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Comment by tootie | Hacker News Reader

I think the absolutely titanic levels of quantitative easing that came and went in the last crisis can only be viewed as an unequivocal vote of confidence in our financial system. Consumers and investors got scared and shut down their buying, but we printed out way back to heaven and no one batted an eye. Fiat currency belongs in the pantheon of history's greatest inventions alongside fire, the wheel and electricity.

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Fiat is the reason why the financial institution is so reckless.

Everyone when there is an issue, the Federal Reserves stepped in, printed money and bailed them out.

The end result, the financial sector gets bigger and bigger over the last few decades. Privatize the reward, socialize the risk.

I agree. Without fiat currency, the US would have crumbled into a pile of blood soaked rubble.

Can't tell if you guys are being facetious or not. The fiat model parallels the currency debasement in ancient Rome pretty well, and it'll probably have similar results.

Inflation is a symptom, not a disease.

It arises out of a recognition that the basis of prior financial obligations on expected return was false.

Options are debt repudiation, inflation, debasement, or collapse.

No it doesn't. Besides the fundamental economic rules of supply and demand, there is absolutely nothing we can learn from looking at ancient Rome that is relevant to the modern world. And honestly, you look really foolish trying to draw a parallel between such a primitive society and anything post-industrial.

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