"Time for the mind"

What is wrong with our money? Gone are the days when hard currency was mentioned. When the euro retain its value or soon no longer be worth the paper on which it is printed? If an overnight currency reform as the introduction of the Deutschmark in 1948?

Questions that are more and more people - and to which it is based on historical uniqueness at least as many answers as speculative self-proclaimed experts. Let us try to approach so as to keep one in fact, to those who are reasonably well verified.

The fact is that some nations have debt beyond measure and are on the verge of bankruptcy, such as Iceland, Ukraine and Hungary. However, even within the EU, some candidates have become shaky, first and foremost Greece and Ireland, then Austria (due to his careless Eastern Europe's commitment and the threat of non-recovery of loans), Italy and even Spain and Portugal. What it would mean national bankruptcy asked recently even the FAZ online . What happens when government bonds completely lose confidence? Unlike a commercial enterprise, there are no mandatory guidelines for states, not a regulated procedure to file a bankruptcy or settle ...

Also, the fact is that EU countries will do everything to save the European Monetary Union. For an EU member would run aground, would mean to not wiedergutzumachendem image of the euro immediately. To prevent this, there would be enough "holes in the EU Treaties," one informant told me the other day from central bank circles. Officially announced that under no circumstances would, however, because countries like Greece no longer strained. It should finally be avoided, that must, for example, the German Michel with tax money to pay for Greek mismanagement.

Furthermore, it would mean the swerving of a single EU member state from the exchange network whose demise. For example, the Greeks brought their drachmas out of the basement would be in the foreign exchange market immediately with arbitrage speculation against the currency, that is set on falling prices. George Soros and his cohorts have their "qualities" proven in this regard on several occasions ...

Furthermore, the fact is that the carrying amount of money has risen dramatically in recent decades. As the assets grow always in the same way as the debt is, on the expiry of the current assets considered equivalent to a debt. And should be welcome in the indebtedness of many countries (mid-section to an interesting lecture, there is here ). However, it is also a redistribution of real assets (such as property, land, production facilities, etc.) instead of: possession of the money will not be money, but as a means to an end is ...

The circulating money supply increases happily ever after - and the devaluation of the currency. Just a few days, from the U.S. Federal Reserve over a trillion (!) Dollars reprinted in order to pay the exorbitant debt. History seems to repeat itself, it took a blogger to the point : If a loaf of bread cost soon a million (You may choose the currency)?

The fact is, however, as that is resorted to 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 means of choice, before the German mark replaced the Reichsmark. At that time there were 40 entry fee for each DM. The amount of money spent was kept deliberately 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 replace the already existing in many places and in some cases already proven complementary currencies (zeitgeist reported in issue 1-2007 ) as his example of regional ...

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

Someone once said that our money system has become too complex to understand, it still can. Sometimes it actually seems.

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