How is your life impacted by the FIAT money system

Discussion in 'Politics' started by targus, Jul 29, 2010.

  1. targus

    targus
    Expand Collapse
    New Member

    Joined:
    Feb 10, 2008
    Messages:
    8,459
    Likes Received:
    0
    For those who argue against the fiat money system...

    How are you personally impacted?

    I am looking for real day to day examples.
     
  2. KenH

    KenH
    Expand Collapse
    Active Member

    Joined:
    May 18, 2002
    Messages:
    32,485
    Likes Received:
    0
    A dollar given me on the day I was born in 1955 would today purchase only a fraction of what it would have purchased on that day. It takes $8.09 today to purchase what $1.00 would purchase in 1955.
     
    #2 KenH, Jul 29, 2010
    Last edited: Jul 29, 2010
  3. targus

    targus
    Expand Collapse
    New Member

    Joined:
    Feb 10, 2008
    Messages:
    8,459
    Likes Received:
    0
    Is the fiat money system the only reason for inflation?

    No - it is not.
     
  4. Earth Wind and Fire

    Earth Wind and Fire
    Expand Collapse
    Well-Known Member

    Joined:
    Jun 5, 2010
    Messages:
    18,933
    Likes Received:
    96
    Boy Glad you asked......here is a copy of a slide show giving you trends & buying power of the US dollar & its continuous loosing buying power since 1960.

    FIAT ..... since you wanted it in Italian. You can skip all the introduction to the presentation by moving to 5:21 minutes in. That will give you the meat (excusa the pun):laugh:

    http://www.youtube.com/watch?v=xtbYrwlgJWk
     
  5. Thinkingstuff

    Thinkingstuff
    Expand Collapse
    New Member

    Joined:
    May 14, 2008
    Messages:
    8,169
    Likes Received:
    0
    Well, I can buy a FIAT for less dollars than it takes lire but more than it does Euros. And I use to trade money where I bought when the pound was down against the dollar and then sell pounds when it was up agianst the dollar.
     
  6. KenH

    KenH
    Expand Collapse
    Active Member

    Joined:
    May 18, 2002
    Messages:
    32,485
    Likes Received:
    0
    Overall, yes. Inflation is an increase in the supply of money above the increase in the rate of productivity.
     
  7. Earth Wind and Fire

    Earth Wind and Fire
    Expand Collapse
    Well-Known Member

    Joined:
    Jun 5, 2010
    Messages:
    18,933
    Likes Received:
    96
    Air Force Bases in Germany don't count TS. My uncle used to sell FIATS (aka Fix It Again Tony's) in Scranton.....Garbage!!!
     
  8. Thinkingstuff

    Thinkingstuff
    Expand Collapse
    New Member

    Joined:
    May 14, 2008
    Messages:
    8,169
    Likes Received:
    0
    No way a german would even look at a FIAT! Now a Bavarian Motor Works car is a different story. I don't think Italians even liked FIATS. Usually they just turn them into scooters. But then did you ever have the Joy's of a Yugo?
     
  9. Earth Wind and Fire

    Earth Wind and Fire
    Expand Collapse
    Well-Known Member

    Joined:
    Jun 5, 2010
    Messages:
    18,933
    Likes Received:
    96
    My wife's old man's people are from Stuttgart......Porche & Audi all the way with some VW thrown in for the kiddies. Your forgetting Alfa's as tool around's.....FIATS = Garbage (now there is economics lesson for you....the Deperation (desperation) value of a FIAT from dealers lot to your drive. I'd estimate 65%).

    PS: Vespa's better than FIAT's
     
    #9 Earth Wind and Fire, Jul 29, 2010
    Last edited by a moderator: Jul 29, 2010
  10. Thinkingstuff

    Thinkingstuff
    Expand Collapse
    New Member

    Joined:
    May 14, 2008
    Messages:
    8,169
    Likes Received:
    0
    The depreciation I think would be greater if you got it home. My first car btw was a Peugot. So I can't really talk.
     
  11. targus

    targus
    Expand Collapse
    New Member

    Joined:
    Feb 10, 2008
    Messages:
    8,459
    Likes Received:
    0
    While an increase in the money supply relative to goods and services does result in inflation - it is not the only cause of inflation.

    There has been no significant change in the annual rate of inflation since the U.S went off the gold standard.

    Frankly, I am hoping for a response to the OP from Poncho since the fiat money system is a big issue with him - and I do not understand why.
     
  12. Thinkingstuff

    Thinkingstuff
    Expand Collapse
    New Member

    Joined:
    May 14, 2008
    Messages:
    8,169
    Likes Received:
    0
    Probably because there is no real basis of value apart from market performance. And dependence on the civilian run federal reserve banking system. Really, open to corruption.
     
  13. KenH

    KenH
    Expand Collapse
    Active Member

    Joined:
    May 18, 2002
    Messages:
    32,485
    Likes Received:
    0
    "Between 1880 and 1914, the period when the United States was on the “classical gold standard,” inflation averaged only 0.1 percent per year."

    - www.econlib.org/library/Enc/GoldStandard.html
     
  14. Earth Wind and Fire

    Earth Wind and Fire
    Expand Collapse
    Well-Known Member

    Joined:
    Jun 5, 2010
    Messages:
    18,933
    Likes Received:
    96
    Who took us off the Gold Standard....If you know.
     
  15. Earth Wind and Fire

    Earth Wind and Fire
    Expand Collapse
    Well-Known Member

    Joined:
    Jun 5, 2010
    Messages:
    18,933
    Likes Received:
    96
    Was that the Pinnin Farina design? I liked that one. It had style which most cars today do not.
     
  16. Thinkingstuff

    Thinkingstuff
    Expand Collapse
    New Member

    Joined:
    May 14, 2008
    Messages:
    8,169
    Likes Received:
    0
    No. It was a 505 sedan.
     
  17. billwald

    billwald
    Expand Collapse
    Banned

    Joined:
    Jun 28, 2000
    Messages:
    11,414
    Likes Received:
    0
    Since the end of WW2 a new low end car has cost about a half year's pay for a working person and the cost per mile of routine upkeep has dropped. On a work hours to purchase basis the cost of food, clothing, and basic shelter has dropped. I suspect medical costs would have also dropped if people were satisfied with WW2 medical treatments. The big cost increases are caused by government regulations.
     
  18. KenH

    KenH
    Expand Collapse
    Active Member

    Joined:
    May 18, 2002
    Messages:
    32,485
    Likes Received:
    0
    It was done in phases. The link I provided gives a pretty good, consise history.
     
  19. Thinkingstuff

    Thinkingstuff
    Expand Collapse
    New Member

    Joined:
    May 14, 2008
    Messages:
    8,169
    Likes Received:
    0
    Wasn't it Tricky Dick that ended the direct convertability to Gold thus ending the Gold standard?
     
  20. billwald

    billwald
    Expand Collapse
    Banned

    Joined:
    Jun 28, 2000
    Messages:
    11,414
    Likes Received:
    0
    >"Between 1880 and 1914, the period when the United States was on the “classical gold standard,” inflation averaged only 0.1 percent per year."

    Between 1880 and 1914 most people lived in poverty.

    Money inflation is a false measurement. Only thing matters to people who work for a living is job availability and how many hours they need to work to pay the bills.
     

Share This Page

Loading...