Author Topic: Fiat currency - " end of the road " on Netflix - what are your thoughts  (Read 2079 times)

SofiaBourbon

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1. What did you think of it? And the last part "he said buy money"
2. Are you preparing for something like this?

ColtCeverz

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Re: Fiat currency - " end of the road " on Netflix - what are your thoughts
« Reply #1 on: December 23, 2013, 12:49:02 PM »
I havent watched it yet. Maybe Ill try tonight.

Honest Abe

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Re: Fiat currency - " end of the road " on Netflix - what are your thoughts
« Reply #2 on: December 23, 2013, 01:39:58 PM »
I saw that, it's essentially a paid infomercial by gold sellers. Not saying that they don't have a few good points, rather that the ultimate purpose of that video is to spur gold sales.

tpozywio

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Re: Fiat currency - " end of the road " on Netflix - what are your thoughts
« Reply #3 on: December 24, 2013, 04:56:21 AM »
If you look at the past of the United States, before we left the gold standard, you'll see many instances of banking collapses (often called panics), taking on massive debt (such as to fund ww2).  I feel like that undercuts the typical arguments against fiat currency.   Governments can do a poor job managing currency whether or not its backed by gold.
Plus in a world with no government money, what would i do with a gold coin.   I imagine bartering would take over

Khan

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Re: Fiat currency - " end of the road " on Netflix - what are your thoughts
« Reply #4 on: December 24, 2013, 05:12:36 AM »
Currency is probably one of the greatest developments in human history. Fiat currency is an extension of that. If you believe that gold is a store of value, it becomes as fiat as -fiat- is. And in the end, a piece of gold isn't worth anything, except what somebody thinks it's worth. I personally think it's worth whatever value it has as an extremely low resistance metallic element. I think natural diamonds are more worthless than that.

To a person dying of thirst in the apocalyptic armageddon that's coming to us because we dared to base a monetary system not on the finite amount of gold that is here on earth(that we've found), an ounce of gold won't be worth shit.

To the goldbug libertarian who thinks that Bitcoin is the answer... Electricity and federal investigators would like to have a word with you about your recent electrical use and the logs of your internet activity.

The only thing that could be better then our current monetary system, is one based on time. Unfortunately, I have no idea how that works, and why it undervalues certain peoples and locations quite a bit.
« Last Edit: December 24, 2013, 05:14:58 AM by Khanjar »