Obama----->One hit wonder

[gen811]

So really your problem is with FDR taking the US off the gold standard.

Well unlike the gold bugs I do not say it was a big deal. The problem is The government cannot control their spending like real people who have to budget. The gold standard is to keep the government in check.

But really you do not need to have it in gold. You can do it like gold backed currency but instead do food certificates, water certificates, energy certificates, natural resource certificates. Well you get the idea. But instead of gold, use the production of all industry's raw materials as the basis of currency. Sorry no services. This will/should only include raw necessities, rather than luxuries.
But you can still include it if you want.

Anyway. In place of the gold I would rather them to dollar based on production. Because they can only issue more currency by issuing promise to pay notes of natural resource production. Like the promise to pay notes of gold we had before 1971.

Please do not say it is unfeasible because of confusion. With the technology now it should be easy enough.

This way for those FIAT currency lovers who say gold cannot expand with industry, this currency can and will be a reflection of industry. It can be inflated with production and only real wealth creation. So the Fiat MONEY lovers can just shove it up theirs if they still want to argue with me on that point.

Gold bugs, need to also realize people can manipulate the prices of gold as well though by hoarding it.

So anyway proposition = let competing industrial/necessary resources compete along currency lines.

YES IT IS A FORM OF BARTER but in promise to pay notes and electronic data.

[dcsldcd]

Obama----->One hit wonder?


Yea like, "I wonder how the h*ll this con man ever got elected"

[lilypad]

Originally Posted by dcsldcd

Obama----->One hit wonder?


Yea like, "I wonder how the h*ll this con man ever got elected"

Because too many weak-minded and poorly educated among us are vapidly "idealistic" and looking for a guru, with "charisma" and a connection to anything glitzy, snazzy and Hollywood. The younger set raised on it, so they took the bait, hook, line and sinker. The rest...just plain stupid.

[le roi]

Originally Posted by gen811

Ahem do you know why I blame Federal Reserve? Mainly because they control the interest rates and they made it way way way too low. 0% now. WTH. While banks can borrow with 0 and lend back to gov at 3-5% or more. Such a sweet deal yes?

Do you at least admit Federal Reserve 0% interest rates are part of the problem, yet?

0% rates are definitely bad, but there is a problem with the set of policies as a whole.

that occurs in a wide variety of ways, that I admit I don't fully understand. I know that 0% rates are part of it, and you have a select few who can borrow at the Fed's discount window. I know that the Fed pays a handful of institutions to do its dirty work. I know that the Fed has been swapping out crap mortgage debt with U.S. Treasuries.

There are other mechanisms, but they either try keep them somewhat secret, or make them so complicated that the average person can't figure out where the money is flowing to, and from.