Quote:
|
Originally Posted by Mavdog
what incredible support you voice for the william jennings bryanesque position of ron paul.
hey, come on into the 21st century, the waters fine....  |
alex's really quick review of monetary history....
fiat currencies fail, badly, usually within one hundred years of iinception;
silver and gold have been reliable monies for a few thousand years.
Hey Mavdog, come into the AD's, the waters are very fine.
------------------------
seriously, tho.....
1) it's much easier to print a new dollar than to take a dollar from the hands of someone who has earned the dollar; therefore,
2) governments (throughout history) have been overwhelmingly inclined to debase* their currency by printing more and more of it to pay mounting debts; accordingly,
3) one day the government prints so much of it that people start to get the idea that the currency is worthless; which leads to....
4) all sorts of very bad things.
This is a process that has repeated itself too many times in history to ignore.
cheers
*actually, printing isn't the only way to debase a currency, and it doesn't just happen to fiat currencies. Mixing some cheaper metal into gold and silver was the preferred method for the Romans, among others. Fiat currencies are just much easier to debase to the point of worthlessness.