poltiregist
A True Doomsday Prepper
---- The End
My hope is many countries come out with value backed currencies. They would be backed by gold, oil, coal, rubber or anything or a combination of valuable things. This keeps the books (issuing country printed value) honest.
Jim, I have pondered that question too.Question: Why must a business owner grow his business 3% every year or he would be considered a failure?
To rephrase that question, why must a business owner, who has a successful business model running now,
But Jim!
The purchasing power of money should be stable. Unfortunately, valuable things like gold, oil, coal, and rubber can't be stable since their values fluctuate with changing supply and demand.
That's why Nobel prize winning Yale economist Robert Shiller wants to introduce an indexed unit of account into the economy to eliminate inflation.
Using an indexed unit of account, called the Unidad de Fomento, the Central Bank of Chile has successfully maintained low inflation rates since 1998.
That ain't bad.
The value of gold does not fluctuate. The currencies is what fluctuates in trade value.
That is a natural cycle which over time, corrects itself naturally. Yes, there is some pain. It sucks. That's life.Gold is valuable because it is rare. If a super ginormous deposit of gold is discovered tomorrow, gold would become less rare and therefore less valuable.
The California Gold Rush expanded the money supply and caused inflation. Soaring gold output from the California gold rush is linked with a thirty percent increase in wholesale prices between 1850 and 1855.
California Gold Rush
Inflation is in effect a "poor tax" because it saps the wealth of low income people to a disproportionate degree.
Only if their income increases to match the inflation, which often is not the case, especially when they have to retire while still in debt. Fortunately I paid off my house before I was forced into retirement and had no other debts.It's true the savings of low income people decreases in value because of the increase in money supply, but low income people also tend to be in debt and inflation is good for debtors. Inflation makes their debt worth less. That can be good for people with car payments, mortgages, student loans etc. because it makes paying off the debt easier.
What is it you stand for; want; preferred system we use?
There was already a one-world currency at that time, silver and gold, so no it wasn't predicting what already existed.Doesn't the Bible prophesy a one-world currency?
Isn't there some sort of mark that will be required in order to buy and sell?
There was already a one-world currency at that time, silver and gold, so no it wasn't predicting what already existed.
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