Posted on 04/01/2009 11:47:40 AM PDT by nickcarraway
Sounds like the Russians and Paul are on the same page.
This USED to be the way the world worked. Until Nixon that is.
The sooner we do, the sooner the recovery can begin.
Going to the gold standard was one of the biggest factors that led to the Great Depression. It would tighten the money supply too quickly and too much.
Nixon was also a big spender. He went off the gold standard for the same reasons Johnson quit using silver in coins. FWIW, the Morgan silver dollars were about .77 ounces, and with the price of silver at $13, their silver value is around $10. A silver dime is worth around .94. That's silver content only, not including numismatic value. Roughly, that means if you chopped one zero off, money value would be equivalent to what it was in 1964.
Others here disagree, but barring stuff like televisions and computers where manufacturing has gotten so much more efficient that costs have dropped dramatically, about 90% of our monetary worth is due to inflation.
Did i wake up in Bizzaro world? *Russia* says the gold standard should be observed while an American President seizes the means of production, nationalizing the private industries?? Sweden is warning us against socialism? China is lecturing us on fiscal discipline? Canada won’t let Bill Ayers and George Galloway into their great nation, but they can both stroll into our white house at will?
I don’t know whether to laugh or cry, or check my coke for LSD.
I think somebody slipped coke in my LSD.
During the Spanish Civil War the left wing, so called, republicans allowed the Russians to load up all the gold in the Spanish Treasury into a ship and transport it to the USSR. The Spanish economy never even had a prayer of recovery until the end of the Gold Standard. I hope Spain’s new al-Quaida overlords are prepared for Change.
“Money supply” is meaningless, unless you want to confiscate priate savings by inflation to finance massive government spending. Nobody else ive ever read says the gold standard caused the depression, can you refer us to an author, etc?
It seems that if that was the case, then the depression should have been fixed in a jiffy when FDR took us off the gold standard and started following Keynes.
And thats a GREAT tagline. LMAO
iirc, the book is “The Lords of Finance”. I heard the writer in an interview on pbs recently.
Gee and Iran is invested in Venezuela’s gold mines.
So, the question is:
Are the conspiracy theorist correct in that there is no gold in Fort Knox and hasn’t been for decades?
http://moderate.wordpress.com/2008/01/30/gata-to-federal-reserve-wheres-the-gold-in-ft-knox/
Gold...what a novel concept.
Hmm, you think that if gold was such a good idea our founders would have put it into the Constitution...
Under a gold standard, prices would drop to account for a static money supply. It's exactly how the economy functioned in the late 19th century.
The Russians and OPEC want oil and other things to be paid for in something that will not inflate rapidly and become worthless. Same with the Chinese.
But a static money supply does not help economic growth, which is why we left the gold standard as I understand it.
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