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Real Time Coverage of the Fiscal Cliff

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posted on Dec, 13 2012 @ 10:50 AM
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news.google.com...

Are we this bored? Google is now carrying real time coverage as the fiscal cliff approaches. Who are we kidding? They will just print more money or rather add it to the computers and continue. Are we really being fooled by the smoke and mirrors. They make it out like this is like the Cuban Missile Crisis of the financial world.
edit on 13-12-2012 by winterkill because: spelling




posted on Dec, 13 2012 @ 11:03 AM
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reply to post by winterkill
 


creating more money can only prop up the illusion of prosperity for so long a fiscal cliff is an inevitability if not now then soon the time is coming where not much can be done to even delay it any further
and no this is not like the cuban missile crisis this is a real and serious problem that doesnt just have a possibility of occurring but is a mathematical certainty
edit on 13-12-2012 by sirhumperdink because: (no reason given)



posted on Dec, 13 2012 @ 11:25 AM
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My feeling is that we passed the fiscal cliff about 8 trillion ago and are fast approaching the sudden stop at the bottom.



posted on Dec, 13 2012 @ 11:27 AM
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Such are the joys of living with a fiat currency. All value is perception, since nothing physical stands behind money since Nixon took the U.S. off the Gold standard and ended America's fiscal future for all that mattered.

So..It's a hell of a way to run a nation, but when perceptions falter in a widespread way? The house of cards starts to lose balance. When perceptions fall apart? We crash overnight and it's over. Look to the politicians, I say. Every last one of them had a hand in what we're about to suffer together.



posted on Dec, 13 2012 @ 11:50 AM
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reply to post by Wrabbit2000
 


perception does play a role but only to a point
if the amount of money in circulation is higher its going to have less value regardless of how people perceive it simply because that increase is not matched by actual capital so even if people were to perceive it as having a higher value and make purchases with it there will be an excess of money by the time all things able to be purchased have been purchased and this excess can have no value because it has no power to buy

so if i have $10 and i perceive it as being worth x amount of gold and merchants have 1/2x amount of gold im still going to have five dollars but it has no ability to purchase more gold (same concept for any kind of commerce)



posted on Dec, 13 2012 @ 10:31 PM
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expect gold to drop if everything tanks to about $700 but watch its buying power go way up.




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