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The silver dollars represent an intrinsic value of $400, and a monetary value of $10. So yes, there is a marked difference between intrinsic and monetary value, and you just used that difference to make a point.
And yet, the nice people at Amazon people ship goods to my door when I send a modulated bitstream that represents a credit card number.
The customers of, say, the Medici bankers were quite aware that their money was being lent. How else would they gain interest? Gold pieces in a vault do not procreate. Wine and cheese benefit from aging, money not so much.
So it's not criminal. You feel strongly that it should be, I can tell.
How do you feel the money supply should be expanded?
Then they're idiots.
While I'm not disagreeing that most modern bankers are pond scum, the fractional reserve system in and of itself isn't necessarily fraudulent.
Having a fixed money supply in growing economy leads to deflation, and that's pretty much the definition of disaster. Well, I guess it self-regulates - because the economy will stop growing really quick.
It's not even debatable.
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Being able to lend 1000% more money than you actually have is fraudulent... If anybody else were to do that they would be charged with fraud...
You have no idea what your talking about. It rises and falls daily? And the stock market doesn't? The US dollar doesn't?
Godbugs argue that gold is a hedge against inflation. My point was that stocks have long outperformed gold as an investment and gold, for most of the last 30 years, not only didn't keep up with inflation but lost ground in much of that time.
The dollar moves everyday but not much -- and it moves against other currencies. My supermarket doesn't change the price of tomatoes when the dollar rises or falls.
Being able to lend 1000% more money than you actually have is fraudulent... If anybody else were to do that they would be charged with fraud...[/quote]
And how else are you suppose to grow an economy?
With gold? That's finite which leads to deflation which leads to wealth centralizing in the hands of the people who already have money which leads to wars.
With gold? That's finite which leads to deflation which leads to wealth centralizing in the hands of the people who already have money which leads to wars.
Everybody on this thread is missing the entire point of Ron Paul's questions to Bernanke... The "FED" is a private foreign bank that is trying to devalue the U.S. Dollar...
They want to merge the Euro with the Amero...
With a fleet of black helicopters that swoop down and get bundles of cash that are sent to the Bilderbergs and Illuminati on a regular basis.
Gold is money. A couple of weeks ago I took an 18kt gold bracelet (husband hasn't worn it in years due to insecure clasp) and some broken pieces of gold to a local jeweler. I walked away with a check for over $800 and $120 in gas cards.
Gold is money. A couple of weeks ago I took an 18kt gold bracelet (husband hasn't worn it in years due to insecure clasp) and some broken pieces of gold to a local jeweler. I walked away with a check for over $800 and $120 in gas cards.
You just exchanged gold for "real" money.
You could just as easily have done it with chickens and eggs.
Then a dollar bill isn't money either. I am not forced to accept it. To me, it has an implied value for some item. Not money.
The implication is more of a false inference.
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