Originally posted by inimalist
fact: there were never any economic collapses, depression, recessions or slowing downs when money was backed by the gold standard.fact: there was no intelligent reason, or benefit, to switching to a non-gold backed currency.
(To be read in Data's voice):
I am quite certain that statements like those are of such extreme incorrectness that there is no way you could be serious and I am left with the conclusion that you are using sarcasm. Fascinating.
Use a smilie face, dammit! You're killing me.
Originally posted by Mairuzu
I'll just move to texas and defend the land with Ron Paul.Swoop on them grand daughters.
Bam, in the family.
crylaugh
Originally posted by dadudemon
Well, here's the good thing about backing up SOME of your money with something useful:The only way gold will become useless is never. It has an extremely high resistance to corrosion, it is attractive to humans (seems like a natural attraction...not a social one...kind of like beetles to a beer bottle), has one of the highest electrical conductance abilities at STP (silver is another that it can go back and forth with at different temperatures), is widely used in electronics (short of a nuclear war and the wiping out of most humans, gold will remain useful in electronics for hundreds to thousands of years from now...even to a god-like AI that might take over everything), is highly malleable at STP making it easier to mold into things, has really high reflectivity and is used in spacecrafts because of that, used in the medical field due to it not being toxic and the electronic uses (and does not "sublimate" hardly at all at STP), and for uses in ion lasers (laser? **** yeah!).
Gold is only a single example of something that could be used to back money. I used that because of the obvious uses of gold in that particular category, already. Also, because it is relevant to this thread due to Ron Paul's bownar for gold-backed money.
Why I'm stocking my garage with as many of these* as I can get, before Mairuzu's "collapse" happens:
Originally posted by dadudemon
(To be read in Data's voice):I am quite certain that statements like those are of such extreme incorrectness that there is no way you could be serious and I am left with the conclusion that you are using sarcasm. Fascinating.
Use a smilie face, dammit! You're killing me.
finally something so obvious even the internet gets it 🙂
but no, as I understand it, nations moved from the gold standard because it lacked any real flexibility to deal with complex international markets.
Maybe if we could say inflation will always be X, no matter what, and growth will always be X, no matter what, and there will never be any interruptions of the market, such a standard may have real benefits. Otherwise, the flexibility a non-bound currency gives is, as far as I've read (I'll make no pretense at being an economist or having a decent understanding of economics), most beneficial for the real world.
Originally posted by Mairuzu
X = Shit?
X equals a constant value that, if the economy could be set and maintained at, would facilitate the benefits of a gold-backed currency.
I'm not sure how you got that... hell, that line was even somewhat in support of the very thing you believe, if with some caveats...
Originally posted by Mairuzu
The only growth I see is the expansion of military bases around the world and with thousands of new laws put in place, possibly a lot more jails.
h-how would the gold standard stimulate growth?
and, to be fair, the fastest growing sectors in the American economy are things like mining, metals/car/technology manufacturing and the government/social services/health industry.
http://cnsnews.com/blog/bill-hobbs/despite-obama-two-sectors-are-helping-drive-obama-recovery
Originally posted by Mairuzu
Growth of the wealth gap?
I'm sorry... you aren't actually suggesting that the wealth gap is a result of a non-gold backed currency, are you? You think wealth inequality is worse now than, say, the 1800s?
Consolidation of wealth among the rich and powerful is a byproduct of capitalism. shit, even Smith talks about it /ffs
Of course, special interest groups get bailed out with tax payer money or they simply print more. Why would not that increase the wealth gap? Inflation itself is a hidden tax. Inflation is profitable to some.
The elite class vs the rest? I see nothing wrong about that seeing how its true.
Are we experiencing growth in our economy? Are we recovering?
Even working in a steel industry I can see there is a major hault.
Originally posted by Mairuzu
Are we experiencing growth in our economy? Are we recovering?
iirc, even at the worst periods of the recession, the American economy was still experiencing growth.
the question is, was it experiencing enough growth.
almost all indicators point that the worst of the recession is over, pending Europe.
Originally posted by Mairuzu
Why would not that increase the wealth gap?
I know you hate giving a straight answer, but you havent posted any videos on this, so I am confident you may be able to give a simple yes or no:
you are saying, then, that there is more income inequality when there is a non-gold backed currency than when there was a gold-backed currency?
Originally posted by Mairuzu
Where was it experiencing growth though? Besides military bases of course. We tend to spend quite a lot on that.
also, you have to remember, there is a massive difference between absolute dollars spent and industry growth. If you weren't investing more in defense month-by-month during the recession, the industry wouldn't grow, regardless of how much is spent on it in aggregate. Though, I might point out, compared to other growing industries (health care, social services) the American government spends a very small amount on the military (less than 5% of GDP)
Originally posted by Mairuzu
Seeing how we bailed out GM...
wait... you just complained about the metal industry slowing down, and now you criticize the US government for saving the auto industry?
Originally posted by Mairuzu
these would make sense. This growth means very little the the economy compared to government spending.
wut?
government spending is what is stimulating growth, which has historically been the solution to every recession/depression ever.
Originally posted by inimalistThey didnt save the auto industry. They should have stuck with capitalism and let them fall instead of using tax payer money. We're suppose to have capitalism are we not? Whats with the special interest?
wait... you just complained about the metal industry slowing down, and now you criticize the US government for saving the auto industry?
Originally posted by inimalist
government spending is what is stimulating growth, which has historically been the solution to every recession/depression ever.
You're going to have to check exactly what kind of spending is really going on. Trillions printed and going where? Wars costing us how much? And many other useless programs.
Congress borrowing money from the fed which only furthers our inflation issue, to fund its shit programs isnt helping. You cant deny whats going on out there.