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Concac said:
I just hope in my life time, this whole monetary system will explode so i can witness the collapse.
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And then what, we go back to trading beaver pelts and elk horns? Yeah, the bartering system is great until there's something you need but you don't have anything the other person wants in return...that's why the intermediates (aka, money) were invented.
 
PrivatePilot said:
And then what, we go back to trading beaver pelts and elk horns? Yeah, the bartering system is great until there's something you need but you don't have anything the other person wants in return...that's why the intermediates (aka, money) were invented.
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What you describe is currency not money.

Money is currently created out of thin air as an entry of a ledger system.

One property that money has that currency doesnt: Store of value
 
Concac said:
Money is currently created out of thin air as an entry of a ledger system.
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Is it? I'm serious, I don't know. I understand new money is printed all the time but why not? At the end of every business day new value is added and needs accounted for. Should that value be accounted for from the existing money pool? You seem to have an interest in this, please explain.
 
inreb said:
Is it? I'm serious, I don't know. I understand new money is printed all the time but why not? At the end of every business day new value is added and needs accounted for. Should that value be accounted for from the existing money pool? You seem to have an interest in this, please explain.
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If you are truly interested, and like to read, I can loan you my copy of "rich dad, poor dad". Robert Kyosaki is very controversial, but this book opened my eyes to things about the US Federal Tresury, America being a debt driven society etc.

Sent from a Samsung Galaxy far, far away using Tapatalk
 
inreb said:
Is it? I'm serious, I don't know. I understand new money is printed all the time but why not? At the end of every business day new value is added and needs accounted for. Should that value be accounted for from the existing money pool? You seem to have an interest in this, please explain.
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In an extremely simplified form: money is really only created when people pay off their mortgages. The bank is not
actually loaning you anything - they're trusting you to create value for them by working/earning income and then paying off the "loan".
 
Joe Bass said:
If you are truly interested, and like to read, I can loan you my copy of "rich dad, poor dad". Robert Kyosaki is very controversial, but this book opened my eyes to things about the US Federal Tresury, America being a debt driven society etc.

Sent from a Samsung Galaxy far, far away using Tapatalk
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Not truly interested. I did pick up some knowledge during the financial crisis on the telly and utube, banks used to lend out deposited money but now lend out only numbers.
 
Matt Rain said:
In an extremely simplified form: money is really only created when people pay off their mortgages. The bank is not
actually loaning you anything - they're trusting you to create value for them by working/earning income and then paying off the "loan".
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Yes, quite.
 
inreb said:
Is it? I'm serious, I don't know. I understand new money is printed all the time but why not? At the end of every business day new value is added and needs accounted for. Should that value be accounted for from the existing money pool? You seem to have an interest in this, please explain.
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I like how ppl still call money creation "printing".

The government would like the public to believe QE is how they increase the money supply. In fact, its the ratio reserve system that creates money. No need to read anyone's book, read straight from Federal Reserve of Chicago : http://lisgi1.engr.ccny.cuny.edu/~makse/Modern_Money_Mechanics.pdf

Oh btw, even tho they're called "Federal" reserve, they're completely private entities.
 
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klr_guy said:
Simple schadenfreude, or what's your end-game if this were to happen?
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I have simple mind so i only look at basic human needs: Food and shelter.

I educated myself on solar power, modern agriculture (hydroponic system) and invested in land.

I'm also learning from other parts of the world : Greek, Cyrus, Brazil, Argentina.

"A load of bread is worth more than a pound of gold"

I'm guessing when the debt driven economy burst, ppl will start to look at what money is and why we let it happens..... i can only hope.

PS. i also just started building my first cnc, as i want to experiment with wikihouse:http://www.wikihouse.cc/
 
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Concac said:
I like how ppl still call money creation "printing".

The government would like the public to believe QE is how they increase the money supply. In fact, its the ratio reserve system that creates money. No need to read anyone's book, read straight from Federal Reserve of Chicago : http://lisgi1.engr.ccny.cuny.edu/~makse/Modern_Money_Mechanics.pdf

Oh btw, even tho they're called "Federal" reserve, they're completely private entities.
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That's all in the book, too. The book may also not read as dry. Ymmv

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Concac said:
I have simple mind so i only look at basic human needs: Food and shelter.

I educated myself on solar power, modern agriculture (hydroponic system) and invested in land.

I'm also learning from other parts of the world : Greek, Cyrus, Brazil, Argentina.

"A load of bread is worth more than a pound of gold"

I'm guessing when the debt driven economy burst, ppl will start to look at what money is and why we let it happens..... i can only hope.

PS. i also just started building my first cnc, as i want to experiment with wikihouse:http://www.wikihouse.cc/
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Yeah... well I'm building an Ark. Good luck all of you'se
 
TO Bandit said:
Yeah... well I'm building an Ark. Good luck all of you'se
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I was so gonna effing use that line too! Lolz

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ZX600 said:
That is fine, I don't see that as borrowing money you don't have. You have it and are just making a transaction that makes sense.

Now, I don't know anywhere that returns 13.5% of your investment ... legally
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My average annual stock market return over the past five years is 26%. Even with the Aug and Sept Chinese-driven meltdown, I'm enjoying over 30% over the past 12 months.

All legal.
 
griff2 said:
My average annual stock market return over the past five years is 26%. Even with the Aug and Sept Chinese-driven meltdown, I'm enjoying over 30% over the past 12 months.

All legal.
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Yea sorry, stock market is not warrantied income, you could do well for a long time but also everything can tumble, ask many people in 2008. for those returns there are high risks.
 
ZX600 said:
Yea sorry, stock market is not warrantied income, you could do well for a long time but also everything can tumble, ask many people in 2008. for those returns there are high risks.
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Keep away from the mining and tech-startups and you avoid the worst of the risks. You may miss out on the next Apple, but you also avoid the next Bre-X.

I keep stocks in a very small number of manufacturing firms and in financials, nothing fancy or particularly cutting edge, and periodically rebalance between them as market conditions change. Safe investments, though the manufacturing side can be somewhat volatile at times, but that comparative volatility gives me plenty of buying and selling opportunities to "create" more wealth, sort of like those tidal power generation plants they have on the ocean coastline of Europe and Japan.
 
inreb said:
Is it? I'm serious, I don't know. I understand new money is printed all the time but why not? At the end of every business day new value is added and needs accounted for. Should that value be accounted for from the existing money pool? You seem to have an interest in this, please explain.
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Inreb, I don't claim to be an expert in these matters, so please allow a twelve year old school girl to explain things:

[video=youtube;Bx5Sc3vWefE]https://www.youtube.com/watch?v=Bx5Sc3vWefE[/video]
 
Jayell said:
Inreb, I don't claim to be an expert in these matters, so please allow a twelve year old school girl to explain things:

[video=youtube;Bx5Sc3vWefE]https://www.youtube.com/watch?v=Bx5Sc3vWefE[/video]
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That 12 year old just made me feel really stupid. When she runs for PM, she has my vote.

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