o god, howard dean is borderline socialist and will never think a free market economy will work. And no its not impossible at all. People think that a gold standard is too old fashioned to keep up with todays instantaneous world. Nothing could be further from the truth. The fact is, that the central banking concept has been the economic collapse of every nation that has used it. We are next in line and it looks like its our turn to get on. Governments have usually stopped using the gold standard when they are about to go to war and they need quick printed money to fund the war. After said war is over though, they find the central banking concept very addicting and decide to create money out of debt. This always spells ruin for any government.Lets take all the reasons u used for not being able to go back to a gold standard:
Something that has no practical use. What do u mean by this? Do u mean using gold that isnt already being used for something else? If thats what u mean well then, the primary purpose of gold has almost always been to back currency, until the creation of central banks of course.
Is impossible to create synthetically. It is ok to create bills that are backed by gold, otherwise known as receipt money. And if ur talking about counterfeiting, then that will always be a problem no matter what the monetary system is.
Large enough quantity for the entire system. Once again. ANY AMOUNT OF GOLD WIL DO. the amount in circulation will set the stage. Lets say for example we have a million pounds of gold to back our currency on. Our currency would BASED on that amount of gold and prices would naturally adjust to the gold standard. If we had 10 million pounds of gold, the amount of currency in circulation would be greater and so would prices, then the inflation would not occure, there would be no national debt and markets could adjust to the labor retail ratio.
I dont need to explain how much of a force we would be to reckon with if our money was backed by gold and most other nations in the world werent. The investment in our currency be of awesome proportions.
for the last time, it won’t fucking work. people would start hoarding gold since your idea would start to drive the price to the moon, and the idea would fail. the end.
Some asshole in N. Korea finds a giant gold deposit? Our currency is fucked.
We have an emergency and need to expand the money supply? Everyone jacks the price of gold on us and it fails.
Inflation or deflation is too prevalent? Too bad, the amount of the currency is based on arbitrary amounts of stupid metal.
Gold plated cables and electrical equipment? Nope. They would become so expensive it owuldn’t be realistic to use.
ive just given several reasons and base points as to why the prices wont skyrocket. Inflation is what causes prices to skyrocket, well in reality the prices dont go up, the dollar is devaluated, either way its a bad thing. And hording would not happen because eventually people need to spend money on at least the essentials, also hordeing wouldnt necessarily be a bad thing. In a free market economy the prices would adjust and the people who truly just horde, would realize that theyre hordeing isnt doing anything, and they would eventually spend to. But, i just was trying to make the point that trying to say that going back to it is impossible is proposterous, although i know it will never happen, it deffinitly could if we wanted to.
Most of the gold in the world is held outside of the United States. How exactly would buying it up at 10x what it’s currently worth not cause a huge mindfuck deficit?
I restate my original argument. Going back to it is impossible without ruining the U.S. economy. Even your buddy Ron Paul will tell you that.
Speaking of gold, did anyone see that show last weekend about a gold mining operation?
They have huge equipment and explosives that digs up the earth and they process the gold from it. It takes tons and tons and tons of dirt just to get a little nugget. Crazy stuff.
Fun fact: Dr. Paul is an MD, not a PhD of Economics, which is what I thought he was.
I don’t know a whole lot about him so I just read the wiki page on him. Gotta give him credit for at least being a republican who knows why he’s a republican. There doesn’t seem to be many left.
These threads always end up the same, a bunch of people post some opinions/links, Joe comes in, calls everyone dumb and it ends with fry making a joke or two.
These threads are always posted by dumb people. The minute I call them out, they either make some stupid argument back that digs them deeper or just disappear.
Notice ecoshardcore made an argument for a viewpoint contrary to mine, but it was well-thought out and made sense. I never called him dumb and actually said we should get beers some time. I have no problem with people opposing me, but they need to make sense. Most of this crap doesn’t quite fit that standard.
Also notice that if all this bill is is auditing and transparency, and it does so in a realistic manner that doesn’t just try to undermine the Fed, I’m actually for it.
Meh, I was just speaking in general every economy/political thread follows the same procedure of events. From my standpoint I couldn’t comment on who is right or wrong as I don’t know enough about the subject to form a reasonable opinion. I just think it’s funny how these threads play out. It’s a shame that the issues our country has are so surrounded with misinformation, makes it hard for someone to learn about the issues let alone the solutions.
holy shit, yes the man is an md, but he has read more about gold money and the austrian theory of economics and ludwig von misses than any one else in congress. he is an expert in the subject of monetary policy
i noticed that too. People are finally starting to agree with him, when they have no other options left and when it is way too late to fix nething. Not to metnion that if it does pass, it will take forever to get the auditing done, the auditers will be government selected and the findings will be falsified, but, whatever.
