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Morel Guy
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Re: Trumps Cabinet pick - Absolutely terrifying [Re: Morel Guy]
#23936307 - 12/17/16 07:38 PM (7 years, 1 month ago) |
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Gold is still sensitive to currency manipluation if on the gold standard. Russia is buying lot's of gold and could dump a bunch of manipulate the standard. God knows how much undiscovered gold is in Russia.
They think there is gold miles down in bedrock in Ohio. I guess it's like oil or other minerals. Depends on market value to what is worth the cost of getting to.
-------------------- "in sterquiliniis invenitur in stercore invenitur" In filth it will be found in dung it will be found
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akira_akuma
Φύσις κρύπτεσθαι ὕψιστος φιλεῖ


Registered: 08/28/09
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Re: Trumps Cabinet pick - Absolutely terrifying [Re: hostileuniverse]
#23936331 - 12/17/16 07:49 PM (7 years, 1 month ago) |
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qman said:
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akira_akuma said: no, just that the monetary system is based on the sale of gold.
x2
No, it's based on the production of gold, which adds 2% per year of the total amount of gold that currently exists.
A gold standard brings descipline into the monetary system, it's not a perfect system but it's better for the average person more so than the current fiat money system.
sure, that's where we agree...(though it's temporary a fix) but to correct your foolish assertion that the monetary system we're discussing is not based on the sale of gold...markets are based on saleable commodities...gold is a commodity...hence the market will be based on the sale of that commodity; that, along with it's "production" (ie, it's extraction- you don't produce gold, unless you want a fiat system of currency to fund the massive undertaking, that is) --that is to say, you "produce" gold, to put into the market, as currency.
especially if you mint gold, you'll definitely need to maintain a low inflation. if it's simply gold-backed paper, the notion still stands- you need to be able to make sales in the marketplace to make currency valuable...and meaningful.
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hostileuniverse said:
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akira_akuma said: no, just that the monetary system is based on the sale of gold.
x2
Your assumption is flawed, it's not based on the sale of gold
             
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hostileuniverse said: Absolutely, this is why we went off the gold standard in the first place, so they didn't have to back up their currency/debt
It's truly disgusting what our leaders have done
           
they did it because it was a provision to impart health on a failing system of currency.
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hostileuniverse said:
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Morel Guy said: No gold standard is not based on production of gold but the nation holding of gold. It would also be illegal to possess gold other than jewelry. Just as it used to be. So no more holding pure gold privetly.
Only if the govt outlawed it again,
there is no reason to do that, but I'm sure a democrat would,
***just like last time
you have no clue how much gold people you admire would hoard from you if the case was that you could hold onto gold bullion blocks...and you want a god standard currency...lol...fuck me. laughable.
Edited by akira_akuma (12/17/16 07:55 PM)
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qman
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Re: Trumps Cabinet pick - Absolutely terrifying [Re: Morel Guy] 1
#23936384 - 12/17/16 08:09 PM (7 years, 1 month ago) |
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Quote:
Morel Guy said:
Quote:
qman said:
Quote:
Morel Guy said: No gold standard is not based on production of gold but the nation holding of gold. It would also be illegal to possess gold other than jewelry. Just as it used to be. So no more holding pure gold privetly.
Yes, it is based on the nation holding the gold, but the production is key because there's no risk of the current gold being diluted with new supply.
Your gonna have to explain that more. Cause that appears to counter what your saying.
Gold is difficult to find and mine, there's little risk of creating too much of it in a short period of time, therefore inflation should remain under control.
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Morel Guy
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Re: Trumps Cabinet pick - Absolutely terrifying [Re: qman]
#23936399 - 12/17/16 08:13 PM (7 years, 1 month ago) |
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On he gold standard inflation wouldn't matter with how much is mined. It would be harder currency. But it could still be manipulated. Although somewhat difficult to manipulate.
-------------------- "in sterquiliniis invenitur in stercore invenitur" In filth it will be found in dung it will be found
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Falcon91Wolvrn03
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Re: Trumps Cabinet pick - Absolutely terrifying [Re: qman]
#23937150 - 12/18/16 03:02 AM (7 years, 1 month ago) |
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Seriously? There's people out there arguing for a gold standard? I just started a new thread to discuss this further.
-------------------- I am in a minority on the shroomery, as I frequently defend the opposing side when they have a point about something or when my side make believes something about them. I also attack my side if I think they're wrong. People here get very confused by that and think it means I prefer the other side.
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hostileuniverse
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Our money shouldn't be based on anything, and govt should be able to print endlessly
***just think about that
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