DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - Utah House stamps gold, silver as legal tender

**VipInoLo** · 02-14-2012, 06:18 PM

Hmm, a couple of points I think Dr. Vieira misses:

1. Transparency.
Without transparency in the banking industry, fraud will occur and soon after rampant fraud. Being digital without hardcore implementation of transparency will lead to disaster, IMO.

2. Credit
He does not deal with the primary reason in favor of fiat currency - easy issuance of credit. If the US/World moves to a (any) metal standard and does not fundamentally change the issuance of credit, the general economy will be doomed into slow growth.

I'd like to add that the general economy will only be doomed to slow growth until all the excess debt is taken care of. Once the economy is no longer burdened with excess debt, the economy will enjoy real and prosperous growth, not fake growth fueled by fake credit.

02-14-2012, 06:18 PM	#1
VipInoLo Join Date Oct 2005 Posts 568 Senior Member	Hmm, a couple of points I think Dr. Vieira misses: 1. Transparency. Without transparency in the banking industry, fraud will occur and soon after rampant fraud. Being digital without hardcore implementation of transparency will lead to disaster, IMO. 2. Credit He does not deal with the primary reason in favor of fiat currency - easy issuance of credit. If the US/World moves to a (any) metal standard and does not fundamentally change the issuance of credit, the general economy will be doomed into slow growth. I'd like to add that the general economy will only be doomed to slow growth until all the excess debt is taken care of. Once the economy is no longer burdened with excess debt, the economy will enjoy real and prosperous growth, not fake growth fueled by fake credit.
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