national debt jumps almost $700 billion in ONE MONTH

[maladroit]

"Care to cut and run around these statements? "

- YES! there are more kinds of ink and paper than treasury notes...mortgage backed securities for instance...but i can see how my wording caused that confusion so i apologize for my lack of depth

[GoldenBoy812]

Who cares about LIBOR?

Off the record, the bailout's intention is to lower LIBOR. Banks who are not super deleveraging due to margin calls (stable banks) care. This is the root of the credit crunch...

Its just the interest the crooks charge each other for interbank loans. If the banks weren't run by idiots there would be no reason to even have LIBOR.

It is a form of transparency, that allows open competition of the credit markets.

Our monetary system is like our tax system. There are no experts because nobody understands the regulations. The regs just create new cubby holes where the crooks running our country can pickup a couple extra bucks. Both our tax system and our monetary system needs to be tanked and start over gain. There is nothing about either system that is worth trying to fix because its too corrupt. The fox is guarding the hen house.

:wtf: Tanked? No, that would cause world wide despair. Transitioned would be a more appropriate measure because it allows change without the panic and what it brings to humanity...

[JakeMartinez]

GoldenBoy, are you happy with the current system or not? I can never tell (no, I'm not being condescending).

National debt is unavoidable. In a fractional reserve system, money is created out of debt. It's the most ludicrous thing I've ever heard of, creating something of value out of a liability. I just wonder why we've adopted it, then, and why in 200 years we haven't found something better.

Oh...Without a sudden, violent (as in abrupt, not bloody) change, I don't think we'll ever escape it because our current monetary system allows and even promotes corruption.

[GoldenBoy812]

GoldenBoy, are you happy with the current system or not? I can never tell (no, I'm not being condescending).

National debt is unavoidable. In a fractional reserve system, money is created out of debt. It's the most ludicrous thing I've ever heard of, creating something of value out of a liability. I just wonder why we've adopted it, then, and why in 200 years we haven't found something better.

Oh...Without a sudden, violent (as in abrupt, not bloody) change, I don't think we'll ever escape it because our current monetary system allows and even promotes corruption.

Of course i am not happy with the current system. Yet i am not one to think it inherently logical to ignore the aspects of the world because i do not agree with them. Try not to think of it as a zero sum game...

IMHO, a fractional reserve system and debt wealth creation is perfectly logical and a fine tool to use in financial systems IF it is allowed to operate on the principles of the market. Make FRB's compete against full reserve banks, and have a transparent free market dictated rate of interest.

I believe in our lifetime, we will see such measures... Im 25 though, so keep that in mind too:jointsmile:

[JakeMartinez]

Of course i am not happy with the current system. Yet i am not one to think it inherently logical to ignore the aspects of the world because i do not agree with them. Try not to think of it as a zero sum game...

IMHO, a fractional reserve system and debt wealth creation is perfectly logical and a fine tool to use in financial systems IF it is allowed to operate on the principles of the market. Make FRB's compete against full reserve banks, and have a transparent free market dictated rate of interest.

I believe in our lifetime, we will see such measures... Im 25 though, so keep that in mind too:jointsmile:

I'm 18 so we're in the same boat here.

Personally, I think money is an outdated idea that is no longer needed. We have the resources and the technology to make the world a much better place than it is now, but that could take hundreds of years just until someone figures out how to turn a profit on it.

I think it's disgusting, what money does to people...

[GoldenBoy812]

Personally, I think money is an outdated idea that is no longer needed. We have the resources and the technology to make the world a much better place than it is now, but that could take hundreds of years just until someone figures out how to turn a profit on it.

Money is definitely need, it is a medium of exchange. Otherwise, how will you go about obtaining something you want or need? A system based on bartering leads to suffering. Look at the Wiemar Republic as a good reference. Then think about what it can lead to.

The problem is, money has become more than a medium of exchange. The ability to inflate it is a source of government/ systematic control.

[GoldenBoy812]

Personally, I think money is an outdated idea that is no longer needed. We have the resources and the technology to make the world a much better place than it is now, but that could take hundreds of years just until someone figures out how to turn a profit on it.

Money is definitely need, it is a medium of exchange. Otherwise, how will you go about obtaining something you want or need? A system based on bartering leads to suffering. Look at the Wiemar Republic as a good reference. Then think about what it can lead to.

The problem is, money has become more than a medium of exchange. The ability to inflate it is a source of government/ systematic control.

You cannot have utter collapse of economies, as very ambitious people with malcontent will be lining up (with a highly probable success rate) to exploit for control.