if it weren't for us buying alaska, russia would have invaded you already

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"You won a new refrigerator, great! Where you gonna put it?" - Tony Danza

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Originally posted by Marc Summers if it weren't for us buying alaska, russia would have invaded you already

That's a weak comeback .

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Orbax At that point you kind of crossed the rubicon and you might as well lay siege to Rome

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Originally posted by venomX That's a weak comeback .

Probably true though.

The aussie dollar's nudging 90c US as well. Good time to go an an Amazon spending spree I think.

Thanks George!

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I'm not sure if occ will be around to read this, but I remember previously he was worried that under some leaders (such as Paul) there would be a return to the valuing of the dollar based on the gold standard. I wonder if he still thinks this is a poor idea based on the recent and continued fall of the dollar? I've heard some people (borderline conspiracy theorists) state that the horrific devaluing of the dollar is an intentional action. Anyone heard anymore on that matter?

I think most people against going to a gold standard usually have a personal stake in the issue. Either their careers are based on the fiat money system we have now, or their political beliefs (welfare statism) require an continuously expanding money supply with no natural restraint on government spending.

Paul has stated several times that he would not return the country to the gold standard, but that it would be a long-term goal. He would only make gold more competitive.

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Originally posted by Capitalizt I think most people against going to a gold standard usually have a personal stake in the issue. Either their careers are based on the fiat money system we have now, or their political beliefs (welfare statism) require an continuously expanding money supply with no natural restraint on government spending.

Pardon my ignorance, but what's the difference?

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"...End? No, the journey doesn't end here. Death is just another path...one that we all must take.
The grey rain-curtain of this world rolls back, and all change to silver glass...and then you see it...
...white shores...and beyond...the far green country under a swift sunrise."

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Originally posted by Fir3start3r Pardon my ignorance, but what's the difference?

Our currency today is literally backed by but debt...and the promise of our government to someday repay that debt..

Under a gold standard, every dollar would be backed by physical gold...and if every dollar was accounted for and fixed to the price of gold (1/734 oz currently), government would lose it's ability to print money at will. Today, when congress can't collect enough taxes to fund it's programs, they simply borrow the money (from themselves), print up a little more paper, and buy what they need with that new "money". This dilutes the value of the currency in existence and causes inflation. The gold standard will prevent this type of behavior...forcing politicians to either raise taxes to pay for their extravagant spending (and get voted out of office), or to live within their means and maybe cut this $3 trillion monster in Washington down to a more reasonable size.

i read something like this in the back of the bible

laugh all you like firestarter, but i don't want to hear your crying when all the people from Jersey stop going to your clubs and making them cool and stuff

quote:

Originally posted by Capitalizt Our currency today is literally backed by but debt...and the promise of our government to someday repay that debt.. Under a gold standard, every dollar would be backed by physical gold...and if every dollar was accounted for and fixed to the price of gold (1/734 oz currently), government would lose it's ability to print money at will. Today, when congress can't collect enough taxes to fund it's programs, they simply borrow the money (from themselves), print up a little more paper, and buy what they need with that new "money". This dilutes the value of the currency in existence and causes inflation. The gold standard will prevent this type of behavior...forcing politicians to either raise taxes to pay for their extravagant spending (and get voted out of office), or to live within their means and maybe cut this $3 trillion monster in Washington down to a more reasonable size.

Ah, makes sense.
Thanks Cap

___________________
"...End? No, the journey doesn't end here. Death is just another path...one that we all must take.
The grey rain-curtain of this world rolls back, and all change to silver glass...and then you see it...
...white shores...and beyond...the far green country under a swift sunrise."