Interesting exchange at Zerohedge. This guy seems to indicate that the world will never run out of gold, hmmm, well, I can tell you I knew people that showed up at the bank and told me the doors were closed.
by Caviar Emptor
on Tue, 06/01/2010 - 13:33
#387019
The gold won't run out, the goods and services will simply be revalued. It's pretty simple.
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by Mako
on Tue, 06/01/2010 - 17:50
#387885
Yeah, because you were never able to supply the needed gold to support the system, sorry rewriting history and Math is going to fail.
Let me see the bank run during 1929, what exactly happen, you claim they didn't run out of gold, well, I think quite a few million people that showed up at the bank and they closed the bank would disagree with you.
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Gold won't run out...If you remove X% of the population. You calculate X.
ReplyDeleteWell, I agree and disagree at the same time. You still run out of gold because the obligations pass on through inheritance... but yes, in the bigger scheme of things when liquidation comes online the imbalances are fixed through liquidation of the non-performing liabilities like you suggested.
ReplyDeletex=75% when eroi=1
ReplyDeletehow long until the real liquidation begins? have been hearing war drums for the last couple of years now. this should be even more interesting this time around now that we have no more cheap oil with which to "grow"
To sum it up:
ReplyDeleteDriving that train, high on cocaine,
Casey Jones YOU BETTER, watch your speed.
Trouble ahead, trouble behind,
And you know that notion just crossed my mind.
Look at the chart in this post. It says it all.
ReplyDeletehttp://www.businessinsider.com/my-question-for-paul-krugman-and-brad-delong-2010-6
Debt implosion underway. Surf the backside of the function for 40 or so years. Yeeaahhhhhhh.