40th anniversary of fiat currency

Discussion in 'Currencies' started by Blockhead, Aug 15, 2011.

  1. Blockhead

    Blockhead Active Member

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    Story covering it on [del]youtube[/del] zerohedge, today is the 40th anniversary to the day of Nixon ditching the gold standard. From memory, 40 years was the limit for all fiat currencies in history according to Mike Maloney's book? Can't be much road left for the can to be kicked down now.

    [youtube]http://www.youtube.com/watch?v=iRzr1QU6K1o[/youtube]
     
  2. goldpelican

    goldpelican Administrator Staff Member

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  3. Blockhead

    Blockhead Active Member

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    ahh, i hadn't gotten around to that thread yet, just assumed off the title it was a gold heist, delete, lock, duplicate, clown, go off topic whatever. :)
     
  4. Trichter

    Trichter Member

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    Not far, indeed. But still much more than many suspect I'd wager.
     
  5. Blockhead

    Blockhead Active Member

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    i remember when i first started learning about fractional reserve banking, around 2007/8 and then around early 2010 i got much more interested in it all, thinking how everything must be on the verge of complete failure. Then seeing silver take off at the end of last year and seeing the first news stories about BRICS doing trades without using the USD, and being really concerned, thinking, this is it, it's all going down. But then QE2 ended and nothing happened for 4 weeks, then they just dragged out that whole debt ceiiing nonsense, and things are still just dragging along. It feels at times like the modern world is just so completely narcotised to how evil and corrupt the machinery of economy is that they could drag things along for another 40 years somehow and nobody would notice as long as they keep finding a new Masterchef and some bogeyman in the middle east to throw bombs at.
     

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