tag:blogger.com,1999:blog-9612609.post2136495058651060778..comments2023-09-29T06:58:20.125-07:00Comments on Badtux the Snarky Penguin: More on money supplyBadTuxhttp://www.blogger.com/profile/01345749557330760251noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-9612609.post-19257945986474619652009-02-13T14:53:00.000-08:002009-02-13T14:53:00.000-08:00The way I see it, every monetary system in the wor...The way I see it, every monetary system in the world is making its fiat currency worthless by massive printing. Look at the central bank interest rates in the U.S., the U.K., Japan, Eurozone, even China and smaller countries like Down Here. The rates are either AT zero or headed that way. Money is being treated like Crazy Eddie did with stereo components -- hell, they're giving it away! (Offer only applies if you're already rich...)<BR/><BR/>It's a race to the monetarist bottom worldwide. Inflating your fiat currency works as a debt relief/export encourager if one country does it. But if every country does it in tandem, you're left with a lot of Zimbabwe dollars. The tragedy of the commons again...<BR/><BR/>I'm doing the equivalent of mattress money with mine -- buying silver. (Already got enough gold.) The government here is giving away $900 to everyone as part of its economic stimulus program. I think Mrs. Bukko and I are actually going to qualify for that x 2. The last giveaway around Christmas was just for low-income people. This is supposed to be across the board.<BR/><BR/>When we go to Perth next month, we're visiting a place called the Perth Mint, which surprisingly enough, is a mint that takes gold and silver ore and makes coins out of it. We won't get to the Judas level of 40 pieces of silver, but I reckon we can get close to 30 apiece for our stimulus payments. Which is in effect mattress money. Another example of why it does no good to give government money to people who are relatively well-off. But no, I won't be a good martyr and refuse to take it.Bukko Boomerangerhttps://www.blogger.com/profile/02424677168216647964noreply@blogger.com