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Does fractional reserve banking lead to a cycle of perpetual debt?

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Author Topic:   Does fractional reserve banking lead to a cycle of perpetual debt?
ringo
Member (Idle past 443 days)
Posts: 20940
From: frozen wasteland
Joined: 03-23-2005

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Message 5 of 56 (789869)
08-21-2016 2:29 PM 		Reply to: Message 3 by Phat
08-21-2016 3:15 AM

Re: Hold On! The Globalists Want Your Money!
Phat writes:
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--what good does it do in a depression to be the only guy on the block with gold stashed away when everybody else has guns?
I read somewhere that in a post-apocalyptic world the three most important things to have would be a bicycle, canned sardines and gold coins. Presumably, you could use the gold coins to buy more sardines from somebody who valued them less than gold.
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 Message 3 by Phat, posted 08-21-2016 3:15 AM Phat has replied
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ringo
Member (Idle past 443 days)
Posts: 20940
From: frozen wasteland
Joined: 03-23-2005

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Message 12 of 56 (789926)
08-22-2016 11:37 AM 		Reply to: Message 7 by Phat
08-21-2016 9:40 PM

Re: Hold On! The Globalists Want Your Money!
Phat writes:
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If there were food shortages, the gold wouldn't work very well.
Gold will have value as long as anybody thinks it has value. You'd see misers starving to death on a bed of money.
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Phat writes:
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Much of the question of survival in such a scenario hinges on the inner Spirit of the people. Would they want to help each other or would they want to tear each other apart?
Yes, most of our problems are caused by us.
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