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How is your life impacted by the FIAT money system
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Boy Glad you asked......here is a copy of a slide show giving you trends & buying power of the US dollar & its continuous loosing buying power since 1960.
FIAT ..... since you wanted it in Italian. You can skip all the introduction to the presentation by moving to 5:21 minutes in. That will give you the meat (excusa the pun):laugh:
http://www.youtube.com/watch?v=xtbYrwlgJWk
FIAT ..... since you wanted it in Italian. You can skip all the introduction to the presentation by moving to 5:21 minutes in. That will give you the meat (excusa the pun):laugh:
http://www.youtube.com/watch?v=xtbYrwlgJWk
Thinkingstuff
Active Member
Well, I can buy a FIAT for less dollars than it takes lire but more than it does Euros. And I use to trade money where I bought when the pound was down against the dollar and then sell pounds when it was up agianst the dollar.
KenH
Well-Known Member
Overall, yes. Inflation is an increase in the supply of money above the increase in the rate of productivity.
Air Force Bases in Germany don't count TS. My uncle used to sell FIATS (aka Fix It Again Tony's) in Scranton.....Garbage!!!
Thinkingstuff
Active Member
No way a german would even look at a FIAT! Now a Bavarian Motor Works car is a different story. I don't think Italians even liked FIATS. Usually they just turn them into scooters. But then did you ever have the Joy's of a Yugo?
My wife's old man's people are from Stuttgart......Porche & Audi all the way with some VW thrown in for the kiddies. Your forgetting Alfa's as tool around's.....FIATS = Garbage (now there is economics lesson for you....the Deperation (desperation) value of a FIAT from dealers lot to your drive. I'd estimate 65%).
PS: Vespa's better than FIAT's
PS: Vespa's better than FIAT's
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Thinkingstuff
Active Member
The depreciation I think would be greater if you got it home. My first car btw was a Peugot. So I can't really talk.
While an increase in the money supply relative to goods and services does result in inflation - it is not the only cause of inflation.
There has been no significant change in the annual rate of inflation since the U.S went off the gold standard.
Frankly, I am hoping for a response to the OP from Poncho since the fiat money system is a big issue with him - and I do not understand why.
Thinkingstuff
Active Member
Probably because there is no real basis of value apart from market performance. And dependence on the civilian run federal reserve banking system. Really, open to corruption.
KenH
Well-Known Member
"Between 1880 and 1914, the period when the United States was on the “classical gold standard,” inflation averaged only 0.1 percent per year."
- www.econlib.org/library/Enc/GoldStandard.html
Who took us off the Gold Standard....If you know.
Was that the Pinnin Farina design? I liked that one. It had style which most cars today do not.
Thinkingstuff
Active Member
No. It was a 505 sedan.
Since the end of WW2 a new low end car has cost about a half year's pay for a working person and the cost per mile of routine upkeep has dropped. On a work hours to purchase basis the cost of food, clothing, and basic shelter has dropped. I suspect medical costs would have also dropped if people were satisfied with WW2 medical treatments. The big cost increases are caused by government regulations.
KenH
Well-Known Member
It was done in phases. The link I provided gives a pretty good, consise history.
Thinkingstuff
Active Member
Wasn't it Tricky Dick that ended the direct convertability to Gold thus ending the Gold standard?
>"Between 1880 and 1914, the period when the United States was on the “classical gold standard,” inflation averaged only 0.1 percent per year."
Between 1880 and 1914 most people lived in poverty.
Money inflation is a false measurement. Only thing matters to people who work for a living is job availability and how many hours they need to work to pay the bills.
Between 1880 and 1914 most people lived in poverty.
Money inflation is a false measurement. Only thing matters to people who work for a living is job availability and how many hours they need to work to pay the bills.