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Cannabischarlie
Resident badass


Registered: 11/28/05
Posts: 14,760
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Re: A decent appraoch to wars in the Middle East [Re: qman]
#18711889 - 08/15/13 10:24 PM (10 years, 6 months ago) |
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What about backing our currency in Marijuana? 
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we could all use a little more sunshine.
yeah, she's funny and somewhat interesting. not a beauty queen, but not bad lookin. i'd feel quite honored to fuck janine garofalo. -tiny_rabid_birds
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mylfgur
Untitled



Registered: 05/23/10
Posts: 1,282
Loc: Ohio
Last seen: 9 years, 2 months
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Re: A decent appraoch to wars in the Middle East [Re: qman]
#18711960 - 08/15/13 10:33 PM (10 years, 6 months ago) |
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qman said:
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mylfgur said:
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qman said:
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Cannabischarlie said: i don't think a common currency would ever be feasible
A gold backed currency is more the norm than not in human history, this 40 year period of fiat money backed by nothing is just an experiment, one that will go bad someday.
40 years seems a little short of a time frame. Fiat currency has been around in the US since basically its inception. The slippery slope began when the gold standard was abandoned in WWI not even two decades after it was imposed. The Great Depression marked the death of the gold standard globally. Even though US dollars were technically "backed by gold" until Nixon's term as president, the government simply used market rates of gold.
But haven't we reached the point in cultural evolution where human capital is far more valuable than a shiny metal? Don't get me wrong, gold and silver have their own uses but I'm pretty sure that technology, food, and medicine are far more valuable as pseudo-currencies, backed by fiat currency. Since these products are either necessary to continuing life or improve the quality of life, they in themselves give value to the currencies that prop up the state and its human capital that produces them.
I could argue that oil has become the major commodity that fiat currency is backed by, as well. Since the Marshall Plan in Europe after WWII which lent a hand in switching European countries off of coal and on to oil--a product that was produced mainly by the US and the Middle East at the time. The pipeline from Saudi Arabia cemented the European addiction to oil being purchased in American dollars. The idea of "Dutch Disease" as applied to oil-producing countries (mainly nationalized oil) really exemplifies how the resource has become entrenched in fiat currencies around the world.
"The Great Depression marked the end of the gold standard globally"
How do you figure?
The problem with oil is, it's not money, central banks can't store oil, it's not practical. The "Petro Dollar" is what backs up the US currency today, which is created with military force.
Maintaining the petro dollar is the main goal, but China, Russia, and others in the Middle East don't think it's fair, because it's not fair. If or when the world rejects the petro dollar, it will not be a good thing for the US, some think it's just a matter of time.
14 countries abandoned gold in 1931. The US retracted gold from circulation in 1933. After WWII, the petrodollar was cemented.
I get that the petrodollar is "unfair" in many ways but its not like Russia and China don't use petroleum. It is a matter of time before the petrodolar falls, but as long as oil is profitable the US will continue to export force to maintain the circumstances. It's scary how the monopoly over a natural resource that the petrodollar maintains also maintains the US monopoly of force around the world, and vice versa. It's a self-fulfilling prophecy.
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qman
Stranger

Registered: 12/06/06
Posts: 34,927
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Re: A decent appraoch to wars in the Middle East [Re: mylfgur]
#18713584 - 08/16/13 08:42 AM (10 years, 6 months ago) |
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Quote:
qman said:
Quote:
mylfgur said:
Quote:
qman said:
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Cannabischarlie said:
40 years seems a little short of a time frame. Fiat currency has been around in the US since basically its inception. The slippery slope began when the gold standard was abandoned in WWI not even two decades after it was imposed. The Great Depression marked the death of the gold standard globally. Even though US dollars were technically "backed by gold" until Nixon's term as president, the government simply used market rates of gold.
But haven't we reached the point in cultural evolution where human capital is far more valuable than a shiny metal? Don't get me wrong, gold and silver have their own uses but I'm pretty sure that technology, food, and medicine are far more valuable as pseudo-currencies, backed by fiat currency. Since these products are either necessary to continuing life or improve the quality of life, they in themselves give value to the currencies that prop up the state and its human capital that produces them.
I could argue that oil has become the major commodity that fiat currency is backed by, as well. Since the Marshall Plan in Europe after WWII which lent a hand in switching European countries off of coal and on to oil--a product that was produced mainly by the US and the Middle East at the time. The pipeline from Saudi Arabia cemented the European addiction to oil being purchased in American dollars. The idea of "Dutch Disease" as applied to oil-producing countries (mainly nationalized oil) really exemplifies how the resource has become entrenched in fiat currencies around the world.
"The Great Depression marked the end of the gold standard globally"
How do you figure?
The problem with oil is, it's not money, central banks can't store oil, it's not practical. The "Petro Dollar" is what backs up the US currency today, which is created with military force.
Maintaining the petro dollar is the main goal, but China, Russia, and others in the Middle East don't think it's fair, because it's not fair. If or when the world rejects the petro dollar, it will not be a good thing for the US, some think it's just a matter of time.
14 countries abandoned gold in 1931. The US retracted gold from circulation in 1933. After WWII, the petrodollar was cemented.
I get that the petrodollar is "unfair" in many ways but its not like Russia and China don't use petroleum. It is a matter of time before the petrodolar falls, but as long as oil is profitable the US will continue to export force to maintain the circumstances. It's scary how the monopoly over a natural resource that the petrodollar maintains also maintains the US monopoly of force around the world, and vice versa. It's a self-fulfilling prophecy.
"The US retracted gold from circulation in 1933."
This had nothing to do with the gold standard, the US dollar was still backed by gold.
A gold standard does not mean physical gold is used for monetary transactions, fiat paper is backed by gold, usually at a fixed price.
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unknown1123
Experimental

Registered: 05/15/08
Posts: 5,813
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Re: A decent appraoch to wars in the Middle East [Re: qman]
#18713589 - 08/16/13 08:44 AM (10 years, 6 months ago) |
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Quote:
qman said:
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unknown1123 said: It's a paraphrase from a retired major general
Someone has to spread the propoganda, scaring people usually is the best way.
Get out of your mom's basement from time to time
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qman
Stranger

Registered: 12/06/06
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Re: A decent appraoch to wars in the Middle East [Re: unknown1123]
#18713607 - 08/16/13 08:49 AM (10 years, 6 months ago) |
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Quote:
unknown1123 said:
Quote:
qman said:
Quote:
unknown1123 said: It's a paraphrase from a retired major general
Someone has to spread the propoganda, scaring people usually is the best way.
Get out of your mom's basement from time to time 
What's your point? Or do you even have one?
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mpd
Lammen Gorthaur



Registered: 10/22/12
Posts: 9,660
Loc: Mostly at home... Mostly....
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Re: A decent appraoch to wars in the Middle East [Re: qman] 1
#18713630 - 08/16/13 08:55 AM (10 years, 6 months ago) |
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Death and destruction to America's enemies. We should have MORE wars so that we can liquidate all of those loser, goober nations in the Middle East. Face it, those people are genetically incapable of governing their own affairs and acting in any sense of decorum.
Death should come as a much desired release. Let's release them.
Vote Libertarian. We hate everyone equally.
-------------------- There is no truer calling for mankind than that of true conservatism.
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Gilgamesh18
Herbivore Man

Registered: 03/01/12
Posts: 11,671
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Re: A decent appraoch to wars in the Middle East [Re: mpd]
#18713635 - 08/16/13 08:57 AM (10 years, 6 months ago) |
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Quote:
mpd said: Death and destruction to America's enemies. We should have MORE wars so that we can liquidate all of those loser, goober nations in the Middle East. Face it, those people are genetically incapable of governing their own affairs and acting in any sense of decorum.
Death should come as a much desired release. Let's release them.
Vote Libertarian. We hate everyone equally.
Libertarians are anti war if you want more wars keep voting in neo con hawks.
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