Time for the mind

What is wrong with our money? Gone are the days when hard currency was talk. Will the euro retain their value or soon hardly be worth the paper on which it is printed? If overnight a currency reform as the introduction of the Deutschmark in 1948?

Questions that more and more people face - and on the basis of historical uniqueness of it at least as many speculative answers are as self-proclaimed experts. So let's try to keep us at a possible approximation to facts, to those who are reasonably well verified.

The fact is that there have debt beyond measure some nations and are on the verge of bankruptcy, such as Iceland, Ukraine and Hungary. However, even within the EU, some candidates have become shaky, foremost Greece and Ireland, then Austria (because of his careless Eastern Europe commitments and the threat of unrecoverable loans), Italy, and even Spain and Portugal. What however would mean a national bankruptcy, asked recently even the FAZ online . What happens when government bonds lose confidence entirely? Unlike a business enterprise exist for States no binding guidelines, any controlled method to sign or handle a bankruptcy ...

Also the fact is that the EU countries will do whatever it takes to save the European Monetary Union. Because would run a EU member due so would mean to not wiedergutzumachendem Image loss of EUR equal. To prevent this, there would be enough "holes in the EU Treaties", recently told me an informant from central bank circles. That would be announced officially but under no circumstances, because countries like Greece will no longer strained. It should finally be avoided that z. B. Michel with the German taxpayers' money has to pay for Greek mismanagement.

In addition, the swerving of a single EU-member from the currency union would mean its demise. For example, the Greeks brought their drachmas again from the basement, would speculate on the foreign exchange market immediately with arbitrage against this currency, so set on falling prices. George Soros and company have their "qualities" in this regard already repeatedly demonstrated ...

Furthermore, the fact is that the carrying amount of money has increased dramatically in recent decades. Since the assets were always equally grow as the debt is, on the current financial collapse considered equivalent to a debt cancellation. And should at the indebtedness of many states quite desirable (an interesting lecture Mittschnitt, there are here ). However, there is also a redistribution of real assets (such as property, land, production facilities, etc.) instead of: possession of money not the money will, but as a means, for the purpose ...

The circulating money supply increases merrily - and thus the devaluation of the currency concerned. Only a few days ago were from the Fed over a trillion (!) Reprinted dollars to pay the exorbitant debts. History seems to repeat itself, it took a blogger to the point : If a loaf of bread soon a million (the currency you are allowed to choose) cost?

However, the fact is also that recourse for very strong devaluation of a currency by the population automatically wertstabilere medium of exchange. This happened after the Second World War, where American cigarettes were the drug of choice before the German Mark replaced the Reichsmark. At that time there were 40 entry fee for each DM. The money spent amount was deliberately kept low because you did not know how much real value in the economy were still present.

And today, just in case? Medium of exchange could possibly spare the already existing and already proven in many places partly complementary currencies (zeitgeist reported in Issue 1-2007 ) be such as the Regio ...

Nevertheless, it is apparent that even well-researched facts inevitably lead to more questions here and we could lose ourselves in the most imaginative scenarios.

Someone once said, our monetary system has become too complex to be able to understand it yet. Sometimes it actually seems.

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