It never existed in the first place.

unyon: It never existed in the first place.

Which is exactly why the powers that be can simply recreate all of that money and more, if they so choose. With nearly the entire world running on fiat currencies, the idea of being "broke" is no longer a meaningful term on a national scale. One country and simply "create" as much money as they need, and say that it is worth whatever they want. If they wanted to, they could "create" enough money to erase the EU's debts, say it is worth exactly that much, then go out for lunch.

Basing currencies on precious metal reserves is doomed to fail over the long term, but what we are seeing now is the logical end of the "evil" side of the fiat currency sword.

DarnoKonrad: People don't spend enough time asking were the 6.3 trillion came from in the first place.

THIS. It was not real to begin with. What can be created out of nothing quickly can also disappear into nothing just as quickly.

Grand_Moff_Joseph: One country and simply "create" as much money as they need, and say that it is worth whatever they want.

The first part of this statement is true. The second is not. Well, technically it is, since a country can make whatever value claims they want on a currency. But that claim doesn't establish its value, the market does.

Grand_Moff_Joseph: ....

bullion backed currencies are just as arbitrary as fiat currencies. the value of both is determined by the market.

Jump, you fsckers.

Almost $6.3 trillion was erased from global stock markets this year as the euro zone financial crisis reverberated across the world in the latter half of 2011, calling into question the future of the world's largest currency bloc.



and if you ask questions about where that money came from and why it was so easily destroyed, then the cops will raid your camp site at 2am and tear gas/beat you into submission. then CNN and Fox news will mock you for daring to question the stablity of wall street. Oh, and you'll be added to a terrorist watch list...because f*ck you, that's why.

Hobodeluxe: Therion: Jump, you fsckers.

doesn't work. they have golden parachutes

that's ok, it should be easy enough to punch a few holes in the canopy.

and dig tiger-pits in their landing zones

A year is a long poof

unyon: It never existed in the first place.

I like to think this.
But as I have gotten older and read more and more about fiat currency and virtual currency, I have started to question this view.

The only people who LOST any money were those that SOLD at the lower price, right?
In theory, if you wait until the price goes back up and sell, you wont have lost anything.

Unless you are Greece

Okay, now give me the keys you cocksucker.

/it took this long, really?

Well, it all went to a lawyer... Kobayashi.

Toshiro Mifune's Letter Opener: Well, it all went to a lawyer... Kobayashi.

Well, it took until the last day of the year, but I scooped TMLO on a movie reference.

Cheers, good sir.

i hate bankers as much as the next guy but everyone is acting as if the stock market prices have anything more to do with the real world than world of warcraft gold. sure you can convert warcraft gold into money and money into gold, but the way warcraft gold behaves with other warcraft gold is completely irrelevant to real life.

/stock market = ponzi scheme

Rev.K: Well, it took until the last day of the year, but I scooped TMLO on a movie reference.

*fistbump*

Great minds, mammajamma, and good jorb beating me to the punch!


Cheers, good sir.

Cheers, dude, and happy new year!

fredbox: Protip: Start hoarding Loonies ... http://en.wikipedia.org/wiki/Oil_reserves#Estimated_reserves_by_count r y

meh
Although the IEA insists on Canada's Reserves as being listed as 178 billion barrels, many experts including CEO of Shell Canada, Clive Mather estimate it to actually be 2 Trillion barrels or more, essentially 8 times more than Saudi Arabia.[21]

going to continue to just ignore the people who claim that the sky is falling
but thanks for the warning