Global Economics

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We are getting close to unification of the world at least Economically. It would be interesting to see how recent economy recession will change economical and governmental structure in the world. We already see consolidation of the banking system. From large 5 we will have large 3, 2?
10 years ago it would sound like another conspiracy theory, but not anymore.

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Type: Discussion • Score: 1 • Views: 1,054 • Replies: 16

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@marcus cv,

The very nature of our monetary system prevents us from ever escaping debt.

1 Reply

@Fatal Freedoms,

Fatal_Freedoms;61020 wrote:

The very nature of our monetary system prevents us from ever escaping debt.

Sorry fatal but that makes no sense.

1 Reply

@socalgolfguy,

socalgolfguy;61155 wrote:

Sorry fatal but that makes no sense.

How so?

1 Reply

@Fatal Freedoms,

Fatal_Freedoms;61176 wrote:

How so?

Exactly.

1 Reply

@socalgolfguy,

socalgolfguy;61245 wrote:

Exactly.

huh?

aa aaa aaaaa aaa aa aaa

0 Replies

@marcus cv,

See..?

1 Reply

@socalgolfguy,

socalgolfguy;61273 wrote:

See..?

no, i don't get what you're trying to say...:rollinglaugh:

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@Fatal Freedoms,

:scratchchin:

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@marcus cv,

What I was trying to point out, my friend, is that a statement claiming "The very nature of our monetary system prevents us from ever escaping debt", although clever, has no basis in fact. There have been monetary systems since the beginning of time using everything from beads to animal hides. Whatever monetary system is in place is has one singular purpose - to rob Peter to pay Paul....(lol)

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@marcus cv,

Peter who?:dunno:

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@marcus cv,

It's an old saying...

1 Reply

@socalgolfguy,

socalgolfguy;61306 wrote:

It's an old saying...

Oh, OK. I thought money was about making a universally accepted commodity that would allow people producing various specific items of barter to more readily trade those items amongst others with other items of barter in an easier and more universal manner.

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@socalgolfguy,

socalgolfguy;61301 wrote:

What I was trying to point out, my friend, is that a statement claiming "The very nature of our monetary system prevents us from ever escaping debt", although clever, has no basis in fact. There have been monetary systems since the beginning of time using everything from beads to animal hides. Whatever monetary system is in place is has one singular purpose - to rob Peter to pay Paul....(lol)

Except the currency we have has no inherent value, unlike a gold coin which has value as gold outside of what value the government decides it has. And the application of interest means we are capable of owning money that doesn't yet exist.

for example:

say I get a loan for $1,000 and i have to pay 2% interest each month, if i never pay it back i could theoretically owe an infinite amount of money.

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@Fatal Freedoms,

Suppose There are 100 dollars in the whole world, John has $5 and Paul has $95.

John Borrows $10 from Paul at a 10% interest rate each month. So john now has $15 and Paul has $85.

But John waits 60 months too long and now owes 600% interest plus the $10. So Paul has $85 and John has -$610.

John does some work for Paul and gets paid $85. So now Paul has $0 and John has -$520. The money supply has gone from $100 to -$520 through the application of interest.

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@Musky Hunter,

Musky Hunter;61317 wrote:

Oh, OK. I thought money was about making a universally accepted commodity that would allow people producing various specific items of barter to more readily trade those items amongst others with other items of barter in an easier and more universal manner.

Much to arcane. You sound like an economist from the Wharton School explaining the trading of West Indian spices to the British in 1780. The only universally accepted commodity is 24 carat gold, I believe. Maybe I should melt down some of my old gold neck chains and rings from the 70's..?

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@socalgolfguy,

socalgolfguy;61339 wrote:

Much to arcane. You sound like an economist from the Wharton School explaining the trading of West Indian spices to the British in 1780. The only universally accepted commodity is 24 carat gold, I believe. Maybe I should melt down some of my old gold neck chains and rings from the 70's..?

That would be about the best purpose for some of that stuff:p

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