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**datingcrew** · 09-05-2012, 07:47 PM

I was referring to creating a monetary system that doesn't repeat the mistakes of past ones.

That would seem to be one based upon gold or silver or some other substance wouldn't it? Didn't that exist for upwards of 70 years in the early days of the U.S. Why do you see the need to re-invent something that already existed and worked well for so many years?

At the time the U.S. introduced fiat they had the experience of the French following their revolution to draw intelligence from. Despite this solid example of a fiat system failure they opted to introduce fiat. Just because fiat was "re-invented" does not force anyone to make use of it. You volunteer for that. Your choice.

Whatever currency system that gets invented or re-invented ... it is always going to be your choice whether you make use of it or not.

What is the point of a debt jubilee if we just start over doing the same thing again?

Debt works for some people. Having survived the farm crisis of '82 with no debt I can tell you that the ones who had sufficient debt had much of it written off. About 10 years later attending a farm auction an acquaintance who worked for the farm oversite agency was complaining to me that the same farmers who had gotten their debt written off were back doing the same thing that got them in trouble during the farm crisis. My observation ... "If it worked out well for them one time why wouldn't they be in doing it again?"

09-05-2012, 07:47 PM	#11
datingcrew Join Date Oct 2005 Posts 380 Senior Member	I was referring to creating a monetary system that doesn't repeat the mistakes of past ones. That would seem to be one based upon gold or silver or some other substance wouldn't it? Didn't that exist for upwards of 70 years in the early days of the U.S. Why do you see the need to re-invent something that already existed and worked well for so many years? At the time the U.S. introduced fiat they had the experience of the French following their revolution to draw intelligence from. Despite this solid example of a fiat system failure they opted to introduce fiat. Just because fiat was "re-invented" does not force anyone to make use of it. You volunteer for that. Your choice. Whatever currency system that gets invented or re-invented ... it is always going to be your choice whether you make use of it or not. What is the point of a debt jubilee if we just start over doing the same thing again? Debt works for some people. Having survived the farm crisis of '82 with no debt I can tell you that the ones who had sufficient debt had much of it written off. About 10 years later attending a farm auction an acquaintance who worked for the farm oversite agency was complaining to me that the same farmers who had gotten their debt written off were back doing the same thing that got them in trouble during the farm crisis. My observation ... "If it worked out well for them one time why wouldn't they be in doing it again?"
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