Global Financial collapse

[Finnster]

@Sik:

Why can't you print money? Because its not your currency. You have no authority. The $ is legal tender of the Federal Reserve. You have no more right to print $ than you do Euros, pesos, pounds, rand, rubles, or rupies etc. Printing any of those is fraud, to state the obvious.

You can print money all you want. You just have to do it in YOUR currency. There is nothing stopping you from creating Monster Dollars or whatever you want. Bitpim is a wholly invented internet currency. The US used to be a patchwork of different currencies before there was a central bank and consolidation under the dollar. Private banks even had their own notes, as well as individual states.
The trick is getting people to have confidence in the currency.

If the FED allowed people to just issue their own notes, then there would be no integrity of the currency, and it is just paper then.

[JERRY2KONE]

I have been sort of cut off from any real good quality English speaking news living in Prague, but what we have heard about as far as bailing Greece out is this. The Czech Republic was one of the "hold outs" for saying no to Greece. The main reasoning is this. The Czeh Republic is relitively new as a country let alone to the EU. They have suffered operssion and depression on many levels before gaining their own soverenty. They have ome a long way in a very short time, but they have a very long way to go before catching up to most of the other Eu countries. Here in the Czech Republic when they retire there is a Gov retirement system of sorts that pays out something in the neighborhood of $200 to $400 a month in retirement benefits. Comapre this to what Greece does, which is $1000 to $1200 a month in retirement funds for each retiree. So of coures the concenses on this end is F*&^ that. Instead of looking for a hand out from countries that live at a much lower standard of living what Greece needs to do is lower its own standard of retirement benefits. I am not a huge market person so I am not real sure of what the rest of the EU are receving for retirement benefits. I am sure that there is not a whole lot of equality between the EU countries as there are between the states in the USA. So dealing with bailouts in the Eu are going to be quite different. Like you stated Finnster there is going to be alot of growing pains for EU before any sort of equal ground is found for them to work with. As long as you have unequal sides there is going to be no long term reolution. Just like the USA if one state falls there is likely to be a domino effect. This is a risk for the EU as well. If one country falls there will be others, and once this starts just how far will it reach is the only question that cannot be answered. Germany, France, Brittain, and a few of the other giants will survive, but the devistation will be far reaching.

[sikeston34m]

"@Sik:

Why can't you print money? Because its not your currency. You have no authority. The $ is legal tender of the Federal Reserve. You have no more right to print $ than you do Euros, pesos, pounds, rand, rubles, or rupies etc. Printing any of those is fraud, to state the obvious."

NO SH!!!T

But we don't EVEN know what the FED has been doing. We only have a rough idea and it isn't good. To power up the printer and control people's lives. That seems to be what our glorious government is doing.



"You can print money all you want. You just have to do it in YOUR currency.
If the FED allowed people to just issue their own notes, then there would be no integrity of the currency, and it is just paper then."

I think ALOT of the problem IS our Money is becoming only just paper.

Whatever happened to the days when a Man could make a living for his family on his income?

Meanwhile, back at home, there was alot more time to spend being a parent, by the wife?

In this Scenario, the average "Soccer Mom" can't afford the Soccer Ball or the Gas to go to the games.

Where does this leave our Children?

I see this Government as being self serving to the Rich and the special interests, and themselves!

We have laws upon top of laws, and new ones are created all the time. Ignorance of the law is no excuse! They are laws and we are to follow them!

We also have regulations that I believe are created to be self-serving to the Governent. Why? Because they don't have enough money? I think not.

When it comes down to a society that operates and functions with Greed and Corruption being more than tolerated, we dip into an era where it's going to catch up to us. This is where we are now.

Just remember, the Constitution was written with "We the People of the United States" in mind. Our founding Fathers had a vision I believe to be God inspired.

When we trample on the Constitution, we WILL pay!

[Finnster]

Originally Posted by sikeston34m

"@Sik:

Why can't you print money? Because its not your currency. You have no authority. The $ is legal tender of the Federal Reserve. You have no more right to print $ than you do Euros, pesos, pounds, rand, rubles, or rupies etc. Printing any of those is fraud, to state the obvious."

NO SH!!!T

But we don't EVEN know what the FED has been doing. We only have a rough idea and it isn't good. To power up the printer and control people's lives. That seems to be what our glorious government is doing.



"You can print money all you want. You just have to do it in YOUR currency.
If the FED allowed people to just issue their own notes, then there would be no integrity of the currency, and it is just paper then."

I think ALOT of the problem IS our Money is becoming only just paper.

Whatever happened to the days when a Man could make a living for his family on his income?

Meanwhile, back at home, there was alot more time to spend being a parent, by the wife?

In this Scenario, the average "Soccer Mom" can't afford the Soccer Ball or the Gas to go to the games.

Where does this leave our Children?

I see this Government as being self serving to the Rich and the special interests, and themselves!

We have laws upon top of laws, and new ones are created all the time. Ignorance of the law is no excuse! They are laws and we are to follow them!

We also have regulations that I believe are created to be self-serving to the Governent. Why? Because they don't have enough money? I think not.

When it comes down to a society that operates and functions with Greed and Corruption being more than tolerated, we dip into an era where it's going to catch up to us. This is where we are now.

Just remember, the Constitution was written with "We the People of the United States" in mind. Our founding Fathers had a vision I believe to be God inspired.

When we trample on the Constitution, we WILL pay!

Sorry man, that wasn't meant to be said in a snarky way. Just a statement of the obvious to a retorical Q.

I agree with most of what you said. Life has changed dramatically. I'm 34, and its a very different America than the one my parents raised me in.

Compared to my M&D, my wife and I have to work way more hours (ie two jobs) after having to go to school much longer for way more money, we will likely pay higher taxes, see lower retirement benefits to pay off all the debt that was racking up before we really even started working.
Our house is smaller and more expensive and is falling in value, medical costs are rapidly growing, oil prices are much higher (no muscle cars for us..) and our generations wages as a whole are stagnating. That's if you are lucky to still have your job.


Its a right mess, and most of it was set-up before we even had a chance to really start voting on it, and it seems like it wouldn't have mattered anyway.

I just differ in what to do all about it. I don't want to go to the European-style system as its working even worse. I think the core of what we have works well, but has managed to get hijacked and forgotten who's interest they are working in.

As far as the Fed goes, I see alot of what they are doing as a last resort to save the economy as Congress is completely disfunctional and unable to solve even the most simple of problems. They are fairly poorly equipped to do so, but they are the only ones even trying. The idiots in Congress just barely managed to not actually default on the debt they already spent and send the country into a depression. Its sad when a "win" in Congress is only having your credit rating downgraded.