Jump to content
House Price Crash Forum
Sign in to follow this  
bendy

Gold Standard

Recommended Posts

Just what is there to stop this madness going on forever? I assume 30's Germany hyper blew up into something ridiculous due to still being gold pegged but are any currencies still this way and does it even matter if the world reserve isn't pegged to it?

Not a gold thread btw, I just don't see how TPTB can't print forever if money literally does go on trees. Of course there is then the possibility of an 'uprising' but how easy is it to recruit (bribe) one of the suppressed plebs with a new built flat (box) and a role in the force with a tazer and water cannon?

Jeez I hope I'm wrong and that here is right but our track record of 10 years now isn't anything to hark about is it :(

Off to bump the bump when drunk topic in OT, had sunny ciders :)

Share this post


Link to post
Share on other sites

One interesting stat that got me thinking about what money actually is, is the interesting fact that in the history of the Bank of England, it took 300 years to create the first 1 trillion pounds, to create the second trillion took........10 years!

Personally I think that the fact our currency and all others are not tied to something real (could be gold, could be silver, could be coal, could be oil) means that we will eventually get to a point where it is shown to be completely out of control, at that point it will be devalue pretty quickly.

The thing is, how long 1 year, 10 years,100 years?

To my way of thinking the creation of pounds is completely out of control already, but this isn't even on the radar screen of many many people who work in finance or are considered to be financially savvy.

Share this post


Link to post
Share on other sites

Weimar's hyperinflation was 1921-23 so nothing to do with the 30s depression.

Share this post


Link to post
Share on other sites

Just what is there to stop this madness going on forever? I assume 30's Germany hyper blew up into something ridiculous due to still being gold pegged but are any currencies still this way and does it even matter if the world reserve isn't pegged to it?

Not a gold thread btw, I just don't see how TPTB can't print forever if money literally does go on trees. Of course there is then the possibility of an 'uprising' but how easy is it to recruit (bribe) one of the suppressed plebs with a new built flat (box) and a role in the force with a tazer and water cannon?

Jeez I hope I'm wrong and that here is right but our track record of 10 years now isn't anything to hark about is it :(

Off to bump the bump when drunk topic in OT, had sunny ciders :)

http://www.amazon.co.uk/When-Money-Dies-nightmare-Hyper-Inflation/dp/1906964440/ref=sr_1_1?ie=UTF8&qid=1406314469&sr=8-1&keywords=when+money+dies

I would suggest reading this on the German hyperinflation possible when not drinking cider. :lol:

Share this post


Link to post
Share on other sites

One interesting stat that got me thinking about what money actually is, is the interesting fact that in the history of the Bank of England, it took 300 years to create the first 1 trillion pounds, to create the second trillion took........10 years!

Personally I think that the fact our currency and all others are not tied to something real (could be gold, could be silver, could be coal, could be oil) means that we will eventually get to a point where it is shown to be completely out of control, at that point it will be devalue pretty quickly.

The thing is, how long 1 year, 10 years,100 years?

To my way of thinking the creation of pounds is completely out of control already, but this isn't even on the radar screen of many many people who work in finance or are considered to be financially savvy.

..

So the Bank of England, the first English joint stock bank and destined to become the first among all banking institutions, was brought into being, not so much as an instrument to promote national industry and to encourage commerce, as a device for getting an unpopular king out of a financial hole.

P4, the rise and growth of joint stock banking.

The BoE primary reason for existing was to allow the British monarch of the time to fund war. It was never created to stimulate the economy.

Share this post


Link to post
Share on other sites

Weimar's hyperinflation was 1921-23 so nothing to do with the 30s depression.

The Weimar hyperinflation had an lasting impact on the German psyche which endures to the present, and the national reaction to the Depression that came in 1929/30 was much more severe than in the US as a consequence. It's perhaps too much to argue that the events of 1921-24 led directly to Hitler's election but their legacy was a corrosive presence throughout the decade.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   203 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.