Precious Metals Forum

Go Back   Precious Metals Forum > Bunker Talk > STS

Like Tree1Likes
  • 1 Post By PMBug

LinkBack Thread Tools
Old 10-10-2013, 09:56 AM   #1
Yellow Jacket
Join Date: Jun 2012
Posts: 1,511
Liked: 671 times
Created Currencies … are NOT GOLD!

easy read:

If I am playing Monopoly and I change the rules to allow me, and only me, to add $85,000 to my stack of money, it seems likely I will “win” and own more property. Eventually, no one will want to play with me because I created $85,000 of fraudulent Monopoly money.

If I am a central banker and I create $85,000,000,000 every month to buy bonds, I will own lots of bonds in a few years. People will eventually realize my $85,000,000,000 per month gives me and my friends an unfair advantage and most others will refuse to play with me except when necessary, and they will certainly seek other “games” that are more fair and less slanted toward the player who can create boatloads of currency from nothing.
Jay is offline   Reply With Quote
Old 10-10-2013, 10:14 AM   #2
Golden Cockroach
PMBug's Avatar
Join Date: Oct 2011
Location: In Scrooge McDuck's vault
Posts: 7,178
Liked: 2465 times
I think we can already see that happening as foreign holdings of Treasuries have been declining since March and the Fed is buying 90%+ of all new issuances. The market couldn't be any more distorted or farcical.
Aubuy likes this.
The journey of a thousand miles begins with a single step. - Lao Tzu

Important stuff: PMBug 101 * Forum Guidelines * Support PMBug
PMBug is offline   Reply With Quote
Old 10-10-2013, 10:28 AM   #3
Yellow Jacket
ancona's Avatar
Join Date: Nov 2011
Location: Waaay south
Posts: 3,370
Liked: 2046 times
With the current congressional gridlock, and the 17th of October rapidly approaching, expect to see far more drama and far more nations bailing on T-bills.
All things being equal, the simplest answer is quite often the correct answer - Occam
ancona is offline   Reply With Quote
Old 10-10-2013, 11:04 AM   #4
Ground Beetle
Join Date: Apr 2013
Posts: 501
Liked: 304 times
Originally Posted by ancona View Post:
With the current congressional gridlock, and the 17th of October rapidly approaching, expect to see far more drama and far more nations bailing on T-bills.
We are obviously going to keep raising the debt ceiling and borrowing money we can't pay back, so this short term melodrama will end soon, and nothing much is going to change. It's like watching a circus act where the guy spinning the plates keeps adding more and more, and surely he's going to drop one, and the whole thing will come crashing down, but no, he adds another one and keeps spinning and spinning....
Aubuy is offline   Reply With Quote

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

Similar Threads
Thread Thread Starter Forum Replies Last Post
Ron Paul and HR 1098: Free Competition in Currencies PMBug STS 40 01-05-2017 08:28 AM
Peter Schiff - Ben Bernanke Has Created a Phony Economy That Will Crash! jprich16 Fiat Ponzi 9 05-10-2013 03:28 PM
15 Fundamental Problems with Fiat Currencies white&yellow999 Fiat Ponzi 0 04-09-2012 09:21 PM
[VIDEO]Competing currencies in Indonesia (Rupiah vs. gold and silver) swissaustrian PM Bug 2 02-05-2012 08:55 AM

All times are GMT -5. The time now is 05:20 AM.

Powered by vBulletin® from Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.6.0 PL2 ©2011, Crawlability, Inc.
Content of copyright © 2011 - 2020 Measuring Up. All Rights Reserved.