nashy19
Nashy (as himself)
Total debt by continent
I just found it interesting that we owe money to ourselves.
Anyone care to explain?
I just found it interesting that we owe money to ourselves.
Anyone care to explain?
The whole world in debt?
- Thread starter nashy19
- Start date
DeletedUser
I vote to give myself 1 trillion dollars in referations!
DeletedUser
I vote for 2 trillion!!!
DeletedUser
the real point nashy is that none of the money actually exists. Since dropping the gold standard there actually is nothing backing any of the paper. If everyone tried to call in all the debts at once the entire fictional house of cards would collapse.
DeletedUser
Interesting to think about what would happen if the monetary system collapsed and we were forced back into a barter system. I suppose farmer's would be the best off in that situation as people gotta eat.
nashy19
Nashy (as himself)
Yeah I knew that but I'm wondering what governs it all. What would happen if there was a global currency?
DeletedUser
It's all about having faith.
DeletedUser
Screw faith, its science!!! Science and hope. No faith is needed.
nashy19
Nashy (as himself)
Faith in a different context. You don't need to believe in the economy based on faith
DeletedUser
no it's still faith in the same sense.....believing a comfortable lie because the truth is too frightening to face
DeletedUser
Money is just a medium of exchange. As long as people agree to use it as the instrument in trading, it will have value.
As soon as people start to refuse them and enough people do it, money value will take a hit and may become worthless.
Banks create money, not "printing" but creating money by making loans out over and over.
As soon as people start to refuse them and enough people do it, money value will take a hit and may become worthless.
Banks create money, not "printing" but creating money by making loans out over and over.
DeletedUser
Blitzkrieg has a pretty good idea of what's going on. Having a medium is far easier than trading X amount of carrots for X amount of yellow construction helmets, plus how would you pay workers for their labor? I wouldn't say it's a house of cards, so to speak. Bankers, accountants, and stock brokers would obviously be affected, as well as other workers who dealth with money, but besides that, I don't see a whole hell of a lot collapsing. If workers were paid with commodity, they would need a lot more storage space and practical means of transporting said commodity, which is why it's far easier just to accept the medium, which is cash.
DeletedUser13682
I say the barter system is better for local areas, because there will be more constants there. But worldwide, all your camels could die on the boat ride from Saudi Arabia to Cambodia. And I don't want to give my computer away for a year's worth of food.
DeletedUser
Really, if you think about it even with the gold standard money was still based on faith. I mean, gold is just shiny metal that isn't good for anything practical, society just believes it's valuable. The only truly solid currencies are food and water, things that you need to survive.
DeletedUser
Thus why it is valuable.
DeletedUser
We assign a value to money, gold, food, water, whatever. How do we pay for it? You spend your time and/or energy to obtain valuable to "trade". The assignment, arguably, is based on faith, make believe. If enough people believe something is valuable, it will be valuable as people will be willing to exchange their goods & services for it.
Money is a great way to facilitate trade. gold was highly valued for its durability, scarcity. Shells, copper and other metals have been used as money, just ask liquor, alchol can be used as "currency" in some society.
Money is most portable and easiest one really. It's still "barter" in a sense, just people agree to use one common medium of exchange, called, money.
DeletedUser
You telle'm!
nashy19
Nashy (as himself)
I know that golds valuable because we've made it valuable, noted money is valuable too because they are a note to the bank which can be cashed in for money, money that can be used like gold etc.
I suppose if you could print another countries currency it could be used as a war tactic.
I suppose if you could print another countries currency it could be used as a war tactic.
DeletedUser
Indeed, and such has been done in almost every major war reaching back hundreds of years.
DeletedUser14280
That's because if there's more money around, it'll be worth less.
Forging enough money can bankrupt a nation.
If there was a single currency worldwide, who would determine the worth of each country? The U.N.?
Forging enough money can bankrupt a nation.
If there was a single currency worldwide, who would determine the worth of each country? The U.N.?