QUOTE(GoldChan @ Jul 6 2011, 10:38 AM)
true. B4 the industrial age, most of the things does not yield any interest. Interest is forbidden in religion.
Then come in the banker who introduces the notion of giving interest.
Giving interest will lead to exponential growth which can only be supported via exponential use of resources.
but resources are limited, thus interest cannot grow that far if it's implemented properly and honestly.
If it goes too far, then it is not interest but inflation via the printing press.
Thus, 4 me, I will trust 5000 yrs old monetary system which is gold & silver rather than government.
B4 the creation of Federal Reserve 1914, the price of most item remain the same for 200 years in United State.
1 oz of gold is about USD20/- and remain more or less the same for 200 years with exception during the civil war.
House price remain the same for 200 years. If gold standard is followed, there is no inflation.
Why now house prices go up like nobody business, where all the money came from?
cool Then come in the banker who introduces the notion of giving interest.
Giving interest will lead to exponential growth which can only be supported via exponential use of resources.
but resources are limited, thus interest cannot grow that far if it's implemented properly and honestly.
If it goes too far, then it is not interest but inflation via the printing press.
Thus, 4 me, I will trust 5000 yrs old monetary system which is gold & silver rather than government.
B4 the creation of Federal Reserve 1914, the price of most item remain the same for 200 years in United State.
1 oz of gold is about USD20/- and remain more or less the same for 200 years with exception during the civil war.
House price remain the same for 200 years. If gold standard is followed, there is no inflation.
Why now house prices go up like nobody business, where all the money came from?
btw, old question again.
does any1 know what is the different with 99.99% and 999.9 ?
or both are having same value to each other.
p/s Mxxbank(999.9) & Pxxxxxbank(99.99%)
Jul 6 2011, 01:21 PM

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