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 Replies: 110 / Views: 18,192 |
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Pillar of the Community
Canada
2575 Posts |
Quote:
Try to imagine a store where they don't want to put prices on the goods, or a job where the purchasing value of your salary declines by 50% every month.Hordes of people lose their savings, jobs, etc. This is well documented. Well put "oriole" It would be a "living nightmare" especially if one didn't have some kind of access to fresh food, petro, or something one could barter with. While the police and military can try to enforce 'martial law' I believe it would lead to extreme crime, corruption and lawlessness. |
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Pillar of the Community
United Kingdom
709 Posts |
@walk2dwater
That whole scenario would be a nightmare, and IS one for some people.
Society only works if the majority agree to conform to reasonable standards of behaviour. When I worked in a large town in the UK, the ratio of active officers ( not counting desk warriors ! ) to population was reduced by the 2008 financial crisis to about 1 : 10,000. With numbers like that, how can you enforce good behaviour if a significant sized group decides to cause trouble?
Any financial pressure on the population due to the economy would impact on the police and army also. Keeping them loyal would cost more money. You could try the Zimbabwean solution of printing lots more money to pay your security forces, but look where that ended up.
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Bedrock of the Community
 United States
12477 Posts |
Quote:
Yes, it is a very bad thing. Commerce becomes very difficult. Try to imagine a store where they don't want to put prices on the goods, or a job where the purchasing value of your salary declines by 50% every month.Hordes of people lose their savings, jobs, etc. Yes, I agree. However, did fiat currency help, hurt or neither? I am not speaking on a personal level, but a national policy level. When your currency has no intrinsic value whatsoever, collapse that reaches to every single citizen is possible no matter how much "cash" they have. Others see it differently, but I believe these crises are examples that need to be used/referenced to change our monetary system to something of real, intrinsic value. Fiat is a form of control, and that's where I'll leave my comments.  In Memory of Crazyb0 12-26-1951 to 7-27-2020
In Memory of Tootallious 3-31-1964 to 4-15-2020
In Memory of T-BOP 10-12-1949 to 1-19-2024
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Bedrock of the Community
United States
12817 Posts |
Edited by CelticKnot
04/30/2019 6:57 pm
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Pillar of the Community
 United States
4883 Posts |
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Pillar of the Community
Canada
2575 Posts |
-So sad. But I do like the creative design of the purse & the cool artwork on notes.
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Pillar of the Community
United States
3402 Posts |
Haven't heard much about Venezuela's currency inflation lately...still surging?
KK
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Pillar of the Community
United States
4883 Posts |
Quote:
Haven't heard much about Venezuela's currency inflation lately...still surging? The latest data I can find (for April of this year) indicates that the rate of inflation has actually backed off a bit to "only" 1.3 million percent.... See: https://tradingeconomics.com/venezu...nflation-cpiColligo ergo sum
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Pillar of the Community
United States
3402 Posts |
Wow...shades of Zimbabwe.
KK
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Pillar of the Community
United States
4883 Posts |
Quote:
Wow...shades of Zimbabwe. The difference being (as noted earlier in this thread) that the Venezuelan government's decision last year to simply drop five of the accumulating zeroes means that there won't be notes denominated in trillions of Bolivars. Colligo ergo sum
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Bedrock of the Community
United States
12817 Posts |
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Pillar of the Community
United Kingdom
901 Posts |
Interesting article, thanks for posting that CelticKnot.
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Pillar of the Community
Germany
1063 Posts |
Looks like they're not even trying much now, all notes look the same, what's the point spending money on something that'll be out of date in 3 minutes?
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Pillar of the Community
United States
3402 Posts |
Are there other more stable currencies operating underground (black market)?
KK
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Pillar of the Community
United States
4883 Posts |
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Replies: 110 / Views: 18,192 |
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Posted 04/05/2019 2:31 pm
