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Skol

33,037 Posts.

1391

24/04/16

14:45

Post #: 17589520
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Originally posted by Nugget25 ↑

...Exactly, $50 bill is a consumable with a relatively short & finite lifespan...

...You're entitled to your perception, but in context of your rental argument, one would also need to include other consumables such as food & clothing, without which, of course, one could not present oneself appropriately to the bank manager, or pay any outgoings....

...Whether gold has no dividend etc, you need to look at the B's traded daily on the Bullion Markets of which Gold is the base material asset (fractional as it is), albeit, this presents little or no gain to the true Private Registered owner other than the IMF, BIS, & Global CB's that lease their held Gold to speculators.

This private owner holds outside this system, without any security hassles, one can be pretty innovative. Sure, it don't work for a living, but in my circumstances it doesn't have to, just lays around like any useful spare part, 'just in case'...

...By far, more people don't have a property, nor are they likely to be able to obtain one, let alone proper Health or Education. Unhealthy, uneducated is what? 3rd world or worse? (Particularly NZ where I grew Up) No doubt you sell your properties privately to avoid the obscene premiums gouged by Real Estate spruikers et al... Congratulations...

...Just as "sentimental" & "passionate" as some of the anti brigade. Me, I'm joe blow very ordinary grounded member of the greater unwashed. You have a penchant for twisting & 'exagging' individual posts to suit, so go for your life...

Definition of Triffin dilemma

A reserve currency is a foreign currency that is traditionally held in countries’ official reserves because of its global importance as a medium of exchange and its inherent stability.
The reserve-currency country enjoys the consumption benefit of running a trade deficit, while the rest of the world benefits from the additional liquidity, which helps facilitate trade.
The cost comes from the declining value and credibility of any currency which runs a persistent trade deficit - eventually leading to a reluctance of creditors to hold the reserve currency.
As Francis Warnock (professor at the University of Virginia's Darden School of Business) points out in a paper for the Council On Foreign Relations, in 2010, the US confronted a dilemma first identified in 1960 by the Belgian-born Yale economist Robert Triffin.
To supply the world’s risk-free asset, the country at the heart of the international monetary system has to run a current account deficit. In doing so, it becomes more indebted to foreigners until the risk-free asset ceases to be risk-free.

...Where are we at currently??... Trillions down not enough?...Quadrillions?... Gazillions (or what ever come next)?..

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.By far, more people don't have a property, nor are they likely to be able to obtain one, let alone proper Health or Education. Unhealthy, uneducated is what? 3rd world or worse? (Particularly NZ where I grew Up) No doubt you sell your properties privately to avoid the obscene premiums gouged by Real Estate spruikers et al... Congratulations...
-----------------------------------------------

"Particularly NZ where you grew up?"

I live in NZ.

When did you leave NZ, in 1931? The average weekly wage in Auckland is $1458 per week, there's jobs everywhere, car sales are at records and young people sure can't afford houses in Auckland.

The main, very un-PC reason which has been floated by a mortgage broker in the last 2 days is that young people don't want to make sacrifices. They like the $20,000 car, they don't want to flat with others, they like to spend $120/ month on Sky TV, they want to spend $5 everyday on lattes and $10 on their lunch.

Actually it's true. Poverty in NZ? It's crap, most of it's self inflicted. There was an excellent example of a couple begging for money the other day until someone told the media that they had inherited $166,000 and blown the lot in 7 months.

Don't give me that poverty, unhealthy, poor education crap in NZ. Are you firing on all cylinders?

Last edited by Skol: 24/04/16
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