always find
exchange good
Topic: When money dies (Read 4868 times)
Kind of misleading.
Fiat might die, but money will not. Society always find a way to exchange good using a medium of exchange (aka money).
Fiat might die, but money will not. Society always find a way to exchange good using a medium of exchange (aka money).
+1000
Year 3000. Once all of the Earth's natural resources are mapped, quantified, and there is no need for labor, who decides what is traded and its price?
A subspecies of Roko's basilisk that charges obscene prices to people who opposed the automation of all labour?edit: I'd not seen that argument. It's silly.
Year 3000. Once all of the Earth's natural resources are mapped, quantified, and there is no need for labor, who decides what is traded and its price?
A subspecies of Roko's basilisk that charges obscene prices to people who opposed the automation of all labour? One one currency fails, another take over. Money will never die.
Year 3000. Once automation has replaced 99% of human labour... where is the place for money there?One one currency fails, another take over. Money will never die.
Year 3000. Once automation has replaced 99% of human labour... where is the place for money there?One one currency fails, another take over. Money will never die.
Year 3000. Once automation has replaced 99% of human labour... where is the place for money there?
One one currency fails, another take over. Money will never die.
And that is why we have bitcoin coming into the picture now
Not so fast. The only thing most people do with the bitcoin is buy money. For as long as bitcoin is tied to fiat it will not become real money. To make bitcoin real money we need to create an economy around it. This means we need to trade bitcoins not just simply for goods at a store but also for property such as cars and land. In addition the bitcoin will need to enter the stock market. As of today the bitcoin cannot replace money.
Money can die,
maybe yes...
Money just made by wood
But we can use other medium transaction like gold or silver
maybe yes...
Money just made by wood
But we can use other medium transaction like gold or silver
Quote
In 1914 there was a minor increase in the wholesale price index. That index, with a base of one in 1913, had increased to 2.45 by the end of 1918. Beginning in 1919, the speed of the inflation increased, advancing to 12. 6 in January 1920; 14.4 in January 1921 and 36. 7 in January 1922. By the second half of 1922, that index stood at 101 in July; it was 74,787 in July 1923 and 750 billion on 15 November 1923.
A good read:
http://mises.org/daily/6945/When-Money-Dies-Germany-and-Paper-Money-After-1910
I will read the article, thanks.
When USSR wanted money to disappear through inflation it went bad. When the USD, EURO and Yen will implode, people will still be able to exchange Gold and Bitcoin
why do we even play games with money printing and interest rates, working so hard to prop prices up.
lets just skip right to a north korean command economy model and dictate what the price of everything should be and be done with it.
lets just skip right to a north korean command economy model and dictate what the price of everything should be and be done with it.
Bingo!
Quote
In 1914 there was a minor increase in the wholesale price index. That index, with a base of one in 1913, had increased to 2.45 by the end of 1918. Beginning in 1919, the speed of the inflation increased, advancing to 12. 6 in January 1920; 14.4 in January 1921 and 36. 7 in January 1922. By the second half of 1922, that index stood at 101 in July; it was 74,787 in July 1923 and 750 billion on 15 November 1923.
A good read:
http://mises.org/daily/6945/When-Money-Dies-Germany-and-Paper-Money-After-1910
Very interesting article. Thanks for sharing.
money never dies
Yeah btw, money as in paper money is dying a slow painful death, it will take decades but it will die, it's brain dead and on machines now kept alive by banksters and conmen in the governments.
Thanks Nostradamus. Any other vague claims?Just look at the amount of physical money (notes and coins) versus the total money supply. If everybody tried to withdraw their money from banks, it just wouldn't be possible. Paper money has been replaced by 1's and 0's on a network.
Yeah btw, money as in paper money is dying a slow painful death, it will take decades but it will die, it's brain dead and on machines now kept alive by banksters and conmen in the governments.
Thanks Nostradamus. Any other vague claims?
Yeah btw, money as in paper money is dying a slow painful death, it will take decades but it will die, it's brain dead and on machines now kept alive by banksters and conmen in the governments.
when money dies we all get back to barter economy or other
Man, it sure would be easier if we could barter using an efficient means of exchange that everyone recognized...
when money dies we all get back to barter economy or other
There are so many reasons that one currency could die. And if that happens, it would simply be replaced with another one. Paper currency is backed-up by an issuing countrys gold reserved, thats why they cant just print money. Over printing would lead to a lower value of that currency.
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