Tech sites sidestepping USD for Euro

[alkemyst]

Originally posted by: cliftonite

Originally posted by: alkemyst
Most people don't realize the Great Depression was directly caused by a half dozen or so of the nation's wealthiest driving up their stocks and then pulling out of the market totally en masse.
We are set up to have that happen again even worse now as our money is backed by NOTHING.

People critize rappers/celebrities pouring all their money into cars, property and jewelry. However, those are tangible goods and have an inherent value.

Paper is just paper.

I havent heard of this can you provide some documentation?

Just read about the crash of 1907, it's all there in textbook format.

What did you think caused the crash?

 

[Modelworks]

I vote we become a free society.
No money, everyone has what they need, no war, only peace.

Thats about as likely as the dollar going away and the euro taking over.

 

[LegendKiller]

Wow, alkemyst = loony. I would go more into it, but I don't have time and it should be obvious to everybody that he's a nut.


Re: 1907, that was foreign creditors sucking gold out of the system to repay their debts. This is what lead to the Fed, not 1929.

 

[TehMac]

Originally posted by: NanoStuff
One step forward towards a global currency. Whatever way we can make life easier in these hectic times.

Uhh...do you even know what you're talking about?

Originally posted by: Deadtrees
If U.S dollar is no longer a international currency, U.S economy will fall without wings.

I say, when it comes to people spewing bull shit, economics will sure root out out all the morons from people who know what they're talking about.

Ok, so here?s how the Great Depression started:

In 1929 there was a market crash. What was so remarkable about this crash was that people panicked?this wasn?t a normal occurrence, especially considering it?s the roaring 20?s. So from the start, a psychological panic that led to a financial panic.

Now before I go further, it?s important to know that credit is not represented by 100% real money. It is in fact shaped like a pyramid. There is a significant amount of real money, but then there is an even greater multiple of this money that is held in stocks; a pyramid, the greenbacks are at the bottom, but stock is notional...it?s not real.

Now, we have to look at Federal banks vs. Commercial banks.

Commercial banks:
-Commercial banks operate like one would expect, in good times they lend out lots of money because the chances of getting paid back are very good. Banks want to make a profit, and they don?t want to risk the borrower going bankrupt and defaulting on his loans, and there isn?t much profit in that. So the object is that during good times, the commercial banks lend out lots of money so they can make money

-In bad times, the commercial banks are very stingy and cautious with their money because there?s less chance the borrower will pay the lender back. Again, not much chance of profit, and there?s the risk of defaulting, especially with bad times and high risk of unemployment.
-During bad times, commercial banks are prone to calling in their loans

The Federal Reserve/Fed banks/Central Bank
-The Fed bank is designed to be the opposite of the Commercial bank. In good times, Fed bankers don?t lend out much money to Commercial banks. There?s no reason to.

-During bad times, the Fed Reserve is meant to loan out money, real or notional, to the commercial banks to get them out of their mess

Here?s the mess; a lot of it psychological. That?s why even today, the stock market can spiral up and down, because of panics. People rush a bank and they demand to have their money immediately removed?all of it. This means the bank has to provide REAL money for every single person?something which a commercial bank cannot do for every mofo out there, because a lot of it is simply stock?notional money.

So, during the Crash of 1929, people freaked out?badly, made the usual panic rushes to banks to collect their money, and this meant banks had to close down because they can't provide everybody with all of their REAL tangible money. As a result, the stock of money went down. This is what led to deflation; the stock of money goes down, and factories and such lay off their workers because of plummeting prices.

Now, the totally absurd thing was that the Federal Reserve was shown statistics by their own team, but they didn?t pay attention, and the stock of money kept contracting, and unemployment skyrocketed, which led to less circulation of money, which leads to an even worse slag. The Feds behaved like a commercial bank; did not lend out money because the times were bad.

The Great depression was not a failure of the free market, but a failure of government to do its job properly, and that?s why government is not the best way to regulate a market, because as demonstrated in 1929, it often has its head stuck up its ass.

As for Gold backing, the whole idea is completely misunderstood and its been presented in this thread as a source of paranoia and bull shit.

Gold backing simply means that the rate of mining gold was a 1:1 ratio with the printing of money, and this was designed to control inflation. And facilitate international payments. It?s not that big of a deal.

 

[AndrewR]

Originally posted by: LegendKiller
Probably european sites like toms where it makes sense to denominate in euros. Any other sites?

European sites which lost credibility years ago.

 

[Midnight Rambler]

Quit bringing common sense to a thread devoted to yet more overwrought whining about the mild economic downturn the US is currently experiencing. Just remember for a lot of these folks the Ford-Carter days of stagflation, 18% mortgages, and 10% unemployment are just notes in history books that happened before they were born.

Mild ? And did you experience those days of stagflation first-hand ? My first car loan, for example, was at 21% ...

 

[SoundTheSurrender]

Just wait til the Amero gets put into place. We don't need the stinkin' USD.

 

[StinkyPinky]

Originally posted by: Midnight Rambler

Quit bringing common sense to a thread devoted to yet more overwrought whining about the mild economic downturn the US is currently experiencing. Just remember for a lot of these folks the Ford-Carter days of stagflation, 18% mortgages, and 10% unemployment are just notes in history books that happened before they were born.

Mild ? And did you experience those days of stagflation first-hand ? My first car loan, for example, was at 21% ...

Imagine 18% mortages with todays house prices! Shiiit! Half the country would be bankrupt overnight.

 

[JulesMaximus]

Originally posted by: Eeezee
Yes, it is bad for you as an American that foreign currencies are more desirable. It's a symptom of a poor economy, not the cause.

Yep, our economy is in the toilet. You can thank your commander in chimp and his policies for that.

 

[AndrewR]

Originally posted by: JulesMaximus

Originally posted by: Eeezee
Yes, it is bad for you as an American that foreign currencies are more desirable. It's a symptom of a poor economy, not the cause.

Yep, our economy is in the toilet. You can thank your commander in chimp and his policies for that.

Yes, because the President forced people into exotic mortgages with no downpayments and inflated housing prices around the country. STFU already.

 

[brandonbull]

Originally posted by: StinkyPinky

Originally posted by: Midnight Rambler

Quit bringing common sense to a thread devoted to yet more overwrought whining about the mild economic downturn the US is currently experiencing. Just remember for a lot of these folks the Ford-Carter days of stagflation, 18% mortgages, and 10% unemployment are just notes in history books that happened before they were born.

Mild ? And did you experience those days of stagflation first-hand ? My first car loan, for example, was at 21% ...

Imagine 18% mortages with todays house prices! Shiiit! Half the country would be bankrupt overnight.

That's why homes prices are throught the roof. Money is inexpensive to borrow.

 

[0roo0roo]

hm i thought the first time you log onto toms site you choose region prices are in $ for me. you musta clicked wrong one time or something.
toms is a lousy site anyways, spreading articles over a bajillion pages to spam ads and make reading a chore. i just skip it most of the time.

 

[Linflas]

Originally posted by: Midnight Rambler

Quit bringing common sense to a thread devoted to yet more overwrought whining about the mild economic downturn the US is currently experiencing. Just remember for a lot of these folks the Ford-Carter days of stagflation, 18% mortgages, and 10% unemployment are just notes in history books that happened before they were born.

Mild ? And did you experience those days of stagflation first-hand ? My first car loan, for example, was at 21% ...

Yes, I actually did experience those days of stagflation first hand. Not only did I deal with the gas shortage and lines in 1974, my senior year in high school, but I got to deal with them again in 1979. I didn't even contemplate buying a new car until 1982. Our first mortgage was a 10.5% VA loan which we thought was an incredible bargain in 1989.

 

[AndrewR]

Originally posted by: 0roo0roo
hm i thought the first time you log onto toms site you choose region prices are in $ for me. you musta clicked wrong one time or something.
toms is a lousy site anyways, spreading articles over a bajillion pages to spam ads and make reading a chore. i just skip it most of the time.

The only thing I use is the video card comparison charts, which are a good way to judge the relative speeds of cards without clicking through a billion pages of reviews. I'm trying to upgrade an old but decent card, and the new ones aren't necessarily faster, which is insane.