I VOTE YES ON CALEXIT!

[Kinser79]

(03-13-2017, 07:50 AM)Odin Wrote: In the long run everything "fails", even with precious metals eventually you'll get rulers who debase the currency for short-term reasons, see Rome during the Crisis of The Third Century. All genuine currencies used as currency (as opposed to just units of metal in simple barter) require some sort of faith in the institution issuing the currency that it is really worth that it says it's worth.

In the case for Rome, people eventually resorted to gold and paid their taxes only in the Silver denarii which ended up being more copper than silver. That being said it is far harder to inflate a coin based currency than it is a paper one.  Indeed far more money in the current system is "created from thin air" by the issuance of loans from private banks (via fractional reserve banking) than the fed ever could make.  Even Playdude himself admits that the Fed can create money just by changing the figures on a computer spreadsheet.  As such I have very little faith in the current system and only use it in so far as it is necessary to fulfill my needs.

This video is long so I won't embed it.  I suggest everyone watch it though.

https://www.youtube.com/watch?v=qh7rdCYCQ_U