Posted on 06/27/2016 1:50:10 PM PDT by Rusty0604
Can anyone answer this question. If the economy takes the big one and we fall into an instant depression and banks close, what happens to mortgages? If banks are closed how does one do business such as paying bills owed?
If Greenspan thinks Brexit is terrible then his outlook on the US economy is really great news.
BUY BUY BUY!
If we went on a gold standard, I could sell my high school graduation ring and pay off my house.
We had a 94 probe, basicaly shared the same core frame as the mx6.
Ford really upped their eletronics when they teamed up with mazda.
Except the gold is long gone
Barter, for one thing.
are you willing to do anything to keep banks open? There have been borrowers and lenders since the beginning of time.
if banks were closed as you suggest, how would your employer pay you?
I don’t know if your question was rhetorical, but this is the kind of fear that drives Hillary voters, because we all know she loves big banks.
He says we are all in trouble because of entitlements.
I’m wondering if a big do-over isn’t in the cards, regardless.
It’s in a bank in Beverly Hills under somebody else’s name.
Jed Clampett?
Didn’t Greenspan dismiss this approach for most of his life/career?
(I’ll go read the article now)
Lol
He did when he became Chairman of the Federal reserve.
How would stabilizing the value of the dollar cause a depression? All a gold standard is, is setting a standard value on the dollar, like setting your weight scales. Changing the relative value of the dollar is like changing the measurement on your scale so it LOOKS like you don’t weigh so much. YOUR weight hasn’t changed, you’ve just fooled yourself by changing the weight measurement. Same with the dollar. The dollar is piece of paper used for exchange of value. The dollar measures the value of what you’re buying. Changing the standard for the dollar doesn’t change the value of what you’re buying but it does confuse the issue of meaningful prices for buyers and sellers.
A fixed standard like a gold standard would be very beneficial in strengthening and stabilizing the dollar, prices, and the economy.
Milburn Drysdale had Ms. Jane pull a fast one on Jed.
Jed was honest.
It’s so easy:
1. Use U.S. Notes to pay the Fed the entire national debt. You can do it in one hour by a stroke of the president’s pen. (Google Kennedy and his executive order to do just that.) They are legal currency, un-backed, but issued by the treasury, and therefore no interest need be paid on it. Now sit back and watch the private bankers who are called the Federal Reserve have to figure out what to do with all that money without crashing its value - popcorn and soda time.
2. Abolish the Federal Reserve - neither federal nor a reserve. Use said US notes as one form of legal currency.
3. The other form of legal currency will be gold and silver backed, with full convert ability at anytime at current market conversion rates. Of the two currencies, which do you think the people will prefer? The gold backed, which sticks it to the Fed - they printed green worthless money, they get back red worthless money - beat them at their own game.
Off a rooftop would suffice.
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