what type of energy exchange do you think would evolve if a bank/stock market crash caused the masses to loose faith in fractional reserve banking and fiat money?

greenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread

If there is a mega crash of course there'd be chaos for a time.Then we'd start bartering.Where would we go from there?Considering that I'm just spouting conjecture,maybe Deano and other big money types could help me out here.

-- zoobie (zoobiezoob@yahoo.com), September 06, 1999


We would go back to creating a new "Fiat Money" of course. Where the hell would we get enough gold to cover all the needed currency.

-- cash is king (cashisking@moneyisit.com), September 06, 1999.

Silver and gold have always been the stable medium of exchange. Many other items have been tried, such as salt, seashells, limestone donut shaped stones, etc. Paper was originally a receipt for gold or silver. Most of the present generation have not seen silver or gold and will have to be educated to its natural value. It is scarce, divisible, portable and recognizable. Nothing else meets those requirements.

-- (Herb01@prodigy.net), September 06, 1999.

I think Zoobie is referring to the interim between the colapse of our monetary system and creating a new fiat substitution. Gold and silver are divisible and can be stretched as thin as needed. If it could be controlled, we could again deposit it and use depository receipts as the medium of exchange until another Roosevelt or Nixon came along to outlaw it.

-- (Herb01@prodigy.net), September 06, 1999.

I think what Zoobie is really trying to say is the gumption of the evil money lenders is becomsing so vile that even if we rid our nation of them, they will be reincarnated as cockroackes and live in our cupboards.

-- What Is He Really Saying? (may@never.know), September 06, 1999.

Probably return to a pre-monetary system where commodities are valued for their usefulness and not their 'assigned' value. Lets face it, medicine, furs, and other useful thing will be worth their weight is whatever you want to a desperate individual during a TEOTAWKI scenario. Another interesting question tho...I wonder what all those animal rights folk'll say during those long cold winter nites when there ain't no more blankets being produced...? Anyone for mink?

-- Billy-Boy (Rakkasn@Yahoo.com), September 06, 1999.

Billy Boy:

Huh? Just gonna sit around on cold winter nights and slaughter minks, tan their hides and sew those little pelts together?

I think it's easier to sheer sheep, spin yarn and weave blankets.

And I ain't no animal rights aktivist either.

-- LM (latemarch@usa.net), September 06, 1999.

yeah...I agree...just trying to raise some hackles here. But seriously...how many folks out ther really even undrestand the concepts you mentioned?....a damned sight too few unfortunately

-- Billy-Boy (Rakkasn@Yahoo.com), September 06, 1999.

I would start a gold-backed new currency based on my proven reserves, open my own bank and charge no interest whatsoever other than to have my wicked way with all depositor's wives/and/or daughters...

-- Andy (2000EOD@prodigy.net), September 06, 1999.


-- A (A@AisA.com), September 07, 1999.

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