Going Back on the Gold Standard?

[Nat Algren]

Check out the rates of inflation on this chart by The Minneapolis FedRes. Inflation prior to 1913, when the Fed was created, was non-existent. Since then, our dollar has been destroyed. 98% of purchasing power was stolen to the benefit of the 1%. The government has changed the way the CPI is calculated 9x's in 12 years. They took food and energy out of the equation. So, as long as you don't eat and drive a car, you'll be okay. Know anyone like that?

https://www.minneapolisfed.org/comm...culator-information/consumer-price-index-1800

 

[Nat Algren]

Your argument for a gold standard is dumb and reckless...you've been hoodwinked!


http://www.theatlantic.com/business...orlds-worst-economic-idea-in-2-charts/261552/

Keynes and Lenin say you have been snockered. The funny thing is, you're doing the bidding for the Elite who laugh at you.

 

[Nat Algren]

Your argument for a gold standard is dumb and reckless...you've been hoodwinked!


http://www.theatlantic.com/business...orlds-worst-economic-idea-in-2-charts/261552/

5,000- 110. Do the math.

 

[unIowa]

5,000- 110. Do the math.

I will take the last 100 years over your 5,000 years.

 

[Nat Algren]

I will take the last 100 years over your 5,000 years.

Just a blip. It is being exposed right now and we are at war with countries who decide to run from the dollar.

 

[strummingram]

I will take the last 100 years over your 5,000 years.

That's where you're getting raw-dogged, too. At least you're admitting it openly. I think Nat has provided you an ABUNDANCE of evidence, circumstances and information that explains, in great detail, how "money" needs to be a medium of exchange and a store of value. The buying power of the currency is being debased. To simply focus on "the free-flow of cash" as an incentive is very short-sighted and fails to address how your currency is being purposely debased. You have to work harder, longer and spend more dollars for the exact same items, goods and services as this debasement continues. Not to mention a perpetual loss of private property of anything that really matters.

 

[Nat Algren]

Kotlikoff says we are $226 TRILLION in debt when you factor in unfunded liabilities and pensions. It can't and won't sustain itself.

 

[NoleSoup4U]

I find it interesting that throughout history the penalty for debasing the currency has, in almost every country, been the death penalty, yet we allow these bankers to debase our currency at will.

 

[NoleSoup4U]

Kotlikoff says we are $226 TRILLION in debt when you factor in unfunded liabilities and pensions. It can't and won't sustain itself.

And that's the elephant in the room. When people talk about the debt they don't include unfunded liabilities.

 

[unIowa]

And that's the elephant in the room. When people talk about the debt they don't include unfunded liabilities.

And that didn't happen bc we went off the gold standard...that happened bc of greed. Greed of money and greed of power.

 

[NoleSoup4U]

And that didn't happen bc we went off the gold standard...that happened bc of greed. Greed of money and greed of power.

You couldn't have given into the greed if you were still on the gold standard. Greed had it's place too, but it isn't the only issue involved.

 

[unIowa]

So were you goldies hoping for massive deflation during the great recession or are you just looking at putting up a current backstop on today's dollar purchasing power?

 

[NoleSoup4U]

So were you goldies hoping for massive deflation during the great recession or are you just looking at putting up a current backstop on today's dollar purchasing power?

It doesn't matter because it isn't ever going to happen. Too many bankers are making billions off the debt. It isn't going anywhere.

 

[unIowa]

You couldn't have given into the greed if you were still on the gold standard. Greed had it's place too, but it isn't the only issue involved.

There really wasn't anything in place that would have kept govts from devaluing their currency even when on the gold standard, they simply could have changed the reserve requirements. Then in exchange we get large short term price fluctuations.

 

[unIowa]

It doesn't matter because it isn't ever going to happen. Too many bankers are making billions off the debt. It isn't going anywhere.

I believe the money supply needs to grow as populations and economic output grow...call me crazy. I prefer more risk via capital investment and lending vs less risk. Risk has rewarded our economy and standard of living greatly.

 

[unIowa]

Alright i am out of this conversation as we are entering circular arguments zone but i do thank you goldies for the debate. We see this one totally differently but i do understand and respect why you view things the way you do and your commitment to those views...i just see more harm than help in your approach.

Doesn't mean there isn't a better way to how we are doing things now and how we have done them in the past. I will be up for another gold debate in 4-6 months.

 

[strummingram]

As NoleSoup said, it won't matter or even be worth debating. Monetized debt is the way it will be until it collapses.

 

[Nat Algren]

I believe the money supply needs to grow as populations and economic output grow...call me crazy. I prefer more risk via capital investment and lending vs less risk. Risk has rewarded our economy and standard of living greatly.

This is what has been happening. It's called inflation. When they shrink the money supply, as the Fed did in the 20's when they shrunk the money supply by 30%, the economy crashed. The public be damned.

 

[The Tradition]

You do realize that i was saying that cash flow (not just $1 or $35) is a more valuable resource than gold.

It appears that cash flow valuations have out performed gold.

Your argument isn't on point. If you're trying to make money (and have time) the market is the place to be for sure. But if you're trying to keep your wealth and don't want to lose any of it, gold or some other investment in something with intrinsic and liquid value is better, because unlike a stock, it'll never be worthless.