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<p>[QUOTE=&quot;Cloudsweeper99, post: 788437, member: 3011&quot;]I apologize ahead of time, but I disagree.&nbsp; Most of what you said is standard internet wisdom these days.&nbsp; I&#039;m not going to debate this, but I can&#039;t let it pass.&nbsp; So the following is the other side of the story for anyone who wants to pursue truth.&nbsp; This said, I&#039;m done with this issue.</p><p><br /></p><p>A devaluation is total economic catastrophe.&nbsp; Look at Iceland for the most recent example.&nbsp; There are many others if you look for them.&nbsp; There is no upside for citizens.&nbsp; It doesn&#039;t have to happen, it&#039;s a choice.&nbsp; There are many alternatives to attract permanent productive investment capital to the nation and relieve the debt.&nbsp; They are well known, but have not been taught to the last few generations for reasons not appropriate to CoinTalk.&nbsp;&nbsp; Gold did not create the deflation of the 30s.&nbsp;&nbsp; The confiscation of gold and subsequent devaluation of the dollar created the deflation by removing a significant portion of the purchasing power of citizens from the economy.&nbsp; Maybe we will have hyperinflation.&nbsp; Maybe not.&nbsp; It isn&#039;t inevitable.&nbsp; It is a decision that will be made by the government and their bankers when the time comes.&nbsp; They may choose default instead if it suits their purposes as it did in Iceland.&nbsp; Nobody knows yet, not even Bernanke.&nbsp; Time will tell, and in the meantime prepare for both outcomes.[/QUOTE]</p><p><br /></p>

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