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.
The only talked about alternative to "no money" is RBU. Going back to gold standard is even more delusional than that.
many factors that can make a fiat currency can die, but not all factors may occur simultaneously and not necessarily those factors could apply in a country, a factor which makes the currency of the country may die, distrust of the currency markets that exist and exchange rates the very little impact on currency trading that are excellent as the dollar ... 
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).
Let's be more precise: one currency can die. This is what happened in Germany 90 years ago.
All currencies are not equal.
After reading that book, be sure to read "Fiat Money Inflation in France" by Andrew Dickson White:
Read online:
https://archive.org/stream/fiatmoneyinflati00andrguat#page/2/mode/2up
or download here:
http://www.gutenberg.org/ebooks/6949?msg=welcome_stranger
Read online:
https://archive.org/stream/fiatmoneyinflati00andrguat#page/2/mode/2up
or download here:
http://www.gutenberg.org/ebooks/6949?msg=welcome_stranger
http://www.bbc.co.uk/schools/gcsebitesize/history/mwh/germany/crisis1923rev_print.shtml
People collected their wages in suitcases. One person, who left their suitcase unattended, found that a thief had stolen the suitcase but not the money.
People collected their wages in suitcases. One person, who left their suitcase unattended, found that a thief had stolen the suitcase but not the money.
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).
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
Were those the days were you had to carry money in the barrels just to buy a loaf of bread? The hyperinflation in the 20s Germany? It might happen anytime soon these days. Paper is just that - paper.
your right, we should take the monetarist/Keynesian scam that destroyed world markets twice (soon to be three) in the last 14 years seriously.
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.
Well, it makes sense to take the dominant model seriously, since it is at work every day. I don't think you can lay all these evils at the feet of an economic model, however, that's simply lazy thinking. 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.
No no no no. First, Mises is not a good reference. There is a reason the vast majority of econ professionals look at the Austrian school like an embarrassing little brother.
Second, Bitcoin holds no inherent value, none. There is no transactional benefit in using Bitcoin versus a currency. An internet fad =/= superior system.
Second, Bitcoin holds no inherent value, none. There is no transactional benefit in using Bitcoin versus a currency. An internet fad =/= superior system.
Austrian school that is annoying because it is right all the time and the big brother with the power hates being reminded about it all the time.
And thank you for making your view on Bitcoin clear instead of just trolling. My ignore list welcomes you. If I wanted to discuss the dollar I would go to bankrate.com.
your right, we should take the monetarist/Keynesian scam that destroyed world markets twice (soon to be three) in the last 14 years seriously.
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.
No no no no. First, Mises is not a good reference. There is a reason the vast majority of econ professionals look at the Austrian school like an embarrassing little brother.
Second, Bitcoin holds no inherent value, none. There is no transactional benefit in using Bitcoin versus a currency. An internet fad =/= superior system.
Second, Bitcoin holds no inherent value, none. There is no transactional benefit in using Bitcoin versus a currency. An internet fad =/= superior system.
Austrian school that is annoying because it is right all the time and the big brother with the power hates being reminded about it all the time.
And thank you for making your view on Bitcoin clear instead of just trolling. My ignore list welcomes you. If I wanted to discuss the dollar I would go to bankrate.com.
No no no no. First, Mises is not a good reference. There is a reason the vast majority of econ professionals look at the Austrian school like an embarrassing little brother.
Second, Bitcoin holds no inherent value, none. There is no transactional benefit in using Bitcoin versus a currency. An internet fad =/= superior system.
Second, Bitcoin holds no inherent value, none. There is no transactional benefit in using Bitcoin versus a currency. An internet fad =/= superior system.
Austrian school that is annoying because it is right all the time and the big brother with the power hates being reminded about it all the time.
And thank you for making your view on Bitcoin clear instead of just trolling. My ignore list welcomes you. If I wanted to discuss the dollar I would go to bankrate.com.
No no no no. First, Mises is not a good reference. There is a reason the vast majority of econ professionals look at the Austrian school like an embarrassing little brother.
Second, Bitcoin holds no inherent value, none. There is no transactional benefit in using Bitcoin versus a currency. An internet fad =/= superior system.
Second, Bitcoin holds no inherent value, none. There is no transactional benefit in using Bitcoin versus a currency. An internet fad =/= superior system.
Austrian school that is annoying because it is right all the time and the big brother with the power hates being reminded about it all the time.
And thank you for making your view on Bitcoin clear instead of just trolling. My ignore list welcomes you. If I wanted to discuss the dollar I would go to bankrate.com.
No no no no. First, Mises is not a good reference. There is a reason the vast majority of econ professionals look at the Austrian school like an embarrassing little brother.
Second, Bitcoin holds no inherent value, none. There is no transactional benefit in using Bitcoin versus a currency. An internet fad =/= superior system.
Second, Bitcoin holds no inherent value, none. There is no transactional benefit in using Bitcoin versus a currency. An internet fad =/= superior system.
Simple, when money dies, Bitcoin prevails. It's as simple as that. Bitcoin was invented for that very moment.
Still don't get why people are losing sleep over the price crash. We should all be used to this by now.
Good article however my lack of history economics knowledge made some things harder to understand
Thanks. This might be the cure for the insomnia caused by the price crash. 
Thanks for sharing I'll add that to my reading list and will weigh in on anything which I think needs to be discussed later.
And that is why we have bitcoin coming into the picture now
I thought this was going to be about Beanz LOL
Quote
"In a few years time, most of the world will be as sick of managed paper currencies as it was twelve years ago. The main trouble will be that popular ignorance and lethargy, coupled with selfish special interests, forces politics into the management of economics and the management of economics into politics. Politically speaking, the world is yet far from being ready for managed paper currency standards."
Great article, thank you for sharing
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
Thanks for sharing.
I have been loving your posts lately.
Impressive.
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
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