I wanted to see what your positions on the current system (with fiat currency) against the gold standard.
To me, the current system just represents a way for the gov't to pay off debt without actually taxing the people more. However, the detrimental effects of this are higher prices for consumers. The gov't has used this system to take advantage of the American consumer numerous times. My question is: why were we taken off the gold standard in the first place, and what are the main arguments for it?
Well the gold standard just cant work anymore becouse there is simply more currency in print then gold owned by the government.
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Nyarlathotep must all things be told
for he is the messenger between the spheres
and the traveler between the realms of the living and the dead.
He shall summon forth the ancient ones
and wake them from their deathly slumber
then shall the elder signs be shattered. Trade Thread
some_bloke: The wikipedia article is a decent starting point for learning about the gold standard. It highlights some of the inherent problems and some of the reasons to prefer it.
The gold standard is inherently unstable, because the price of gold is. Having our currency tied to gold would make our currency itself unstable.
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Sing lustily and with good courage.
Be aware of singing as if you were half dead,
or half asleep:
but lift your voice with strength.
Be no more afraid of your voice now,
nor more ashamed of its being heard,
than when you sang the songs of Satan.
Actually, having our economy on a gold standard makes it more stable, because you can back the money up with something real. "Cheap money" economies back it up with the strength of their country, and if the country isn't strong at the moment, the value of the currency dips.
The gold standard unfortunately isn't applicable now. The U.S. just doesn't have enough gold to back up all the currency it uses. Also, by using "cheap money", it helps people to pay off debts and the ilk, since on a gold standard only the rich and the moderately wealthy would have any money to back themselves up.
Actually, having our economy on a gold standard makes it more stable, because you can back the money up with something real. "Cheap money" economies back it up with the strength of their country, and if the country isn't strong at the moment, the value of the currency dips.
The gold standard unfortunately isn't applicable now. The U.S. just doesn't have enough gold to back up all the currency it uses. Also, by using "cheap money", it helps people to pay off debts and the ilk, since on a gold standard only the rich and the moderately wealthy would have any money to back themselves up.
No, it would go "A dollar is worth a pound of gold" and since the value of a pound of Gold fluctuates with season and market fluctuations inherent to any mined material, it would mean that one day the dolar is worth twice what it's worth the next.
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I have no extendo-sig. Sorry, I'm just not vain enough to think someone will click on it.
It's not "just" a shiny rock. Gold has some very desirable properties for a metal. It's one of the most malleable metals around, it's a good electrical conductor, it's very resistant to most corrosives, it has a high density, and forms alloys with many other metals. It's a very useful metal for many purposes.
This site is backed by a goldsmithing consortium but is nevertheless full of information on the versatility and utility of gold.
Gold and platinum, because they are excellent conductors at ambient temperatures and are rust- and oxidation-resistant, are the materials of choice for chronic implanted biomedical devices and electronics, such as pacemakers, defibrillators, nerve and muscle stimulators, and bioelectrical sensor arrays, to name a few.
To me, the current system just represents a way for the gov't to pay off debt without actually taxing the people more. However, the detrimental effects of this are higher prices for consumers. The gov't has used this system to take advantage of the American consumer numerous times. My question is: why were we taken off the gold standard in the first place, and what are the main arguments for it?
for he is the messenger between the spheres
and the traveler between the realms of the living and the dead.
He shall summon forth the ancient ones
and wake them from their deathly slumber
then shall the elder signs be shattered.
Trade Thread
Be aware of singing as if you were half dead,
or half asleep:
but lift your voice with strength.
Be no more afraid of your voice now,
nor more ashamed of its being heard,
than when you sang the songs of Satan.
The gold standard unfortunately isn't applicable now. The U.S. just doesn't have enough gold to back up all the currency it uses. Also, by using "cheap money", it helps people to pay off debts and the ilk, since on a gold standard only the rich and the moderately wealthy would have any money to back themselves up.
No, it would go "A dollar is worth a pound of gold" and since the value of a pound of Gold fluctuates with season and market fluctuations inherent to any mined material, it would mean that one day the dolar is worth twice what it's worth the next.
I have no extendo-sig. Sorry, I'm just not vain enough to think someone will click on it.
From out that wine-dark fog,
And spake he unto all our crew:
"Go forth, and read my blog."
How so? It's just a shiny rock. There's no innate value to it- you can't use gold to treat diseases, you can't eat it, etc.
By kingcobweb and Goblinboy.
Official Elitist of [thread=40859][RBS][/thread]
Gold salts and malaria
Gold compounds have long been a treatment for rheumatoid arthritis
and have direct anti-inflammatory properties
Gold and silver leaf are used in decorating exquisite cakes for Indian festivals
This site is backed by a goldsmithing consortium but is nevertheless full of information on the versatility and utility of gold.
Gold and platinum, because they are excellent conductors at ambient temperatures and are rust- and oxidation-resistant, are the materials of choice for chronic implanted biomedical devices and electronics, such as pacemakers, defibrillators, nerve and muscle stimulators, and bioelectrical sensor arrays, to name a few.
Aside from some of the things Snoop and Fade mentioned, I was just joking.
From out that wine-dark fog,
And spake he unto all our crew:
"Go forth, and read my blog."