* Jason Hall [Fri, 25 Jan 2008 at 09:14 -0700] <quote> > On Jan 24, 2008 10:38 PM, Von Fugal <[EMAIL PROTECTED]> wrote: > > > * Justin Findlay [Thu, 24 Jan 2008 at 21:45 -0700] > > > > Getting off the gold standard is bad. > > > > > > I guess we've been in a bad situation for the past 112 years. > > > > As a matter of fact... > > > > Actually the Gold standard has more than it's fair share of warts. It's
Maybe so. > largely flawed as equally as the pure GNP (Fiat) standard we run now. This Certainly not equally. Google for dollar value, and see what your precious fiat is worth. Even better search for dollar since 1913. I see many sources that all say the dollar lost somewhere from 90% to 96% of it's value since 1913.[1] That's like 5 cents (easy math, there). And this is consistent with another source that says the number of dollars to equal one dollar of 1913 with a table, on 2006 is $20.18.[2] Again, that's less than 5 cents! Other sources say the dollar is worth from about 10 to 20 cents now compared to 1950.[3] If you look at the entire history as a whole, there is an undeniable downward trend, and not just a mild one, either. Now government spending is catching up even with the gross incompetency of the Federal Reserve. If we maintained at least this constant rate of inflation all might not be so bad, but in late years things have gotten so out of hand that now other countries are all but giving up entirely on the US Dollar. Bad news for us. > is one of the thing that really annoys me with the politics of the > libs/cons/ and other political groups I normally associate with. They point > at our old standard and how it must be better because of the problems we > have now. Well we had problems them, which are massively compounded by > certain events that happened in WWII (global gold ownership, etc), plus the > effect this has on the more struggling economies. Eh? We weren't on any gold standard in WWII. The Fed was well established by then. Some even say that it was America that dragged the rest of the world into the great depression. I guess those countries dropping us like rocks now couldn't do better for themselves. > Frankly, the gold standard is only good for those countries that currently > own the gold, and will put existing third world countries in an even harder > spot, making trade *much* more difficult. And that's some of the smallest > concerns in terms of problems with the gold standard. At least they actually have something. The counterfeit money standard is only good for those that print the money and those that sell stuff directly to those that print the money. In this case, it's the government and warmongers whom the government buys weapons from (among others, as we all know it's not JUST the war, that's just an example). The rest of us pay for it through increased prices, fewer jobs, lower wages, and diminishing returns, worthless savings, and probably no retirement. > It has merits, but no more that what we are currently running (which I don't > care for either). Some good Econ courses can help learn about other > systems, especially in the relatively new concept of global economics. As I conceded at the beginning, the gold standard probably has it's own faults indeed. But why should we have any one standard? Especially in a global economy? We should put our monetary system to the same principles as the rest of our economy. Free Market. I can't believe the Fed ever got the exclusive monopoly on all things money, nor that it has kept it for this long. It's time to throw it out the window. Von Fugal [1] http://www.gold-eagle.com/editorials_04/norcini080604.html http://minneapolisfed.org/Research/data/us/calc/ http://www.infoplease.com/ipa/A0001519.html http://www.libertydollar.org/information/pdfs/color-brochure.pdf http://disc.yourwebapps.com/discussion.cgi?disc=149495;article=116752;title=APFN http://www.norfed.org/ http://answers.yahoo.com/question/index?qid=20071118221922AA2vdD5 http://www.swissamerica.com/article.php?art=03-2007/200703231220f.txt This last one claims a 3 cent dollar since 1915, but they're trying to sell gold. http://www.google.com/search?ie=UTF-8&oe=UTF-8&sourceid=navclient&gfns=1&q=dollar+since+1913 [2] http://www.infoplease.com/ipa/A0001519.html http://minneapolisfed.org/Research/data/us/calc/ [3] http://dailyfrn.blogspot.com/2007/11/inflation-1950-dollar-worth-only-12.html http://minneapolisfed.org/Research/data/us/calc/ http://www.infoplease.com/ipa/A0001519.html http://tobefree.wordpress.com/2007/11/30/inflation-%E2%80%93-1950-dollar-worth-only-12-cents-today/
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