How Will The American Economy Die?

Discussion in 'Economy' started by Hugidwyn, Feb 23, 2012.

  1. Hugidwyn
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    Hugidwyn Member

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    How Will The American Economy Die?
    by Russell D. Longcore

    First, the money goes.

    The world economic system is built upon two things: (1) fractional reserve banking and (2) fiat money. There is not one nation on earth that has a commodity-based money and currency. Keynesian economics, taught in nearly every college Econ curriculum, is so ubiquitous…so ingrained…that it is like the dye colors in your shirt. No amount of washing gets the dye out.

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  2. Truthmatters
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    what an insane snooze fest
     
  3. Toddsterpatriot
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    Is there a banker on earth that does not use fractional reserve banking? Money is created out of thin air and pumped into the world economy. It would be impossible without fiat currency…the currency considered to be money because some government says that it is.

    There was fractional reserve banking while we backed our money with gold and silver.
     
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  4. Hugidwyn
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    The American Dollar has purchasing power…value…now because the world uses it. And the nation with world reserve currency status that is inflating its money will continue to pay its debts with fiat currency, which is losing more and more value. Once an unknown number of nations stop…or even just slow down…using the Dollar for international trade, the value of the Dollar will evaporate. I say “unknown” because it’s not just the number of nations that is important. It is the economic might of the nations that stop using the Dollar. If the BRIC nations…Brazil, Russia, India and China…arguably the four strongest non-USA world economies...continue the process of weaning themselves off the Dollar, it will have drastic and sudden repercussions for the Dollar.

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