Wednesday, 25 April 2012 18:51

What Happens When All The Money Vanishes Into Thin Air?

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"I have been waiting patiently for people to come to the understanding that the only way for everyone to get their money would be to destroy its value completely, meaning that a loaf of bread would be a million dollars. If a small fraction of what has to be printed to keep the system afloat has caused the price spikes in energy and everything else, imagine what happens as the disintegration picks up speed."...

"Here is the primary point: issuing debt and printing money do not create wealth. All they can create is a temporary illusion of wealth...

"But then a wise-guy (i.e. the "central banker" on the island) realizes that if he prints another 100 quatloos, he and his buddies can buy up all the coconuts and fish without having created any real goods in the real world: the abstraction is used to con people out of their real coconuts."

If you've been visiting these pages for a while, you know the answer:  Barter. - Jenna Orkin

-- I urge you to read all of this. It may require all the courage you have to read it carefully but it will take you to the heart of the issue that is tearing the world apart. -- MCR

Zero Hedge article

 

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