On Sat. I gave a friend even odds on a run on the US $ in the next two years....

That will probably change a bit this week, who knows which direction.

there will be no depression or runs on the dollar because the US is no longer tied to gold. that's right, that was the biggest determining factor of the great depression.

at some stage some of you are bound to figure this out.

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Originally posted by pkcRAISTLIN there will be no depression or runs on the dollar because the US is no longer tied to gold. that's right, that was the biggest determining factor of the great depression. at some stage some of you are bound to figure this out.

And now the dollar is based on faith in the US.

You really think that's better then gold right now???

A friend of mine pointed out that currency is like the stock of a country. It seems to be a good way to think.

The depression had little to do with gold, it had many other factors including a disasterous drop in the stock market that wipped out many people and caused a liquidity crisis where people who actually had money didn't want to lend it to anyone or to invest in anything because they were spooked by the failing of a system they thought was "right".

Lucky that will never happen again..............................

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Originally posted by atbell And now the dollar is based on faith in the US. You really think that's better then gold right now??? A friend of mine pointed out that currency is like the stock of a country. It seems to be a good way to think. The depression had little to do with gold, it had many other factors including a disasterous drop in the stock market that wipped out many people and caused a liquidity crisis where people who actually had money didn't want to lend it to anyone or to invest in anything because they were spooked by the failing of a system they thought was "right". Lucky that will never happen again..............................

Banks buying shit up... then collapsing.

Deja Vu.

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Originally posted by atbell And now the dollar is based on faith in the US.

so?

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Originally posted by atbell You really think that's better then gold right now???

of course.

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Originally posted by atbell The depression had little to do with gold,

wrong.

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Originally posted by atbell it had many other factors including a disasterous drop in the stock market that wipped out many people and caused a liquidity crisis where people who actually had money didn't want to lend it to anyone or to invest in anything because they were spooked by the failing of a system they thought was "right".

...which had everything to do with gold.

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They way the economy is comming apart is just so sad, I cant believe the U.S. has let themselves get to this point. It just feels like that every day it isnt getting better.

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Kill 1 Person thats Murder, kill 100,000 People thats foriegn policy!

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Originally posted by pkcRAISTLIN so? of course. wrong. ...which had everything to do with gold.

The exact same thing is happening again. First case = gold standard, Second case = no gold standard.

That's pretty much a direct contradition to your last point.

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Originally posted by Chryz707 They way the economy is comming apart is just so sad, I cant believe the U.S. has let themselves get to this point. It just feels like that every day it isnt getting better.

It's been like this for years. Anyone who pointed it out was black balled, ridiculed, and assured that any job in finance, academics, or corporate organizations would be given to someone "more positive".

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Originally posted by atbell The exact same thing is happening again. First case = gold standard, Second case = no gold standard. That's pretty much a direct contradition to your last point.

its the "same thing" in that there is a crash in the banking sector.

i hate to break it to you, but crashes and corrections and complete collapses are all part of capitalism. you want a free market? this shit will happen from time time. in lots of different ways.

im not saying that economies are great and awesome when they arent tied to a commodity standard like gold. what im saying is that the great depression was made "great" because of gold. gold caused it.

fiat money is not the cause of the so-called credit crunch.

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You really think that's better then gold right now??? The depression had little to do with gold,

if the US was on gold now you'd be super butt-fucked, rather than just regularly butt-fucked.

the principle cause of the great depression was that the countries on gold couldn't stimulate their economies because they were tied to it. im not lying, go look it up. the countries that abandoned gold early, largely escaped the depression.

no one's saying that governments should be able just to print money willy-nilly, but any discussion about gold is like talking about bringing back monarchies. its a step backwards.

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Jim Cramer says we should be out of the woods in eight months... woot!

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Originally posted by pkcRAISTLIN fiat money is not the cause of the so-called credit crunch.

yet...

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if the US was on gold now you'd be super butt-fucked, rather than just regularly butt-fucked.

I think I mis-understood you. I don't know enough to say either way if a gold standard makes things better or worse.