Germany was "forgiven" its WW2 debts which seemed to work quite nicely for you :-)

http://www.guardian.co.uk/commentisfree/2011/jun/21/germany-greece-greek-debt-crisis

I wonder why that doesn't work any more for the Bundesbank ?

@
>>>>But this will serve as an object lesson that anything set aside for securing own old age will be reallocated against your will.
>>
>>That's not the case since property inflates too, as do productive assets and businesses, as do incomes.
>
>But ground property is taxed yearly and over here we have a VAT-type of buy tax, which was 2% in the 80's
>and is now between 3% and 5%. Just reallocating or moving because of job shift will cost you more percentage wise.
>And what is the reason for those VAT-type of taxes ? Filing is not as difficult a process as it was,
>and that was the origin/ previous reason for the tax.
>
>
>>Only cash does not inflate. If those with cash are afraid of inflation, let them invest the $ in productive business or do something useful rather than sitting on it. Seems to me that the demonization of inflation is another selfish act by a previous generation that allowed themselves full benefit of hundreds of percent of inflation but now pull up the ladder behind themselves- again.
>
>GB inflated away WW2 debt, but in what way has our generation "benefited" by inflation ?
>IMV it is just the balancing caused by oversupply. FORCING cash holders to invest only opens the door
>to the snake oil sellers bundling bad paper and selling them as secure (AA+ or higher) investments.
>Or in shares, where the company is raided by emergency credit of a new 15% investor, forcing
>to accept interest of >15% for "emergency credit", silently sucking away company funds,
>leaving other shareholders with worthless shares later...
>
>>
>...
>
>>>>But if you don't trust money to keep value, it will collapse to change added to bartering between goods.
>>We are more than halfway there IMO. And not only proven by the rising value of gold.
>>
>>Serious question: why is it good for society to have some people sitting on cash and insisting that it retains value?
>
>IMO otherwise churning/gambling which you detest even more than me is made necessary.
>What is wrong with the idea of ME deciding when and how much I work and retain the value ?
>If I work double shifts 7 days a week for 25 years to follow up with playing golf at 50,
>living cost paid by me previous effort ?
>
>And yes, I realize that pay not always equates benefit received by employer nor effort spent by employee ;-)
>While the "benefit" of pure money traders is really doubtful in current debt and former banking crisis,
>I am certain that quite often a company benefited more from my work than the difference in pay reflected,
>and I know that some of the programmers with lower hourly rate were trying very hard,
>but just were not up to it, while others decided to goof off more: average or good programmers, but lacked drive.
>
>Similarly serious: what is the benefit of "money"/cash loosing its value compared to other goods ?
>Interest should be compensation for possible loss, not a god-given right.
>Similar to the risk of opening a restaurant, building a biz or investing in shares.
>
>Constantly devaluing exchange worth to keep the illusion of interest alive brought us here.
>And from the previous definition of stability (only 2% inflation at max) already a need for
>dynamic managment was in the system, if you planned for old age at about 40 or 50 -
>rather bleak if you have reason to plan for reaching 90 ;-)
>
>regards
>
>thomas