Occupy Dallas

[Denny]

So what are you going to do as king of the world Denny?

You keep saying it is broken, but all I hear is that debt is the problem. You're going to eliminate debt? Fine. No how do you build a world class pharmaceutical company with treatments for multiple diseases? Subsidize it with government gold?

I never said it would be corrected over night, but our dollar's demand (the only thing making it worth a shit) is deminishing. Look at China, Russia, India, etc. buying up all the metals and other assets it can. They are agreeing to international trade among each other without the use of dollars.

When our demand is gone, then what? Build a world class pharmaceutical company with treatments for multiple diseases with worthless paper money? Let's just use a 100 trillion dollar Zimbabwe note for that.

[Broncojohnny]

Without buyers for the liquidity (soon to be proven by these bogus bonds), then what do you have?

Really, what is a dollar worth? What does a dollar equal?

The events of the past three weeks have wiped out a lot of the goldbug theory that the dollar is going down right after the Euro. Everyone ran to the dollar and our treasury instruments for safety, forsaking even gold and silver. That should tell everyone a lot about what our "fiat" currency is worth in the eyes of the world.

[CJ]

Yay... more paper dollar thingies!

You completely missed the point, completely. Seems like you're having a conversation with yourself. Capital can be exchanged for things other than dollars. That's the whole point you're failing to see.

[Bassics]

So what are you going to do as king of the world Denny?

You keep saying it is broken, but all I hear is that debt is the problem. You're going to eliminate debt? Fine. No how do you build a world class pharmaceutical company with treatments for multiple diseases? Subsidize it with government gold?

[Denny]

Assets and Capital can be compared to not only money, but demand. Securitize your loans better.

Yay... more paper dollar thingies!

[CJ]

Without buyers for the liquidity (soon to be proven by these bogus bonds), then what do you have?

Really, what is a dollar worth? What does a dollar equal?

Assets and Capital can be compared to not only money, but demand. Securitize your loans better.

[Denny]

It is backed by a promise to pay it back in gold, with some extra gold. That has always been true. A note is a promise with terms.

How is that different from today? Collateral obligations are still part and parcel of lending.

A spec of gold?

Right... and what was that when we maintained a gold standard versus now?

See where I'm going with this?

[Broncojohnny]

Right, but when it's not back by a hard asset, then it might as well be unicorn piss because it'll be printed beyond the source's means of paying it back, thus making it worth less.

But a fiat currency is worth what a group consensus says it is worth. So exactly how will it become worthless? At some point even gold is only worth what someone will pay for it. It does nothing in and of itself. Gold on a desert island is worthless. So in a system where currency is based on the value of something else that relies on a group consensus for value, is that currency not still a fiat currency? How does that extra link in the chain make the currency NOT a fiat currency any more?

[Bassics]

Right, but when it's not back by a hard asset, then it might as well be unicorn piss because it'll be printed beyond the source's means of paying it back, thus making it worth less.

It is backed by a promise to pay it back in gold, with some extra gold. That has always been true. A note is a promise with terms.

How is that different from today? Collateral obligations are still part and parcel of lending.

[347Mike]

Without buyers for the liquidity (soon to be proven by these bogus bonds), then what do you have?

Really, what is a dollar worth? What does a dollar equal?

A spec of gold?

[Denny]

liquid assets man. It isn't even debatable, financing is essential for capitalist growth. Checkout an economics textbook. For a company to grow at a respectable pace it has to borrow against it's own capital. Loans that are not backed by liquid assets are the problem you seem to be arguing.

And what exactly is with your BOA avatar? You should have Dick Durbin in that avatar.

Without buyers for the liquidity (soon to be proven by these bogus bonds), then what do you have?

Really, what is a dollar worth? What does a dollar equal?

[CJ]

What is the dollar backed by?

HINT: It's not oil.

liquid assets man. It isn't even debatable, financing is essential for capitalist growth. Checkout an economics textbook. For a company to grow at a respectable pace it has to borrow against it's own capital. Loans that are not backed by liquid assets are the problem you seem to be arguing.

And what exactly is with your BOA avatar? You should have Dick Durbin in that avatar.

[Snatch Napkin]

What is the dollar backed by?

HINT: It's not oil.

The push of a button, which activates a few volts to run down a wire to another financial institution.

[Denny]

There is nothing wrong with debt if it's backed by liquid assets. Financing drives capitalist growth, it is essential.

What is the dollar backed by?

HINT: It's not oil.

[CJ]

Right, but when it's not back by a hard asset, then it might as well be unicorn piss because it'll be printed beyond the source's means of paying it back, thus making it worth less.

There is nothing wrong with debt if it's backed by liquid assets. Financing drives capitalist growth, it is essential.