auditor0007
Gold Member
I'm going to invest in Latinum. It's so much more valuable than gold. Just ask Quark.
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A gold standard that was undermined thanks to the inflation of World War 1 and the 1920's.
Yep. Exactly right. That is the problem with gold standards. They get undermined and there is nothing the Govt or anyone can do about it except watch the economy go down the tubes.
Why is that a good thing again?
Well you seem to be inferring that the gold standard just gets undermined on its own and the government must simply sit back and watch as it happens. But it is the government that allows the gold standard to be undermined. But just because the government is able to abuse the system doesn't mean it's not the preferable system.
Yep. Exactly right. That is the problem with gold standards. They get undermined and there is nothing the Govt or anyone can do about it except watch the economy go down the tubes.
Why is that a good thing again?
Well you seem to be inferring that the gold standard just gets undermined on its own and the government must simply sit back and watch as it happens. But it is the government that allows the gold standard to be undermined. But just because the government is able to abuse the system doesn't mean it's not the preferable system.
It is not the preferable system when the "undermined" gold standard causes the economy to go down the tubes and there is nothing the government can do about it. Except abandon it once again.
But it can be a great system for gold speculators, I'll grant you that.
I'm going to invest in Latinum. It's so much more valuable than gold. Just ask Quark.
Well you seem to be inferring that the gold standard just gets undermined on its own and the government must simply sit back and watch as it happens. But it is the government that allows the gold standard to be undermined. But just because the government is able to abuse the system doesn't mean it's not the preferable system.
It is not the preferable system when the "undermined" gold standard causes the economy to go down the tubes and there is nothing the government can do about it. Except abandon it once again.
But it can be a great system for gold speculators, I'll grant you that.
Then perhaps the government should not undermine the gold standard?
It is not the preferable system when the "undermined" gold standard causes the economy to go down the tubes and there is nothing the government can do about it. Except abandon it once again.
But it can be a great system for gold speculators, I'll grant you that.
Then perhaps the government should not undermine the gold standard?
It must, unless you are still proposing the "Bernie Madoff gold certificate" scheme.
Then perhaps the government should not undermine the gold standard?
It must, unless you are still proposing the "Bernie Madoff gold certificate" scheme.
I'm sorry, I can't recall what the "Bernie Madoff gold certificate scheme" is?
You may find it odd that somebody like me who thinks the gold standard is a silly idea agrees with the above, but I do.
A Fiat money economic is no better than the people who control it.
The people who controlled ours in the last thirty or fourty years didn't do it on behalf of the American economy, they did it on behalf of themselves.
As soon as one of you Miseian genuises can explain to me how to overcome the inherent problems of the gold standard you may find a convert.
Thus far your entire argument for the gold standard is the problem of fiat monetary systems run by gangsters.
THAT problem I fully understand.
Your gold standard solution, I DONT.
We "gold bugs," as you like to call us, have tried to explain the benefits to you, but you simply reject our answers. I don't think it's a lack of understanding on your part, I just think you disagree with the idea of a gold standard completely. Not everyone's going to agree, but we'll keep trying to convert you.
But each of us CAN be on the gold standard.
Let's say you get your paycheck, pay the bills, buy the groceries, fill up the car, etc. and put a little cash in a drawer or envelope for a few extras.
And let's say you have 500 dollars left over at the end of each month. So you go out and buy gold coins (or coin) with your leftover cash and hide it really well in your home, under a plant, in a vault, etc.
Over time, you pile up gold coins. They will keep up with inflation, in general. Gold always has.
The only way this savings plan won't work is if we get the kind of hyperinflation that Zimbabwe had recently. They go to the point where prices doubled every 16.5 hours. That's pretty rough stuff.
You could put all your savings into gold, and then when you retire, pull out a couple gold coins each month, convert them to cash, and go buy what you need for the month.
Someone said that no currencies are exchangable for gold anymore.
That's not true. They all are. You can buy and sell gold in your town.
You may find it odd that somebody like me who thinks the gold standard is a silly idea agrees with the above, but I do.
A Fiat money economic is no better than the people who control it.
The people who controlled ours in the last thirty or fourty years didn't do it on behalf of the American economy, they did it on behalf of themselves.
As soon as one of you Miseian genuises can explain to me how to overcome the inherent problems of the gold standard you may find a convert.
Thus far your entire argument for the gold standard is the problem of fiat monetary systems run by gangsters.
THAT problem I fully understand.
Your gold standard solution, I DONT.
We "gold bugs," as you like to call us, have tried to explain the benefits to you, but you simply reject our answers. I don't think it's a lack of understanding on your part, I just think you disagree with the idea of a gold standard completely. Not everyone's going to agree, but we'll keep trying to convert you.
Well, actually Kevin, before you suggest that I am being obtuse, I have specifically agreed to the benfit of the gold standard many times, and I have asked you how we deal with the multiple problem of continuous deflation, many times.
To date you haven't addressed inevitable outcome of a gold standard...deflation
We both know the potential sortcomings with fiat money.
But you have yet to even acknowledge the inevitable shortcoming of the gold standard so who is really being obtuse here?
Damned right the GS prevents inflation...by creating continuous DEFLATION.
Addesss how the gold standard can NOT create that problem, if you can
If you cannot, just admit you don't know how to solve THAT problem of the gold standard, and we can agree to disagree agreeably.
Do not send me to a website and expect me to read a whole Misean tome to address this question.
If you cannot answer this question based on your readings of that school, then you are not qualifed enough to send me to a website because you did not understand what you read there, either.
What about DEFLATION?
We "gold bugs," as you like to call us, have tried to explain the benefits to you, but you simply reject our answers. I don't think it's a lack of understanding on your part, I just think you disagree with the idea of a gold standard completely. Not everyone's going to agree, but we'll keep trying to convert you.
Well, actually Kevin, before you suggest that I am being obtuse, I have specifically agreed to the benfit of the gold standard many times, and I have asked you how we deal with the multiple problem of continuous deflation, many times.
To date you haven't addressed inevitable outcome of a gold standard...deflation
We both know the potential sortcomings with fiat money.
But you have yet to even acknowledge the inevitable shortcoming of the gold standard so who is really being obtuse here?
Damned right the GS prevents inflation...by creating continuous DEFLATION.
Addesss how the gold standard can NOT create that problem, if you can
If you cannot, just admit you don't know how to solve THAT problem of the gold standard, and we can agree to disagree agreeably.
Do not send me to a website and expect me to read a whole Misean tome to address this question.
If you cannot answer this question based on your readings of that school, then you are not qualifed enough to send me to a website because you did not understand what you read there, either.
What about DEFLATION?
I didn't think you were being obtuse, or at least I didn't mean what I said in any negative terms.
You have a negative perception of deflation, but it's not negative. The market naturally moves towards lower prices in the first place, so deflation is not necessarily a bad thing.
Well, actually Kevin, before you suggest that I am being obtuse, I have specifically agreed to the benfit of the gold standard many times, and I have asked you how we deal with the multiple problem of continuous deflation, many times.
To date you haven't addressed inevitable outcome of a gold standard...deflation
We both know the potential sortcomings with fiat money.
But you have yet to even acknowledge the inevitable shortcoming of the gold standard so who is really being obtuse here?
Damned right the GS prevents inflation...by creating continuous DEFLATION.
Addesss how the gold standard can NOT create that problem, if you can
If you cannot, just admit you don't know how to solve THAT problem of the gold standard, and we can agree to disagree agreeably.
Do not send me to a website and expect me to read a whole Misean tome to address this question.
If you cannot answer this question based on your readings of that school, then you are not qualifed enough to send me to a website because you did not understand what you read there, either.
What about DEFLATION?
I didn't think you were being obtuse, or at least I didn't mean what I said in any negative terms.
You have a negative perception of deflation, but it's not negative. The market naturally moves towards lower prices in the first place, so deflation is not necessarily a bad thing.
Other than inducing people not to invest or borrow or spend, deflation great for the economy. Especially when you get that annual cut in pay.
I didn't think you were being obtuse, or at least I didn't mean what I said in any negative terms.
You have a negative perception of deflation, but it's not negative. The market naturally moves towards lower prices in the first place, so deflation is not necessarily a bad thing.
Other than inducing people not to invest or borrow or spend, deflation great for the economy. Especially when you get that annual cut in pay.
It means your money is worth more.
People are not going to choose not to buy simply because in 6 months something might cost less. Prices go down all the time, it's the natural progression of the market as I said before, and people still buy things.
People are not going to choose not to buy simply because in 6 months something might cost less. Prices go down all the time, it's the natural progression of the market as I said before, and people still buy things.
You're arguing against economic interest. People will still buy things but they will be incentivized to put off the purchase. And I disagree with your conclusion. I know people right now how are planning to buy a house but waiting to see if prices will go down furhter.
Can only be true if you're bering paid in fiat money.Of course you are getting paid less too.
It sure is--if youre being paid in fiat money.But that is the problem.
Can't happen with money founded upon an objective standard rather than than one founded upon some retard's capacity to print money, or force an interest rate.Why invest if you can just sit on your money and its becomes worth more?
This is a problem worthy of consideration only when the notion that money IS value, has replaced the notion than money represents value--you know, like when you're spending fiat money.Why buy a car now when it will be cheaper in 6 months?
This is only true when the notion that money IS value, has replaced the notion than money represents value--you know, like when you're spending fiat money.When you borrow money it costs more because you are paying the loan back in more expensive money.
Which is the underlying weakness of fiat money. The only reason that successful the fiat money systems enjoy success is that those who run them, responsibly treat them like they're founded upon an objective standard rather than than one founded upon some retard's capacity to print money, or force an interest rate. All the others just simply go tit's up.None of which is indusive to economic growth.
We "gold bugs," as you like to call us, have tried to explain the benefits to you, but you simply reject our answers. I don't think it's a lack of understanding on your part, I just think you disagree with the idea of a gold standard completely. Not everyone's going to agree, but we'll keep trying to convert you.
Well, actually Kevin, before you suggest that I am being obtuse, I have specifically agreed to the benfit of the gold standard many times, and I have asked you how we deal with the multiple problem of continuous deflation, many times.
To date you haven't addressed inevitable outcome of a gold standard...deflation
We both know the potential sortcomings with fiat money.
But you have yet to even acknowledge the inevitable shortcoming of the gold standard so who is really being obtuse here?
Damned right the GS prevents inflation...by creating continuous DEFLATION.
Addesss how the gold standard can NOT create that problem, if you can
If you cannot, just admit you don't know how to solve THAT problem of the gold standard, and we can agree to disagree agreeably.
Do not send me to a website and expect me to read a whole Misean tome to address this question.
If you cannot answer this question based on your readings of that school, then you are not qualifed enough to send me to a website because you did not understand what you read there, either.
What about DEFLATION?
I didn't think you were being obtuse, or at least I didn't mean what I said in any negative terms.
You have a negative perception of deflation, but it's not negative. The market naturally moves towards lower prices in the first place, so deflation is not necessarily a bad thing.
Can only be true if you're bering paid in fiat money.Of course you are getting paid less too.
It sure is--if youre being paid in fiat money.But that is the problem.
Can't happen with money founded upon an objective standard rather than than one founded upon some retard's capacity to print money, or force an interest rate.
This is a problem worthy of consideration only when the notion that money IS value, has replaced the notion than money represents value--you know, like when you're spending fiat money.
If the purchasing power of the currency has increased, it costs you more in purchasing power to repay a loan in a deflationary environment.This is only true when the notion that money IS value, has replaced the notion than money represents value--you know, like when you're spending fiat money.When you borrow money it costs more because you are paying the loan back in more expensive money.
Which is the underlying weakness of fiat money. The only reason that successful the fiat money systems enjoy success is that those who run them, responsibly treat them like they're founded upon an objective standard rather than than one founded upon some retard's capacity to print money, or force an interest rate. All the others just simply go tit's up.None of which is indusive to economic growth.