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Posts from Anonymous, Singapore

Anonymous, SingaporeAnonymous, Singapore
Anonymous, Singapore

"I'd like to know what this quote, in its original tongue"...... As I have heard the Buddha's saying goes as: “Hatred is never appeased by hatred, hatred is appeased by love. This is the eternal law"

Anonymous, Singapore

Mr Waffler, Voltiare was a philosopher - can you not see the irony implied by his sentence:))))))) Seriously, this is one of the smartest quotes out of one of the smartest men, who's ever walked the earth, so please - don't make a fool of yourself trying to somehow rationalize it:)))

Anonymous, Singapore

I hope people who are guilty of this will take a moment to do some self-reflections.

Anonymous, Singapore

Paper does serve its purpose of being a common agreed medium for the exchange of goods and services. And so was tally sticks as money in the 1100s -1800s England. Paper money has its beginnings as gold receipts. People would deposit their gold with goldsmiths who would issue them a gold receipt. These paper receipts were more convenient to carry around for trade as oppose to carrying around gold/silver coins. But as time passes, these goldsmiths started making gold receipts for gold that didn't even exist. Naming it "fractional reserve banking" And as paper moves away from its purpose, at the end of the day, its value is not from gold (true tangible assets) but its value lies in confidence of the people in the government that backs these paper money. And to Voltaire, to have a paper currency backed just by confidence is not true assets. Bringing the issue back to USA today, with Ben Bernanke printing money out of thin air to buy T-bills, it is really hard to have confidence in the US dollar. Looks like the FedBank is debasing the dollar fast.

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