tea party ?'s and facts

uneverno

uneverno

Active Member
Originally Posted by stdreb27
http:///forum/post/3234626
The whole reason they came off of it was because it became too hard to peg. People were literally going to the bank, getting $$ of gold coins and melting them down, then turning around to sell them. They ended up having to pass a law banning owning silver and gold coinage, to try and curb the practice.
Between congress running our monetary policy and setting an artificial value on the USD. It would collapse our economy. You simply can't control something that big...
So, instead, we're trying to control something far bigger...
Think about it, every penny leveraged for the

[hr]
on your house, anything you have on a credit card, your car, it would all correct down. People literally wouldn't be able to buy anything on credit. That correction would take us back to the 20's or 30's.
And that would be bad because???
 
sickboy

sickboy

Active Member
Why does it matter if it is a piece of paper or a shiny rock? Dollars and Gold are only worth something b/c two parties agree that it is. I would say its a lot easier to control inflation with dollars.
 
sickboy

sickboy

Active Member
Originally Posted by uneverno
http:///forum/post/3234644
Perhaps. Fractional reserve banking is inflationary by design, however.
Exactly. Inflation is need to promote investment. Deflation with any duration is devastating to economies.
 
stdreb27

stdreb27

Active Member
Originally Posted by uneverno
http:///forum/post/3234637
So, instead, we're trying to control something far bigger...
And that would be bad because???
I typed this really long detailed reason for a gold standard to be impossible to implement. Then I hit back, and lost it all. But basically, you'd have 2 options either you'd have government arbitrarily setting the value of gold to the "worth" of the current wealth of the country creating a great reason for me to go to mexico buy all the gold I could get because I could come to the states and turn a huge profit.
Or make set gold to some sort of current market value. Then we'd have to some how shrink our money supply to fit it. And that would result in a huge decrease in the standard of living.
Originally Posted by uneverno
http:///forum/post/3234639
Our children's future.
At some point or another the house of cards always collapses.
what a cliche answer. The reality is congress wrote a charter for the fed, and can end the charter for the fed. The president nominates a leader, the senate approves him. Their buildings are federal buildings. you can't get any more government than that... My point is the federal reserve creates our currency, we don't pay them in nickles and dimes...
 
uneverno

uneverno

Active Member
Originally Posted by stdreb27
http:///forum/post/3234661
I typed this really long detailed reason for a gold standard to be impossible to implement. Then I hit back, and lost it all. But basically, you'd have 2 options either you'd have government arbitrarily setting the value of gold to the "worth" of the current wealth of the country creating a great reason for me to go to mexico buy all the gold I could get because I could come to the states and turn a huge profit.
Or make set gold to some sort of current market value. Then we'd have to some how shrink our money supply to fit it. And that would result in a huge decrease in the standard of living.
mmm. And fractional reserve banking coupled with outsourcing labor is increasing our standard of living? Not only that, but the value of any currency medium is arbitrary anyway. A dollar in San Francisco is a far cry from a dollar in Little Rock whether it be electronic, paper or metal.
what a cliche answer.
Sorry. I'll try to do better next time.
The reality is congress wrote a charter for the fed, and can end the charter for the fed.
But they won't because they're beholden to it. That charter was written by bankers and passed by Congressional "progressives" in the dark of night w/o a Constitutionally mandated quarum. It is no coincidence that, especially in these economic times, our current Vice-President is a wholly owned subsidiary of the bankers of Delaware.
The president nominates a leader, the senate approves him. Their buildings are federal buildings. you can't get any more government than that... My point is the federal reserve creates our currency, we don't pay them in nickles and dimes...
God forbid we did. Every nickel the Fed mints costs us 8¢ in metal value. We don't use pure copper for pennies anymore because the copper value is 3¢ per. Perhaps we should reduce currency even further to bits and bytes. At least they're free. Well, except for programming, electricity, electronic back up, encryption programs...
As for "any more government than that" that means me. There is no government without me. That the fed gets government property on which to operate their business? That just means free rent for them on my dime. I'd take that deal too.
My point is we're borrowing every dollar we print. Why?
 
bionicarm

bionicarm

Active Member
Originally Posted by stdreb27
http:///forum/post/3234661
I typed this really long detailed reason for a gold standard to be impossible to implement. Then I hit back, and lost it all. But basically, you'd have 2 options either you'd have government arbitrarily setting the value of gold to the "worth" of the current wealth of the country creating a great reason for me to go to mexico buy all the gold I could get because I could come to the states and turn a huge profit.
Or make set gold to some sort of current market value. Then we'd have to some how shrink our money supply to fit it. And that would result in a huge decrease in the standard of living.
what a cliche answer. The reality is congress wrote a charter for the fed, and can end the charter for the fed. The president nominates a leader, the senate approves him. Their buildings are federal buildings. you can't get any more government than that... My point is the federal reserve creates our currency, we don't pay them in nickles and dimes...
When did the Federal Reserve quit using gold as the standard for the value of the dollar? I remember growing up with pictures of Ft. Knox holding all the gold. Remember Goldfinger? Wasn't it his plan to set off a nuclear bomb in Ft. Knox to completely screw up the US currency system and put our country into economic turmoil?
So you're proposing we 'reset' the National Debt Clock and start all over? Who are 'what' do we owe this multi-trillion amount to anyway? I've read that China holds a bunch of our notes, but I know they don't hold them all.
 
stdreb27

stdreb27

Active Member
Originally Posted by bionicarm
http:///forum/post/3234671
When did the Federal Reserve quit using gold as the standard for the value of the dollar? I remember growing up with pictures of Ft. Knox holding all the gold. Remember Goldfinger? Wasn't it his plan to set off a nuclear bomb in Ft. Knox to completely screw up the US currency system and put our country into economic turmoil?
So you're proposing we 'reset' the National Debt Clock and start all over? Who are 'what' do we owe this multi-trillion amount to anyway? I've read that China holds a bunch of our notes, but I know they don't hold them all.
Well it was a process, but basically in the 70's we got completely off of it. The system we were on was called the Bretton Wood system. Basically in a nutshell a buncha countries got together and agreed on fixed exchanges rates based off the value of the USD which based that value on Gold. This was right after WWII. They'd played with some different stuff from the 20's to till WWII. And basically played fast and loose during WWII because well we were at war.
We haven't been on a true gold standard since the early 1900's. The Bretton Woods thing collapsed (dispite what Wiki says) because they couldn't keep the value of gold down, and ironically enough they were seeing inflation...
btw where is all this gold standard crap coming from, is Glen Beck stirring this pot?
 
sickboy

sickboy

Active Member
FYI- Only a little over 8% of the U.S.'s Reserve Assets are held in Gold Stock.
Yeah, where is this Gold Standard crap coming from? That would only make things worse, NOT better.
 
bionicarm

bionicarm

Active Member
Originally Posted by stdreb27
http:///forum/post/3234676
Well it was a process, but basically in the 70's we got completely off of it. The system we were on was called the Bretton Wood system. Basically in a nutshell a buncha countries got together and agreed on fixed exchanges rates based off the value of the USD which based that value on Gold. This was right after WWII. They'd played with some different stuff from the 20's to till WWII. And basically played fast and loose during WWII because well we were at war.
We haven't been on a true gold standard since the early 1900's. The Bretton Woods thing collapsed (dispite what Wiki says) because they couldn't keep the value of gold down, and ironically enough they were seeing inflation...
btw where is all this gold standard crap coming from, is Glen Beck stirring this pot?
I think this whole topic started with these statements from uneverno -
Eliminate the Federal Reserve CORPORATION.
Eliminate Fractional Reserve banking.
Return the responsibility of regulation of the currency and the coining of money back to Congress - make them put their money where their flappy jaws are.
 
uneverno

uneverno

Active Member
Oh sure - put the blame on me.

VinnyRaptor axed a question to which I provided a thoroughly opinionated answer and suddenly everything is my fault.
 
bionicarm

bionicarm

Active Member
Originally Posted by uneverno
http:///forum/post/3234694
Oh sure - put the blame on me.

VinnyRaptor axed a question to which I provided a thoroughly opinionated answer and suddenly everything is my fault.

No blame whatsoever. You've brought a very interesting perspective to the topic.
 
stdreb27

stdreb27

Active Member
Originally Posted by uneverno
http:///forum/post/3234679
uhuh. Resort to name calling when you cannot provide a reasonable retort. Typical liberal tactic.

nah, it is an argument I've heard about 1 million times from different sources. sorry, I had about 101 degree fever when I was posting last night, I was a little more sarcastic than usual last night. It is true, you're spending money that you're gonna tax from the poor children of our future.
Originally Posted by bionicarm
http:///forum/post/3234687
I think this whole topic started with these statements from uneverno -
Eliminate the Federal Reserve CORPORATION.
Eliminate Fractional Reserve banking.
Return the responsibility of regulation of the currency and the coining of money back to Congress - make them put their money where their flappy jaws are.
Nah but you've had about 4-5 different more right leaning people, and I've heard this gold standard crap from a lot of people from work too. I wrote a paper about this in college, I'm gonna go look and see if I can find it. I doubt it, but it was a good paper. Full of my "sense of humor" ie more football bat comments...
I guess at work because ron paul's rubbed shoulders with most of them, they're ron paul fans. So that would explain that...
 
stdreb27

stdreb27

Active Member
Originally Posted by sickboy
http:///forum/post/3234681
FYI- Only a little over 8% of the U.S.'s Reserve Assets are held in Gold Stock.
Yeah, where is this Gold Standard crap coming from? That would only make things worse, NOT better.
lol so assuming that number is true, and I have no doubt that it is, you're talking a "correction" that would make the Great Depression look like childsplay...
 
sickboy

sickboy

Active Member
Originally Posted by stdreb27
http:///forum/post/3234783
lol so assuming that number is true, and I have no doubt that it is, you're talking a "correction" that would make the Great Depression look like childsplay...
Exactly. Only enemies of America would try to go back to the gold standard.
I pulled it from here http://fms.treas.gov/
 
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