Discussion in 'Financial Cents' started by overbore, Jan 10, 2009.

  1. overbore

    overbore Monkey++

    According to Fox news tonight, Zimbabwe just printed a 50 billion dollar note--- just enough to buy two (2!!!!) loaves of bread-- and no fishes.

    How did they get there?

    First, the minorities threw out the educated and productive members of their society.

    Next, they handed out all productive assets to the former minorities.

    Then, they installed political cronies to run the nation and then

    they went on an ever larger spending spree while

    they continued to print unbacked currency without any learning from all the failed mistakes of a fiat currency in history.

    Next they took over healthcare and increased welfare---

    Sound vaguely familiar???:D:D:D

    25 Billion per loaf of bread?? that friends is change, real change! How soon before we are allowed to "participate" in that scheme?


  2. Quantrill

    Quantrill Monkey++

    Sounds like we could all be "billionaires" if things are not controlled soon. [ROFL]

    Seriously, no one with a brain will honor a currency like that. I would demand physical objects, such as I'll trade you my shovel for your loaf of bread, or I'll trade you a box of .22 shells for a loaf of bread. I think currency based economies will be gone after TSHTF, but may slowly return if things get more civilized.
  3. ozarkgoatman

    ozarkgoatman Resident goat herder

    On the positive side of that is that I and many other Americans could get one note and be dept free plus get almost 2 loaves of bread. [lolol] [boozingbuddies]

  4. Quigley_Sharps

    Quigley_Sharps The Badministrator Administrator Founding Member

    nice bill .....lol
  5. ghrit

    ghrit Bad company Administrator Founding Member

    What's the exchange rate?
  6. Quigley_Sharps

    Quigley_Sharps The Badministrator Administrator Founding Member

    5052.92 American
  7. Brokor

    Brokor Live Free or Cry Moderator Site Supporter+++ Founding Member

    It's a poor state of affairs when even the "money" has an expiration date on it. Check it out, no longer redeemable after 6 or 7 months. That's AWESOME.

    I would be baking my own bread and selling the rest for mega profit! Woo0-Hoo0!
  8. Jeep79

    Jeep79 Monkey++

    I think Quantrill is spot on. The best example IMO of an American economic melt down is not the depression but Confederate America during the Civil War. Within weeks of the outbreak of fighting the southern economy began to crap out and the paper Confederate currency was bassically usless, the printing of un backed currency just jacks up the price of the goods and we (as a society) continue to to repeat the same mistakes.
    but then again don't we all want to be "rich"?
  9. Brokor

    Brokor Live Free or Cry Moderator Site Supporter+++ Founding Member

    That's actually the WORST example, taken from your perspective, but also the BEST example, if you actually know that the CAUSE was not due to the currency -(which was the ONLY debt-free currency America ever had) but rather, it was due to the private bankers massively debasing the currency through inflationary means. Remember, Lincoln was soon out of the picture after the banks got their National Banking Act passed. Lincoln frightened the SH*t out of the European bankers enough so that any chance WE EVER HAD at a unified nation with our own debt-free currency....was out the window.

    The privatization of the banking industry is what killed this nation, my friend. The Lincoln Greenbacks were phenomenal -they carried the north through the war (that's HALF a country) and still managed to remain in circulation, DEBT FREE, until the 1990's. You want a real bedtime story? Tell the one where an entire nation almost had themselves the greatest debt-free FIAT economy in the history of the world.
  10. Jeep79

    Jeep79 Monkey++

    [BSf]You missed it. For the brief period of its existance, the CSA had printed its own currency (Seperate from the Greenback) As this was an ungrounded currency (that is little or no gold to back it) it became devalued in the same way Zimbabwe's currency has. The political solution is to print more paper and dump it in the market so there will be enough to buy the bread this results in Hyper inflation. Untill that market effectivly collapses and other currency from neighbor states is used and or a barter system stands up. All of which I'm sure you well know.
  11. Brokor

    Brokor Live Free or Cry Moderator Site Supporter+++ Founding Member

    lol, you are correct -but my argument is centered around privatization, as this is the real cause, not the currency itself. We can notch sticks like the British, and as long as it is accepted as currency -it will function. The currency can be anything, even a gold based economy, but my point is focused on the private banks, who cause all of the problems.

    The main argument I have with a gold backed or silver backed monetary system, is that it becomes extremely easy for an outside influence to gain a foothold on our monetary system -as history proves for us. The colonists did quite well with their own form of FIAT with colonial scrip, until Britain demanded they use silver to pay their debts. Once that was accomplished, it was only a matter of influencing the political arena enough to start up a franchise. This is why we have ALWAYS had private banks in this nation, with exception only to the period between Jackson and Lincoln, until the bankers once again gained control of our monetary system.

    I hope that I am making myself clear. I don't disagree with your reasoning, because it is TRUE that the greenbacks became hyper-inflated -but it wasn't the result of the war alone, and the private bankers were at the helm.
  12. Jeep79

    Jeep79 Monkey++

    naw, I think we're talkin' along the same lines.
  13. CBMS

    CBMS Looking for a safe place

    So Brokor, you believe that we would do better if the Federal Reserve was indeed a branch of the Government? Wouldn't that allow the Government to control the Fiat money for its own uses say to make or brake a certain groups? I think we can all agree that a physically backed monetary system would be the best (Say based on gold or silver), however I think what the Federal reserve has done is the correct action for our own survival. By thinking like a buisness it has avoided any major crap outs, unlike the banks of Zimbabwe. This process is not harmful for the country as long as the bank has the countries best interest at heart. What I believe has happened is that the power and greed has corrupted most of our federal branches, and has become tyrannical.
    just my Two Cents
  14. Brokor

    Brokor Live Free or Cry Moderator Site Supporter+++ Founding Member

    Quite the opposite, in fact -but along the same lines of thinking, yes. Let me explain. The FED as we know, is a private corporation with stock being held by foreign interests. Under Lincoln, the "banks" acted as clearing houses only, as is their only rightful function (for a time, and they began to work independently and were kept this way until the Nat. Banking Act of 1865 *I believe* began to solidify their enterprise). With a currency legitimately authorized by Congress, without the usury (hence no borrowing and no debt), the system would function quite simply, really. The Europeans knew how terribly powerful such a nation would be, it would wield significant power and be without holding to an outside influence. Of course, the PEOPLE of this nation would have to keep their government in line, which is why this model will work best with a minarchy such as what we had initially and for the most part until 1933. Today, we have an out of control dictatorship with private banks still running the show and alphabet agencies enforcing their will and keeping their secrets.

    A closely managed monetary system which only consisted of the printing of currency without usury and compound interest, and with clearing houses established would tightly control the fundamental aspects behind "banking" as we know it. Of course, the option to install a gold based non-fractional reserve would only limit the scope of the size and power of a modern nation. There is only so much gold in the world, after all. This portion of the topic is still debatable, as lower costs could diminish the factor significantly, however the possibility of having private interests once again hoarding precious metals and collectively debasing the currency would still exist. This is why I fancy the FIAT currency, as was established under Lincoln. We must try to find the truth behind why this period in our history was so important, and focusing on "who benefited" is a really good start. As I mentioned earlier, the private banks sought to control the monetary system and have complete control in the country since Andrew Jackson had done a great job getting rid of them several decades earlier.

    The bottom line is -the PEOPLE have already proven that they cannot control their government, and our type of society is highly vulnerable (at every level) to outside influence.
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