Gold, it's only for looks in America.

[Ishido]

Krandor, nobody really has actually contested me on this aside from ad hominem attacks and very shameful one line myths.

Uh Inflation is good!
There's not enough gold in the world!

I think I'm ahead, to be honest.

No one else does.

[guartz]

Oh my, I'm just glad you all mastered the innate subtly of American politika, may the /b/tardness be with you all.

[Zosi]

Oh my, I'm just glad you all mastered the innate subtly of American politika, may the /b/tardness be with you all.

The way you say that... does that mean you're leaving? If not, don't get my hopes up like that.

[guartz]

How can I leave when your witticism left such an impression that I must have your children now?

[XxSlusherxx]

Are you trying to say that this is why the American dollar is suffering?

[guartz]

deficit spending is probably the primary cause of it, I would think.

[*Shinzon*]

Right because Gold is totally never going to run out. Remember what happened to the Spanish empire? Yeah.

[guartz]

Right because Gold is totally never going to run out. Remember what happened to the Spanish empire? Yeah.

Well if a nation must absolutely go to war, then it can briefly go off the gold standard, as it's been done in the past. However, it should promptly return to it. As I've said, yes, there is not enough gold to support wars, but no such evidence for exists that there isn't enough precious metals to support trade.

And it doesn't have to be a GOLD standard. It can be anything really... Like tally sticks, or something. Hell we can keep a fiat currency if somebody can come up with a good enough leash on it.

[skurlover]

Isn't it kinda illegal to mint money and try to pass it in exchange for goods/service when our government already has an official currency that is accepted?

[guartz]

Isn't it kinda illegal to mint money and try to pass it in exchange for goods/service when our government already has an official currency that is accepted?

No, barter is still legal. It's illegal to duplicate legal tender however.

[Quixotic]

War wasn't the reason why countries went off the gold standard, and America wasn't the first to drop the gold standard in the 20th century anyways. Countries went off the gold standard because there was rampant deflation around the world, and the gold standard limited their ability to fix their own economies. They had two choices: go off the gold standard, or spend more money. America followed other countries in 1933, the earliest countries to go off the gold standard were Austria, Germany, and England.

edit: actually I should restate, that there was rampant deflation in the large countries that were based on a gold standard, and countries that weren't on one didn't suffer any economic turmoil at the time. I'd also like to point out that countries that did suffer deflation did not begin to recover until they went off the gold standard. France tried really hard to stick to the gold standard, and did so until 1936, but by sticking to it so long, they had the hardest time working through recovery.

[Remyo]

I kinda lol how we as humans decided at one point in time to use useless rocks or metals dug from the ground as currency. then again the other options are lol to some people as well.

[aurik]

What you are looking for, Guartz, is the government to engage in fiscal responsibility. The gold standard will not give you that.

[guartz]

deflationary spiral was caused by the very same bankers who stood to gain from fiat currency... It was the private lenders who constrained the money supply, wasn't it?

[guartz]

What you are looking for, Guartz, is the government to engage in fiscal responsibility. The gold standard will not give you that.

lol. Yea, I kinda have to give you that one.

*sigh*

/thread

[Quicklet]

Oh God how could I have missed this topic.

I laugh at idiots who think gold-standard is a good idea. Go get some education.

Fiat currency + central banking system is the very reason you have all this shit going down with credit contraction. Gold-standard (or any standard, for that matter) just prevents what's been happening for decades now, where governments spend more than they actually have to spend. I do find it laughable though how much of a lockdown went into effect on gold when they took it off the standard, to the effect that they confiscated people's gold and shoved it into a vault in Fort Knox.

Anyways, arguing that a fiat/power standard is better than having an actual standard that's based on something is the most ridiculous lie that people get fed.

[aurik]

Oh God how could I have missed this topic.

I laugh at idiots who think gold-standard is a good idea. Go get some education.

Fiat currency + central banking system is the very reason you have all this shit going down with credit contraction. Gold-standard (or any standard, for that matter) just prevents what's been happening for decades now, where governments spend more than they actually have to spend. I do find it laughable though how much of a lockdown went into effect on gold when they took it off the standard, to the effect that they confiscated people's gold and shoved it into a vault in Fort Knox.

Anyways, arguing that a fiat/power standard is better than having an actual standard that's based on something is the most ridiculous lie that people get fed.

Actually basing the money supply on gold is just as fictitious as basing it on nothing. The difference is that basing it on nothing makes it much easier to adopt fiscal policies that makes sense and help guide the economy to a healthy, low-inflation state.

It also makes it tremendously easy to adopt fiscal policies that are terrible. See for example GWB's terribly fiscally irresponsible governance. What you are looking for is responsible fiscal policy. But guess what, going back to the gold standard isn't going to make that happen.

[guartz]

Aurik is right, without proper oversight even gold standard isn't good enough.

(although gold standard is still somewhat better)


edit: No wait. Government has nothing to do with this, the issuance of currency is controlled by a private bank. We need to get rid of the central banks first before attempting to re-organize fiscal policies/monetary standards. The economic system of a nation SHOULDN'T be a for-profit business!

[Elmer the Pointy]

You should just start minting your own currency: the Guartz. They can be made from aluminum foil and Styrofoam cups. Sadly, it'll probably still be stronger that our dollar.

[guartz]

What makes you think I haven't already? :D:D:D:D