Topic: 2014 World Fiat Collapse? - page 2. (Read 2468 times)

60% is huge deflation. 10% drop is a correction.

I think the same way! I can't see the substitute for fiat nowadays , even Bitcoin can't replace it - it is too volatile, too young to become a common payment instrument , nowadays it is good as additional payment system

That's a bubble

2008 - 2009 was our warning I think we're fast approaching the point of no return now, in fact, looking at the numbers I think we've already reached our peak, we're probably just going to go down from here.

Collapse no, a gradual decline in influence yes

Not likely

The fiat world will stumble on for another generation or so

I don't think it would be revolution. Simply after awhile people would slowly move to better alternatives of fiat. I actually happens right now. Problem is monetary system is support by government and we already saw what government can do at recent crisis. With unlimited support from taxpayers and loans it can keep system alive for very long time.

The early 1970's?
Yes
The Libertarian Party was founded in 1972 by people who "gave up" on Nixon and the Republicans.



I've gotten used to ignoring the "pending doom", but the word "frightening" does sound pretty accurate.
Will rose colored glasses help?

Some would say that the economic history of the U.S. has been a repeated series of efforts to kick the can down the road ever since Nixon closed the gold window in, what, the early 1970's?

If so, the fact that they've stretched things this far, to 2014, is frightening. I really have a hard time seeing it lasting another 10 years, but who knows... maybe some new energy tech will miraculously appear and stave it off for another decade or two (again, yes, making the inevitable crash that much worse.)

Some of them remember me talking about it in 1989. 

Tell your friends and family.  Speak up for what you believe in.

The longer the Collapse is delayed the worse it will be.
It has been delayed for decades. 

The answer is yes.  It would be wise to prepare, the sooner the better.

I remember preparing for the death of the dollar in 2012
Then the silver bubble popped... Then I found bitcoin

Sure there is: the simple mathematical fact that an ever-increasing expansion of debt (which the current system is based on) is unsustainable.

It has to end, either voluntarily or involuntarily. And since TPTB don't seem too keen on letting the system end voluntarily....

As far as I can tell, there's no reason to believe fiat currencies/economies are headed for any kind of collapse. The world's economies have weathered the last recession like they did every one before it and are now back on the path of growth and prosperity. Yes, there's always issues to address with the nature of banking, the extent and type of regulations, the security, cost, and speed of transactions, etc, but these are all evolutionary changes that will happen over time, not requiring any collapse or revolution.

With any luck, cryptocurrencies like bitcoin will exist in parallel, allowing a different kind of functionality, and a different sets of advantages and disadvantages, to government fiat money.

1. Think of how much would have to change in our nation technology wise in order to completely do away with paper bills and coins.  Then realize how much more advanced the US is compared to many other countries.  This would prevent any change for a few decades.

2. You cannot have individuals in-charge of mining your sole currency.  Simple fact, energy is expensive in the US and Europe compared to the rest of the world.  We're any crypto currency made the sole currency (and therefore incredibly more valuable than any coin currently is), you would rapidly approach the equilibrium of cost to create a coin = value ofa  coin.  Therefore, all mining would be done in pollution friendly countries that rely on sources like coal to power computers.  Good luck convincing citizens of the developed world to hand over this much power and wealth to China.

3. Contrary to Libertarian beliefs, there are actually positives that come along with a central bank, and economies can go to hell really fast if someone's not making sure that there's an appropriate amount of money floating around.

4. If any coin was widespread, it would not be that much different than current currency.  If anything, and we did end up switching to some crypto currency, it would not shock me in the least if it was through government manipulation into some code that they not only controlled the production of, but could track with ease as well.

More like by the year 2020!

Equality is so far off that there will either be obesity or starvation, sorta the way things are adapting now.

A moneyless system is inevitable, but it will take more than 5 years and will be accompanied by a lot of political turmoil as those whose power is vested in the current system struggle to retain control of their power.