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Originally posted by DOOMBOT Dude, you're not even making any sense.

Whether I make sense to you is irrelevant. Someone who actually believes deflation is a good thing...now...you are the one who isn't making sense.

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Originally posted by DOOMBOT There is not a limited supply of gold/silver right now. There are still mining companies digging it up. You seriously didn't understand that from my previous response?

Oh, I understood what you said, alright!

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Originally posted by DOOMBOT LOL!!!!!!!! GOOD NIGHT!

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Perhaps the most fascinating discovery arising from researchers' broader international focus is that the extent to which a country adhered to the gold standard and the severity of its depression were closely linked. In particular, the longer that a country remained committed to gold, the deeper its depression and the later its recovery (Choudhri and Kochin, 1980; Eichengreen and Sachs, 1985). The willingness or ability of countries to remain on the gold standard despite the adverse developments of the 1930s varied quite a bit. A few countries did not join the gold standard system at all; these included Spain (which was embroiled in domestic political upheaval, eventually leading to civil war) and China (which used a silver monetary standard rather than a gold standard). A number of countries adopted the gold standard in the 1920s but left or were forced off gold relatively early, typically in 1931. Countries in this category included Great Britain, Japan, and several Scandinavian countries. Some countries, such as Italy and the United States, remained on the gold standard into 1932 or 1933. And a few diehards, notably the so-called gold bloc, led by France and including Poland, Belgium, and Switzerland, remained on gold into 1935 or 1936. If declines in the money supply induced by adherence to the gold standard were a principal reason for economic depression, then countries leaving gold earlier should have been able to avoid the worst of the Depression and begin an earlier process of recovery. The evidence strongly supports this implication. For example, Great Britain and Scandinavia, which left the gold standard in 1931, recovered much earlier than France and Belgium, which stubbornly remained on gold. As Friedman and Schwartz noted in their book, countries such as China--which used a silver standard rather than a gold standard--avoided the Depression almost entirely. The finding that the time at which a country left the gold standard is the key determinant of the severity of its depression and the timing of its recovery has been shown to hold for literally dozens of countries, including developing countries. This intriguing result not only provides additional evidence for the importance of monetary factors in the Depression, it also explains why the timing of recovery from the Depression differed across countries. The finding that leaving the gold standard was the key to recovery from the Great Depression was certainly confirmed by the U.S. experience. One of the first actions of President Roosevelt was to eliminate the constraint on U.S. monetary policy created by the gold standard, first by allowing the dollar to float and then by resetting its value at a significantly lower level. The new President also addressed another major source of monetary contraction, the ongoing banking crisis. Within days of his inauguration, Roosevelt declared a "bank holiday," shutting down all the banks in the country. Banks were allowed to reopen only when certified to be in sound financial condition. Roosevelt pursued other measures to stabilize the banking system as well, such as the creation of a deposit insurance program. With the gold standard constraint removed and the banking system stabilized, the money supply and the price level began to rise. Between Roosevelt's coming to power in 1933 and the recession of 1937-38, the economy grew strongly.

http://www.federalreserve.gov/board...022/default.htm

another economist disagrees with you.

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Originally posted by pkcRAISTLIN And how would you prevent the ridiculous amounts of market volatility that all our banks saw when issuing their own currencies?

What I can't get over is the fact that he seems to be advocating for currency competition in the free market. You'll go to McDonald's and they'll say, "oh, I'm sorry. We only take pink doubloons manufactured by Coca-Cola. Your company pays you in Snickers wrappers? Sorry!"

Because if the free market has been good at anything, it's limiting knock-offs and making competition fair, all on its own!

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Originally posted by culorut All he did was post exactly what the FED is doing to screw the system out of Treasury Bills and I just explained it in my previous post how they turn it into real money and deposit it into their own banks.

Let me get this straight. You'r saying the Federal Reserve is printing money in order to buy treasury bills and then what? Selling the treasury bills and taking the proceeds and storing them in private banks this robbing the system of liquidity?

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Do you have a skirt and pawn pawns on because it seems you know absolutely fuck all abut the banking system and are just here to be a cheer leader.

No, just allergic to stupidity.

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Originally posted by DOOMBOT They are clearly cheer leaders. Not one of them has really made a point for their team other then "Rah Rah" type posts. Perfect example is basically this... "DOOMBOT, tell us what you think influenced the Panics of the 1800s..." I do just that and when I simply ask for the other party to do the same, I get no answer. Any answer I do get is pretty much, "LOL YOU NOOB LOLLYLOO!" So yes, you hit the nail on the head. Cheerleaders. Or sheep, as I like to call them

And we get such naive statements as...

"Prices comes down in a deflationary spiral. Sounds good to me."
http://www.tranceaddict.com/forums/...ion#post9787361

We can't even argue with you because it's obvious you don't know what you'r talking about.

Last edited by Krypton on Jun-22-2009 at 06:16

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Originally posted by culorut You are right for once, they have no fucking idea where the money is. They say it themselves but I am sure you really watched the videos. And yes I have a pretty good idea where the money is, not where it should be you fucking idiot.

No, let's not spin this video out of context. The Inspector General does not know where the money is. That is not to say the Fed doesn't know where the money is.

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Originally posted by ******** So the fed definately has its roots in banking.. if you follow this these are just chairmen not every seat (that would take a lot of time to go through every fed director and their "occupation"/bakcground. None the less you should see that when the no more gold / war stuff came about... and things got all shook up... American accumulated massive debts, while getting massive assets from the wartorn countries. things continued this way untill things changed under burns, and stayed that way under miller with the new float. Since then things have stayed in motion.. but greenspan himself sat as a director of JP Morgan. It seems economists have been a mainstay miller - things took a definate change from BANKERS to ECONOMISTS (academics), but.. this is only the chairs.. the actual other govenors will show a lot more on trends of "who controls the reserve" But look to what the economists are advocating.. his interest in "political causes of the great depression.." - he blamed the banks. Take a look yourself and see - who the fed directors and their freinds are... Feel open to do your own homework.. this page will not see a book anytime soon. AND DON'T forget MORGAN WAS AN AGENT OF THE ROTHECHILDES OH and geuss who helped set up the federal reserve......... there are more twists and turns in the "bank world of the rotheschilds and their agents..." US steel is one of them... do your own research I'm not saying this is good or bad, but it would help if you knew what you were talking about

So if you'v worked for a bank in the past, you shouldn't work for the Fed huh? Just to make sure it can keep its "public" institutional status. No. The central bank hires economists, bankers, and financiers...the very people who know how the system works the best. Why does it surprise that bankers work at the Fed?

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Originally posted by DOOMBOT I agree.

Question, according to you, what country has a truly free market?

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Originally posted by DOOMBOT Why do you think this way though? Why are you so against the free market in deciding what is going to be used as money?

You don't even realize that the free market does decide in what is used as money. The very fact that absolutely everyone in this country uses the dollar to buy things should be a clue to you. Not to mention the fact that currencies are traded by the FREE MARKET on the foreign exchange market (FOREX) which should also be a clue to you. You can buy gold. You can buy silver. Euros and pounds.

So to say the free market does not decide what is used as money, shows a lack of understanding. The free market does decide what is used as currency by the simple act of using it. Just to make that clear. In fact, the FOREX is the largest market in the world, with daily turnover more than $3 trillion a day.

Last edited by Krypton on Jun-22-2009 at 06:19

To the people in this thread who try to argue economics without understanding the most basic principles of it...please for the love of any merciful god, before you share mosre stupidity, at least take the time to go trough a few of these videos


Description

I will not post a link to the download since im sure it isnt allowed but if you go to piratebay and search for "economics compressed" you will find what youre looking for.


Disk space taken : 2.5Gb
Hours spent watching: about 12
Never again looking like a retard because you're arguing economics without understanding the basic principles of it: Priceless

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