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LeonardoDeLego (July 26, 2008 at 5:02 pm)
+1 IM WITH YOU
MillionthUsername (July 18, 2008 at 3:51 pm)
You brought up gold. I responded to you, not the vid! Look at your previous comments.The supply of dollars is "market driven"???What are you talking about?!? Dollars are created by the government and the private banking cartel. They control it. They create dollars out of nothing by issuing credit. Our money has NOTHING to do with a free market. If it was free you wouldn't have to take dollars and you could have competing currencies and free banking.
gwynedd1 (July 18, 2008 at 2:42 pm)
It is not meaningless. The dollar at any given time is effectively a fixed amount depending on what is in circulation. It also can be used to pay taxes which creates demand. The problem is this can be expanded or contracted. However at any given time its market driven. Also if you actually watched the video NO gold standard was proposed. This vid advocated eliminating fractional reserves and the abolishment of the fed not a "gold standard".
migpir (July 12, 2008 at 2:00 pm)
I propose we go "banker Hunting"
MillionthUsername (July 10, 2008 at 11:29 pm)
The Germans would WANT the currency if they knew it was stable and couldn't be manipulated, and if they knew other people wanted it and would take it from them. That's why you want honest money in the first place.People want euros now because it's seen as more stable than the dollar. It's a matter of transparency and confidence.Now if a dollar represented a slice of gold (or other commodity) and the euro represented the whim of central bankers, which would you prefer?
MillionthUsername (July 10, 2008 at 11:14 pm)
Let's start by understanding that the price of gold in terms of dollars is arbitrary in a centralized monetary system. You set the price. That's what the founders did. "One dollar shall be 1/X an ounce of gold." Or whatever.To say "$50,000" for an ounce is meaningless in itself (to the gov't). It's just fiat money. It's the current system.You can create as many fiat dollars as you want; you cannot create gold. The point would be to start over and eliminate fraud in the system.
gwynedd1 (July 10, 2008 at 2:48 pm)
If the dollar is backed by gold or just private currency the price of gold will sky rocket. Has anyone given any thought to what it would cost to buy up this gold? India has a ton of gold just in jewelery. It would turn an ounce of gold into $50,000 and basically enrich the rest of the world that holds gold at our expense. What if Germany did this? I would just hand Germany an ounce of Gold for a Mercedes.Can't just be gold.
MillionthUsername (July 9, 2008 at 11:01 pm)
I think she meant gold is a store of value. You can't eliminate it's intrinsic value because it's a commodity. What was "set" was the dollar to a weight of gold. Constitution says the feds can "coin money and regulate value thereof" ($/oz of gold); the states cannot make anything but gold or silver coin legal tender (offer must be accepted). For gov't issued money, you have to follow the Constitution. States can't make paper money legal tender. Therefore, the market for money is left alone.
MillionthUsername (July 9, 2008 at 10:53 pm)
I don't know off-hand all the details, but Ron Paul is talking about GOVERNMENT ISSUED money being backed by gold and silver according to the Constitution. That is only one part of the money issue - what is constitutional for the feds to do.Other reforms would include removal of legal tender laws and fractional reserve banking. You have to restore the free market. As long as the market is free, no one can "corner" it with anything, including gold.
gwynedd1 (July 9, 2008 at 10:21 pm)
If there is a "set value" to gold it defeats the whole purpose of gold. The whole point is for the market and availability to create resistance to over production. The only problem is we have done this in history before and depression followed. |
