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  • $USD = foobar

    [ame="http://www.youtube.com/watch?v=Xb0jJYYXjpQ"]YouTube - US Stock Markets Decline : THE DOLLAR HOLOCAUST[/ame]

    [ame="http://www.youtube.com/watch?v=cziN3gt-hic"]YouTube - The Truth About The Economy: Total Collapse[/ame]

    Yes, its a bit of an election campaign... but... what the guy says....

    Comments?

    I think a lot/virtually all of what he says is pretty true. Any idea what the US will do to extract themselves from this situation?
    “Crashing is shit for you, shit for the bike, shit for the mechanics and shit for the set-up,” Checa told me a while back. “It’s a signal that you are heading in the wrong direction. You want to win but crashing is the opposite. It’s like being in France when you want to go to England and when you crash you go to Spain. That way you’ll never get to England!” -- Carlos Checa

  • #2
    Very interesting.

    For someone who doesn't know a great deal about economics, how are they "creating money out of thin air?"

    Is it just the government printing more, so they have more to spend?

    I can't see any other way to do it, but that just seems ridiculous...

    Comment


    • #3
      Nah, it's solid fiscal policy mate - just ask One Nation.

      US? Whose economy are they going to steal next, do you think?
      "Once upon a time we would obey in public, but in private we would be cynical; today, we announce cynicism, but in private we obey."

      Comment


      • #4
        Originally posted by Bendito View Post
        Very interesting.

        For someone who doesn't know a great deal about economics, how are they "creating money out of thin air?"
        OK brief concept of money:

        Back in teh day, the US dollar was "gold backed".

        Which meant, that if you had $35us, it was worth one ounce of gold (i think, the numbers might be off, but bear with me). If another country was paid for goods in $us, they knew that no matter what, they could exchange these dollars for gold (which has real material value) at a rate of $35us per ounce.


        In teh 70s, they got rid of this concept, and make the dollar "legal tender" and not "backed" by anything. Well, not quite - due to an agreement with OPEC in teh 70s, oil may only be purchased from OPEC nations using $US. So its "Sort of" backed by OIL. A resource which a. no one knows how much we have, and b. is running out.

        What does this mean?

        When the dollar was "Gold backed", the reserve could only print more money if it had the gold reserves to cover it.

        Now this is not the case.

        The reserve can (and has been) printing money that isn't "backed" by anything, other than the fact that people *believe* that the dollar is worth something.

        Essentially, a dollar is an "I O U" to anyone who has the dollar from the US federal reserve. Previously it meant that if you had $35us, the government owed you the equivalent value of 1 ounce of gold.

        So, now we have a dollar thats not backed by anything - what happens if, for example, china goes to cash in all of their US dollars for gold, or other material resources? What happens when/if the oil runs out?


        This is why Iraq, Iran, and other countries have been wanting to sell oil in Euros, or other currencies than the US dollar. Because its literally not worth the paper its printed on, when the economy collapses and people go to cash in their loans to the US.

        edit:
        This was when the dollar was no longer gold backed:
        [ame="http://www.youtube.com/watch?v=qTLX1ow-aCw"]YouTube - Nixon Ends Bretton Woods International Monetary System[/ame]

        He essentially gave the federal reserve the license to print money with no ties to any asset. Ie, the reserve can print as much as they like, they don't need to cough up any real asset for it.


        As i understand it, the "unfair treatment" of the $US he is talking about is because the US weren't producing enough in terms of real tangible assets to cover their spending... as they have continued to do so...

        More on gold vs dollars:

        [ame="http://www.youtube.com/watch?v=_GcP_Lw4BCc"]YouTube - (2006) Ron Paul: GOLD AND THE US DOLLAR [Part 1][/ame]


        edit:
        The concept of "hard currency" as in coins (implicitly, or electronic/paper money that is "backed"), is money that has a value of the actual material it is made of (ie, gold, copper, silver, etc), if you were to melt it down (or otherwise cash it in for an asset). This is one reason it is illegal to destroy legal tender - if your currency was devalued, a gold/silver dollar coin could be worth more than its face value if you were to destroy it... (not likely these days, as we dont use real precious metals for coins, but in the past...)

        A "soft" currency like paper (that isn't backed with an asset) is worth an arbitrary amount.

        Hard currency - Wikipedia, the free encyclopedia
        Last edited by thro; 24-06-2008, 07:35 PM.
        “Crashing is shit for you, shit for the bike, shit for the mechanics and shit for the set-up,” Checa told me a while back. “It’s a signal that you are heading in the wrong direction. You want to win but crashing is the opposite. It’s like being in France when you want to go to England and when you crash you go to Spain. That way you’ll never get to England!” -- Carlos Checa

        Comment


        • #5
          Gold has the same "material value" as money, except in rare situations like delicate electronics it's essentially useless. Iron has much more material value, it's the most commonly used metal in the world.

          Also I beleive the whole 'gold backed' thing was loans, you couldn't loan money unless it was gold backed (back in the day), then they made it you could loan 9 times the amount your gold is worth, and then none I guess? Don't quote me here, business isn't my field.
          sigpic

          Comment


          • #6
            *sigh*

            I had a post but it got lost... basically it comes down to this:

            EUROPE: hey opec, we need some oil
            OPEC: yo, we only take $US - go sell some of your shit to the US
            EUROPE: but they're broke? we already gave them heaps of credit! All they give us is $US and shitty cars!
            OPEC: not our problem, we're cool with them, they give us mil hardware cheap!
            EUROPE: oh ok *goes and "buys" some $US with their goods/services*

            IRAQ: hey europe! oil for sale in Euros!
            EUROPE: o cool. no need to get those $US any more.

            *us dollar goes down*

            US: o fuk. "Bad saddam! Bad dictator!" *starts gulf war*
            IRAQ: (under new management) - sorry dudes, we only accept $US

            IRAN: yo guys, we'll sell you oil for euros!
            US: oh shit. um... tell them they're terrorists or something, quick...
            US: "if you deal with iran, you're paying terrorists!!"
            US: hmm hurry up and get those boats over to iran!


            I think you can see where this is going... IRAN is next, as soon as they finish with IRAQ...


            edit:
            Jedi - you're right, as a raw material, gold is of limited use (well not exactly, it has many uses - but in terms of day to day life, you could get by without it to a large extent). However, its shiny and women like it. Its also "hard" to get hold of (in terms of manpower expended), as such in terms of wealth per cubic metre, its a very dense way of storing "value". This is why it has tradiationally been used as a hard currency.
            Last edited by thro; 25-06-2008, 02:02 AM.
            “Crashing is shit for you, shit for the bike, shit for the mechanics and shit for the set-up,” Checa told me a while back. “It’s a signal that you are heading in the wrong direction. You want to win but crashing is the opposite. It’s like being in France when you want to go to England and when you crash you go to Spain. That way you’ll never get to England!” -- Carlos Checa

            Comment


            • #7
              Thro, if I could rep you back to zero, after that post and if it was in my power, mate, I would. That's brill.
              2006 Yamaha R1SP;
              In an interview with the New Scientist magazine marking his birthday, Stephen Hawking was asked what he thought about most during the day, and replied: "Women. They are a complete mystery."
              Amen, brother. Amen.
              My nemesis; Barfridge

              Comment


              • #8
                See, bitches, gold and money.
                The root of all evil.

                Originally posted by Hornet View Post
                Thro, if I could rep you back to zero, after that post and if it was in my power, mate, I would. That's brill.
                I agree, awesome posts, but I can't rep him up anymore.

                Comment


                • #9
                  lol, cheers guys haha


                  edit:
                  AS implied in the above post... if the US is printing money for "nothing" and buying other country's services or goods with money they keep printing thats not backed with anything - its slavery. Of the rest of the world.

                  Sooner or later, people are going to want to cash in all the $US in circulation for actual tangible goods/services. What is the US going to provide, for all those $US "I O U" notes?


                  If people think i'm being funny with that description of world events above... look up how OPEC works, etc...

                  In fact, have a wiki entry OPEC - Wikipedia, the free encyclopedia


                  See, bitches, gold and money.
                  The root of all evil.
                  Truer words were never spoken. Not in the biblical sense women being the root of all evil, but chicks aren't naturally bent towards world domination or competing for a partner in the ways men are. They are attracted to power. All "evil" really is, is an "unfair" grab for power in some way or another... whether its lying, cheating, murdering or whatever... the end-game is typically to acquire power to get chicks.

                  edit: erm, unless you're gay... then... well who knows.
                  Last edited by thro; 24-06-2008, 08:54 PM.
                  “Crashing is shit for you, shit for the bike, shit for the mechanics and shit for the set-up,” Checa told me a while back. “It’s a signal that you are heading in the wrong direction. You want to win but crashing is the opposite. It’s like being in France when you want to go to England and when you crash you go to Spain. That way you’ll never get to England!” -- Carlos Checa

                  Comment


                  • #10
                    Originally posted by thro View Post
                    lol, cheers guys haha


                    edit:
                    AS implied in the above post... if the US is printing money for "nothing" and buying other country's services or goods with money they keep printing thats not backed with anything - its slavery. Of the rest of the world.

                    Sooner or later, people are going to want to cash in all the in circulation for actual tangible goods/services. What is the US going to provide, for all those "I O U" notes?
                    wars? they got them in plentiful supply
                    "I think she's kinda sweet...but she makes her living catching cum in her mouth and i'm sensing that's a problem with you"

                    Comment


                    • #11
                      watch zeitgiest and endgame on google videos if you want to here some really trippy conspiracy theorys about world economy.

                      I should start a post on these docs
                      My mum always used to say, when life hands you lemons "kill mob within spell duration with a soul gem of adequate quality for the mob's level to trap its soul"

                      Comment


                      • #12
                        Ron Paul, great mind! wish it was him instead of Mcain as the republican nominee.
                        Last edited by Xuaxace; 25-06-2008, 01:39 AM.

                        Comment


                        • #13
                          Originally posted by redfern View Post
                          watch zeitgiest and endgame on google videos if you want to here some really trippy conspiracy theorys about world economy.

                          I should start a post on these docs
                          Yup, zeitgeist is a big eye opener, not just on oil vs politics, but on a great many things. Of course the devout religious people may dismiss it early due to the content of part one, but thats unfortunate.

                          Loose change as well... haven't watched it yet, but here's a youtube link:

                          [ame=http://www.youtube.com/watch?v=7E3oIbO0AWE]YouTube - 911 Loose Change (full-length)[/ame]
                          “Crashing is shit for you, shit for the bike, shit for the mechanics and shit for the set-up,” Checa told me a while back. “It’s a signal that you are heading in the wrong direction. You want to win but crashing is the opposite. It’s like being in France when you want to go to England and when you crash you go to Spain. That way you’ll never get to England!” -- Carlos Checa

                          Comment


                          • #14
                            [ame=http://www.youtube.com/watch?v=saHs6J0OXVI]YouTube - Unfastened Coins: Titanic Conspiracy[/ame]
                            sigpic

                            Comment


                            • #15
                              ^ lol

                              so which bits of loose change are unsubstantiated bullshit, in your view?
                              “Crashing is shit for you, shit for the bike, shit for the mechanics and shit for the set-up,” Checa told me a while back. “It’s a signal that you are heading in the wrong direction. You want to win but crashing is the opposite. It’s like being in France when you want to go to England and when you crash you go to Spain. That way you’ll never get to England!” -- Carlos Checa

                              Comment

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