Bye Bye Banks and Wall Street

[Andrew]

Originally Posted by Alex

That's true. Abandoning fiat currency would have avoided most of the current problems.

In favor of what? Bits of shiny metal?

[BarTopDancer]

I like shiny.

[Alex]

I wouldn't advocate abandoning fiat currency, it would just avoid the kind of thing causing trouble now. Of course, it would prevent most of the things that we really like having at the risk of things like the stuff causing trouble now.

[Morrigoon]

Yeah, going back to the gold standard isn't going to work. Expectations of inflation are too ingrained at this point.

[DreadPirateRoberts]

Here's an interesting explanation (with stick figure pictures!)

[Andrew]

Originally Posted by DreadPirateRoberts

Here's an interesting explanation (with stick figure pictures!)

That was very clever, thanks!

[LSPoorEeyorick]

Originally Posted by DreadPirateRoberts

Here's an interesting explanation (with stick figure pictures!)

That was great!

[€uroMeinke]

But the value of Gold is also imaginary - as is Cowrie Shells

[Alex]

Looks like the feds have decided to save the entire sector.

Can't say I approve, but it would be an interesting outcome if the government ends up making a huge profit off it all (because even in the segment they'll be buying up the vast majority of homeowners are still meeting debt obligations). Can't wait to see how they decide to price them.

[BarTopDancer]

I'm confused again