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 Replies: 9 / Views: 1,231 |
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Valued Member
United States
214 Posts |
Just saw this: http://business.time.com/2012/08/29...d/?hpt=hp_t3It is kind of sad actually. The mainstream media never does a good job at reporting this stuff. Read the commentary though, the guy with the most likes lays out a very good argument for the gold standard in response. Was it someone here?  |
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Pillar of the Community
United Kingdom
2624 Posts |
The response was better reading than the main article :)
Edited by DavidUK
09/03/2012 08:23 am
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Pillar of the Community
United Kingdom
616 Posts |
But to me this is still the key takeaway "I'm not saying a gold standard is
advisable, and I tend to agree with Milton Friedman."
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Pillar of the Community
 United States
2448 Posts |
 The only way we'll go back to the gold standard is if there is a total governmental and societal collapse. What few understand, if total collapse, the price of gold will fluctuate wildly. Who or what organization will determine the market value of the metal? Probably the best negotiator. |
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Pillar of the Community
Canada
3692 Posts |
It would certainly help if the world had any journalists left. Scholars, not pretty people behind a microphone.
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Pillar of the Community
United States
1450 Posts |
The issue is really not gold standard vs. no gold standard,the issue is sound money backed by something other than the good faith and credit of our government. There are many ways to back money with something valuable,that is what the discussion needs to be. If we continue the way we are going our dollars will be valueless and our wealth,held in dollars,will be gone.
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Bedrock of the Community
13014 Posts |
Quote:
The issue is really not gold standard vs. no gold standard,the issue is sound money backed by something other than the good faith and credit of our government. I think thats the point a lot of people really miss with the gold standard talk. Its not necessarily the best solution but it is a good way to bring up the topic and start a conversation/bring attention to the problems of just printing as much money as you ple ASE |
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Pillar of the Community
United States
1903 Posts |
Money backed by something tangible rewards those who save and are financially responsible...for whatever money you have will always be worth something....
Money backed by nothing tangible (FIAT) rewards the financially irresponsible as every time we "ease" ( printing more money ) our economy, it takes away from those that are financially responsible ( be devaluating what you have saved) and giving it to the financially irresponsible ( by devaluating what the owe ). The FIAT game is simply a way to make wealth redistributing easier and in the hands of the government, not through the efforts of its own citizens. When you really look at it in the most basic sense...the fact our government can just "turn on the presses" and devalue our currency is in essense a backdoor tax. By adding money to the government coffers by devauling citizens money is to me...in my mind...outright theft. If they had to back our money with something...anything....they would not be able to take away our personal wealth so easy. I say we start a "pay me in silver" movement....have our employers pay us in silver instead of cash. Bet that would catch someones ear!
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Pillar of the Community
Canada
3692 Posts |
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Pillar of the Community
United States
4008 Posts |
What next? An article by someone who is unhappy because the gold they bought in 1998 is now worth about 7x what they paid for it and they are mad that they have to pay so much in tax when they sell it? Lol... silly geese.
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Replies: 9 / Views: 1,231 |
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Posted 09/03/2012 10:18 am
