End of the Road - How Money Became Worthless

[ready4ONE 5,400]

awww, the poor uneducated economic sheep keep speaking in here. How cute.

That's ok, when the rest of the country goes to pure ####### and you're stuck with nothing, HAVE A NICE DAY!

Explain charging money for a video alleging money is worthless.

Waiting...

Waiting...

Still waiting....

[Obama 2012 1,714]

Explain charging money for a video alleging money is worthless.

Waiting...

Waiting...

Still waiting....

Currency might be the current way that most of society does business, but you're in for a rude awakening the moment people stop investing in and buying dollars. It's a market force and something that has been made worthless in the last century.

It's real easy to sit there and be like "uhh look ma we can buy mac n cheez at da store for $0.99 a box and eat real good" and then when that box of Macaroni ends up being $1.75/box, $2.50/box you're left scratching your head as to what the hell happened, especially when your wage stays exactly the same. You take that box of Macaroni now apply the same price hikes on everything else you buy at the store and you're in a world of pain.

People are so damn ignorant and think that inflation is simple prices going up. That's not what it is at all, it's a devaluation of currency and it's extremely dangerous when the only thing that gives that currency any value at all is the word of government. There's nothing behind it. It's just paper, it's just extra zeros on a balance sheet. When you add too many zeros and people don't want your currency anymore or when the rest of the world decides that the dollar is no longer the reserve currency, then you're going to see inflation like you've never seen before.

A fiat monetary system cannot survive. It will fail. It always has.

[JohnR! 5,495]

"Money" doesn't exist in today's economy as this film rightfully points out.

Soylent Green is people, a movie once pointed out, ergo, it must be true...

[JohnR! 5,495]

Currency might be the current way that most of society does business, but you're in for a rude awakening the moment people stop investing in and buying dollars.

It is the way the financial market works. You really did not need to waste money - which, albeit worthless and non-existent, I am sure the producers welcome - to understand how that works and the risks associated with it.

They just as well make a movie about how rivers run downstream and include it in the series of works to placate gullible people, alongside with the movie you posted.

[lostinblue 1,989]

“FOR these ten marks I sold my virtue,” were the words a Berliner noticed written on a banknote in 1923. He was buying a box of matches, all the note was worth by then. That was in the early days. By November 5th, a loaf of bread cost 140 billion marks. Workers were paid twice a day, and given half-hour breaks to rush to the shops with their satchels, suitcases or wheelbarrow, to buy something, anything, before their paper money halved in value yet again. By mid-November, when a new currency was issued, prices had added twelve noughts since the first world war began in 1914.

http://www.economist.com/node/347363

Currencies have collapsed, and inflation turned hyper-, in other places: in Shanghai awaiting Maoist takeover in 1949, in Argentina in 1989, when, in July alone, prices rose 197%. But Germany's was the most spectacular bout of inflation ever to hit an advanced economy; and none has had more awful results. It was not the main reason for Hitler's rise, but it was as the leader of a failed mini-coup during the crisis that most Germans first heard of him. And the anger of those who had lost their all fed Nazism's growth.

The origins of the hyperinflation lay in the war, and the readiness of Germany's legislature to let the authorities suspend the individual's right to convert banknotes into gold. The central bank was also authorised to use government and commercial paper as part of the reserves it was required to hold against newly issued notes. This freed the government to finance the war by running the printing presses, with the usual effect: prices rose. By the end of 1918 the mark had fallen more than 50% against the dollar.

[lostinblue 1,989]

Hyperinflation hurts the poor, the elderly and those on fixed incomes the worst. The following is an excerpt from a work by Adam Fergusson....

The rentier classes who depended on savings or pensions, and anyone on a fixed income, were soon in penury, their possessions sold. Barter often took over from purchase. By law rents could not be raised, which allowed employers to pay low wages and impoverished landlords in a country where renting was the norm. The professional classes -- lawyers, doctors, scientists, professors -- found little demand for their services. In due course, the trade unions, no longer able to strike for higher wages (often uncertain what to ask for, so fast became the mark's fall from day to day), went to the wall, too.

[mawilson 2,133]

You mean a Pfennig? Now there's worthless money. That's not what Paul wants to send me, though. He wants to send me his worthless dollars.

How about old Soviet Rubles?

[Ban Hammer 13,343]

Not to be picky. I mean, I like the worthless stuff that jingles but I'd prefer the worthless green kind that folds.

i'll have to look, i might have a 1, 2, or 5 mark bill.

[Mr. Big Dog 10,747]

How about old Soviet Rubles?

I thought some folks here were arguing that the dollar has become worthless. I want to help and take that worthless burden off of them. Of course, they're not going to part from the dollars they argue are worthless because deep down, they know that the dollar isn't really worthless.

[JohnR! 5,495]

i'll have to look, i might have a 1, 2, or 5 mark bill.

He said 'green'... you'll need some DMK 20 bills...

[Ban Hammer 13,343]

He said 'green'... you'll need some DMK 20 bills...

i've got a green marker around here somewhere....