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Constitution Class - Happy 4th of July (pg. 19)
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| Kismet7 |
| quote: | Originally posted by pkcRAISTLIN
you understand nothing about economics. go to school. |
says a complete dolt "gold has value because people think it does" "oil has value because people says it does", "my ipod haszsz value because people say it does, it really hasnt value"
yes things only have value because people say it does...
"my toilet paper roll I wipe with is worth $5,000 because I say it does." -PKC Philos |
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| pkcRAISTLIN |
| excellent, you're learning. |
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| Moongoose |
| quote: | Originally posted by Kismet7
PKC...you are ignorant as they come. Gold has inherent value because you CANT endlessly print gold, you can only extract the limited supply from where it lays on earth. This is true for all earth derived commodities. There was a good reason why money's value was backed by gold before the federal reserve was created. The gold gave the money a measurable value, true value that could not be abused easily, and that value was accounted for by reserves. You can print fiat money endlessly, as they have been for the past 100 years.
Every day a dollar is printed, the value of the dollars in circulation drop, to combat the drop in value inflation of the prices of goods is introduced. Which allows the rich to endlessly scavenge off the poor who cannot keep up with taxes and inflation. The person who does not understand economics, and quite a few other topics is YOU, a senseless forum troll. :D |
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| iTranscendence |
| quote: | Originally posted by pkcRAISTLIN
money has value because we believe it does. just like everything else, including gold. economics 101 for noobs. you really should go to school.
Who are these families and syndicates btw? the central bank prints the money. the central bank is controlled by a government agency, the board of directors. |
http://www.lawfulpath.com/ref/federal_reserve.shtml
| quote: | | so you're against contracts between willing participants then? you dont think people should be able to borrow money? how very libertarian of you :haha: |
Nice try ass ferret. I didn't sign any contract with them and neither did the majority of the states, in fact none of them did. Also every supreme court case between 1913 and 1921 said the 16th gave no new powers of taxation. But do keep trying to pretend you know what the you are talking about and I don't.
:haha: |
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| Lilith |
| quote: | Originally posted by Trance Nutter
cool, so what can we do? |
Whine about it on the internet, that'll fix everything! |
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| pkcRAISTLIN |
all wrong, but thanks for trying.
| quote: | Originally posted by iTranscendence
Nice try ass ferret. I didn't sign any contract with them and neither did the majority of the states, in fact none of them did.
Also every supreme court case between 1913 and 1921 said the 16th gave no new powers of taxation. But do keep trying to pretend you know what the you are talking about and I don't.
:haha: |
see, you keep making so many stupid comments that its really hard to follow. firstly, you said this
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Sure, families and syndicates being able to print money with no value, and and then convince or coerce nation-states to take it on loan with interest paid back in the blood, sweat, tears wealth and land of those states isn't "unlimited resources". |
Now, i assumed you were talking about the US government, or the IMF/world bank etc, lending money. but apparently you're talking about US states being coerced into borrowing.
there were no "nation states" (in the US) by the time fiat money became standard in the US. so your evil scheming families can't have printed the money to coerce "nation states".
at least learn the basic definitions of all these terms you love to throw around. you have serious issues rationally explaining yourself, you should work on it so when you're leading the revolution people know which sandwich you're peddling.
so what then, is your position? i mean you bring up the 16th amendment re taxation, are you saying the government has no right to tax you? |
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| Lilith |
| quote: | Originally posted by pkcRAISTLIN
see, you keep making so many stupid comments that its really hard to follow. firstly, you said this |
Why do you keep providing mental pornography for these people PKC?
Somewhere, some dud is out there in front of his mass-manufactured computer, (probably an Apple) with his JAG jeans around his Adidas sneakers their dirty capitalist parents bought them, stuffing highly processed food into his mouth while swilling sugary caffeinated rubbish, just waiting for someone like you to come along and justify their current state of undress.
They're there in that state, for whatever mental malfunction, believing that they're truly correct, at some point there will be the second coming when it all comes true and then there's going to be a great and wonderful bollocking. Not that any of them are actually going to do anything because most of the western world is entirely too comfortable a place to be bothered getting off the couch in the first place to be properly angry about anything.
So, stop encouraging their self abuse. |
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| Lira |
| quote: | Originally posted by Kismet7
yes things only have value because people say it does... |
Pretty much, yeah.
The only reason why PKC's toilet paper isn't worth 5000 is because he has not yet found anyone else willing to buy it from him for that price. If, for whatever reason, something rare and desirable came out of his anus - such as the cure for a lethal disease - and laboratories were willing to acquire it from him, yeah, it'd be worth 5 thousand grands simply because people say it does. Mind you, this very special substance could be dripping off his bumhole right now but because it's still unknown and unacknowledged, it's not worth anything. The substance was always there, the perception that it is worth something is the only thing that changed.
Likewise, dollars are just pieces of paper that we agree are worth something. And gold is only worth anything because we say it is - if we instead decided seashells were more desirable and precious, then that's what we'd be exchanging right now, rather than any golden metal. |
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| pkcRAISTLIN |
| quote: | Originally posted by Lilith
Why do you keep providing mental pornography for these people PKC? |
i honestly have no idea. during the day its just to waste time at work. |
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| Comrade Stalin |
| quote: | Originally posted by Kismet7
PKC...you are ignorant as they come. Gold has inherent value because you CANT endlessly print gold, you can only extract the limited supply from where it lays on earth. This is true for all earth derived commodities. There was a good reason why money's value was backed by gold before the federal reserve was created. The gold gave the money a measurable value, true value that could not be abused easily, and that value was accounted for by reserves. You can print fiat money endlessly, as they have been for the past 100 years. |
Gold has no more inherent value than fiat currency does. The only reason you think gold has "value" is because you believe it does. In fact, gold is nothing more than a shiny metal. During a Hurricane Katrina in New Orleans, gold would be worthless, compared to food, water, and shelter.
You can't print fiat currency endlessly either or there will be runaway inflation. Only a noob would say 1-5% inflation is bad thing anyways. If the economy is expanding, it needs a money supply that is also expanding. Gold does not provide for that.
| quote: | | Every day a dollar is printed, the value of the dollars in circulation drop, to combat the drop in value inflation of the prices of goods is introduced. Which allows the rich to endlessly scavenge off the poor who cannot keep up with taxes and inflation. The person who does not understand economics, and quite a few other topics is YOU, a senseless forum troll. :D |
Gold is a perpetually deflationary monetary system. Your last statement is ironic because it shows that you clearly don't understand what the gold standard is, and you're a champion of it! Perpetual deflation is NEVER a good thing. |
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| occrider |
| quote: | Originally posted by Kismet7
Gold has inherent value because you CANT endlessly print gold, you can only extract the limited supply from where it lays on earth. This is true for all earth derived commodities. There was a good reason why money's value was backed by gold before the federal reserve was created. The gold gave the money a measurable value, true value that could not be abused easily, and that value was accounted for by reserves. |
Yup true inherent, unadulterated value that is not 'easily' abused or manipulated by markets. I mean really, if that's not a completely linear trend lacking any kind of pricing volatility due to doubts about the underlying value of a completely market derived price point for a commodity than what is? |
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| iTranscendence |
You're the best economic guy this forum has?
:stongue:
Look at me I can post graphs too. I can't believe you worked so hard spent so much time and money to know so much about markets and economics but still ended up devoid of any common sense.
Keynesian economics: like AIDS, but for money.
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