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PostPosted: Sat Feb 25, 2012 12:47 pm 
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When you start seeing sterling denominated in figures like this you will know the fiat system is collapsing.

It's the reason the rich and powerful protect themselves with ownership of property, fine art and other tangible assets which would hold their 'store of value' in a hyperinflation scenario.

The Greek government replaced some of the Army higher echelons a Month or two ago. I think these people were planning a coup at that point. This is not to say there will not be another as EU imposed austerity is going to cause real hardship. This is going to create the circumstances for a real revolution.

The EU will not cut Greece loose for one reason and one reason only, if they do other club med states like Portugal and Spain would follow, then Ireland and others. This would not suit the Federalists who have taken so long to get the Union to where it is today. But of course the Germans do not want to be continually funding a Greek lifestyle which they themselves cannot afford.


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PostPosted: Sat Feb 25, 2012 1:21 pm 
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Used to have German stamps in the millions of marks values.

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PostPosted: Sat Feb 25, 2012 2:28 pm 
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Westonman wrote:
The real gain for the behind-the sceners is absolute POWER over others; and control of essential TANGIBLE ASSETS. We ordinary folk neither have power, nor are we permitted anywhere near valuable TANGIBLE ASSETS.

so the phrase I " promise to pay " printed on banknotes is a statement that can not be honoured, even if it could! with what would you be paid with? and why is a system so flawed still exist ? not only is it flawed, but has been for centuries, the main problem there is nothing to replace it, the present trend as money become obsolete is credit, be it card, overdraft, or worse still credit pay later, that in turn amplifies, not remedy, the creator in the first instance could not have forseen this, as it has evolved from the time that one man wants something, another man has, this I believe will continue until such time as the planet contracts and is sucked into a black hole. :o :o

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PostPosted: Sat Feb 25, 2012 5:23 pm 
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PostPosted: Sat Feb 25, 2012 5:59 pm 
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jim wrote:
Westonman wrote:
The real gain for the behind-the sceners is absolute POWER over others; and control of essential TANGIBLE ASSETS. We ordinary folk neither have power, nor are we permitted anywhere near valuable TANGIBLE ASSETS.

so the phrase I " promise to pay " printed on banknotes is a statement that can not be honoured, even if it could! with what would you be paid with? and why is a system so flawed still exist ? not only is it flawed, but has been for centuries, the main problem there is nothing to replace it, the present trend as money become obsolete is credit, be it card, overdraft, or worse still credit pay later, that in turn amplifies, not remedy, the creator in the first instance could not have forseen this, as it has evolved from the time that one man wants something, another man has, this I believe will continue until such time as the planet contracts and is sucked into a black hole. :o :o


Banknotes are simply pieces of paper with a notional value printed on them. The whole shebang relies upon confidence in the system. I engage you to work for me and in return I give you these notes. You only accept them on the basis that you know that you can pass them on for goods and services of your own. It is a barter system pretty much the same as used thousands of years ago although the medium of barter then could have been fruit, veg or shiny metal.

Once the confidence goes a hyper inflationary situation evolves (Weimar) and the currency becomes worthless very quickly. This is what they were really worried about when RBS and Lloyds where bailed out in 08 and was the 'contagion' they spoke of without actually going into specifics.

Around the same time they upped the FSA Guarantee to £85,000 (which it is now) to reassure people who were concerned about bank failures. Made me smile on the basis that with a wide scale collapse the Government would never be able to make good on this notional promise.

The rich and elite are also aware of this and again that explains why they keep significant assets in commodities which would hold their store of value in a collapse.


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