End the Fed!

[sparky]

Gold is somewhere $2500 an oz, Platinum & Palladium over $1000, silver on the low end $32

Can anyone here tell me if Ft Knox can cover our 30-odd trillion debt?

~S~

 

[Toddsterpatriot]

Again, do you ever actually reply?

Maybe you just can’t.

If you don't even have the basic understanding, you'll just grunt and whine when I explain.

 

[Toddsterpatriot]

Gold is somewhere $2500 an oz, Platinum & Palladium over $1000, silver on the low end $32

Can anyone here tell me if Ft Knox can cover our 30-odd trillion debt?

~S~

Can anyone here tell me if Ft Knox can cover our 30-odd trillion debt?

Nope. Not even close.

 

[Orangecat]

and go back to a gold standard.
Why?

It doesn’t have to be gold, but currency should be backed by some sort of tangible asset. It’s a hedge against runaway printing of fiat currency, which devalues said currency and, if left unchecked, crashes it.

Borrowing at interest from a group of private banks is silly,
Who would you rather borrow from?

I’d prefer not to borrow at all. If we don’t have revenue to cover expenses, we cut the expenses.

when we have the ability to print our own currency.
Do you disagree?
I do not agree that printing to cover a deficit is better than borrowing.

Neither is better. Not spending money you don’t have is best.

If so, why?
Inflation.

Agreed. In inflation is undesirable. My point is, if you have to print money, why pay interest on it to a third party? Ideally, we could only print money that we had gold to back up.

 

[Toddsterpatriot]

It doesn’t have to be gold, but currency should be backed by some sort of tangible asset. It’s a hedge against runaway printing of fiat currency, which devalues said currency and, if left unchecked, crashes it.

I’d prefer not to borrow at all. If we don’t have revenue to cover expenses, we cut the expenses.


Neither is better. Not spending money you don’t have is best.

Agreed. In inflation is undesirable. My point is, if you have to print money, why pay interest on it to a third party? Ideally, we could only print money that we had gold to back up.

I’d prefer not to borrow at all. If we don’t have revenue to cover expenses, we cut the expenses.

Sounds good to me.

Neither is better. Not spending money you don’t have is best.

100%.

In inflation is undesirable. My point is, if you have to print money, why pay interest on it to a third party?

Should we balance the budget and then print $34 trillion to pay off the debt, so we'd
pay no interest?

 

[Orangecat]

Should we balance the budget and then print $34 trillion to pay off the debt, so we'd
pay no interest?

Not unless we have enough gold (or other tangible asset) to back that $34 trillion. Ideally, we’d cut spending below revenue levels and begin paying down the debt, just like responsible adults do IRL.

 

[BackAgain]

If you don't even have the basic understanding, you'll just grunt and whine when I explain.

Nah. I’ll laugh at your amateur hour dishonesty.

 

[sparky]

Not unless we have enough gold (or other tangible asset) to back that $34 trillion.


Exactly why every fiat on this rock has failed fellas.....

A Short History of Fiat Currency Failures: 9 Currencies That Have Collapsed

The history of fiat currency is the same each time. Too much is printed, creating inflation or hyperinflation and the currency is rejected.

www.hardmoneyhistory.com

~S~

 

[Toddsterpatriot]

Nah. I’ll laugh at your amateur hour dishonesty.

Keep whining.

 

[sparky]

The dishonest ones are those creating wealth out of thin air fellas

To their credit, they're rather good at it

~S~

 

[BackAgain]

Keep whining.

Nah. I leave that to you pussies. Meanwhile, feel free to keep running and deflecting and hiding.

 

[Toddsterpatriot]

Not unless we have enough gold (or other tangible asset) to back that $34 trillion. Ideally, we’d cut spending below revenue levels and begin paying down the debt, just like responsible adults do IRL.

You don't understand why we borrow instead of printing, but you don't want to print unless we have $1 in assets for every dollar printed?

 

[Toddsterpatriot]

Nah. I leave that to you pussies. Meanwhile, feel free to keep running and deflecting and hiding.

Feel free to keep whining.

 

[BackAgain]

Feel free to keep whining.

Feel free to keep lying and deflecting.

 

[sparky]

You folks do know what credit derivatives took a debt driven economy to those banking on the failure of it?

~S~

 

[Toddsterpatriot]

Feel free to keep lying and deflecting.

 

[BackAgain]

View attachment 948687

Again, I leave that to you. And you’re doing a bang up job!!

Lol

You’re really a fuck up here.

 

[Toddsterpatriot]

You folks do know what credit derivatives took a debt driven economy to those banking on the failure of it?

View attachment 948683

~S~

What's wrong with credit derivatives?

 

[Toddsterpatriot]

Again, I leave that to you. And you’re doing a bang up job!!

Lol

You’re really a fuck up here.

If I knew you were going to cry so much, I'd have stopped responding after you
admitted your ignorance.

 

[Orangecat]

You don't understand why we borrow instead of printing, but you don't want to print unless we have $1 in assets for every dollar printed?

I use logic and common sense, financially speaking. $34 trillion in debt says we’re doing something very wrong.