10-21-2010, 02:03 AM | #21 | |
wtf I am jesus?
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Re: 9% of the World owns 79% of the Wealth.
Quote:
It's kind of argued that they did it on purpose to pay back the war reparations, but they actually weren't allowed to pay back their debt in german money lol. Long story short, don't make more money just get yourself out of debt. |
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10-21-2010, 02:19 AM | #22 |
I am leonid
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Re: 9% of the World owns 79% of the Wealth.
rofl
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10-21-2010, 08:36 AM | #23 | |
FFR Player
Join Date: Dec 1969
Location: New York City, New York
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Re: 9% of the World owns 79% of the Wealth.
Quote:
But let me just clear this up -- printing money doesn't mean the government just runs to the presses and hammers out a bunch of bills to repay their debts. The Fed can raise/lower the supply of money in the system by changing the reserves that banks are required to hold. Holding onto more money = credit tightens. Otherwise, you can raise/lower the interest rates or go into open market transactions aka the government buying/selling bonds. It all operates under the function of credit. Things collapse when you take on too much risk or debt. Printing more money IS issuing debt.
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https://www.youtube.com/watch?v=0es0Mip1jWY Last edited by MrRubix; 10-21-2010 at 08:46 AM.. |
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10-21-2010, 10:38 AM | #24 |
FFR Player
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Re: 9% of the World owns 79% of the Wealth.
All of the debt caused by either war time or past war time reparations (i.e. Germany just barely paying off their debts from WWI) along with all of the New deal plans from FDRs time is what keeps the debt of not just the USA to go up, but the rest of the worlds (except for china)
But, I feel that the US has dug too deep of a hold to even climb out of at this point. The only thing that stabilized the economy was for it to crash and start anew.
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10-21-2010, 11:20 AM | #25 |
wtf I am jesus?
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Re: 9% of the World owns 79% of the Wealth.
What ever happened to the talk they were having about possibly switching all of North America to one standard currency? Any input on that?
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10-21-2010, 06:06 PM | #26 |
Sectional Moderator
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Re: 9% of the World owns 79% of the Wealth.
Lol I don't know who was talking about that but it likely would never happen. Besides Canadian to American and vice versa is par these days so it's basically already like that.
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10-25-2010, 06:44 PM | #27 |
FFR Player
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Re: 9% of the World owns 79% of the Wealth.
Fractional banking. Debt compounds more debt. Impossible to ever pay any of it off after the initial premium compounds interest. Created to fail... blah... blah... blah.
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In due time once all modern architecture is gone it will be called ancient. Because no matter how hard we work to perfect something, as time will progresses we shall dwell upon how imperfect it really was. Intelligence is only a value if you harness it. |
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