|
Todd Howard (November 30, 1999 at 12:00 am)
Wouldn't it have been a good idea to video tape the overhead diagrams?... I mean, Salerno is using visuals for a reason.
Frank wiebe (November 30, 1999 at 12:00 am)
"I don't see that as arbitrary one bit." An eighth of a spanish mill dollar is called a bit. Unintentional reference?
rosecityrower (November 30, 1999 at 12:00 am)
Under a gold system you wouldn't have a fiat currency. You don't need to "manage" the supply of money because the market does that for you. We have been so brain washed by keynesian economic policy that even when you are shown the insanity of our current monetary policy we still reject it and simply attack the messenger. The Fed doesn't manage the money supply they only increase it. Go check how many times the fed has shrunk the money supply. The point of hard currency is to stop "managing".
rosecityrower (November 30, 1999 at 12:00 am)
Gold prices are based on supply and demand because right now gold is a commodity. The buying power of gold is relatively unchanged, it is the dollar that has depreciated so drastically. When the Fed was created one ounce of gold was worth $20. Now its around$1700 that doesn't mean gold is more expensive, or buys any more, it just means that your dollar buys less and less.
rosecityrower (November 30, 1999 at 12:00 am)
How about anyone selling a product or service under a gold standard system. Just as there is a demand for dollars, there would be a demand for gold.
rosecityrower (November 30, 1999 at 12:00 am)
Its very simple, even if you mined all the gold the exists on planet earth you still have a limited/ fixed amount. The amount is irrelevant because it is only the limited nature of gold that make it a good currency. As he explains it is all about supply and demand. I challenge you to go find 100,000 tons of gold in your basement. When you do, we can discuss the inflationary problems with our currency being a natural resource.
inkey2 (November 30, 1999 at 12:00 am)
question: if the USA was never on the "gold standard" why, in the old days, did they make Gold Certificates as paper spending currency, starting 1863
Szygyify (November 30, 1999 at 12:00 am)
Jim Rogers answering the question "Do you think a return to the gold standard would constrain government abuse?Jim Rogers:.. Well, it never has.The Romans had precious metals as their currency and do you know the term "debase"? The Roman politicians had the brilliant idea that if a coin was 100% pure precious metal, they could slip a little base metal in and, over a couple of hundred years,they went from 100% pure precious metal to almost 0%. So, we've tried it.
Szygyify (November 30, 1999 at 12:00 am)
The denarius remained the backbone of the Roman economy from its introduction in 211 BC until it ceased to be normally minted in the middle of the 300's C.E,the purity and weight of the coin inexorably, decreased.The debasement of coinage allowed the Banking Elite and the state to spend more than it had. By decreasing the amount of silver in its coins, Rome could produce more coins and "stretch" its military in destructive tyrannical military expansion. |
