Stop taxing Gold and people will save in it. I definitely would. In fact, I do anyway. If allowed, the interconvertability of FRNs and Gold would still be speculative. So with that logic the US Treasury will continue on it's merry way and we could have both. Gold wouldn't be "minted" by the treasury, they mint FRNs, but it could be used as legal tender. The constitution prohibits anything other than Gold or Silver to be legal tender. The liberty dollar would be a perfect example of such a system working alongside FRNs. If allowed, the market would likely gravitate to the currency which is a better store of value. Since no law or quasigovernmental body mandates the value of Gold in a particular country, then it would be a truly free market approach to a currency wouldn't it? If it caught on with other countries, it would be a global approach, which would satisfy the globalists who want a universal currency, but it would also be a shot at those who are satisfied with the current system. Migrating to gold wouldn't be a panacea of monetary solutions, but it would put restraint on the current penetration of the FRNs to rob people of normal savings. You can't thin gold out with credit. You can try, but the market will bite you. You can't pull gold or silver out of thin air so whoever does this will eventually have to own up. Truly there is no perfect currency, but one based on actual things would be simpler and more stable.Also, specifically on the fallacy of "OMG, there is not enough gold to support our economy!" should be obvious. Back in the 1800's an ounce of gold was $30. Now gold is $850. The only difference is that there are more dollars now then there were back in the 1800's. That doesn't really change the value of gold.Furthermore, trucking gold around the world would be silly. Now we have speculative co-operations such as Kitco who work with the concept of pool accounts. If you call in the Gold, yes it must be delivered. But that has unnecessary costs involved so I doubt anyone will be doing business with the actual metal. Friedman's assessment of the cost of minting gold as coin currency is known to be impossible.Your arguments are based on assumptions that have not been tested. My arguments fall into the same category. But like you said in another tirade on how idiotic Ron Paul is: "I'm pretty up-to-speed on global finance, fiat currencies, central banking systems, and our vaunted Federal Reserve, and what amazes me is how, in a field that is so vulnerable to criticism and in such dire need of reform," We need reform. I'd love to have a better idea. I've yet to see any other candidate's ideas on fiscal policy other than continuing current trends. So far all I've seen is "well that's why we have advisors".:)
Oh. Almost forgot.. The mere presence of a competing hard currency would persuade the FED to keep FRNs on an even keel if they want to stay competitive. I'm pretty sure we'd all benefit from that. But.. if you like big spending and all the fun involved with the boom part of the business cycle, then hat's off captain. Keep heading toward that iceberg.Talk back Dave. I wanna know what you think.
dude. i'm apparently "off my rocker" with my ideas, but you make me look like concrete block of sanity. if what you say is true, then I should been locked up 10 years ago when I smoked a hell of a lot of head pastries.
seadeusJan 24, 2008
Didn't Romney make his money selling out the U.S.? For those that say he had a business, tell us what kind of business it was, please.
brianfellowJan 24, 2008
Maybe it was one of the FIVE aircraft he trashed.<a class="user" href="http://digg.com/2008_us_elections/McCain_lost_FIVE_U_S_Navy_aircraft">http://digg.com/2008_us_elections/McCain_lost_FIVE ...</a>
muckemuckJan 25, 2008
He certainly looked like an idiot when asked about the PPT in the FL debate.. he was a deer in the headlights and all he could do is name drop.
humptydankJan 27, 2008
Any response to the actual points in the post?
praxisseizureJan 29, 2008
Stop taxing Gold and people will save in it. I definitely would. In fact, I do anyway. If allowed, the interconvertability of FRNs and Gold would still be speculative. So with that logic the US Treasury will continue on it's merry way and we could have both. Gold wouldn't be "minted" by the treasury, they mint FRNs, but it could be used as legal tender. The constitution prohibits anything other than Gold or Silver to be legal tender. The liberty dollar would be a perfect example of such a system working alongside FRNs. If allowed, the market would likely gravitate to the currency which is a better store of value. Since no law or quasigovernmental body mandates the value of Gold in a particular country, then it would be a truly free market approach to a currency wouldn't it? If it caught on with other countries, it would be a global approach, which would satisfy the globalists who want a universal currency, but it would also be a shot at those who are satisfied with the current system. Migrating to gold wouldn't be a panacea of monetary solutions, but it would put restraint on the current penetration of the FRNs to rob people of normal savings. You can't thin gold out with credit. You can try, but the market will bite you. You can't pull gold or silver out of thin air so whoever does this will eventually have to own up. Truly there is no perfect currency, but one based on actual things would be simpler and more stable.Also, specifically on the fallacy of "OMG, there is not enough gold to support our economy!" should be obvious. Back in the 1800's an ounce of gold was $30. Now gold is $850. The only difference is that there are more dollars now then there were back in the 1800's. That doesn't really change the value of gold.Furthermore, trucking gold around the world would be silly. Now we have speculative co-operations such as Kitco who work with the concept of pool accounts. If you call in the Gold, yes it must be delivered. But that has unnecessary costs involved so I doubt anyone will be doing business with the actual metal. Friedman's assessment of the cost of minting gold as coin currency is known to be impossible.Your arguments are based on assumptions that have not been tested. My arguments fall into the same category. But like you said in another tirade on how idiotic Ron Paul is: "I'm pretty up-to-speed on global finance, fiat currencies, central banking systems, and our vaunted Federal Reserve, and what amazes me is how, in a field that is so vulnerable to criticism and in such dire need of reform," We need reform. I'd love to have a better idea. I've yet to see any other candidate's ideas on fiscal policy other than continuing current trends. So far all I've seen is "well that's why we have advisors".:)
praxisseizureJan 29, 2008
Oh. Almost forgot.. The mere presence of a competing hard currency would persuade the FED to keep FRNs on an even keel if they want to stay competitive. I'm pretty sure we'd all benefit from that. But.. if you like big spending and all the fun involved with the boom part of the business cycle, then hat's off captain. Keep heading toward that iceberg.Talk back Dave. I wanna know what you think.
praxisseizureJan 29, 2008
dude. i'm apparently "off my rocker" with my ideas, but you make me look like concrete block of sanity. if what you say is true, then I should been locked up 10 years ago when I smoked a hell of a lot of head pastries.
whodat51773Jul 11, 2008
Phil Gramm is RIGHT! You want a recession? Elect OBAMA you'll not only have a recession you'll have a full blown depression!