You have to admit Searle, the US dollar ponzi scheme is a no brainer winner, so far at least. Imagine, simply creating wealth, electronically or by printing any imagined amount on a piece of paper, and presenting that paper for exchange for real hard goods. And, if the price goes up, well, simply print more.
At one time, the dollar represented a certain value as expressed in ounces of gold, and one could go to the bank with his paper dollars and demand real physical gold instead. Now it is simply "legal tender", a weasely word meaning absolutely nothing.
The best part is the fact that it has worked so far, and the world and economy has thrived. But now we appear to be on a race to the bottom, with each country trying to gain some advantage by depreciating their currency against their neighbours and the US dollar. Which means that money is only a comparative value, a con game. If you can get something real for the paper, you win. It's a confidence game. Real money or some kind of a portable store of value and wealth has always been represented by gold, and I believe its role in representing real money is increasing in awareness. Not a doomsday scenario, but an asset easily traded, and which does not represent a "promise" to pay, the opposite of all the creative debt instruments issued by various governments and organizations. In the US, the federal debt is calculated to reach at least 12 trillion dollars in the next 10 years. Personal and corporate debt is also exploding. I see money creation through debt the single biggest monetary problem and the reason to be positive re: POG. |
