Archived

This topic is now archived and is closed to further replies.

Donald Trump blasts Ron Paul at CPAC

128 posts in this topic

Posted

You raise a good point. Gold and other precious metals are by no means perfect, but they have proven to be dependable assests over the thousands of years of trade. If we were to find a ridiculous amount of gold, then yes, the value of it would essentially go down...but that isnt necessarily the point. The point is the failure to back an inherently worthless fiat currency ultimately leads to the currency's expliotation and abuse. It becomes a free for all at that point, which we have all witnessed and suffered from over the years with our current economic situations. It would take finding a lot of gold for its value to endure the 98% loss the dollar has suffered since its inception.

I think you might just be barking up the wrong tree. I don't think the backing of currency has much effect on it's ability to be manipulated. We certainly have a large amount of economic equality today, but it's better than it has been in any point in human history. The world economy is backed by the dollar, which is backed by the government, which is backed by the people(taxes on the people). That's where the real wealth is. It's not a numerical value, it's the land, labor and innovation of the people that's backing up the currency.

It does theoretically create infinite inflation, but as long as you realize the absolute numerical value is irrelevant, then it's all good.

Share this post


Link to post
Share on other sites

Posted

We could base it on U.S. govt. contracts...I hear those are worth #*&@-load $$$$$$$$!$!$!$!$!$

Share this post


Link to post
Share on other sites

Posted

I think you might just be barking up the wrong tree. I don't think the backing of currency has much effect on it's ability to be manipulated. We certainly have a large amount of economic equality today, but it's better than it has been in any point in human history. The world economy is backed by the dollar, which is backed by the government, which is backed by the people(taxes on the people). That's where the real wealth is. It's not a numerical value, it's the land, labor and innovation of the people that's backing up the currency.

It does theoretically create infinite inflation, but as long as you realize the absolute numerical value is irrelevant, then it's all good.

The dollar as the world's reserve currency is the only reason why it's still alive. Soon this will change, as the IMF has begun discussing the replacement for the dollar as the world's reserve currency.

I would disagree, and argue over all we are nowhere near that of the producers we used to be, especially compared to the glory days of the industrial revolution. A large percentage of jobs have been outsourced overseas, and China has surpassed us as the world's largest economy. I will say that we can thank most of this country's production to the military industrial complex, we're really good at making bombs and blowing sh*t up. Unfortunately I dont know how long it will be before we have to hand it all over to China, being they pretty much own us. Not before a good fight though! Our credit-based economy has led to the banks' selling us down the river. I guess in the end all economic theories are rendered worthless if its systems are infected with corruption.

Share this post


Link to post
Share on other sites

Posted

i would do rons' bidding, right theedaddy?......:coolgleamA:

yes sir. nice to see you back...... good to be among thee living.:hurray::Chevy_anim::devil::Chevy_anim::hurray::D

Share this post


Link to post
Share on other sites

Posted

We could base it on U.S. govt. contracts...I hear those are worth #*&@-load $$$$$$$$!$!$!$!$!$

yes. big issues hence me being pissing, now dumdiee a fing bear fan is runnning heir mouth. i know thee windy city, BIG PROBLEMS THEIR TOO........

Share this post


Link to post
Share on other sites

Posted

hahahahahah theedaddy youre hilarious

Share this post


Link to post
Share on other sites

Posted

owned??? youre funny.

You're a guy who told me you listened too, and believed Glenn Beck. Nobody on here takes you seriously after that statement.

Share this post


Link to post
Share on other sites

Posted

http://www.cnbc.com/id/40088925/Roubini_Here_s_Why_a_Gold_Standard_Won_t_Work

The discussion section is also interesting.

It seems that the Gold Standard works to hinder banks and governments from printing their way out of problems. But the negative there is it also prevents them from "helping".

Not sure they ever help.

My undergrad degree is in, of all things, econ, believe it or not.

I've heard decent arguments on both sides.

I'm still thinkin' about it. :D

A gold standard would just make business cycles more extreme, according to co-founder and chairman of Roubini Global Economics, Nouriel Roubini.

Photo: Oliver Quillia for CNBC

Nouriel Roubini

--------------------------------------------------------------------------------

What's more, a gold standard would make central banks unable to fight inflation or deflation, much less do anything to combat persistent unemployment, Roubini said in an interview with NetNet yesterday.

"A fixed exchange regime, even if it is not a gold standard… that world just doesn't work. Because in that world, monetary policy by definition instead of being countercyclical becomes procyclical," Roubini told NetNet. "Suppose you have a fixed exchange rate regime...it just exacerbates the business cycle."

Roubini asks us to imagine two countries: One that's growing very quickly, and one that's growing very slowly.

The economy that is growing quickly would tend to "overheat"—an economic phenomenon characterized by accelerated growth, inflation and the potential for asset bubbles. In the economy that is growing more slowly, there would be a tendency toward deflationary pressure and recession. So, instead of having a central bank with the capacity to successfully counter-balance these tendencies, an economy with a fixed exchange rate regime would continue to reinforce the existing negative trends in the business cycle, Roubini argues.

Although he is best known as an economist who challenges conventional views, Roubini pretty well lines-up the consensus view of mainstream economics on the gold standard or fixed exchange rate regimes: "You have the opposite of what any optimal rule about monetary policy will tell you," Roubini said.

Share this post


Link to post
Share on other sites

Posted

jheykm.jpg

Share this post


Link to post
Share on other sites

Posted

Looks like my family reunion.

1 person likes this

Share this post


Link to post
Share on other sites

Posted

You're a guy who told me you listened too, and believed Glenn Beck. Nobody on here takes you seriously after that statement.

youre probably one of the most obtuse and condescending people on here. haha yea sucks no one takes me seriously, but i'll talk circles around your juvenile thought process all day long. doesn't show much for you in the end eh? so glad we have such open-minded people like you on here, no tunnel vision one iota. ha.

Share this post


Link to post
Share on other sites