The gold standard

[Hemidakota]

Central Banks?

[JohnBirchSociety]

Central Banks?

They'll just print it...

Wow! I love getting a pay-cut...

[Hemidakota]

As Credit Card Culture Turns 50, Credit Cardholders Bill Up for Legislation

LDSLiving News

[Hemidakota]

Banks say they're using bailout money for loans

Banks say they're using bailout money for loans - Forbes.com

[a-train]

We believe the legislation as passed . . . has the potential of increasing overall costs to consumers, reducing access to credit, and reducing or eliminating low-rate options for consumers,” said Stephanie Jacobson, first vice president of public affairs for Chase Credit Card Services in an issued statement.

The question is whether she thinks that is good or bad.

-a-train

[Hemidakota]

-- At the closing bell, Dow drops below 8,000 for the first time since March 2003. S&P 500, Nasdaq each plunge 6%.

[threepercent]

The gold standard isnt about gold, its about "real money"

all "real money" is just something that meets the standards put forth by a train a few pages back. gold has always met all the standards of money fairly well. look at the times when tobacco has been used as money to get a good understanding of what "money" is.

the main things it needs are portability and intrinsic value.

http://video.google.com/googleplayer.swf?docId=3051024550497129264&hl=en

to understand money, you first need to understand money.

and you need to understand just what the federal reserve is and what it has done to us, our children, and the world. there is a reason the truth will set you free and a reason that armies and navies are not raised but bought.

war is really what this thread is about.

[JohnBirchSociety]

The gold standard isnt about gold, its about "real money"

all "real money" is just something that meets the standards put forth by a train a few pages back. gold has always met all the standards of money fairly well. look at the times when tobacco has been used as money to get a good understanding of what "money" is.

the main things it needs are portability and intrinsic value.

http://video.google.com/googleplayer.swf?docId=3051024550497129264&hl=en

to understand money, you first need to understand money.

and you need to understand just what the federal reserve is and what it has done to us, our children, and the world. there is a reason the truth will set you free and a reason that armies and navies are not raised but bought.

war is really what this thread is about.

You should read, if you haven't already, "MONEY: Ye shall have honest weights and measures". Simply the best treatise on the subject that's been written, and I've probably read them all.

Simply put, as I stated in my thread entitled "MONEY", money has four main elements:

1) Intrinsic value

2) Relatively scarce

3) Relatively durable

4) Easily divisable

A fifth element may be; money is anonymous.

You are right on! If you want to really know what is going on in our economy, you must know what money is.

[FunkyTown]

You should read, if you haven't already, "MONEY: Ye shall have honest weights and measures". Simply the best treatise on the subject that's been written, and I've probably read them all.

Simply put, as I stated in my thread entitled "MONEY", money has four main elements:

1) Intrinsic value

2) Relatively scarce

3) Relatively durable

4) Easily divisable

A fifth element may be; money is anonymous.

You are right on! If you want to really know what is going on in our economy, you must know what money is.

JohnBirchSociety, I agree wholeheartedly with you on this. However, the issue many will have is that the Gold Standard doesn't have the flexibility to handle crises of trade. Here is the crux of the argument though, JBS:

1) You and I like the Gold Standard because it forces countries to be conservative in their spending and trade.

2) Others do not like the Gold Standard because it forces countries to be conservative in their spending and trade.

When you look at the post-war market, countries were rebuilt overnight thanks to the flexibility of the new market rules: Germany, Japan and most of Europe would be very grateful for this help that happened.

Basically, the radical creation of money in an almost ex nihilo way allowed economies to fluorish with what is essentially slight of hand. However, the downside to this is economic bondage in the long run: Permanent inflation is constantly being fought back with permanent wealth creation. All it takes for a recession under this system is for the wealth -creation- to flounder for even a moment. All it takes for recession to stop is for wealth creation to kick in to overdrive. All of this sounds wonderful in theory, but when wealth creation -stops-, it all falls apart.

Compare this to the gold standard: The gold standard is not a standard of wealth creation. It is a standard of static wealth: If a country imports most items(Like Japan), they will be stuck in perpetual poverty, because that country must send gold in lieu of any deficit in trade. The wondrous nature of this is that, unlike the previous example, a wise and informed consumer basis will not crash. The previous economic system will force countries in to mounting debt that will eventually crush them, though it can be postponed with inevitable wealth creation. This economic system has no postponement - It will simply force a country to be wise in its trading or leave them lingering in the dust of poverty until another country decides it wants what that country has to trade.

[JohnBirchSociety]

As of today, the Standard & Poor 500 is worth an ounce (that's ONE ounce, folks!) of Gold.

Wow!