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Bernanke Doesn't Understand a Gold Standard
The Paper Empire ^
| 03/02/2011
| The Paper Empire
Posted on 04/17/2011 5:58:28 PM PDT by johnsmom
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To: Protoss
61
posted on
04/18/2011 7:07:46 PM PDT
by
SunkenCiv
(Thanks Cincinna for this link -- http://www.friendsofitamar.org)
To: Christian Engineer Mass
Yeah the current games they are playing have worked out so well for us!
62
posted on
04/18/2011 7:08:01 PM PDT
by
surfer
(To err is human, to really foul things up takes a Democrat, don't expect the GOP to have the answer!)
Comment #63 Removed by Moderator
To: Christian Engineer Mass
We shouldnt mix cause & effect though. Those graphs are predicated on the idea that gold holds its value not matter what.
It does. Unlike FRN, PG has a relatively stable (thousands of years) historic exchange value in terms of capital (land, other PM's, copper, steel, et c.,.). Its supply has increased at roughly the same rate as the human population which makes it uniquely suitable for indexing other commodities and currencies. Hence the vernacular term "Gold Standard".
"Then the third part of those graphs is the drop after 2000, which clearly represents the rise in gold price."
A wholly incorrect assertion. That part of the graph represents the massive dollar devaluation that has occurred over the past 10+ years. IOW - a big haircut in terms of absolute affluence for those who take their earnings, or hold assets denominated in USD. PG has risen only moderately vs. basic input commodities, which means it's not a bubble that we're seeing so much as a simultaneous collapse in purchasing power of the USD and Euro.
Beginning to wonder if THIS GUY is setting monetary policy at the Fed.
To: CowboyJay
I’m not disagreeing with you that there’s a bunch of shenanigans going on, but I’m trying to inject some thoughtfulness into the debate. Things are not so simple as many believe.
65
posted on
04/19/2011 1:50:29 PM PDT
by
Christian Engineer Mass
(25ish Cambridge MA grad student. Many conservative Christians my age out there? __ Click my name)
To: Christian Engineer Mass
Hmmmmm........Not a peep.......from a 25 yr old smart ass....
“argumentum ad antiquitum”.<<<..I rest my case Your Honor!
66
posted on
04/19/2011 8:36:10 PM PDT
by
M-cubed
To: Christian Engineer Mass
Frucking rocket scientist...Trust me here....*G*
67
posted on
04/19/2011 8:40:40 PM PDT
by
M-cubed
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