End of Liberty

Originally posted by ushomefree
Correct me if I'm wrong, but I think your missing the point of this entire thread, not to mention a number of recent posts with members of the forum. What exactly are you talking about? Could you elaborate and try communicating yourself to me with more than one sentence?

gold supplies aren't finite

there are many ways nations can aquire more gold, and if a gold standard is introduced, they have even more incentive to do so

In sym's case, he is talking about mining new gold from the ground. I've mentioned invading or other forms of military force used to aquire new gold.

unless currency is set to some global standard (one world currency) the price of gold is not finite on a supply or demand side

Originally posted by ushomefree
Correct me if I'm wrong, but I think your missing the point of this entire thread, not to mention a number of recent posts with members of the forum. What exactly are you talking about? Could you elaborate and try communicating yourself to me with more than one sentence?

You implied that the supply of precious metals was static. That is factually wrong, the world's supply of them is constantly increasing. Worse that constant influx comes from just a few nations. That was part of the reason the US went off the gold standard, they didn't want to depend on Russia and South Africa to produce their money.

note, i never said my point was as good as sym's

Originally posted by Symmetric Chaos

You implied that the supply of precious metals was static. That is factually wrong, the world's supply of them is constantly increasing. Worse that constant influx comes from just a few nations. That was part of the reason the US went off the gold standard, they didn't want to depend on Russia and South Africa to produce their money.

I have never implied that precious metals were "static." I honestly have no idea where your getting this information from. I stated that precious metals - to include gold - are "limited" in supply, which is true. There is a limit to precious metals on the planet, and they must be mined. That is precisely what gives them intrinsic value.

The point is, precious metals cannot be manufactured or created out of thin air like fiat currencies around the world, to include the dollar via a printing press. I thought that was obvious. As for the latter portion of your post, countries around the world simply usurped the gold standard to ensure monetary flexibility to spend (beyond their means). It's called greed. That's it!

But the value of precious metals can be arbitrarily set, regardless of how much a nation has. And as inimilast said, what about the inevitable wars and invasions that will result from it? In that sense we'd be creating a new oil.

Originally posted by inimalist

gold supplies aren't finite

there are many ways nations can aquire more gold, and if a gold standard is introduced, they have even more incentive to do so

This whole conversation is ridiculous, in my view. Precious metals are finite, but the search to find them is infinite. As I have stated to Symmetric Chaos, precious metals can not be manufactured in a factory or printing press out of thin air. Precious metals are a natural resource, and it can not be manipulated like fiat currency.

Originally posted by inimalist

In sym's case, he is talking about mining new gold from the ground. I've mentioned invading or other forms of military force used to aquire new gold.

You missing the point in what I'm trying to convey. The US has lost it's position as an economic superpower. We're merely floating on fumes. The only thing keeping us afloat is the dollar as the world's currency. Once the dollar is debased - which it will - we'll have no hope. Forget about invading countries and/or military might to persuade influence. Without a stable currency, you have nothing.

Originally posted by inimalist

unless currency is set to some global standard (one world currency) the price of gold is not finite on a supply or demand side

The world is already set to a global currency standard. It's called gold and silver, and other precious metals. Once the gold standard was usurped, the money supply and interest rate games came into play.