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dom1971
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Copernicus, Galileo and Gold. Part II

- Hugo Salinas Price - Plata.com

Vox, your opinions are as ugly and twisted as your avatar picture.

So long as your siting the worst examples here, lets look at Zimbabwe not so long ago. I am holding a wad of 100 trillion dollar bills that I bought on eBay for 20 bucks. That's 99.999999998% loss of value in just a few years. Clearly orders of magnitude greater than Phillip II. When confidence is lost in fiat it becomes worthless while gold has NEVER becomes worthless.

"there is no structural reason why a fiat currency requires inflation to work" Yes there is - a big one - its called the human element. Humans simply can't be trusted. The temptation for abuse is far too great. People "with the mentality of gangsters" cannot resist such a honey-pot.

China was on a paper currency long before Europe, did that "work"? Heck no. But lets look more closely at what "works". Lets say we give 1 point for every generation where a currency has provided a stable economic environment in the past 5000 years. How many points does fiat get - 0? How many points does gold get? Lots.

Hundreds of nations have been on the fiat experiment for as little as 2 generations now and NOT ONE of them has got it right. Not even Switzerland. Not one nation can maintain some semblance of stability for its currency. With all our "philosophies" of economics and the culmination of all knowledge and experience of human history at our disposal NOBODY has succeeded to make fiat "work".

What it HAS managed to do is to create more avenues for abuse of power - which in turn has often attracted the worst types of people to our leadership roles. Hence we have the mess the world is in today.

Commented 3963 days ago

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Beginning of the headline :The development of Economics and the development of Astronomy share interesting parallels. Aristarchus of Samos – the Greek island that produced Pythagoras – was born in 310 B.C. Aristarchus set Astronomy on the path that would have led to its correct development by postulating the Sun as the center of the Universe, with the Earth revolving around the Sun while revolving around its own axis; he also set the planets in the correct order of their distance from the Sun. Unfortunately, the preconcei... Read More

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