Eliminate money and what is the outcome? (Page 2)

Znthnk
Znthnk: My point is that since money is an abstraction, we can innovate, improve on it under current conditions. People are trying it with bitcoin. Alot of value of money is speculation not as a medium of tranaction. Not only that it is subject to manipulation by central banks.
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Znthnk
Znthnk: Excellent documentary: Money as Debt

Do a google search, it's viewable online... highly recommend it, can't post the url here.

Edit: I shrunk the link: http://tinyurl.com/67fy6vv
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Comrade_
Comrade_: You acknowledge that both silver, gold and paper dollars are all worthless but only have perceived value, yes I agree. But paper dollars served a purpose, I disagree with what the Fed is doing and there will be repercussions for that. But also remember that this perceived value is important still that is why I go to work, that is why everyone labours, not just for bartering for food.
If the choice was between gold, silver or paper dollars: which would fit better to our era? How would the gold be dispersed into the public? Which are the countries who will have gold/silver? What would happen to countries that don't have gold/silver? How would gold/silver be transported? and at what rate?
Paper money is faster, lighter and easier to make (don't forget they have special markings too)
Sometimes "Limited" isn't such a good thing as well as "Unlimited"
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LiptonCambell
LiptonCambell: >>>Barely recall "the LOVE of money is root of all evil"

No, I simply believe the use of money has intense value- the reasons appear in the speech, which Rand could describe far better than I.

And I absolutely agree that money should have a physical value...
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DysGeusia
DysGeusia: in this day and age without money the world might be lost.....for there r many who r not capable of living without it..yes there is the barter system but really do u think that everyone can really go back to doing this??
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introspec
introspec: "Once more into the breach, dear friends, once more into the breach"..K Henry
Cave, good buddy, am glad you acknowledge that paper or any kind of money has value, even if perceived.
Money NOT backed with hard value ( eg, gold or silver cerificates) can be traded freely only in a CLOSED economy. Believe Canada and Gt Britain set hard limits on amt taken OUT of country......Other countries awash in paper money probably also do...
USA'a present fiscal policy, one sheet in the wind, is PRINTING paper money to cover mounting govt debt. Working citizens, not total fools, know that the money they are paid buy only a fraction of its previous worth in goods...think food, clothing, shelter. That's inflation.
Goods USA buys from OUTSIDE of country must be paid for in GOODS....not just paper money.....(tho, China is buying our country cheaply)
Obviously, we cannot trade in fractions of silver or gold, thus paper, BUT, there must be brakes set on govt's ever mounting debt.
We, citizens, should be howling like hell...
And, cast out the pols who are driving us into squalor.....
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GreatGrammy
GreatGrammy: Money is not the root of evil, though greed may be. Money is just a tool, like a hammer. If a guy hammering nails hits his thumb hard enough, he may believe that hammers are evil--but how would you build a house without it?
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Comrade_
Comrade_: Yes, the fall of the Rai, the past currency of Yap is a good example.
Easy producing a currency vs Leaving it rare & limiting the amount.
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XFixYourBrainX
XFixYourBrainX: What if the government stopped printing money for the next 5 years.
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pippygirl
pippygirl: Bartering!
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StuckInTheSixties
StuckInTheSixties: "What if the government stopped printing money for the next 5 years."

A lot of paper money would physically become tattered and worn out and the usage of Scotch tape would increase.
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XFixYourBrainX
XFixYourBrainX: What if the government stopped printing money for the next 5 years?


Would inflation occur? Would prices go up or down? Would wages increase or stay the same?

I try not to be specific, but around sixties you almost have to be specific or he will turn into a clown.
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LiptonCambell
LiptonCambell: >>>Bartering!

Then whats the point?

>>>Would inflation occur? Would prices go up or down? Would wages increase or stay the same?

The value of money would alter depending on how much there is, yes. But the vast majority of money exists digitally, so that would be a moot point.

My guess is that eventually the money would degrade, and either people would stop accepting money thats too degraded, thus you'd actually lose money, or the banks would lose money, go bankrupt again, and a mass number of people would lose their money.
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StuckInTheSixties
StuckInTheSixties: It's somewhat of a fantasy hypothesis ... there's no reason that the government would simply stop making currency because ... well ... there's no logical reason for doing so, and there's innumerable reasons NOT to do so. But going with the fantasy hypothesis, perhaps coins, being durable, would gain in value. It would probably be hell on the slot-machine business (and other coin-operated businesses) as coins were hoarded.

Perhaps smaller social groups (States? Counties? Cities?) would advent with their own currencies, kind of like the "scrip" that often is used in places where a large-scale war has put a government out of business.
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XFixYourBrainX
XFixYourBrainX: The point is sparking conversation and more questions about what if this happened or that happened?

I'm talking about a what if situation, its logical because it will never happen. But you can never get rid of the, "what if scenario."
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LiptonCambell
LiptonCambell: Long term, private currencies would certainly arise. I have a vague memory from history class something about how there were numerous private currencies in the past, the Hudson Bay Company comes to mind...
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StuckInTheSixties
StuckInTheSixties: I think that would be likely. But there would be one difficulty I can see. Given today's technology, producing counterfeit currency in those circumstances would be pretty easy, and detecting it would be tough. The technology was far different in the time of the Hudson Bay Company.
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XFixYourBrainX
XFixYourBrainX: There was a private currency company in my city open for almost a year. The money was backed by gold and silver bullion. And was estimated to be worth more than the American dollar. The FBI found out about this company. They came in and raided everything and took all the notes
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StuckInTheSixties
StuckInTheSixties: What city is that?
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XFixYourBrainX
XFixYourBrainX: Evansville, Indiana, USA
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Comrade_
Comrade_: If a country will stop printing money for 5 years, I'm not sure of the outcome but I'm guessing it will differ from country to country. With a specific look at the US Fed, if they stop printing money for 5 years then would be interesting.
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LiptonCambell
LiptonCambell: Like whats been already been said; the majority of money exists digitally.

Which means that, if the printing presses stopped working, the nothing would really change....
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younlee
younlee: Lipton if the printing presses stopped working what would you have in your wallet?? I agree money is basically bytes on a screen but it still has a physical presence..like sits said it will fall apart, held together by gaffa tape..no 'actual' money in peoples pockets would result in chaos!!!! Riots on the streets...maybe your fabled looters and moochers would take over!! haahaha
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LiptonCambell
LiptonCambell: Lol whose to say they haven't already?

I know you yanks don't always have it, but at least in my region of Canada, a system we call either "Debit" or "Interac" is avaliable at most stores- basically, its a direct digital connection to your bank to pay at the register- so you don't need money in your pocket- you just need your bankcard, and digital money is transfered from one bank account to another....
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StuckInTheSixties
StuckInTheSixties: Coins would be hoarded.
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