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How is your life impacted by the FIAT money system

Discussion in 'Political Debate & Discussion' started by targus, Jul 29, 2010.

  1. targus

    targus New Member

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    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 Well-Known Member

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    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 New Member

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    Is the fiat money system the only reason for inflation?

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

    Earth Wind and Fire Well-Known Member
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    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 Active Member

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    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 Well-Known Member

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    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 Well-Known Member
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    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 Active Member

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    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 Well-Known Member
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    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 Active Member

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    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 New Member

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    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 Active Member

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    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 Well-Known Member

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    "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 Well-Known Member
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    Who took us off the Gold Standard....If you know.
     
  15. Earth Wind and Fire

    Earth Wind and Fire Well-Known Member
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    Was that the Pinnin Farina design? I liked that one. It had style which most cars today do not.
     
  16. Thinkingstuff

    Thinkingstuff Active Member

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    No. It was a 505 sedan.
     
  17. billwald

    billwald New Member

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    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 Well-Known Member

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    It was done in phases. The link I provided gives a pretty good, consise history.
     
  19. Thinkingstuff

    Thinkingstuff Active Member

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    Wasn't it Tricky Dick that ended the direct convertability to Gold thus ending the Gold standard?
     
  20. billwald

    billwald New Member

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    >"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.
     
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