Thousands Protest in Iceland following Soaring Currency Inflation

[LegendKiller]

Originally posted by: SleepWalkerX

Originally posted by: LegendKiller

Who should control it?

Answer: Government with strict controls, constitutionally amended if need be.

Ohhh, so you think the government can do a better job? Aren't they the ones who put on $10TR in debt already?

I don't understand. You don't trust gold, but you don't trust the government either? Why not let the market determine what money should be, whether it be gold, paper, oil, or whatever?

Because the market already decided that gold sucked. If the market didn't think so it wouldn't allow Fiat to exist or it would absolutely crush every Fiat system out there when one single asset backed system came to fruition.

 

[IceBergSLiM]

this iceland situation is very very very eerie to me. They had a flourishing economy only months ago. Then virtually over night....the international bankers cut them off...pulled their card so to speak and sent the country into what seems like an instant depression. Icelands economy was systematically imploded. I think the U.S. is next and the riots will make this look like candyland.

 

[JS80]

Originally posted by: IcebergSlim
this iceland situation is very very very eerie to me. They had a flourishing economy only months ago. Then virtually over night....the international bankers cut them off...pulled their card so to speak and sent the country into what seems like an instant depression. Icelands economy was systematically imploded. I think the U.S. is next and the riots will make this look like candyland.

Who's going to pull the US's "card"? We ARE the card.

 

[SleepWalkerX]

Originally posted by: LegendKiller

Originally posted by: SleepWalkerX

Originally posted by: LegendKiller

Who should control it?

Answer: Government with strict controls, constitutionally amended if need be.

Ohhh, so you think the government can do a better job? Aren't they the ones who put on $10TR in debt already?

I don't understand. You don't trust gold, but you don't trust the government either? Why not let the market determine what money should be, whether it be gold, paper, oil, or whatever?

Because the market already decided that gold sucked. If the market didn't think so it wouldn't allow Fiat to exist or it would absolutely crush every Fiat system out there when one single asset backed system came to fruition.

Then let's end the capital gains tax, legal tender laws, and the other barriers that competitive currencies have to overcome. Right now we are experiencing Gresham's law because even if you theoretically could pay in gold, people would much rather give up a piece of paper. If we really opened up competition, the dollar would sink in price like a stone, or rather, a piece of paper.

Let's stop the nonsense like the Fed raiding the Liberty Dollar, the SEC attacking p2p lending sites, etc and let the market be free to conduct business without all this government coercion.

 

[TastesLikeChicken]

Originally posted by: Kuragami
Only people with small minds and lack of reading comprehension resort to personal insults. I already corrected my statement by adding that it was in the "industrialized world".

Depending on what formula is used the US comes in 4th, 3rd or 1st on the list. So what I said is true from a certain point of view.

If you wish you can look at it as the 4th worst gap between rich and poor in the industrialized world. Be a glass half full kind of guy if you want. I care not.

Does this discrepancy come about because the US poor are poorer or because the US rich are richer?

 

[LegendKiller]

Originally posted by: SleepWalkerX

Originally posted by: LegendKiller

Originally posted by: SleepWalkerX

Originally posted by: LegendKiller

Who should control it?

Answer: Government with strict controls, constitutionally amended if need be.

Ohhh, so you think the government can do a better job? Aren't they the ones who put on $10TR in debt already?

I don't understand. You don't trust gold, but you don't trust the government either? Why not let the market determine what money should be, whether it be gold, paper, oil, or whatever?

Because the market already decided that gold sucked. If the market didn't think so it wouldn't allow Fiat to exist or it would absolutely crush every Fiat system out there when one single asset backed system came to fruition.

Then let's end the capital gains tax, legal tender laws, and the other barriers that competitive currencies have to overcome. Right now we are experiencing Gresham's law because even if you theoretically could pay in gold, people would much rather give up a piece of paper. If we really opened up competition, the dollar would sink in price like a stone, or rather, a piece of paper.

Let's stop the nonsense like the Fed raiding the Liberty Dollar, the SEC attacking p2p lending sites, etc and let the market be free to conduct business without all this government coercion.

Ahh, yes, the competitive currency bullshit, drug out and refuted every time.

Why don't other countries have competing currencies? Could it be, perhaps, that if they did so their economic system would become chaotic and people wouldn't invest in it?

 

[IceBergSLiM]

Originally posted by: JS80

Originally posted by: IcebergSlim
this iceland situation is very very very eerie to me. They had a flourishing economy only months ago. Then virtually over night....the international bankers cut them off...pulled their card so to speak and sent the country into what seems like an instant depression. Icelands economy was systematically imploded. I think the U.S. is next and the riots will make this look like candyland.

Who's going to pull the US's "card"? We ARE the card.

the exact kind of hubris that is needed.

 

[StageLeft]

Originally posted by: IcebergSlim

Originally posted by: JS80

Originally posted by: IcebergSlim
this iceland situation is very very very eerie to me. They had a flourishing economy only months ago. Then virtually over night....the international bankers cut them off...pulled their card so to speak and sent the country into what seems like an instant depression. Icelands economy was systematically imploded. I think the U.S. is next and the riots will make this look like candyland.

Who's going to pull the US's "card"? We ARE the card.

the exact kind of hubris that is needed.

How is it not true? Who gives a sh*t what happens to Iceland's currency. If you don't live in Iceland, chances are you had nothing in it. The USD is, to use an overused term, too big to fail. Well, at least in theory. But if it collapses, many countries and billions of people would be directly affected by it. Thankfully, it's not propped up with quite the kind of silliness it could be and the US does still have, but Western standards, a somewhat manageable debt rate, higher than some countries and lower than others. It's going clearly in the wrong direction, though.

 

[IceBergSLiM]

Originally posted by: Skoorb

Originally posted by: IcebergSlim

Originally posted by: JS80

Originally posted by: IcebergSlim
this iceland situation is very very very eerie to me. They had a flourishing economy only months ago. Then virtually over night....the international bankers cut them off...pulled their card so to speak and sent the country into what seems like an instant depression. Icelands economy was systematically imploded. I think the U.S. is next and the riots will make this look like candyland.

Who's going to pull the US's "card"? We ARE the card.

the exact kind of hubris that is needed.

How is it not true? Who gives a sh*t what happens to Iceland's currency. If you don't live in Iceland, chances are you had nothing in it. The USD is, to use an overused term, too big to fail. Well, at least in theory. But if it collapses, many countries and billions of people would be directly affected by it. Thankfully, it's not propped up with quite the kind of silliness it could be and the US does still have, but Western standards, a somewhat manageable debt rate, higher than some countries and lower than others. It's going clearly in the wrong direction, though.

They said the titanic couldn't sink either. Listen man history tells us one thing....Great Empires always fall.

 

[StageLeft]

Originally posted by: IcebergSlim

Originally posted by: Skoorb

Originally posted by: IcebergSlim

Originally posted by: JS80

Originally posted by: IcebergSlim
this iceland situation is very very very eerie to me. They had a flourishing economy only months ago. Then virtually over night....the international bankers cut them off...pulled their card so to speak and sent the country into what seems like an instant depression. Icelands economy was systematically imploded. I think the U.S. is next and the riots will make this look like candyland.

Who's going to pull the US's "card"? We ARE the card.

the exact kind of hubris that is needed.

How is it not true? Who gives a sh*t what happens to Iceland's currency. If you don't live in Iceland, chances are you had nothing in it. The USD is, to use an overused term, too big to fail. Well, at least in theory. But if it collapses, many countries and billions of people would be directly affected by it. Thankfully, it's not propped up with quite the kind of silliness it could be and the US does still have, but Western standards, a somewhat manageable debt rate, higher than some countries and lower than others. It's going clearly in the wrong direction, though.

They said the titanic couldn't sink either. Listen man history tells us one thing....Great Empires always fall.

Absolutely. And the US, as any other country currently in existence, will fall at some point. Hopefully not this time. I am placing my money (USD, hee hee) on the fact that this will not be the end.

 

[IceBergSLiM]

Originally posted by: Skoorb

Originally posted by: IcebergSlim

Originally posted by: Skoorb

Originally posted by: IcebergSlim

Originally posted by: JS80

Originally posted by: IcebergSlim
this iceland situation is very very very eerie to me. They had a flourishing economy only months ago. Then virtually over night....the international bankers cut them off...pulled their card so to speak and sent the country into what seems like an instant depression. Icelands economy was systematically imploded. I think the U.S. is next and the riots will make this look like candyland.

Who's going to pull the US's "card"? We ARE the card.

the exact kind of hubris that is needed.

How is it not true? Who gives a sh*t what happens to Iceland's currency. If you don't live in Iceland, chances are you had nothing in it. The USD is, to use an overused term, too big to fail. Well, at least in theory. But if it collapses, many countries and billions of people would be directly affected by it. Thankfully, it's not propped up with quite the kind of silliness it could be and the US does still have, but Western standards, a somewhat manageable debt rate, higher than some countries and lower than others. It's going clearly in the wrong direction, though.

They said the titanic couldn't sink either. Listen man history tells us one thing....Great Empires always fall.

Absolutely. And the US, as any other country currently in existence, will fall at some point. Hopefully not this time. I am placing my money (USD, hee hee) on the fact that this will not be the end.

Lets put a 50 Amero's on it.

 

[SleepWalkerX]

Originally posted by: LegendKiller
Ahh, yes, the competitive currency bullshit, drug out and refuted every time.

Why don't other countries have competing currencies? Could it be, perhaps, that if they did so their economic system would become chaotic and people wouldn't invest in it?

There's nothing chaotic about free choice. All countries print money, they have no intention of allowing others to print their own money and compete.

Why do you think Nixon axed the gold standard in 1971? What do you think the intention was? Why did we change course? The worst that could have happened is that foreign countries would exchange their dollars for gold. If gold is so worthless then why did we axe the fixed converbility? Why not just let foreign countries take the gold in exchange for their dollar reserves?

You worry about chaos, yet you hold on to government regulations and laws that discourage the use of other currencies. Do you not understand what this is doing?

IF gold, for example, is just as acceptable of a currency as the dollar is (I mean individuals and businesses are willing to accept gold, but don't normally receive it because individuals are more inclined to give up paper when it is worth the same) and if we haven't had a negative inflation rate since 1955 (I'm even using CPI data, mind you) then our dollar has been exponentially inflating.

We're bound to reach a point where our level of inflation will be noticeable. This is why all these government laws and regulations will cause select commodities and stocks to suddenly skyrocket when a "correction" is made. If you want to have the last word, go ahead. I'm not looking for an argument with you. I know what will happen so I'm stocking up on gold right now, I'll be glad to buy your's if you don't want it.

 

[LegendKiller]

Originally posted by: SleepWalkerX

Originally posted by: LegendKiller
Ahh, yes, the competitive currency bullshit, drug out and refuted every time.

Why don't other countries have competing currencies? Could it be, perhaps, that if they did so their economic system would become chaotic and people wouldn't invest in it?

There's nothing chaotic about free choice. All countries print money, they have no intention of allowing others to print their own money and compete.

There's a reason why Europe went to the Euro. Why competing currencies was eliminated and why things were aggregated. Disaggregation causes economic friction at any level.

Why do you think Nixon axed the gold standard in 1971? What do you think the intention was? Why did we change course? The worst that could have happened is that foreign countries would exchange their dollars for gold. If gold is so worthless then why did we axe the fixed converbility? Why not just let foreign countries take the gold in exchange for their dollar reserves?

Because the gold standard was antiquated and inflexible.

You worry about chaos, yet you hold on to government regulations and laws that discourage the use of other currencies. Do you not understand what this is doing?

I can use Euros if I want. I can use anything else. I am free to barter. Nobody does it because it's inefficient.

IF gold, for example, is just as acceptable of a currency as the dollar is (I mean individuals and businesses are willing to accept gold, but don't normally receive it because individuals are more inclined to give up paper when it is worth the same) and if we haven't had a negative inflation rate since 1955 (I'm even using CPI data, mind you) then our dollar has been exponentially inflating.

So what? Wages have kept up with inflation. We haven't inflated, or deflated, to any large extent over what any other country has, thus our exchange rate is roughly equal, keeping PPP in alignment.

We're bound to reach a point where our level of inflation will be noticeable. This is why all these government laws and regulations will cause select commodities and stocks to suddenly skyrocket when a "correction" is made. If you want to have the last word, go ahead. I'm not looking for an argument with you. I know what will happen so I'm stocking up on gold right now, I'll be glad to buy your's if you don't want it.

Items will "skyrocket" only because the market will build in a new expectation for their value, should that scenario happen (and it wont). It has nothing to do with laws or regulations.

Go ahead and buy gold, it's still down 20% from the peak and will likely go further. I'll be laughing my ass off when it goes down to 600.

 

[First]

Originally posted by: IcebergSlim

Originally posted by: Skoorb

Originally posted by: IcebergSlim

Originally posted by: Skoorb

Originally posted by: IcebergSlim

Originally posted by: JS80

Originally posted by: IcebergSlim
this iceland situation is very very very eerie to me. They had a flourishing economy only months ago. Then virtually over night....the international bankers cut them off...pulled their card so to speak and sent the country into what seems like an instant depression. Icelands economy was systematically imploded. I think the U.S. is next and the riots will make this look like candyland.

Who's going to pull the US's "card"? We ARE the card.

the exact kind of hubris that is needed.

How is it not true? Who gives a sh*t what happens to Iceland's currency. If you don't live in Iceland, chances are you had nothing in it. The USD is, to use an overused term, too big to fail. Well, at least in theory. But if it collapses, many countries and billions of people would be directly affected by it. Thankfully, it's not propped up with quite the kind of silliness it could be and the US does still have, but Western standards, a somewhat manageable debt rate, higher than some countries and lower than others. It's going clearly in the wrong direction, though.

They said the titanic couldn't sink either. Listen man history tells us one thing....Great Empires always fall.

Absolutely. And the US, as any other country currently in existence, will fall at some point. Hopefully not this time. I am placing my money (USD, hee hee) on the fact that this will not be the end.

Lets put a 50 Amero's on it.

Tin foil FTL.

 

[dmcowen674]

Originally posted by: SleepWalkerX

Obama and Harper are stooges.

The guy must absolutely must be a Messiah.

To get such accolades and he's still a month from even being in Office.

Go Messiah O :thumbsup: