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I'm all for getting rid of the federal reserve. An new monetary policy would have to developed.Quote:
Originally Posted by epxroot
But that's the one issue I don't agree with Ron Paul. We should not revert back to the archaic gold standard. It'll do more damage than good in the long run.
Care to give me your idea on having sound money backed by something of value?Quote:
Originally Posted by thcbongman
Could you name me one country on the world that doesn't implement fiat currency as it's monetary policy?.Quote:
Originally Posted by epxroot
That's how it's been for quite sometime. A sudden revert to the gold standard would devalue the dollar so badly, the consequences would be far greater than the depression. The value of the dollar is tied to the speculation of government demand, and it's not a bad thing to be able to calculate demand based on trends. The government just has to stop spending so goddamn much, that's the problem.
I believe in order to get this country back on strong fiscal ground its going to take some hard choices.Is it fair to leave this debt for the next generation just because our greed got away fom us?
Base the dollar on real assets not just paper.And get rid of the debt asap! My choice would be to renegotiate lending rates or threaten to just default. What are they going to do? Come reposess us?
They couldn't repossess you, because there is nothing of value to take. They would have to write it off. Basically you'd end up with a government that would no longer function. That would no longer have the means to pay to perform services. That would send the country into anarchy.
Change would have to come in a subtle form of fiscal responsibility and restraint, not a revert back to the gold standard, which would destroy the country.
Guess the entire world is in for a suprise then because that system of backing currency is long gone.Quote:
Originally Posted by epxroot
Gold standard
Main article: Gold standard
The gold standard is a system in which the price of the national currency as measured in units of gold bars and is kept constant by the daily buying and selling of base currency to other countries and nationnals. (i.e. open market operations, cf. above). The selling of gold is very important for economic growth and stability.
The gold standard might be regarded as a special case of the "Fixed Exchange Rate" policy. And the gold price might be regarded as a special type of "Commodity Price Index".
Today this type of monetary policy is not used anywhere in the world, although a form of gold standard was used widely across the world prior to 1971. For details see the Bretton Woods system. Its major advantages were simplicity and transparency.
Monetary policy - Wikipedia, the free encyclopedia
Look up how currency is valued based on a peg, basket, float.....
This "business" we call our country is just like any other.......income, debits, credits, etc........
Have a good one!:s4:
There are none thats the problem. All of the worlds money is controlled by a banking system that controls the money in the world. Who do you think owns these banks, the people? Just so you know the dollar is already crashing and has been crashing. The euro is already worth more than the dollar, and there is talk of the euro becoming the new standard for world trade, and dumping the US dollar. China is already dumping it's investments in US currency along with other countries. A world based on a fiat system with nothing backing any of the money is up is heading towards a world collapse in the economy. That would mean we would need a one world economy, and who do you think would be in charge of this one world economy? The same people who were at fault for the collapse of it. Right now the US dollar is in trouble and in a bad way.Quote:
Originally Posted by thcbongman
Our system is ran on Debts and Credits which is kinda weird since we have been taught all our lives that debt is bad. But yet we still think we can pay off this debt that we are in, but what a lot of people don't understand is that there is not even close to enough money in circulation to pay this debt off. We would be wise to go back to having something giving our money value. If gold is so bad why are all the rich of the world investing in it? I'll tell you why because precious metals and stones are the only things that hold value. Right now an ounce of gold is over $800 due to how bad our dollar is right now. I could go on typing more, but I am tired so more than likely this post may seem confusing. guess I should have just posted it tomorrow. Plus there is a lot to try and type in one post to explain.
Exactly!Quote:
Originally Posted by Psycho4Bud
We just need to back off this idea that debt is OK. Its not.You pay as you go. Ron Paul would be the only presidential candidate capable of doing this. All other candidates will just continue raising our national debt.
Just default on the loans. If we didn't have to pay the exorbitant interest rate we would be fine. So then whats the worse than can happen. Nobody will loan us money anymore. Good fuckem
Seriously, either you have the dems creating a crapload of new socialist programs or the neo-cons going to war with Iran, either way the country is heading towards bankruptcy. If Ron Paul looses the primary I'm not voting, nobody else is worth voting for.Quote:
Originally Posted by killerweed420