey upon the people of the United States for the benefit of themselves and their foreign swindlers" — Congressional Record 12595-12603 — Louis T. McFadden, Chairman of the Committee on Banking and Currency (12 years) June 10, 1932

"We are completely dependant on the commercial banks. Someone has to borrow every dollar
we have in circulation, cash or credit. If the banks create ample synthetic money we are prosperous; if not, we starve. We are absolutely without a permanent money system.... It is the most important subject intelligent persons can investigate and reflect upon. It is so important that our present civilization may collapse unless it becomes widely understood and the defects remedied very soon." — Robert H. Hamphill, Atlanta Federal Reserve Bank

[quiet noise]

You fundamentally can't do that without it leading to hyperinflation. Germany 1923 is your case study.

I dont think that is a fair example, considering the state of germany after the war and the versaille commission. Of course, it needs to be done with extreme care and planning.

Also, please dont put words into my mouth. im not talking about some secret world domination conspiracy/"illuminati" bullshit. im just bringing up relevant facts.

[eton97]

But unless money is backed by an asset (ie gold) it is just worthless meaningless paper.....and the move from value to valueless cause by printing it, is hyperinflation

[quiet noise]

Yep, and thats why Capitalism doesnt work in the long run.

[cjbreed]

^oh snap...be gentle d

[eton97]

And I wasn't putting words into your mouth or tryin to be clever. I am genuinely interested. Maybe it came across smart-ass, but not intended

[eton97]

C. Always gentle buddy....

It's something I talk about all day at work with clients so should probably give it break at home....instead stay focussed on the stuff that really fucks my brain up like ccp sizing

[quiet noise]

But unless money is backed by an asset (ie gold) it is just worthless meaningless paper.....and the move from value to valueless cause by printing it, is hyperinflation

To clarify what i meant, what if money was backed by gold(or something else), but the gold and currency is managed by the government, that creates debt free money to stimulate the welfare of the nation? Again, how is the USA supposed to pay back their debt (or prevent it from growing), when the only money they can create is debt already? you cant pay off your debts with borrowed money. Sooner or later, the economy will collapse, and the middle and lower class will be ones who suffer the consequences (while the banking families gain huge profits)

as a wise economist once said, the wealth of the banking class consists of the bankrupcy of nations.

[eton97]

Again, how is the USA supposed to pay back their debt (or prevent it from growing), when the only money they can create is debt already? you cant pay off your debts with borrowed money. Sooner or later, the economy will collapse

i think we are all on the same page....

[quiet noise]

Call me crazy if you want, but personally i think the global economy should be calculated and managed by some kind of super-AI, programmed to maintain stability, welfare and equality among people and nations. I believe people are to 1, too greedy to handle that amount of power without exploiting it for personal gain, and 2, unable to manage all the advanced equations and take action in time.

[sam_tem]

Call me crazy if you want, but personally i think the global economy should be calculated and managed by some kind of super-AI, programmed to maintain stability, welfare and equality among people and nations. I believe people are to 1, too greedy to handle that amount of power without exploiting it for personal gain, and 2, unable to manage all the advanced equations and take action in time.

be careful what you wish for, just so happens today is in fact Judgement Day

[ES3K]

/\ Skynet was destined to go online at 8:11pm on April 19, 2011. Nothing happened. We're safe.

[docus]

^^^ Skynet was destined to go online on April 19th, after which it becomes self aware, and then it starts its attack on April 21st... today...

WE'RE DOOOOOOOOMED!!!

[Lane]

Yep, and thats why Capitalism doesnt work in the long run.

first of you are starting to make tremendous leaps in logic here. Yes, our currency is debt based and is unstable/leads to consequences. One thing I don't get is why you are abhorrent to backing currency with gold if it can solve the issues you brought up.

Also, the federal reserve is an independent agency that the president has no discretion over, but the board has appointees. Obviously, they serve private banking interests over the public, but I think some people are too caught up in that aspect of it and simply call it "private" because of this.