Category: Fiat Currency
The analysis published under this category are as follows.
Wednesday, April 06, 2011
Use the Dollar or Else / Politics / Fiat Currency
By: LewRockwell
Look up the phrase "a unique form of domestic terrorism" on a search engine and you will turn up a story about a man whom the US government is trying to cage from now until the time of his death.
And his crime? His unique form of terrorism? He minted silver and copper coins and sold them. In other words, he did what innumerable entrepreneurs from the beginning of time have done. He attempted to provide consumers with a store of value. No one was forced to buy. He met a market demand, and that’s it.
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Thursday, March 31, 2011
Geithner's Blatant Lies at the G20 Meeting; Four-Pronged Solution / Currencies / Fiat Currency
By: Mike_Shedlock
Proving that he cannot find his ass with two hands and a road map, Treasury secretary Tim Geithner says inflexible currencies are biggest monetary problem.
Read full article... Read full article...Tightly controlled exchange rate regimes are the main flaw in the international monetary system and the solution is simple, U.S. Treasury Secretary Timothy Geithner told a G20 meeting on Thursday.
Sunday, March 20, 2011
The Secret Plan For a New Global Currency / Politics / Fiat Currency
By: Ellen_Brown
The following is an excerpt of a chapter by Ellen Brown from the new book by Global Research Publishers, "The Global Economic Crisis: The Great Depression of the XXI Century."
By acting together to fulfill these pledges we will bring the world economy out of recession and prevent a crisis like this from recurring in the future. We are committed to take all necessary actions to restore the normal flow of credit through the financial system and ensure the soundness of systemically important institutions, implementing our policies in line with the agreed G20 framework for restoring lending and repairing the financial sector. We have agreed to support a general SDR allocation which will inject $250bn into the world economy and increase global liquidity.– G20 Communiqué, London, April 2, 2009
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Tuesday, March 08, 2011
Underestimating Lots of Money / Currencies / Fiat Currency
By: Richard_Daughty
According to Harper's Index, the "estimated value of Chinese household income that goes unreported is $1.4 trillion."
To put it in perspective, the follow-up item is "Portion of China's GDP this represents: 1/3."
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Wednesday, February 23, 2011
What's Behind the Currency War? / Currencies / Fiat Currency
By: MISES
Antony P. Mueller writes: In September 2010, a short time before the international financial summit of the Group of Twenty (G20) took place in South Korea, Brazilian finance minister Guido Mantega declared that the world is experiencing a "currency war" where "devaluing currencies artificially is a global strategy."
Friday, February 11, 2011
Fiat Currency World Uprising and Downfalling / Politics / Fiat Currency
By: Midas_Letter
Certain characteristics of crumbling empires are historically recurring, and pattern recognition practitioners are thus informed and so forewarned. Their discourse is labeled contrarian, hysterical, strident or radical, depending on the source of criticism, who seldom survive the subsequent reality to be told “I told you so”. Thats not the point anyway.
Friday, February 04, 2011
Food Prices Aren't Rising, Fiat Currencies Are Collapsing, Massive Monetary Inflation / Currencies / Fiat Currency
By: Jeff_Berwick
It has been a most interesting month of January. A likely presage to an interesting year to come.
In these pages we have spoken often about what will be the first real domino to fall in causing a chain reaction ending up in massive global political and financial change. Often we follow our predictions with a statement something along the lines of, “but, in actuality, the defining primary event will likely come from somewhere that no one expects”.
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Tuesday, January 18, 2011
Global Currency War: How to Keep the "Race to the Bottom" From Stealing Our Future / Currencies / Fiat Currency
By: Money_Morning
Martin Hutchinson writes:
When Brazil Finance Minister Guido Mantega recently warned of a "currency war that is turning into a trade war," he wasn't far off the mark - at least as far as Latin America is concerned.
In that region - in the last two weeks alone - at least three countries have taken steps to prevent their currencies from appreciating against the U.S. dollar.
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Sunday, January 09, 2011
The Nomadic Nature of Money / Currencies / Fiat Currency
By: Richard_Daughty
I was intrigued that a guy named David Thurtell, of Citigroup, surprisingly said, “The liquidity pumped out by central banks means that there is a lot of money sloshing around that needs to find a home.”
I was so intrigued that I was tempted to use it as the basis for my first report to the new supervisor for this quadrant of the galaxy, Karpus Klegg the Implacable, at his new office at Intergalactic Headquarters after the “palace coup” and interstellar personnel shake-up that I just found out about.
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Thursday, December 23, 2010
The Faults of Fractional Reserve Banking / Currencies / Fiat Currency
By: Thorsten_Polleit
In a November 1, 2010, blog post titled "Could the World Go Back to the Gold Standard?," Martin Wolf, the Financial Times chief economics commentator, comes to the conclusion that "we cannot and will not go back to the gold standard."
Among a number of mainstream-economics arguments leveled against the desirability and feasibility of the gold standard, Mr. Wolf puts forth a line of reasoning that can serve particularly well as a starting point for debating his position. Mr. Wolf writes,
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Friday, December 10, 2010
Can Fiat Paper Currency Bring Prosperity? / Currencies / Fiat Currency
By: Mike_Hewitt
A short description of money and historical examples where forms of which were not a good store of value ended in economic disaster.
Wednesday, December 08, 2010
U.S. Dollar and Euro, Two Flawed Currencies / Currencies / Fiat Currency
By: John_Browne
Despite America's economic problems, the US dollar has maintained its respected status the world over - and has even managed to maintain value in comparison to other currencies. It appears that the dollar will likely finish 2010 at the same levels that it started. Even today's announcement of more tax cuts and stimulus, which will guarantee widening federal deficits for years to come, could not put a dent in the dollar. The dollar's charmed life stands in strong contrast to the euro, which is currently suffering from its internal flaws and the Europeans' unfortunate recognition of reality.
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Wednesday, December 08, 2010
What Happens When Currencies Go Bust? / Currencies / Fiat Currency
By: Richard_Daughty
I was telling the doctor that I distinctly heard a popping sound inside my head when I saw that the foul Federal Reserve had created, last week alone, another $24.2 billion in Fed Credit, which was instantly turned into money when the Fed bought $24.2 billion of US government securities, and all in One Freaking Week (OFW)! It made a kind of "sizzling" sound.
Wednesday, December 01, 2010
Fiat Currencies Versus Gold: Will China and Russia Quit using the US Dollar? / Currencies / Fiat Currency
By: Bob_Chapman
The Federal Reserve’s balance sheet grew a 4th straight week to $2,328 trillion, up $31 billion in a week. In May the balance sheet was $2,333 trillion.
Holdings of government securities totaled $901.24 billion, and rose $27.62 billion. Mortgage holdings were unchanged and Agency holdings fell slightly.
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Wednesday, November 24, 2010
Bitcoin The Electronic Currency of the Future / Currencies / Fiat Currency
By: EWI
What is Bitcoin?
Cryptography expert Satoshi Nakamoto[1] has created the first completely decentralized, anonymous, electronic currency, called Bitcoin. Bitcoins are divisible digital tokens that can be exchanged across the internet or stored on disk. Bitcoin differs greatly from traditional government issued fiat currency and regulated banking in several important aspects:
Wednesday, November 24, 2010
Nouriel Roubini Academic Economist Ignores Fiat Money Failures / Currencies / Fiat Currency
By: Richard_Daughty
Unfortunately, it is not only Robert Zoellick of the World Bank that has notoriously turned against a gold standard, but The DailyBell writes about similar sentiments from Nouriel Roubini, university professor, in their article "Roubini: Here's Why a Gold Standard Won't Work."
Naturally, I can't believe my eyes! The fact is that the gold standard is the only system that HAS worked all through history, and you would think that Mr. Roubini would know that! Wow!
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Monday, November 22, 2010
Fiat Currencies in Crisis, U.S. Dollar Surpluses Conversion into Gold / Currencies / Fiat Currency
By: Bob_Chapman
Something is going on that your government does not want you to know about. Very few journalists have written about it and little or nothing has appeared in the mainstream media. The story could be one of major stories of our time.
Western powers have tried to destroy gold as a backing for currencies for many years. Presently the major media won’t touch the story and that is understandable.
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Monday, November 15, 2010
Currency Wars, Devaluations Have Real Effects / Currencies / Fiat Currency
By: Robert_Murphy
When my book on the Great Depression came out — shortly after Obama's inauguration — I told radio interviewers that our current economic crisis was the start of the Second Great Depression. The Federal Reserve and the government implemented the same types of policies after the housing crash as they did in the 1930s after the stock-market crash.
Wednesday, November 10, 2010
Is China's Renminbi Already The New World Reserve Currency? / Currencies / Fiat Currency
By: Global_Research
Tyler Durden writes: With the dollar tumbling overnight, many were scratching their heads as to what caused the move in the dollar. Citi's Stephen Englander provides a useful explanation, which fits perfectly with the commentary from PBoC advisor Li's earlier that the dollar's position as a reserve currency is now "absurd": namely that more and more in the world are starting to look at the CNY as the new reserve currency. And as we pointed out earlier, its fixing surge of over 0.5% overnight caused many to blink. Is China finally pushing to aggressively force the dollar out?
Wednesday, November 03, 2010
More Real Bill Fallacies / Currencies / Fiat Currency
By: Professor_Emeritus
In the first article of my two-part series on the Real Bills Doctrine (RBD), in commenting on the Daily Bell's interview with Professor Lawrence H. White on October 10, 2010, I made the central point that the source of commercial credit is not saving but consumption. The following example will dramatize this point. Assume for the sake of argument that all banks in the whole wide world succumb to the sudden death syndrome simultaneously. What does this mean in terms of the production and distribution of consumer goods? Would we have to go back and start from scratch to save in order to replenish society's circulating capital? Saving is a time-consuming process and people have to get fed, clad, shod, and sheltered in the meantime. We could not restore circulating capital through saving for the simple reason that before we could we would die of starvation.