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Identifying the inherent problems of a monetary system


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I would have to suggest IAchilleasI that the inherent problems within our modern capitalist economy are not the technical issues that you described in your OP rather that these are the symptoms that arise from having an economy that is based upon competition and which is prone to regular crises.

 

Yes definitely, it is just that I am very particular and peculiar with my personal semantic definition of words but am not very good at explaining them. Thank you for the thoughtful post.

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If you had read a bit further down, you would have seen this:

 

Which has nothing at all to do with you introducing conspiracy theories to the thread and then complaining about the thread being sidetracked.

 

Anyhow - you seem to have skipped answering anything that doesn't fit to this rigid system of "cyclical consumption" (housing, energy, food etc as I've mentioned a couple of times).

 

Cut to the quick - where are the solutions to give us a wonderful nirvana?

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How about these little fella's then? They'd be perfectly happy in your loft :)

 

http://www.gizmag.com/snake-like-robots-construction-work/10565/

 

And drag it's laptop with it?

 

"Currently the robots are tethered to laptops"

 

diagnose the problem in my header tank and fix it in ten minutes.

 

Can it use a screwdriver or a wrench in a confined space?

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Doesn't it seem a bit silly though? Building a massive amount of debt and every time we realise its too massive to pay back, we just write the debt off? Why create the debt in the first place?

 

there are all sorts of reasons why the debt appeared, the short termism which has bedevelled politicians and industry, the belief that it could be repaid, wanting something now rather than waiting until it could be afforded.

 

whatever the reason it's here now and the world cannot move forward until it's reduced, so silly or not a planned, coordinated write off is the only way out.

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there are all sorts of reasons why the debt appeared, the short termism which has bedevelled politicians and industry, the belief that it could be repaid, wanting something now rather than waiting until it could be afforded.

 

whatever the reason it's here now and the world cannot move forward until it's reduced, so silly or not a planned, coordinated write off is the only way out.

 

Absolutely, but what I meant was, if the debt was indeed written off, what then? Do we carrry on as usual until the debt becomes massive and procceed to write it of again?

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Writing off the debt is a problem in itself.

 

Is the debt written off at source? Do mortgage or credit card holders get to write off their debts? Or is it just Countries that can eradicate their debts?

 

I cant help thinking that the continual kicking the can down the road in the EEC / PIIGS debt problems, is so that eventually it is to change the monetary system, as politicians havent got the balls to do it now.

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Absolutely, but what I meant was, if the debt was indeed written off, what then? Do we carrry on as usual until the debt becomes massive and procceed to write it of again?

 

hopefully not

 

at the end of the process there needs to be more intrusive regulation and also a change of attitude amongst consumers which would give the system more stability

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Writing off the debt is a problem in itself.

 

Is the debt written off at source? Do mortgage or credit card holders get to write off their debts? Or is it just Countries that can eradicate their debts?

 

I cant help thinking that the continual kicking the can down the road in the EEC / PIIGS debt problems, is so that eventually it is to change the monetary system, as politicians havent got the balls to do it now.

 

ultimately the debt is either going to be repaid or written off. it can be done now in a controlled manner or in the future in a mad scramble.

 

ending fractional reserve banking isn't going to solve this, if anything it will make it worse since you're removing money from the economy which will cause massive deflation.

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