Skip to comments.End of the Road: How Money Became Worthless
Posted on 09/21/2012 10:28:28 AM PDT by Lorianne
Wall street is being occupied. Europe is collapsing in on itself. Around the world, people are consumed by fear and anger, and one question is on everyones lips: Is the financial crisis over, or are we headed towards economic disaster?
End of the Road is a 55 minute documentary film that chronicles the global financial collapse. Told in an entertaining and easy to follow style, the film tells the story of how the world came to be in such a state, from the seeds sown after WWII, to the current troubles facing us today, and to the possible future that may await us all. Some of the worlds top economic minds share the hidden tale behind the mishandling of the worlds finances, give insight into how bad policy and a flawed monetary system joined together to create a catastrophe.
End of the Road portrays eleven influential commentators within the finance and investment communities, as they share their knowledge of our current financial structure. Through each of their narratives, a story is built which chronicles the current economic dilemma and paints a picture of the worlds financial future.
Cast Peter Schiff Eric Sprott James Turk Bill Murphy Alasdair Macleod Jim Puplava G Edward Griffin
Mike Maloney James G Rickards Adam Fergusson Dimitri Speck
It explains the relationship between the US Treasury, Federal Reserve, and bond buyers with animated cartoons. It also explains the difference between money and currency, how fiat currency is theft, and how & why fiat currencies have a 100% failure rate.
I think the important thing is to keep perspective, that money never really had value in the first place, that it has always been just a token to indicate mutual agreement on the value of other things.
More to the point are the other things, like abundance and shortage, needs and wants, production and provision and actual commerce. If you have everything else, a particular kind of money is unimportant.
Trade deficits caused debts. The population of a country lacking in exports (not selling enough) will buy less.
Currency is only a tool for exchanging useful things. A currency that is not based on enough useful things will be worth less.
The nation that can produce useful things, if that country can manage such things and be nationalistic enough to get cooperation from its population, will prevail.
They create/’print’ our currency out of thin air, and charge us interest for using it!
So, what you’re saying is: At this point in time it is good to be rich in things and poor in currency?
Capital rich. Cash poor.
Caught it on the documentary channel the other night. I was shocked to see it to be honest. It convinced me to invest in precious metals. Lead mainly!
I think this time it will be somewhat different, because actual cash currency is at a premium—there is far too little of it in our country, only 5% of our daily need, and most of that in $1 bills. And the USG *cannot* print real money faster, or in higher denominations.
However, virtual money, “called” dollars, is just numbers on computers. It can be hopelessly hyperinflated, or frozen by the government or the banks. Manipulated terribly.
But because of the shortage of currency, which is legal tender—virtual money is not, there might be a weird phenomenon called a “currency split”, where virtual money is worthless, but physical money is suddenly worth 20 times its face value or more.
That is, if the retailers shun virtual money and demand cash, virtual money becomes fairly worthless. And they can do this, because of the status of legal tender.
And all sorts of things could precipitate this.