Is it Gold or U.S. Dollar's and why for either one? Also, why is debt important if they simply make money by computer digits and send those digits wherever they want? I have been researching and wondering what Boquete ning members may think?
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Thank you OLga for stepping up to the plate and you are IMHO, changing for the better the focus of this site!
Unlike popular believe a gold backed currency is far from ideal because gold is a scarce resource which allows those in charge to easily influence the forex markets and thus make the market more unstable instead of stable.
The problem with current money is that it is being printed by, here it comes, a private organization that charges interest to the government and indirectly us. That is where the majority of your tax dollars go.
So the fact that banks use fractional banking and the fact that the government does not print their own money but pays interest to a private organization are the real problems.
I am a big fan of bitcoins or any digital currency as it could be a solution if they allow it.
Of course any government could decide to print their own money instead of bonds as they would be backed by the same government but they don't pay interest over printed money but they do over bonds.
Hope I did not go off topic too much. Ha!
Then, what is the difference from bitcoin or FRN? And more importantly, if money is literally created out of thin air digitally why are any of us paying taxes if it can be created free and given to governments to run themselves?
David,
You should watch this video on YouTube and maybe then you will understand. The difference is when the government prints their own money they do not pay interest to the organization that prints the money. This interest then creates the government debt which all us taxpayers end up paying for.
Watch the movie, it is 3.5 hours long but explains how the banking system really works and what a possible solution is.
https://youtu.be/rtiOEpOnqtI
Great documentary. I have read parts of this before and was aware, but I have never seen it put together and historically documented like this before. It goes much deeper than I had imagined. Looks like it was done in 1994 and sure makes the global recession easier to understand. Question is "is it too late for a solution".
I must say, Wow! Has this been confirmed? I would have to say most people do not know about this. Thank you for sharing.
David,
I guess you could open up the history books and check some of the references like some of the statements of previous presidents and of those that wrote the constitution.
My Dad was a financial planner, always told his clients to hold paper for commerce and Gold / Silver for insurance.
So what you are saying, is that you see a shift in global consumerism to purchasing things made of gold and silver? I am not saying that gold and silver will not remain a precious metal, simply that there is not enough of it to remain a a currency reserve.
While gold and silver have been the fiat currency for centuries because of their rarity, I think their time has passed. If gold and silver are to be the new currencies then I think you would see a dramatic increase in the price of wheel barrels and armored cars to tote it around in. Possibly oil reserves or potable water? Much easier transference and can be easily digitally converted. Change. Of course we haven't seen much of that in the last century. But who knows, maybe we will go back to trading stone and bronze tools.
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