I VOTE YES ON CALEXIT!

[Galen]

(03-12-2017, 03:10 AM)Kinser79 Wrote:

(03-12-2017, 01:07 AM)Galen Wrote:

(03-11-2017, 11:53 AM)Kinser79 Wrote:

(03-11-2017, 10:54 AM)Odin Wrote: Ah yes, the usual "HYPERINFLATION IS COMING, THE END IS NEAR FOR EVIL STATIST COLLECTIVISM"  predictions that never pan out.

Can you name me one historical fiat currency that hasn't collapsed?

Judging from the silence he hasn't found one yet.  Hint Odin: Its because there isn't one.

Once the currency blows up you have a choice go down the road of Venezuala and Zimbabwe or embrace the free market.  Even in places like that the informal economy comes in to being and in fact saves people from their own government.  Even in benighted places like this the free market improves many individuals lives even while their government tries to stamp it out like the Soviet Union tried.

Precisely why I asked the particular question I asked.  I conducted my own investigation--I didn't want to believe myself that fiat currencies inevitably always fail.  That isn't to say that they can't be made to work for long periods of time (Colonial Scrip was moderately successful as were United States Notes [but both were side by side with specie]).

The dollar as fiat will last exactly as long as the petrodollar system does and the petrodollar system looks like it is reaching its expiration date.  The wars the US has engaged since 2001 have been primarily targeted at nations that are a threat to that system.  This is one of the main reasons for Targeting Libya although the French also had other goals there.  Iraq made the mistake of selling oil for Euros in the oil for food program.  Iran has been selling oil in other currencies for quite some time which explains much but not all of the hostility toward Iran.  Russia, with extensive oil reserves, is also a threat to that system.

I do not believe in coincidences.