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Old 12-13-2007, 09:23 AM
 
11,127 posts, read 12,657,795 times
Reputation: 3676

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Quote:
Originally Posted by NewToCA View Post
I think you are being too kind, folks really need to understand more about the gold standard and our economic performance when linked to gold.
While I agree that we should all have a better understanding of how our currency functions, but is there or isn't there inherent dangers to fiat currency as well. Especially when the Fed decided to no longer release M3 numbers which are, or at least were an important factor in determining the value of our currency?

Even if we chose an arbitrary thing to base the value of our currency, be it gold, silver, popcorn or sea shells, it has a direct relation to something tangible instead of purely faith in the US.
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Old 12-13-2007, 09:30 AM
 
Location: Sacramento
13,781 posts, read 23,758,379 times
Reputation: 6174
We'll see, I think the Fed's and the foreign central bankers handling of this current situation should be a good case study for the inherent flexibility in fiat currency.

Should be an interesting test, with the full impact known within the next few years.
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Old 12-14-2007, 08:53 PM
 
Location: Oklahoma(formerly SoCalif) Originally Mich,
13,387 posts, read 16,695,137 times
Reputation: 4611
Well, you know the saying,

"Money's only something you need if you don't die tomorrow."
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Old 01-27-2008, 02:51 PM
 
Location: Great State of Texas
86,093 posts, read 72,311,213 times
Reputation: 27564
Wow..just found this thread. So, months later what do YOU think ?
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Old 01-28-2008, 12:56 AM
 
Location: Boise
4,425 posts, read 5,265,865 times
Reputation: 1695
I think that america has come to rely on big businesses and the select few that own everything... they call the shots.. they are the ones making the real money.. by loaning it out to you and me so we can buy our houses and our cars etc.. while getting huge profits by all of us repaying our loans to them over the course of our lives...
its time for someone to stand up and cut them off.. and a depression if it happens is the perfect time to do this... if they want to take all the perks.. and be able to bleed us elsewhere so they can do business or produce overseas as well.. then cut them off and let em go to china or india... its as simple as saying.. WE DON"T NEED YOU... because the beautiful thing about america is... there's always someone ready and able to advance their own NEW business and enterprise... if we are going into a depression.. then cut the strings with some sort of government regulation or penalties... so somebody else can have the opportunity to rise and provide america with their products.. their services.. and their ideas... when too few have too much.. then they call more and more shots... and we essentially are their slaves...economic slaves.. unless you wish to go live in a cabin in the woods...and go back a few centuries in progression... the knowlege and know-how exists... so I say.. let more new people enter the arena.. by telling these select few.. thanks but no thanks...
anyone who says social or government regulation is not needed... I'd tell you... if things remain as they are.. in 10 years.. you'll be whistling to a new tune...
the best analagy I have heard is comparing our system to a sand sifter... in a world of winners and losers.. as the game plays.. the sifter moves back and forth and as it does.. sand falls thru as they lose.. and the winners are still in the sifter staying afloat and protected for the time being.. (however long that may be) social programs are what picks that sand back up and throws it back into the sifter to keep the process going.. because they are all dependant on each other.. even though in their minds the object is to make everyone else a loser... without such social programs... eventually fewer and fewer sand crystals are left.. to where there are none.. because if there isn't anything in the sifter.. the game is over.. and all the money the last few have made.. means nothing because there is no longer a game to play...or economy to spend it in.. or own anything to have value...
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Old 01-28-2008, 01:12 AM
 
Location: On my way to FLA baby !!
1,999 posts, read 1,254,620 times
Reputation: 357
There is no recession and no economic woes where I live, we are thriving here. Economy is sound and growing.
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Old 01-28-2008, 09:29 AM
 
Location: Oklahoma(formerly SoCalif) Originally Mich,
13,387 posts, read 16,695,137 times
Reputation: 4611
Quote:
Originally Posted by boiseguy View Post
I think that america has come to rely on big businesses and the select few that own everything... they call the shots.. they are the ones making the real money.. by loaning it out to you and me so we can buy our houses and our cars etc.. while getting huge profits by all of us repaying our loans to them over the course of our lives...
its time for someone to stand up and cut them off.. and a depression if it happens is the perfect time to do this... if they want to take all the perks.. and be able to bleed us elsewhere so they can do business or produce overseas as well.. then cut them off and let em go to china or india... its as simple as saying.. WE DON"T NEED YOU... because the beautiful thing about america is... there's always someone ready and able to advance their own NEW business and enterprise... if we are going into a depression.. then cut the strings with some sort of government regulation or penalties... so somebody else can have the opportunity to rise and provide america with their products.. their services.. and their ideas...
Quote:
when too few have too much.. then they call more and more shots...
and we essentially are their slaves...economic slaves.. unless you wish to go live in a cabin in the woods...and go back a few centuries in progression... the knowlege and know-how exists... so I say.. let more new people enter the arena.. by telling these select few.. thanks but no thanks...
anyone who says social or government regulation is not needed... I'd tell you... if things remain as they are.. in 10 years.. you'll be whistling to a new tune...
the best analagy I have heard is comparing our system to a sand sifter... in a world of winners and losers.. as the game plays.. the sifter moves back and forth and as it does.. sand falls thru as they lose.. and the winners are still in the sifter staying afloat and protected for the time being.. (however long that may be) social programs are what picks that sand back up and throws it back into the sifter to keep the process going.. because they are all dependant on each other.. even though in their minds the object is to make everyone else a loser... without such social programs... eventually fewer and fewer sand crystals are left.. to where there are none.. because if there isn't anything in the sifter.. the game is over.. and all the money the last few have made.. means nothing because there is no longer a game to play...or economy to spend it in.. or own anything to have value...
Quote:
when too few have too much
Isn't that called, Monopolizing? like Bill Gates tried with no success.
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Old 01-28-2008, 12:57 PM
 
13,072 posts, read 11,399,782 times
Reputation: 2608
Quote:
Originally Posted by Floridabound09 View Post
There is no recession and no economic woes where I live, we are thriving here. Economy is sound and growing.
Aye, same here. Housing didn't change much in prices (though I was hoping it would even through prices are reasonable). Jobs still seem to be abundant, costs aren't terrible. Gas is still under 3 bucks a gallon (though much higher here than it used to be a couple of years ago). Everything seems to be awesome actually. Food is reasonable and even the "frivolous" expense stuff" isn't overboard. Things are good here.

Then again, I am not in any major debt, have excellent credit, own everything I have outright and live within my means. Things seem fine to me.
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Old 01-28-2008, 01:09 PM
 
11,127 posts, read 12,657,795 times
Reputation: 3676
After seeing this thread come to life again, I was prompted to read up a bit on the original Great Depression. Interestingly enough, it didn't take place on the day of the stock market crash. The market rebounded after a year, but with instability in the market combined with severe drought in the midwest, and lack of confidence in the consumers led to a gradual decline over the course of a few years.

Lets just hope the financial wizards of the day will find a softer solution to our current trend.
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Old 01-28-2008, 01:32 PM
 
Location: Santa Monica
4,708 posts, read 7,704,541 times
Reputation: 1029
Quote:
Originally Posted by bchris02 View Post
I have heard many people talk about how 2008 is going to be as bad as, if not worse than 1929. Is the economy really that bad? Is it time to panic?

If that is how you get your information to make significant decisions in your life, yes, you should panic. And you should hand all of your money and belongings to any stranger that you meet on the street, to help your panic along and allow it to reach its logical and ultimate conclusion.
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