how a fiat currency works

[gabriel]

not really much interested in your waistline. and the worlds can always accomodate dinosaurs

 

[Days]

Salt was over mined, became worthless. A victim of its own value... people need salt to live, silver and gold is more about riches.

 

[gabriel]

that doesnt make its value intrinsic. the only thing that is intrinsically valuable is time.

 

[Days]

not to a prisoner

It isn't a philosophy. It is two systems of money. Either the money has intrinsic value or ascribed value. Real money has intrinsic value. Synthetic money (fiat currency) has ascribed value.

 

[gabriel]

nothing has intrinsic value but time

 

[Days]

You never left... barter is trade. Different systems of money are both used for trade. The controlled market is just the real market traded on a fiat currency... with a controlled value. They still barter with the fiat currency. But the currency itself is a whole different animal that real money.

 

[gabriel]

no such thing as real money

 

[Days]

I see you've kicked into auto pilot again

 

[gabriel]

seldom need anything more to counter your posts

 

[Days]

the sun rises in the east, Gabe.

 

[gabriel]

the sun is never down

 

[Woolleybugger]

Fiat currency solves the problem of fueling desired growth beyond a fixed rate of assets or wealth to the supply of money. Unless you can provide controls on the growth of the money supply, replacing one with the other is not going to solve the problem you correctly identify which is that in our current system, the growth of the money supply is unregulated or at best, poorly regulated. Your advice is to destroy wealth and the remedy is to live a much lower standard of living or redistribute the pool of money more efficiently. I would like to hear more about your remedy before I agree with it.

 

[Mike]

Fiats are really crappy cars....

:nod:

 

[fairsheet]

Fiats are really crappy cars....

:nod:

Mike's fulla baloney. I made my way through the decade of my 20's, on none but Fiat-currency. It was as gooda currency as all them saps with their Dodge-currency and their Chevy, Ford, and Honda-currency.....not to mention the snivelers what were wallowing in their Toyota-currency back then.

And for what it's worth....all this current drizzle-shittation around "fiat currency", as if it's apropos of anything that any adult oughta be embarrassing herself around - in the public sphere - is but a [Unwelcome language removed] godamned joke.

 

[Days]

what remedy? Did I give a remedy? I'm still explaining the problem.

Providing adequate expansion in the money supply is necessary for business to grow. I 100% agree with that need. Business is like a tree, it has to grow continuously. To do that, the real economy has to have an adequate money supply. Banking can provide that. Real money failed to provide the necessary money supply to fuel the industrial revolution, that's why business turned to banking credit.

Today we have a problem with fiat distribution and real growth. Solutions are hard to come by. But it begins by understanding the problem. And to understand the problem you have to first understand the system. This was a start.