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Old 06-23-12, 12:38 PM   #15
Elder

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For those interested there's a couple of great videos recommended in one of the comments on the reddit thread on the nature if fiat currency and the second one offers some feasible alternatives to the one we use... long live the internet

Money as Debt
http://www.youtube.com/watch?v=PlxKtDOkEj4
Money as Debt II
http://www.youtube.com/watch?v=lsmbWBpnCNk&feature=related
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Old 06-23-12, 01:30 PM   #16
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Now all of us 5 year old can graduate to 6 year old! Thanks for the great read!
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Old 06-23-12, 05:16 PM   #17
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The IMF and the military figures have most of it.
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Old 06-23-12, 06:23 PM   #18
◄█▓▓▓▓▒▒▒░░▒▒▒▓▓▓▓█►

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Normally this would be a tl;dr. Luckily it was in my age range so I read the whole thing!! xP
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Old 06-23-12, 08:09 PM   #19
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Veeeerrry eenteresting! and not a bit shtupit! (God, Laugh-in was so funny)

It always amazed me that gold and diamonds were chosen, one for currency the other to display social status. Neither are particularly rare. If one doubts that simple fact, think of all the caches like Fort Knox. Add all the gold and diamonds in every jewelry store. Add to that all the gold and diamonds that people own\display. Add the caches of diamond trusts, etc. Makes for one hell of a lot of gold and diamonds!

My theory is: Gold was one of the most useless metals ever discovered. It is too soft in its pure state. It does however shine very well. Hocus Pocus, wallah...jewelry! Actually gold has finally found its purpose in the last 100 years. It is an extremely fine conductor of electricity. Not the best, but the most common best. Even when used as a catalyst it is a conductor\facilitator. Diamonds on the other hand have been the most regulated\controlled, pseudo rare\common gemstones. You have a consortium of diamond merchants that control how many to be released to the market, from where, the quality, and the value including color etc. Said consortium even convinces the world that one country's diamonds are of inferior grade than another's. Thus you have the "diamond" and the "not quite" diamond, even though both are simply diamonds.

Thanks FirtY for a great article and read. I would tip my hat but my bald head would get burned.
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Old 06-23-12, 08:32 PM   #20
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Yes, well gold and diamonds are sold at many times there "actual" worth.

I recall when I bought a ring for a gf that cost 1 grand, we broke up, she gave it back, and I could only sell it for $100.

When I originally bought it, I was assured many times, it was worth 1 grand, and what a great deal it was, and got a certificate etc..

What a load of bs...

Of course the fXXXers then melt down the gold, take out the diamond, remake it, and sell it for 1 grand again, because its "new" again.

Its absolutely criminal.
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Old 06-24-12, 12:07 AM   #21
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A great read... thanks
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Old 06-24-12, 04:07 AM   #22
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wow very interesting read, tbh I never thought to much about money, thanks for sharing
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Old 06-24-12, 10:27 PM   #23
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Quote: Originally Posted by Notorious_dog View Post
They didn't really address the question though, did they? Where has all the money gone?
It ceased to exist.
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Old 06-24-12, 11:07 PM   #24
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Great post! Thanks a lot for this.
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Old 06-25-12, 04:36 AM   #25
Elder

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Quote: Originally Posted by Noledox View Post
It ceased to exist.
More like it never physically existed in the first place
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Old 06-26-12, 12:09 AM   #26
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Quote: Originally Posted by FirtY View Post
More like it never physically existed in the first place
True, but the market behaved as if it did, and then didn't.
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Old 06-26-12, 12:58 AM   #27
Elder

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Totally absurd if you give it any real thought isn't it..
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Old 06-26-12, 01:13 AM   #28
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Quote: Originally Posted by FirtY View Post
Totally absurd if you give it any real thought isn't it..
Absolutely and completely.
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