The United States has Infinite Money! , page 1

Well, Bloomberg sure seems to believe this, anyway.

“We are spending money we don’t have,” Mr. Bloomberg explained. “It’s not like your household. In your household, people are saying, ‘Oh, you can’t spend money you don’t have.’ That is true for your household because nobody is going to lend you an infinite amount of money. When it comes to the United States federal government, people do seem willing to lend us an infinite amount of money. … Our debt is so big and so many people own it that it’s preposterous to think that they would stop selling us more. It’s the old story: If you owe the bank $50,000, you got a problem. If you owe the bank $50 million, they got a problem. And that’s a problem for the lenders. They can’t stop lending us more money.”

Source
(emphasis mine)

Is he totally insane? Does he really believe the world and public can or will simply keep adding to the finance of U.S. Government debt to infinite levels? There won't be a point where the debt pyramid collapses?

Fed and Treasury action have added a trillion PER YEAR in deficit and that came on top of the running trillion or more that has been constant since 2009. That's around 2 trillion we're running so far...IN PURE DEBT for 2013, and I'm sure I don't know all of what is being added in the debt column of spending. I'm likely low at this point. It's beyond unprecedented and just crazy town.

Bloomberg is personally worth $25 Billion Dollars so I'm sure the concerns of us little people are nowhere in his world of thinking for any practical sense. However, to suggest this debt spending is anything but catastrophically bad is just unbelievable to hear a serving elected official say, much less the Mayor of a city the size of New York.

reply to post by Wrabbit2000

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If you had a printing press, you would have infinite money too! Doesn't mean it will always be worth anything, but you can print more and more and more.....

In simple terms we are pretty much COMPLETELY

Kinda sucks more for our kids and their kids after them......It will take a good while at our pace before money is worthless, but it is coming and picking up steam every year!!

reply to post by Chrisfishenstein

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I am saying it is all a big hoax. Remember Enron. I think these big companies are just being given a value that is not based on reality. It's fake.

Reality is all relative I guess. The value of money when you use the word 'currency'? Well, it's a fiat currency base, as opposed to a gold base. That changed when Nixon took the US off the gold standard and at this point, there is no real going back



That's a data set I put together for the budget thread I did here. It shows that point well enough and Fiat most simply means perception. The whole currency is valued based on what people believe the value is. Bad thing to consider in these times.

However, when you use the term 'Cash' in reference to money, it all changes. That is what buys you and I our grocery order at the store and puts the diesel fuel in the truck that brought the food to the store in the first place.

It's easy to shrug all this off as if it means nothing because the actual numbers have become so astronomical, but it comes crashing back down to daily life level in a snap and it means everything there.

reply to post by Wrabbit2000

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This was true.

BUT

When you devalue the dollar SOO much, that they end up losing what they "couldnt" afford to lose anyways, since they have invested so heavily in the dollar, all bets are then off. They look to cut their loses and gain a head start else where.

We cant assume that since the dollar is where it is that it will be forever.

Social unrest everywhere in the world is making it harder to invest in unstable regions. Economically, the west is losing control of this game. there is too much confidence with the amount of control they THINK they can exert. Games get out of control when you get too confident with them and yourself.

I just had this conversation in real life..lol

The US is like pre-civil war Lebanon, economically.

reply to post by chadderson

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The people in the city did not make this mess. You will not be safe in the middle of a field.
Where do you think the people in the city are going to go? They will be headed your way and yes they will be looking for your food.

reply to post by KoolerKing

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You mean the city people that are clamoring for gun control and nanny state support in every conceivable way? I wouldn't give most 'city people' much for odds in the countryside where it's people's back yards. Those who would come out into the country well prepared? Well, they'd be welcome anyway and wouldn't have to be hostile about it.

reply to post by narwahl

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but there is a finite amount of it no matter how plentiful it is or may have been. As far as our ability to count and so attribute "worth" to silly numbers, the sky is the limit.

I say we can transition into an energy based economy. It is not exactly fixed, YET, it can be determined and be much more stable than "random" numbers on a digital screen somewhere that random people set according to their limited needs and concerns.

EDIT:
Any coin that can have a more predictable and less manipulatable worth would be the best option. Back it with what ever you like. A "cotton-linen blend" fine. Appraise it and count it. Then print a certain amount of bank notes and coins to reflect it, gather up as much as you can of it, and keep it as the reserve you attribute the coin´s worth to.

Even chocolate gold coins would be better than nothing. there are only a certain amount of them and there is a limit to how much of them you can make. We really arent falling for fiat money anymore.

Really we dont trust the hands that have held the reins of power over our coins to hold them still. They have failed to keep the game going due to small thinking. We dont trust them anymore.

No more fiat money. It is a scam and we better see something else offered. Or else the world will burn.

reply to post by Wrabbit2000

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It is definitely time to bring back the gold standard. Set the dollar at 1/1000th of an ounce, and only print what we can back. But wait... is the vault at Ft. Knox empty?

Of course, Obama/Sotero sees the value of the dollar as 1/500,000th of his charisma...

reply to post by tadaman

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"energy" sounds nice, but since you can't put a joule in your pocket or give it to a laborer for his work, you need some arbitrary thing to represent that joule.
And voila: You are back at fiat.Next thing you know country x will claim its tokens are for sale at 0.8 joule a piece, priming their export industry, then country y will say theirs are up for 0.7....

reply to post by narwahl

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nope. you measure production. That is your reserve. The dollar in my pocket used to represent a certain amount of gold in our reserve. Its worth wasnt based on the paper being valuable. You know this. Stop playing. You dont have to here.

Fiat is crap and obsolete. It is not capable of sustaining us any longer. Nice experiment and I am sure SOME loved it. BUT for the sake of our species, we need to go with what works.

You can store energy, you can keep production at a measurable pace. ect..

I say energy as a transition reserve.

The end result would be to reset our system to work with a fixed amount of worth to our coins. Backed by what ever is nice......and STABLE

The world currency will fail miserably without a stable worth attributed to it. All this carbon nonsense will bring out the worst in human nature by ignoring it.

Yeah yeah, some like the control it offers, but they are dinosaurs and will get us all killed.

Fiat = death of our civilization.

remember that.

No, we don't have infinite money, we have infinite CURRENCY.

The difference being that currency loses value as more and more is pumped into the system until it eventually becomes worthless, as every fiat currency in the history of the world has eventually done in the past.

Printing out infinate amounts of currency, the way Bloomberg is suggesting, is a sure way to ensure that the currency becomes worthless in no time flat.

You would think a rich guy would have a basic grasp of economic principals.

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