Recent content by CogWheeler

The best way to look at it: 4 more Obama, then a shot at electing Rand Paul, or many who'd be much better than Romney, as soon as 2016. Otherwise, 8 years of Romney will just deepen the scars of Bush, and add another 5 trillion to our children's debt.

Inflation incentivises investment, because there is a constant errosion of idle wealth. Deflation does the opposite. Why clear the banana fields to make "everyone wealthier", if it keeps me relatively even with them? I want to be a rich capitalist, wealthier than the others. If I have enough...

It's a problem for labor. Labor going up against a fixed sum of gold, drives down its price. There's always a crew with a fast "deflation is good" arguement, but this doesn't seem to register. Food stocks might grow faster than labor, thus keeping food affordable, but we've seen what happened...

As mentioned. Inflated gas prices inflate nominal GDP, which is argued as growth. Remember, we inflated our way around the OPEC crisis of the early 70's. Reality today is much different. Electricity is getting cheaper and no one is paying any attention. The spot market rate for a 1,000 kwh...

fresh article: http://seekingalpha.com/article/386111-a-return-to-the-gold-standard-could-destroy-the-modern-economy?source=email_cfa_daily&ifp=1 What he said. Its a great recap of how the gold standard fosters deflation, and how modern monetary theory recognizes that to keep the price level...

Why would a company, or more importantly its old-money decendants, want to make money if deflation effectively becomes their income and all they seek to do is live off of it? Trust me. I am equally amazed by you. And with the dropping yo-yo price level, are you chucking FR banking, or...

Yes, that's a fixed 1:1 currency. I get that. But then, I see where you are going, but there is no way to practically monetize these items, of increasing quantity and value, without growing or redefining the chosen menetary store of that value. In your case, the "eagle". Barter is another...

You are sounding more like a geologist, than a monetary economist. The idea gold would be produced at parity with economic growth is a stretch. You make a huge leap with that one. And, to suppose that going off to find gold would make up for excess labor? I'm not with you.

Pretty extraneous pile O’quotes, there. Greenspan was an exercise in Hayek gone bad. The "I think I've found a flaw" part. I spend my time cursing bankers up and down, and frequently use the T. Jefferson "inflate, and deflate" quote. You don’t need to lay that stuff on the choir. If Keynes...

...your cynicism can be cut with a knife. Only fear would suggest that floating currencies were designed specifically to pull the wool over everyone's eyes. Inflation happens with either type of currency, accept carrying gold around would just make it get out of control. There is no answer to...

Breitbart had not one, but several stories about that running at the same time. I'd be curious if that was the ONLY place this rumor started.

The first thing competing currencies will do is make Alexander Hamilton roll over in his grave. The next, will be to invite the repudiation of dollar denominated debt. Not sure I would be on board with that, but I see growing popularity. Probably early for a "viable" Presidential bid. No?

Yes, an academic point, which takes me to this: But my point is correct if the supply of money grows at the rate of potential GDP. The supply/demand of currency should be kept at equalibrium. That is one of the two goals of the Fed. The other being full employment, which fewer and fewer buy...

It is not ultimately healthy for prices to rise or fall, simply because there is a shortfall, or surplus, in the means of exchange, or currency. A fixed currency would lower prices, as you point out, but so too would income go down as there was less currency to buy labor. I think in that case...

Thanks for the replies. Paul did not elaborate on how, or if, he would adjust a peg in the posted video. And, thanks, rwpi, with a peg I suppose it would be possible to continue the central bank (they did it within the Bretton Woods framework). So, can we stick with going back to gold...