Coming To Grips With The End Of Commodity-Based Money

Discussion in 'Economy' started by mascale, Nov 26, 2012.

  1. mascale
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    mascale VIP Member

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    No university, anywhere on earth, will allow any further discussion of the Concept of the Total Credit Market, tabulated at US Federal Reserve. President Gerald Ford was actually a friend of my uncle's, so I myself was no monkey's uncle(?)! (Evolution is still a Theory, and we have current events to consider as a part of the contrary evidence(?)!) I myself would commence disucssing The Total Credit Market a lot. Some of that, however, was in the administrative law based, U. S. Tax Court. Indiana University actually declared the doctoral program at "impasse," years before. Then slowly. . .in only recent weeks. . .the Republicans have started to crawl out from the muck of commodity-based money. In effect, the bills of the United States--a part of the Total Credit Market--have to be paid.

    GOP resistance to anti-tax pledge grows - CNN.com

    Jesus would talk of a denarius in Matthew 20:1-16. In Matthew 25:14-30, the same fellow allegedly discussed various amounts of talents, probably of silver. Both currencies were commodities. Coincidentally--and not widely mentioned--is that both were denominated of any human value through the use of arithmetic. Only in the last 150 years would philosophers of mathematics show arithmetic to be an entirely logical system. General Systems Theory of the 1950's would introduce arithmetic-based systems, each with a zero point.

    "Socialist Systems" became a benchmark of the left, and including in the Soviet Bloc. The United States was found more able to sustain both a military and a consumer-oriented economy: Even though the 1963 Gold Standard end had long-since passed. Money worked just fine, needing no basis in any commoditiy on earth.

    Great Marshall McLuhan(?), or someone, would note that zero was actually not a known concept among ancient peoples. In fact, money had become a medium of mass communication. Zero is less of a concept in "cool" tactile, ancient-based kind of participatory incentive based, inclusive society. The Medium itself could become the Message. Anyone can allege that since actually, McLuhan generally: Makes no sense to anyone at all, when subjected to traditonal analysis(?).

    So let Jesus be a Greek-based, geometry-thinking kind of rabbi. Let Matthew 20:1-16 be a rectangle with time points on the left-side horizontal. Let "dots" perpendicular to the line represent some value of a denarius, in equal amounts. Let Matthew 25:14-30 be a fixed percentage-based raise of income to that household. Draw in the left-right diagonal from the bottom to the top in the Matt 20 created rectangle. The Pythagorean Theorem can be applied. Then in the modern context, there can be customary "production-currency" of the commodity and asset kind credit market current on the one side of the box. There can also be "income-support" credit of no commodity or asset basis whatsoever on the other side of the box. The right side triangle essentially--takes up the market-purchasing slack--which the traditional kind of market economy does not support. Even recently--noting that Evolution is Just A Theory--The poor were unable to pay the mortgages. The rich houses all came tumbling on down. The Republicans actually sent money to the banks in some bizarre support of a "job well done(?)!" This was a primitive peoples--if at all(?)!

    The banks had to be able to even repay one another. The LIBOR rates came down.

    Reagan had taken what deficit there was, and had sent it off to rich contractors. Obama would soon taken what deficit there was, and send a third of it at least to the state and local bureucratic predators: Of the tax money. The Make-Work-Pay-Refundable-Income-Tax-Credit would do what Bush-Cheney-Paulson-Geithner had not done. The lower income market would be supported. A state and local tax base would be fueled. "Cash-For-Clunkers" would do the same thing, especially for muncipalities like Santa Monica, CA. reliant on local sales. Public works got stalled in the process. The famous roof on the crappers in the meadow near Mammoth Lakes, CA, became, "The Great Work," that was done. Following the midterms, the Tea-Crazy backed GOP would take that away(?)! Obama and the GOP would agree to a payroll tax holiday to replace it(?). "It" was the Make Work Pay Tax Credit. Understanding slowly could happen.

    Mostly, a credit-market basis for discussing both markets and currency had been set up!

    Now there are even Republicans who thank Obama-Biden for all the gifts that so many have received in our recent economy. Mostly there are others, like in the link, willing to possibly do arithmetic, with what currency there is: At about $55.0 tril. The general idea of a thriving market economy is to spread the stuff around!

    "Crow, James Crow: Shaken, Not Stirred"
    (Many come to learn that Chumash not narcotic after all: Even on Lands of Many Nations(?)!)
     
    Last edited: Nov 26, 2012
  2. TakeAStepBack
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    TakeAStepBack Gold Member

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    The gold standard ended in 1971.
     
  3. mascale
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    mascale VIP Member

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    Consider that only five years ago the Euro was thought more valueable than the dollar. The end of any commodity-basis of currency redemption in the United States--gold or silver--was starting in 1963. Then in 1971, the international community would no longer be able to redeem US currency in gold. "Payable to Bearer On Demand" language disappeared starting 1963.

    "Crow, James Crow: Shaken, Not Stirred"
    (Agave Worm not just pretty face, in Tequila bottle, even(?)! "Take this and eat it. . .in rememberance(?). . . .(?)!)
     
  4. TakeAStepBack
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    TakeAStepBack Gold Member

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    and so there was still a gold standard until Nixon retired it in 1971.
     
  5. mascale
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    mascale VIP Member

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    People who controlled the minting of money were around before Jesus had occasion to deride them. Julius Ceasar had created a money-changer state: Essentially controlling it, and spreading it around: And probably for a fee. The Jewish Temple needed a specific currency, for which the hoarding money-changers would demand a fee. Probably Jesus found that unjust, in the manner of finding the Scribes and the Pharisees of the Law a major injustice. That was even before America, and The Consitution.

    Money-changers were likely the first real bankers of international trade and commerce. Herds could be bought and sold, and money units transported, and herds could be bought and sold. There was likely a price for each transaction. It was easy to transport a minted currency. It would become fairly easy to steal a minted currency(?). Some of the redeemable paper money, in the Middle Ages, was mainly just a deposit note of convenience for storage of the commodity, at the local goldsmith's place of business.

    The gold standard is about that insane. It is only of value when promoting widespread use as currency. Tax it or restrict it, and commerce suffers. Business Suffers. Humanity suffers. That is all about the Gold Standard.

    Finally the democracies have done away with that. Mostly there are lunatics and fanatics, who want to bring it back.

    "Crow, James Crow: Shaken, Not Stirred!
    (Scorpion in wild can slow down personal metabolism--eat one bug per year--and survive. Gold Standard hoarding can slow down business and commerce--eating no bugs per year at all(?)--and do that to kill off entire economies and assets!)
     
    Last edited: Nov 26, 2012

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