Mr.Canada Posted February 19, 2011 Report Share Posted February 19, 2011 I've read several conspiracy theories about this. Do you guys think that it could be possible for the entire world economy to collapse? Money would be made worthless and the world would be forced to use gold and silver as currency again. This is the reason many people believe that many jewelers are buying up as much gold as they can get their hands on. To prepare for this coming collapse. Quote Link to comment Share on other sites More sharing options...
Jack Weber Posted February 20, 2011 Report Share Posted February 20, 2011 I've read several conspiracy theories about this. Do you guys think that it could be possible for the entire world economy to collapse? Money would be made worthless and the world would be forced to use gold and silver as currency again. This is the reason many people believe that many jewelers are buying up as much gold as they can get their hands on. To prepare for this coming collapse. Biblical prophecy supports this.. Actually,eschatologically speaking,The New Testament tells us that even gold and silver will become worthless... Quote Link to comment Share on other sites More sharing options...
Shakeyhands Posted February 20, 2011 Report Share Posted February 20, 2011 Alas Babylon!!!!!!!...... Quote Link to comment Share on other sites More sharing options...
Bonam Posted February 20, 2011 Report Share Posted February 20, 2011 I've read several conspiracy theories about this. Do you guys think that it could be possible for the entire world economy to collapse? Money would be made worthless and the world would be forced to use gold and silver as currency again. Anything is possible. Is it particularly likely? No. The world economy will not collapse unless global civilization collapses, which could foreseeably happen only as a result of an apocalyptic nuclear war or an unprecedented catastrophic natural disaster (i.e. giant asteroid/comet impact). Quote Link to comment Share on other sites More sharing options...
bush_cheney2004 Posted February 20, 2011 Report Share Posted February 20, 2011 Anything is possible. Is it particularly likely? No. The world economy will not collapse unless global civilization collapses, which could foreseeably happen only as a result of an apocalyptic nuclear war or an unprecedented catastrophic natural disaster (i.e. giant asteroid/comet impact). Indeed..the very definition of "collapse" has no resemblence to real calamity. Today it just means underperforming hedge funds and labor strife. Nobody has lost a pound! Quote Link to comment Share on other sites More sharing options...
William Ashley Posted February 20, 2011 Report Share Posted February 20, 2011 (edited) the world economy is not the same as a given economic system. In a worst case scenario things 'devolve' to earlier economic systems such as barter. What makes gold valuable is that it is a rare earth metal. The rules of supply and demand, and survival of the fitest remain. Also the monetary system has a lot of moving room. If it takes 2 cents to make a peice of money this saves 50x the value of currency ratio on a 1 dollar bill. Multiply that by 10 on a $10 bill to 500x or 5000x on a $100 bill etc.. This gets into central bank controls - however, I don't expect this to differ all too much - generally only force majeur such as war have any real effect on currency values - even a 50% deflation (such as we've seen in the us - yes it was a joke of sorts its only been 25% since 2000) would lead to more printing if the monetary supply couldn't meet the demand for the currency. The trade value is only useful for trade surplus issues and generally either a country or given area needs to be self sufficient - have trade items or have access to foreign aid in order to interchange for their needs. (trade items include services and exchange schemes - for instance fx) It is a pretty basis issue - non self sufficiency of basic needs and no trade items or foreign aid is the only real risk. Otherwise it is a quality of life issue cross referenced with naturally occuring luxuries. it is basic economics. markets 101. Basically you can print money for a gain as long as it costs less to print than it is worth - and people still take it. Just like any other thing you can sell it comes down to labour and resources gained from the exchange. Money is a money maker until no one takes it. (there are of course other issues - but that is the basic frame work) just like any other resource - it is the overall outcome of the enterprise - see the wealth of nations http://metalibri.wikidot.com/title:an-inquiry-into-the-nature-and-causes-of-the-wealth-of Edited February 20, 2011 by William Ashley Quote Link to comment Share on other sites More sharing options...
Mr.Canada Posted February 20, 2011 Author Report Share Posted February 20, 2011 (edited) Anything is possible. Is it particularly likely? No. The world economy will not collapse unless global civilization collapses, which could foreseeably happen only as a result of an apocalyptic nuclear war or an unprecedented catastrophic natural disaster (i.e. giant asteroid/comet impact). I read or watch on discovery or something once that an asteroid could collide with Earth within our lifetime. Killing all life on Earth. Not from the initial impact but through the dust that will block out the sun. I think it's what inspired those movies Armageddon and Deep Impact. Anyone hear something like this? When the Jews,enmasse, start doing something it makes me wonder if their's something to it. Right now all the Jewish Jewelers are buying up gold and silver like crazy. I bought some gold and silver coins a while back just in case. It would suck to spend time saving up for a down payment to buy a house then soon after the economy collapses and money becomes worthless. I wonder if we'd turn into a Mad Max sort of society. Fighting over gasoline and such. That would be exciting...hehe. Edited February 20, 2011 by Mr.Canada Quote Link to comment Share on other sites More sharing options...
Sir Bandelot Posted February 20, 2011 Report Share Posted February 20, 2011 I read or watch on discovery or something once that an asteroid could collide with Earth within our lifetime. Killing all life on Earth. Not from the initial impact but through the dust that will block out the sun. I think it's what inspired those movies Armageddon and Deep Impact. Anyone hear something like this? When the Jews,enmasse, start doing something it makes me wonder if their's something to it. Right now all the Jewish Jewelers are buying up gold and silver like crazy. I bought some gold and silver coins a while back just in case. It would suck to spend time saving up for a down payment to buy a house then soon after the economy collapses and money becomes worthless. I wonder if we'd turn into a Mad Max sort of society. Fighting over gasoline and such. That would be exciting...hehe. Ya then maybe we can blast all the undesireables, to planet Uranut Quote Link to comment Share on other sites More sharing options...
GostHacked Posted February 20, 2011 Report Share Posted February 20, 2011 Yes the global economic collapse should happen this year or early next year. Quote Link to comment Share on other sites More sharing options...
Bonam Posted February 20, 2011 Report Share Posted February 20, 2011 I read or watch on discovery or something once that an asteroid could collide with Earth within our lifetime. Killing all life on Earth. Not from the initial impact but through the dust that will block out the sun. It could, but the chance is very low. Based on geological and fossil evidence, on average, major asteroidal impacts happen once on the order of every 100 million years. So, the chance that it will happen within any given lifetime (say, a 100 year period) is about 1 in a million. Additionally, several space agencies now have programs to track asteroids that have orbital paths that intersect the Earth's orbit, so we have a good chance of detecting potentially dangerous asteroids some years in advance. And, there are a variety of plans, of varying levels of viability, to try to deflect such asteroids if they are detected. Quote Link to comment Share on other sites More sharing options...
bloodyminded Posted February 20, 2011 Report Share Posted February 20, 2011 When the Jews,enmasse, start doing something it makes me wonder if their's something to it. Right now all the Jewish Jewelers are buying up gold and silver like crazy. Ye gods. Quote Link to comment Share on other sites More sharing options...
maple_leafs182 Posted February 21, 2011 Report Share Posted February 21, 2011 Yes there will be a global economic collapse and it will start with the US dollar collapsing. Quote Link to comment Share on other sites More sharing options...
bush_cheney2004 Posted February 21, 2011 Report Share Posted February 21, 2011 Yes there will be a global economic collapse and it will start with the US dollar collapsing. So are you saying that the global economy is very dependent on the USA? Ahhhhh...music to my ears. Thanks! Quote Link to comment Share on other sites More sharing options...
maple_leafs182 Posted February 21, 2011 Report Share Posted February 21, 2011 So are you saying that the global economy is very dependent on the USA? Ahhhhh...music to my ears. Thanks! Why are you so nationalistic. The US is the largest economy in the world at the US dollar is the worlds reserve currency, of course the world economy is dependent on America. Quote Link to comment Share on other sites More sharing options...
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