| Thanks for some really good pieces of reading. The whole experiment with promise on paper end up always in one big fiasco. The smarter rulers in trouble at least were adding other metals to the coins so the illusion lasted bit longer as one could argue that his teeth and bite is not accurate. Any fiat currency might serve people as long as people are willing to trust and here starts the real problem in our modern educated society. Starting at basic element of society - the wife and husband - for good and bad they promise themselves in the good time (witness or two required) how many really keep this promise? Politicians - they'll will promise to bring the star from the sky to get elected. Employers - guys these stock share options are hundred times better than real wages, you can retire with them at age 40, having your own yacht and villa in the ski resort, beside our pension plan is the best in the whole industry.. Religious leaders - each one will promise you different kind of heaven or hell for your sacrifice or sins. Warlords - the country will always remember your sacrifice and will give the medals so they shine on your chest when you are in the wheelchair or walking with the crotches, and trust them because this is the war for the right cause (both sides telling their soldiers same thing). NOTHING WRONG, we are all the humans only, some wise, some smart, some stupid but who we really are was, is not up to us. Call it right time at the right place or opposite. There is a time when the toys are in demand and the time gold is the King, because demand for this yellow silent form of exchange is always growing when the reality finally knocks hard at the doors. Ask the debt collector what he wants for the payment - promise, toys, or gold. There is no difference between individual debt or national, the lenders will keep giving you the money as long as you are able to bullsh*t them, next step is they will try to help you to recover but what if you are not really interested in the recovery? Small guy small trouble, but the giant might bring the whole system down. |
