ECB close to printing money to battle spiraling deflation

crypto_coiner 2014-12-06 10:46:06 UTC #1

Cybnate 2014-12-07 02:44:14 UTC #2

Unprecedented in Europe. Money printing to stop deflation. Anyone still saying everything is fine with fiat?

Only positive thing is that more people will look into alternatives. These developments are not helping NuBits being pegged to USD or EUR and CNY later. It is just transitional for the adoption phase. A real stable currency will have to be backed by a basket of goods and assets, unfortunately we are still missing all the tools to do so.

So USD, CNY and EUR, just hang on there for a bit longer, please

Chronos 2014-12-07 03:03:10 UTC #3

Would we rather have nothing stop deflation? The best course of action is not clear for the central banks.

Cybnate 2014-12-07 03:36:45 UTC #4

I’m not sure what the best way is to deal with this, there are people out there who have studied this for many years and they still don’t know. Japan has been battling deflation for a while now with a shrinking economy.

It only shows to me that the system is behaving unexpectedly and different than it did in the last 40 odd years. That is not helping me in being confident about the situation.

lg15x 2014-12-07 12:09:52 UTC #5

Gold is mostly used for backup.

RobertLloyd 2014-12-08 00:33:45 UTC #6

Deflation must happen, so let it happen. Won’t be pleasant, but we should not have taken out all that debt in the first place

Cybnate 2014-12-08 07:51:53 UTC #7

Do you have a source for that statement? And with what would they buy the gold with? Asset sale? Would be good to understand this monetary policy as it can be a lessons-learnt for our shareholders.