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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Tommaso who wrote (76800)	7/25/2011 5:55:28 AM
From: TobagoJack	1 Recommendation Respond to of 218645

which french episode do you believe is more applicable to this day? john law 1718 or fiat money 1793? there are material differences between the two acts of the drama.

To: Tommaso who wrote (76800)	8/20/2011 11:36:30 AM
From: Hawkmoon	2 Recommendations Respond to of 218645

Interesting bit of history that I wasn't aware of.. Thanks!! I still believe that Fiat is preferable over gold/silver. Fiat is based upon the economic potential of humanity, while gold/silver relies solely upon the availability and distribution of those precious metals around the world. That distribution of precious metals was the primary cause of numerous "resource wars" where nations suddenly became fabulously wealthy by conquering their neighbors, not by being more economically productive. The problem is that a Fiat system requires strong regulatory control to prevent excessive printing of money. And that takes a strong human management system that is not subject to greed. The Fed was the closest thing we had to that system. It is private, which kept the politicians at bay, but subject to the machinations of the financial power elite who come up with crap like Credit Default Swaps and OTC derivatives. Regulation is what is required to maintain as fair and level a playing field as possible for orderly markets to prevail. I know.. utopia. But let's not fool ourselves into thinking currency backed by precious metals is a panacea. It's not and many of histories wars of conquest were caused by the quest for gold and silver. I would rather we have a quest for educated and trained human capital because that is where TRUE economic productivity and prosperity come from. Hawk