Yeah, every market participant doesn't need identical information for markets to be efficient, not even sure how you arrived at that conclusion.

You don't always need more money to pay off the debt, you need to ensure that the currency circulates. The worry is that even a small amount of deflation can lead to a cycle of reduced spending, more deflation, job losses, etc. This isn't magically solved by a non-debt based currency. The debt has very little correlation to the inflation rate. This can be easily seen by historical inflation rates and historical debt rates. Either government raises taxes to spend or government sells securities to spend (debt), either way the government is spending and the effects are similar.

Inflation is caused on purpose by the Fed and what it charges for credit. It does this to avoid deflation, no more, no less. Unfortunately the way it does this is by gifting banks at the theft of the people.

before i explain how, i want you to understand the difference between centralised and controlled.

centralised is where there is one main value indicator that everyone uses to make trading fair for both parties. in fiat terms the value "use to" represent gold value. which banks decided.

the banks decide value and governments control how we use it with laws and taxes.

luckily there is no 'control' but there is a centralised value for bitcoin

so back to the point. bitcoin is centralised but not controlled. i say this as the huge majority of people trading base the value of bitcoin on MTGox prices. so lets treat mtgox like the national reserve.. just without the gold inside.... lol

imagine a bitcoin world where people did not trade based on a FIAT value conversion but based on TIME. i said it in another thread but il say it here,

in medieval times a butcher would spend half an hour preparing a succulent beef steak, and would trade it for half an hour with a prostitute or for 2 flagons of ale.

in modern terms without thinking about the FIAT value imagine a days wage allowed you to go out in the evening to a bar, get so drunk you score with the ugliest woman you see and get a fast food meal at the end of the night.

again forgetting about fiat value. imagine we traded based on how many bitcoins we mine in one day being able to get that same evenings experience, or thinking that buying that gpu is worth 5 days of bitcoin labour.

reply with thoughts

The nothing is supposed to happen on the 12th I think.

Not really when it's so easy to adapt. If you put it in a savings account you would could buy just under 2, and if you put it in 1 year bonds you could buy about 5 after taxes. If you put it in an S&P index fund you could buy more than 50. Why anyone would want a system that would discourage people from investing and creating such a fantastic wealth increase is beyond me.

Hmm. I'm not used to all the legal-speak sorry. It does go over my head a lot of it. 

What about linking to the library which is what I really mean to say. That's a different story isn't it?

Just because something is closed source doesn't mean it isn't free.

Say that you could only trade oil for dollars.  If an oil-buyer didn't have dollars, they'd have to buy some, using whatever they do have, to use to buy oil.  If an oil-seller doesn't want to hold dollars, they'll have to sell the dollars they get from the sale in order to get whatever it is that they do want.

So, if the buyer can get dollars just before the purchase, and the seller can get rid of them just after the purchase, where could a net demand for dollars possibly come from?  It can only come from the desire to hold dollars.

Anything to worry about?

Its like pennystocks, first in first out, everbody knows its pumped but still they jump on.
The only thing missing is the pump mob 

The Federal Government is overspending by such a wide margin the only solution they have at this point is to devalue the dollar so the cost of borrowing does not collapse the welfare spending mountain.

The problem is so bad with excess federal spending that the only solutions we have at this point would be to cut spending across the board by 50%, raise taxes on every single person by 25%, confiscate wealth from the people in any way possible, or just default on the federal debt.

If we default on the federal debt the main group which will be crushed would be...The Federal Reserve.  The Fed has been putting so much federal debt on to its books that any change in the system at this point would really pound them.  If Ron Paul really wanted to "End the Fed", this would kill two birds with one stone.

1) Allow the Fed to buy U.S. debt back from foreign investors and don't sell any more debt outside the Fed.
2) Announce a new currency which will be backed with a basket of items such as Oil, Gold, Silver, Platinum, Lithium, etc...
3) Give everyone 1 year to exchange the old dollar with the new currency
4)  The Fed would take the loss from the currency devaluation and the federal debt.  This would end the Fed.

5) We start over.

Really my school never tought me anything about Star Wars :-( and just checked not in any history book you lied!

The GPL is a serious problem? For some people maybe. For me? No.

Not for gold or bitcoin 

So star wars will be a history book in 500 years - woot!

This is only true for dept based currency, as the dollar and all other fiat currencies.