Brain Dead

[Roll_With_It_Russ]

maybe you're the one listening to the news too much,there's hundreds of fiat currency systems still around today russ, you are forgetting to also mention the fact that all commodity based monetary systems have also failed.


most of the the 'bullshitter's' who got their 'liar' loans were actually goaded into it by rogue mortgage brokers and directly through the scurge that is the british banking establishment, too greedy to walk away from a potential sale, who fixed peoples income and expenditure exercises to make it look affordable for them,and even set up interest only mortgages for people knowing full well that that they had no contingency plan in place to pay back the capital at the end of the mortgage term. thus putting them into nothing more than a long term rental agreement with the bank.

i'm talking about current fiat... commodity backed did not fail if just was not suited to facilitate credit and create wealth.

so someone else is responcible for the borrowers (stupidity) naivety, you can't make everybody richer without making everybody poorer at same time, future generations.

Though you can't tell any body over 60 it seems that majority of people will not see wealth in later life like the retired are today, they are in the belief that they worked hard for it and or are entitled.

[mr lugsy]

well, if commodity backed currency wouldn't facilitate the need for credit it was no longer fit for purpose and thus, it failed. this is the opinion of world wide experts aswell ,actual ones and not just the armchair types.

recent working fiats may include a few of the more solid currencies that went into the euro such as the french franc, which was decimalised at the end of the 18th century and perfectly viable up until the introduction of the euro in 1999. also, whilst on the subject ,there's nothing of substance anywhere that suggests that the british pound was decimalised because it was failing, this was merely a step taken to make things easier for people , it was first proposed in 1824 to follow the french lead lead but was thrown out of parliament.

another perfectly sustainable fiat was china , they used a paper money for over 4 centuries without any hitches until they were invaded and conquered, the minute they were switched to a gold standard it went downhill.

[blackmogu]

I wonder if the government should return to the gold standard ?

http://www.youtube.com/watch?v=SjxY9rZwNGU

[mr lugsy]

LOL , when i saw your moniker as the last post in this thread i was expecting something different

[Ruler of The World]

Yawn. This thread has made me feel brain dead, so it succeeded.