Yeah, and that reason is 'deficit spending.' Under a gold standard, gov't must tax its citizens one dollar today to spend one dollar tomorrow. Under fiat, they can do it in reverse, and the people never know.
Given your understanding of the political expediency of entitlement programs, I'm surprised you refuse to accept these basic monetary truths. I guess it's because most inflation happens because of war spending, and we can't go criticising that now, can we?
well i can't rant about it as good as the greenspan rant i put above
what he says is how i feel on this here issue
inflation isn't the problem the problem is the inflation is created due to massive government spending/taxing.....its slowly raping us the average joe one little bit at a time.....as long as we good little sheep and they can keep our faith in the system high
respond to greenspan's rant and tell me where he is in the wrong
:grandmais
whether it be for destructive technology or creative science
which is the major battleground in todays world, off topic
how do you finance technology that increases the standard of living of all?
you cant without an exerted effort to find more gold.
Who pays for the exploration?
At least oil exploration gives you something tangible that can be applied to another output. Energy is never lost.
But finding new gold would be negative ROI just to have a medium for trade and commerce.
Backwards.
Hold onto it to hedge inflation all you want.
which is the major battleground in todays world, off topic
how do you finance technology that increases the standard of living of all?
you cant without an exerted effort to find more gold.
Who pays for the exploration?
At least oil exploration gives you something tangible that can be applied to another output. Energy is never lost.
But finding new gold would be negative ROI just to have a medium for trade and commerce.
Backwards.
Hold onto it to hedge inflation all you want.
here's why gold has been chosen by man over the course of mankind and economies
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"Whether the single medium is gold, silver, seashells, cattle, or tobacco is optional, depending on the context and development of a given economy. In fact, all have been employed, at various times, as media of exchange. Even in the present century, two major commodities, gold and silver, have been used as international media of exchange, with gold becoming the predominant one. Gold, having both artistic and functional uses and being relatively scarce, has significant advantages over all other media of exchange. Since the beginning of World War I, it has been virtually the sole international standard of exchange. If all goods and services were to be paid for in gold, large payments would be difficult to execute and this would tend to limit the extent of a society's divisions of labor and specialization. Thus a logical extension of the creation of a medium of exchange is the development of a banking system and credit instruments (bank notes and deposits) which act as a substitute for, but are convertible into, gold."
-greenspan, who is partially responsible for the current mess we have now.....they grow senile in their old age....
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"Whether the single medium is gold, silver, seashells, cattle, or tobacco is optional, depending on the context and development of a given economy. In fact, all have been employed, at various times, as media of exchange. Even in the present century, two major commodities, gold and silver, have been used as international media of exchange, with gold becoming the predominant one. Gold, having both artistic and functional uses and being relatively scarce, has significant advantages over all other media of exchange. Since the beginning of World War I, it has been virtually the sole international standard of exchange. If all goods and services were to be paid for in gold, large payments would be difficult to execute and this would tend to limit the extent of a society's divisions of labor and specialization. Thus a logical extension of the creation of a medium of exchange is the development of a banking system and credit instruments (bank notes and deposits) which act as a substitute for, but are convertible into, gold."
-greenspan, who is partially responsible for the current mess we have now.....they grow senile in their old age....
same people exploring now do it for an end, or if they hold a future.
whats that end? dollars and cents.
if you replace fiat with gold...then gold takes on to itself an entirely different meaning.
So you pay to explore and find an intangible medium that today we simply print
gotcha sounds like a good ROI.
GDP = Production. nothing more.
If technology increases production then economy grows
whats that end? dollars and cents.
if you replace fiat with gold...then gold takes on to itself an entirely different meaning.
So you pay to explore and find an intangible medium that today we simply print
gotcha sounds like a good ROI.
GDP = Production. nothing more.
If technology increases production then economy grows
as the economy expands and grows bigger demand for gold grows
because your currency is backed by gold and you need more gold in the vault
all gold is doing is giving your currency tangible value....it protects the average citizen from confiscation of wealth by the powers that be.....if times get tough he can exchange his paper for actual gold if he pleases......
because your currency is backed by gold and you need more gold in the vault
all gold is doing is giving your currency tangible value....it protects the average citizen from confiscation of wealth by the powers that be.....if times get tough he can exchange his paper for actual gold if he pleases......
you gold haters still aren't making the case for fiat that even tizgloom can kinda see and makes a little bit of sense
i'll try to let you figure it out LOL
i don't really believe it personally but i'm never really sure of anything....and it doesn't help the world at large it sends more people to the poor house....but helps us american's....that's a little hint
i'll try to let you figure it out LOL
i don't really believe it personally but i'm never really sure of anything....and it doesn't help the world at large it sends more people to the poor house....but helps us american's....that's a little hint
Why would anyone advocate a currency that would only make us slaves to international gold mining cartels? Isn't our current dependency on black gold more than enough? (As opposed the current solvent system that is based on production -- or as tizdoom put it, a "faith-based currency")? :think2: 
hno:
And yes, X, of course defending your country and interests around the world trumps everything -- especially your brand of economics. No price is too high for freedom. But you know as well as I do that war spending will not ruin us -- entitlements and other wasteful govt projects will.
Why do all pacifists mysteriously evolve into gold bugs? Could their irrational, emotional "anti-war" bias have led them down this -- if you'll pardon the pun -- yellow-brick road? Nah, couldn't be. :missingte
hno:And yes, X, of course defending your country and interests around the world trumps everything -- especially your brand of economics. No price is too high for freedom. But you know as well as I do that war spending will not ruin us -- entitlements and other wasteful govt projects will.
Why do all pacifists mysteriously evolve into gold bugs? Could their irrational, emotional "anti-war" bias have led them down this -- if you'll pardon the pun -- yellow-brick road? Nah, couldn't be. :missingte
fair enough romo fair enough
tizgloom understands the big picture he just like shaking things up a bit and gaining understanding to it all
don't worry he's just an observer not a revolutionary
either way though the system is flawed and will fail
at some point who knows when US will no longer exist....just the plight of mankind and nations in general
tizgloom understands the big picture he just like shaking things up a bit and gaining understanding to it all
don't worry he's just an observer not a revolutionary
either way though the system is flawed and will fail
at some point who knows when US will no longer exist....just the plight of mankind and nations in general
of course joe you read my mind almost said that myself LOL
i just like understanding it all like i said
and i honestly as much as i talk i have mixed emotions about it all in the end being a spoiled american compared to the rest of the world
just not sure how people who actively take a roll in keeping the status quo going can live with themselves
that said will be interesting to see how tizgloom's forcasted economic troubles play out and how all the various parties respond to it all
i just like understanding it all like i said
and i honestly as much as i talk i have mixed emotions about it all in the end being a spoiled american compared to the rest of the world
just not sure how people who actively take a roll in keeping the status quo going can live with themselves
that said will be interesting to see how tizgloom's forcasted economic troubles play out and how all the various parties respond to it all
Not to mention birds in the sky like this...
A dozen or so of these...
thousands of these...
hundreds of these...
US subs patrolling the Pacific keeping the Chinese honest about Taiwan...
And so on and so on and so on....
When you're the world's military superpower, over the LONG TERM, your fiat currency is as good as, errr, gold.
And that, my friends, is why the Land of the Free and Home of the Brave will rule the planet for as long as I live ,why our fiat currency will endure and one of MANY reasons why Barack Obama cannot be allowed to win this coming Nov.
This argument flies in the face of history. Are you saying that there was no progress - nada zilch - during the first 300 years of American history, prior to 1913? How about from the absolute very beginning of gold money all the way to 1913? Still nothing??
I think some Cro Magnans, Egyptians, and Gentiles might disagree with you.
The gold standard requires firms to increase efficiency in order to increase their profit margins (raising prices would not be acceptable to the market). Efficiency in turn leads to price decreases and/or improved products. Under fiat, you always have price increases (why is this considered a good thing?) We have come to believe that price increases equal growth, when they do not.
So, under a gold standard you have this: one hundred dollars today buys you the same thing or (likely) more one year, ten years, or even one hundred years from now. You cannot say that about fiat.
How is that progress?
