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RE: How Currency Is Created

in #money8 years ago (edited)

" The hope is that enough people learn what it going on that when the system does crash, people know why it did. A misinformed people, is an easily controlled people."

I agree with your statement, however I truly believe when the system really crashes, we go into a phase of anarchy. Think of it: when we do not have any trust in a US$ or Euro anymore, how do we get to our food? The food companies will crash since they do not get supply anymore, their only means to get to food is buy it with $ or Euro's, but these has no value anymore, so suppliers/farmers will not sell anymore. Same for food store / retail. Most of us (at least in the so called western world) do not grow their own food or do not have people in their own (close) network growing and producing food. Millions, even billions of people will start fighting for the food to survive. Result: total chaos and total anarchy, no matter if people know why the system crashed or not.

BTW, good and solid explaination how we create money. Decades ago governments where obliged to keep physical gold reserves for the money created; a least a somewhat better system then we have now.

On a positive note: with virtual currencies like Steem or Bitcoin we can create a more fair money system similar to the $/Euro and give everybody on the planet a basic income, something we need when AI/Robotics will take over the world of production, serving, creation, inovation and with that even thinking.

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Wow. That is quite the reply, haha.
I agree - we will see food shortages once things collapse.
Hopefully Steem and other cryptos will ease the transition out the debt laden we have now.