2014 World Fiat Collapse?

[dank]

Tell your friends and family.  Speak up for what you believe in.

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[Bit_Happy]

Tell your friends and family.  Speak up for what you believe in.

Some of them remember me talking about it in 1989. 

[westkybitcoins]

The longer the Collapse is delayed the worse it will be.
It has been delayed for decades. 

Some would say that the economic history of the U.S. has been a repeated series of efforts to kick the can down the road ever since Nixon closed the gold window in, what, the early 1970's?

If so, the fact that they've stretched things this far, to 2014, is frightening. I really have a hard time seeing it lasting another 10 years, but who knows... maybe some new energy tech will miraculously appear and stave it off for another decade or two (again, yes, making the inevitable crash that much worse.)

[Bit_Happy]

The longer the Collapse is delayed the worse it will be.
It has been delayed for decades. 

Some would say that the economic history of the U.S. has been a repeated series of efforts to kick the can down the road ever since Nixon closed the gold window in, what, the early 1970's?...

The early 1970's?
Yes
The Libertarian Party was founded in 1972 by people who "gave up" on Nixon and the Republicans.

...
If so, the fact that they've stretched things this far, to 2014, is frightening....

I've gotten used to ignoring the "pending doom", but the word "frightening" does sound pretty accurate.
Will rose colored glasses help?

[BitOnyx]

I don't think it would be revolution. Simply after awhile people would slowly move to better alternatives of fiat. I actually happens right now. Problem is monetary system is support by government and we already saw what government can do at recent crisis. With unlimited support from taxpayers and loans it can keep system alive for very long time.

[Sindelar1938]

Not likely

The fiat world will stumble on for another generation or so

[maurya78]

Collapse no, a gradual decline in influence yes

[Lethn]

2008 - 2009 was our warning I think we're fast approaching the point of no return now, in fact, looking at the numbers I think we've already reached our peak, we're probably just going to go down from here.

[mgburks77]

I remember preparing for the death of the dollar in 2012
Then the silver bubble popped... Then I found bitcoin

silver wasn't in a bubble. it just got over extended and needed a correction.

That's a bubble

[Stanford]

Not likely

The fiat world will stumble on for another generation or so

I think the same way! I can't see the substitute for fiat nowadays , even Bitcoin can't replace it - it is too volatile, too young to become a common payment instrument , nowadays it is good as additional payment system

[mgburks77]

I remember preparing for the death of the dollar in 2012
Then the silver bubble popped... Then I found bitcoin

silver wasn't in a bubble. it just got over extended and needed a correction.

That's a bubble

Silver corrected 60%, so I wouldn't say that's a bubble, just a healthy market correction.

60% is huge deflation. 10% drop is a correction.

[Bonam]

As far as I can tell, there's no reason to believe fiat currencies/economies are headed for any kind of collapse.

Sure there is: the simple mathematical fact that an ever-increasing expansion of debt (which the current system is based on) is unsustainable.

Debt is just a number, a value stored in a computer database. A number can get as big as you want it to get. If you were talking about exponential growth in the use of resources or energy, etc, I'd agree, that's mathematically not possible to sustain forever. But if we're just talking about currency/debt, the numbers can just as easily be quadrillions as billions, can just as easily be 10^100000 instead of quadrillions, and society will look no different.

[westkybitcoins]

As far as I can tell, there's no reason to believe fiat currencies/economies are headed for any kind of collapse.

Sure there is: the simple mathematical fact that an ever-increasing expansion of debt (which the current system is based on) is unsustainable.

Debt is just a number, a value stored in a computer database. A number can get as big as you want it to get. If you were talking about exponential growth in the use of resources or energy, etc, I'd agree, that's mathematically not possible to sustain forever. But if we're just talking about currency/debt, the numbers can just as easily be quadrillions as billions, can just as easily be 10^100000 instead of quadrillions, and society will look no different.

Except that eventually, men with guns do their best to enforce that debt (at least the portion owed to the well-connected.)

When society tries to service trillions of dollars of debt when there's no possible way to do so, problems occur. Among these is economic collapse.

Now, if the debt were just done away with, then yes, there wouldn't be much (immediately) to worry about. I don't see that happening though.

[mgburks77]

As far as I can tell, there's no reason to believe fiat currencies/economies are headed for any kind of collapse.

Sure there is: the simple mathematical fact that an ever-increasing expansion of debt (which the current system is based on) is unsustainable.

Debt is just a number, a value stored in a computer database. A number can get as big as you want it to get. If you were talking about exponential growth in the use of resources or energy, etc, I'd agree, that's mathematically not possible to sustain forever. But if we're just talking about currency/debt, the numbers can just as easily be quadrillions as billions, can just as easily be 10^100000 instead of quadrillions, and society will look no different.

The number used to enumerate the debt is directly related to usage of resource or energy. It represents deficits in both items.

So, it's not "just a number" at all. It is a symbolic representation of how much resources are used by a particular process. If the numbers don't all add up then society's goals and the means to legitimately attain them will not correspond, a condition called "anomie", which is exactly what our society is currently facing.

Colloquially when people talk about how society is "breaking down", or the family unit is "breaking down" they are referring to this sociological process. People begin to ignore social norms when they figure out they are useless, or worse, detrimental to their own individual interests and thus "society breaks down". Right now it's just people being a littler ruder or ignoring social conventions. But if it gets bad enough even the most deeply ingrained social taboos such as the prohibition against cannibalism, and the social evolution that caused humans to stop looking at each other as a food source could be erased, just like that. 

If you can't see how this relates to the social situation in the developing world you have your head in the sand.

[Vod]

Not likely

The fiat world will stumble on for another generation or so

If everything were to continue as is, I agree with you.

However, global warming is going to bring more expensive disasters and eventually money is going to run out.

[Bit_Happy]

Not likely

The fiat world will stumble on for another generation or so

If everything were to continue as is, I agree with you.

However, global warming is going to bring more expensive disasters and eventually money is going to run out.

"Climate change" not global warming it was a very long, cold winter. 
...eventually money is going to run out.
Money has already run out, we are running on MT.

[hdbuck]

 

[Sat0shiSlot]

And what would FIAT be replaced with in 5 years??

In 5-10 years they might need to slash 3 zeros from the USD and call it the new dollar.

[Sat0shiSlot]

As far as I can tell, there's no reason to believe fiat currencies/economies are headed for any kind of collapse.

Sure there is: the simple mathematical fact that an ever-increasing expansion of debt (which the current system is based on) is unsustainable.

It has to end, either voluntarily or involuntarily. And since TPTB don't seem too keen on letting the system end voluntarily....

Yes, but things usually drag out for years. The U.S. has had an unsustainable economic policy for decades, but still no revolution. The media is still supporting the current system. Critics have been proven right, but still nobody listens.

[Bonam]

As far as I can tell, there's no reason to believe fiat currencies/economies are headed for any kind of collapse.

Sure there is: the simple mathematical fact that an ever-increasing expansion of debt (which the current system is based on) is unsustainable.

Debt is just a number, a value stored in a computer database. A number can get as big as you want it to get. If you were talking about exponential growth in the use of resources or energy, etc, I'd agree, that's mathematically not possible to sustain forever. But if we're just talking about currency/debt, the numbers can just as easily be quadrillions as billions, can just as easily be 10^100000 instead of quadrillions, and society will look no different.

The number used to enumerate the debt is directly related to usage of resource or energy. It represents deficits in both items.

So, it's not "just a number" at all. It is a symbolic representation of how much resources are used by a particular process. If the numbers don't all add up then society's goals and the means to legitimately attain them will not correspond, a condition called "anomie", which is exactly what our society is currently facing.

Colloquially when people talk about how society is "breaking down", or the family unit is "breaking down" they are referring to this sociological process. People begin to ignore social norms when they figure out they are useless, or worse, detrimental to their own individual interests and thus "society breaks down". Right now it's just people being a littler ruder or ignoring social conventions. But if it gets bad enough even the most deeply ingrained social taboos such as the prohibition against cannibalism, and the social evolution that caused humans to stop looking at each other as a food source could be erased, just like that. 

If you can't see how this relates to the social situation in the developing world you have your head in the sand.

The cost of energy or resources in units of fiat currency changes. We have inflation, etc. Just because there's 2% more currency this year than last year doesn't mean there's also 2% more resources in play... there are many other dynamic factors involved.

In regards to society "breaking down"... people always say this, but there's no evidence of it actually happening. In fact, crimes of almost all kinds are at their lowest in decades in many Western countries. And as for the developing world, wealth is being rapidly created there and a new worldwide middle class of hundreds of millions of people is rapidly emerging.

We are living in the golden age of humankind.