So those with the bullets and bombs, us the US, will restructure no? Brenton Woods is still in effect somewhat. I don't buy all the conspiracy theories, but the Amero yes I could see it. Reading Creature from Jeykyl Island, how central bankers financed both sides in WWII its makes the ridiculous seem plausible.
If all major currencies collapse .... I don't think you could fool enough people to trust a global currency. Nobody who had any money and saw their life savings evaporate would buy into it.
Many like to believe it was WWII, so "we need WWIII". However, it was during WWII that America morphed from being primarily agrarian to primarily industrial.. from the war needs. It was the "industrialization" that ushered in our era of prosperity. No such opportunity for us now, however, and certainly not from a WWIII.
What about Bretton Woods, world reserve currency and all. We certainly benefited from that. The victor gets the spoils. On a broader note I keep thinking about Pabst Prime's prediction. The US and developed countries standard of living will go down as China and India's come up until they met towards the middle. Then outsourcing will decline greatly.
your professor sees the world as an economist and thats his problem. ask him if he is factoring in a technology breakthrough in his analysis such as the advent of electricity 100 years ago. most likely he is not. the world might be entering the a new leg of unprecedented growth fueled by something mind blowing such as free energy, space discoveries or health advancements based on genetics. just think of nineteen century and the present time. in 50 years, we could have moved as much as that. so what is the weight of fiat currencies inflationary policies and excessive deficits in this context?
Not true. Paper currencies are an evolutionary part of mankind. If the world as we know it ended today people would go back to bartering with rice for medicine, for example. When they got tired of carrying 100 lb bags of rice 1/2 way across town they would bring paper certificates (paper money) instead, which would allow people to come and pick up their rice. We may go through a very brief period where paper isn't trusted but it won't last long. People started trading Gold Deposit slips back in the day when Gold was a true currency. Who wanted to carry LBS of gold around with them, where people could steal it? Currencies are just an evolutionary part of mankind.
Ever since we emerged from the caves,the human condition is a struggle for survival,the pursuit of some kind of utopia in a world of constant uncertainty.Often,life seems fragile.We have been here for less than a second compared to the age of the planet, where species come and go,maybe including humans.In a way trading is very similar. Many feel that something really big,really bad,is going to happen-What's new. I can remember when they told us an ice age was coming in the 80's,when we lived under the threat of nuclear war.Then came aids- maybe millions would die they said.Then came terrorism and the threat of a police state. (i missed out a few 100 other things to worry about along the way) I'm 50 this year.You know what,screw it. I'm done with worrying about any of it.Because there is not a damn thing i,or anyone here can do about it. The world is not,unfortunately,ever going to be run by the good guys. And the rest of us haven't even got the guts to vote for them.The tragedy is that the masses have the real power,but no clue how to use it.Though i feel encouraged when i look at Iran or Iceland. At the end of the day,just be happy and enjoy your life as much as possible,for there is much to enjoy. And if you are in your 20's and reading this you will probably post something similar in 30 years time in all probability- and probability is a word traders understand well.
Well said. The only thing I have my sights set on is a condo in Hawaii and I'll be bringing dollar bills with me. I bet you 20 of them I'll be able to spend them.