End of US dollar? China moves towards currency convertibility

[tortoise]

Quote from achilles28:

That's horseshit. A total red herring.

Persuasive counter-argument. Lucid presentation. Most impressive.

You must be very well educated. I am humbled.

 

[newguy05]

as long as the us military is in play, the dollar will never fall out of favor, no matter how many trillion in debt it is.

 

[achilles28]

Quote from tortoise:

Persuasive counter-argument. Lucid presentation. Most impressive.

You must be very well educated. I am humbled.

As was yours = deflationary fear-mongering bullshit. But please, enlighten us. Explain, in detail, how a deflating currency equates to industrial collapse.

 

[tortoise]

Quote from achilles28:

As was yours = deflationary fear-mongering bullshit. But please, enlighten us. Explain, in detail, how a deflating currency equates to industrial collapse.

Well, I believe you were the one who wielded the "bullshit" label. In my experience, the burden is on the accuser to provide supporting evidence for his/her accusation. But perhaps your experience differs.

In any event, no worries: I couldn't care less.

 

[achilles28]

Quote from tortoise:

Well, I believe you were the one who wielded the "bullshit" label. In my experience, the burden is on the accuser to provide supporting evidence for his/her accusation. But perhaps your experience differs.

In any event, no worries: I couldn't care less.

Wrong again, Corky. The burden is on the claimant who makes a claim. U made a claim, so prove it

 

[zdreg]

Quote from newguy05:

as long as the us military is in play, the dollar will never fall out of favor, no matter how many trillion in debt it is.

"in play"as in for sale?

 

[zdreg]

Quote from tortoise:

"currency backed with gold, pal" = gold standard

gold standard = deflationary monetary policy

deflationary monetary policy = industrial collapse

industrial collapse = socio-political revolution

Confucious say:

"Chinese leaders may be inscrutable, but they are not suicidal."

"gold standard = deflationary monetary policy

deflationary monetary policy = industrial collapse"

please provide historical evidence.

 

[tortoise]

Quote from zdreg:

"gold standard = deflationary monetary policy

deflationary monetary policy = industrial collapse"

please provide historical evidence.

Excellent point. There is none. Just as there is no precedent for our debt-saturated global economy. Problem is, deflation makes debt more expensive, and debt service more onerous. Which means, in these hyper-leveraged times...well, bad things.

I can't imagine what William Jennings Bryan would have made of it.

[edit: on second thought, actually, I can...]

 

[tortoise]

Quote from achilles28:

Wrong again, Corky. The burden is on the claimant who makes a claim. U made a claim, so prove it

Just saw this. Sorry, totally confused. I did not make a "claim" on anyone's rights or property. How, then, am I a "claimant"?

Also, who's Corky? Thnx.

 

[oldtime]

Quote from tortoise:

Just saw this. Sorry, totally confused. I did not make a "claim" on anyone's rights or property. How, then, am I a "claimant"?

Also, who's Corky? Thnx.

please forgive achilles, he's probably a little out of sorts because that last claim he made still looks a little ridiculous.

If he was a gentleman, he would have politey asked (and since he isn't or won't I will)

How is a gold backed currency deflationary?
And how will that lead to industrial collapse?

(corky his imaginary nemesis)