In a TOTAL banking meltdown..............

[SKR8PN]

........what do you think would happen and why. Discuss.

 

[Beekissed]

Massive, full scale bartering systems would be developed! And a lot of folks would be stuck with nothing to barter....

 

[On Our own]

Well Celente seems to have his thoughts

http://www.youtube.com/watch?v=9nJ7LM3iyNg&feature=related


Then there are the ideas of ChrisMarteneson.

http://chrismarteson.com/crashcourse


I think they are both right, however, there is also the possibility that like Iceland much of America could remain in such denial that their own lack of ability to comprehend the scope of the problem will save them.

What I mean is that dollars are only worth what people will accept for them. If people maintain their denial of their worthlessness, they will continue to exchange them for something similar to their earlier worth for far longer than they actually have value. This could not be sustained indefinitely, but could be sustained long enough to prevent cultural meltdown while people gradually accept a new standard of living (and / or a new world order which ever comes first.)

 

[justusnak]

Hmmmmmm, TOTAL bank meltdown? Me thinks the city folks would have a rough time of it. Now for me and mine...since we dont have a whole lot IN The bank... we would be OK, except for those wanting to tkae what we have, and they WILL when times get tough. Here in our small community...we use the barter system already. I have eggs...the lady down the road has milk goats...we swap eggs for milk. Another woman I know has the best herbs...I swap eggs for herbs. The barter system would have to come back into play once money is only worth what it written on...and even less.

 

[Tallman]

What I mean is that dollars are only worth what people will accept for them. If people maintain their denial of their worthlessness, they will continue to exchange them for something similar to their earlier worth for far longer than they actually have value. This could not be sustained indefinitely, but could be sustained long enough to prevent cultural meltdown while people gradually accept a new standard of living (and / or a new world order which ever comes first.)

I agree.

I don't think a banking meltdown will be our problem. There will always remain a "system" of some kind as long as there is government. Whether this government would be our own or a new world order system is another question all together. With all the money that has been printed, and all the money that will have to be printed in the future there will be lots and lots of dollars out there to deal with. This will require some type of banking system, and it also calls for an inflated dollar.

This has been the way of all fiat money. The people in control of government like fiat money because they can print whatever they want, and therefore, they think that they can control the economy. It is a monetary system built on confidence instead of actual value. When the confidence is lost, then a different barter system develops. I say a different barter system develops because any monetary system is nothing more that a barter system in and of itself. Today we barter with dollars to gain that which we need and want. Tomorrow - who knows!

The fiat money system has been tried over and over again, and it has always collapsed. So to me a collapse will not come as a banking meltdown, but as a lose of confidence in the dollar because one dollar will not buy much.

 

[On Our own]

Tallman you are completely correct and yet I hear people get incredibly irate when you indicate a return to some value based monetary system would be a good idea. They claim that such systems are too antiquated for our dynamic economy.


Well, call me antiquated, I have a system in place for barter and am working diligently on growing it. In a barter economy my skill set (which shall remain nameless) becomes pretty useless. I am working on developing new skill sets.

 

[Tallman]

Tallman you are completely correct and yet I hear people get incredibly irate when you indicate a return to some value based monetary system would be a good idea. They claim that such systems are too antiquated for our dynamic economy.


Well, call me antiquated, I have a system in place for barter and am working diligently on growing it. In a barter economy my skill set (which shall remain nameless) becomes pretty useless. I am working on developing new skill sets.

By "skill set" I assume that you are saying that your current job will not really be needed. Well, I'm in the same boat, due to age and back trouble.

As I mentioned before, we are now in a bartering system using dollars. We provide a service, and then we are paid in dollars. If a meltdown of this system comes along, we will be in the same type of game. We will provide a service (eggs, milk, fuel, ammo, some type of work, etc.) for something that we deem as valuable to us (gold, silver, usable commodities, etc). So, with that in mind, we need to get down to figuring out what is needed to maintain our existence, and what is just want so we can feel good.

We need food, shelter, peace of mind, etc. If the dollar melts down, maybe gold will surface, maybe we will have a new North American form of money or a global currency. If one of these come about, then we will all be providing a service so we can attain this new valuable asset in order to gain those things that we need or want.

I think that it is very possible that someday we will not have a tangible currency, but all transactions being done on a financial bases will be done electronically. I think that there will always be a system, but during the transition between systems we might have to barter directly through a trading of commodities.

And the beat will go on!

 

[On Our own]

Tallman said:

I think that it is very possible that someday we will not have a tangible currency, but all transactions being done on a financial bases will be done electronically. I think that there will always be a system, but during the transition between systems we might have to barter directly through a trading of commodities.

I think that this is where many bankers thought we already were. They were creating money out of thin air and then spending it based on the numbers on their computers.


I DO think it is possible for many of us to find our retirement accounts, regardless of make and model, and pensions simply empty here soon. This will cause some significant social upheaval for our retired and soon to be retired boomers.

I wonder what it could look like as those who once adhered to the hippie code, then turned into the Man now find themselves screwed by the Man....

 

[Tallman]

I wonder what it could look like as those who once adhered to the hippie code, then turned into the Man now find themselves screwed by the Man....

Might have to get me a VW van and some flowers.

 

[FarmerChick]

Better not be a banking meltdown cause right now I am buying up alot of bank stock since it is sooooo low it is incredible. I hope in the future to capitalize on these stocks.....Hmmm.....

But I don't see this happening either. With a govt. in place in all countries a total banking meltdown is not going to happen. Depression (a real one) and more trouble, sure that is already going to happen....but bail outs will be provided to keep a system in place. I just don't see it any other way.

A system of bartering in real life global economy....no way that just will never happen.

For me, I just don't worry about "what if" of these kinds of questions cause I have everyday life stuff to handle...LOL-LOL and that keeps me occupied big time...LOL