Good mantra. The key to happiness: LIVE WITHIN YOUR MEANS.
BTS
Ain't that the truth!
Sylvia
Billions of Dollars pumped in overnight? Where is it coming from?
by restrangled 76 Replies latest jw friends
-
snowbird
-
BurnTheShips
Ain't that the truth!
It's nice to be in agreement with you again Sylvia.
BTS
-
drwtsn32
When there is the perception that the government will bail you out of your stupidity, this only encourages more bad decisions.
Agreed. It bugs me to no end to see the government bail out many private companies. We, the tax payers, end up paying for the company's poor performance.
-
snowbird
It's nice to be in agreement with you again Sylvia.
BTS
Oh Burn, you know I luvs ya.
Sylvia
-
1914BS
The BIG FUCKING LIE OF CREDIT
-
BurnTheShips
Agreed. It bugs me to no end to see the government bail out many private companies. We, the tax payers, end up paying for the company's poor performance.
Fannie Mae and Freddie Mac. AIG. Bear Stearns.
Privatized Profits.
Socialized Losses.
Bullshit all the way around.
It's welfare, people.
BTS
-
drwtsn32
I looked up what you said and it seems to be very true..... for those doubting see the following link.
BA states the Fed Reserve is private; that link and Wikipedia say otherwise.
BA is definitely right about money's value being based on faith though. But that is true of anything. Even gold has no value if people don't want it.
-
restrangled
Even though this is not a political thread, I have to say it's nice to be in agreement with everyone from either party and independents! Hopefully we all won't have to learn the horrible lesson they learned in 1929 all over again.
http://en.wikipedia.org/wiki/Wall_Street_Crash_of_1929
r.
-
BurnTheShips
BA states the Fed Reserve is private; that link and Wikipedia say otherwise.
I think what BA meant is independent.
Of course, I don't believe that and I doubt he does too.
Even gold has no value if people don't want it.
True, but gold has the longest track record of any medium of exchage as a store of wealth. It is easily divisible (easy to make into units such as coins try that with cattle), it is fungible (gold is gold is gold), it is portable (some societies have used cattle as currency, try, taking that to the market in your pocket) ,it is hard to counterfeit, it does not degrade with age (Gold is a noble metal), huge new supplies are do not suddenly appear (this maintains the buying power of gold over time).
The economy of the Roman Empire was stable until the emperors started debasing the currency by reducing the gold content of the coinage. This caused runaway inflation which is one of the factors that led to the fall of the empire. Every time the Fed creates a dollar out of thin air, the dollars in your bank account depreciate by a certain amount.
BTS
-
BurnTheShips
Hopefully we all won't have to learn the horrible lesson they learned in 1929 all over again.
The problem is that WE DON'T LEARN.
The Government's temptation to create money to finance its expenditures is too great. The fox is running the henhouse. They will do this again and again. Guess what FDR did in the 30's? He confiscated everyone's gold. Look it up if you don't believe me. The dollar lost value and people turned to private money, gold, instead. This was a threat to the goverment. He collected a huge percentage of the metal held in private hands.
Even then though, the dollar was tied to a certain weight of gold. And was convertible to such from the government's own gold reserves. Nixon closed the gold convertability window. This meant that the dollar was no longer tied to a gold standard. Check what happened with the value of our currency (and the US economy) during the 70's after that one.
BTS