, I am a tight wad , so I should need nothing that costs more than an ounce of copper or a silver dime. Gold is for big spenders ,my main man Cubical can by an estate , lol , I already have one and do not like the property taxes.
Gold is no solution
- Thread starter pathtofreedom
- Start date
, I am a tight wad , so I should need nothing that costs more than an ounce of copper or a silver dime. Gold is for big spenders ,my main man Cubical can by an estate , lol , I already have one and do not like the property taxes.I agree Doc.
Acala
Member
- Joined
- Feb 14, 2008
- Messages
- 13,421
And it's use should not be penalized with taxes. And people should not be forced to use any currency they don't want to use.
IDefendThePlatform
Member
- Joined
- Jan 16, 2008
- Messages
- 2,884
If the govt hadn't attacked e-gold and liberty dollar they would both probably be pretty huge by now, with probably a competitior or two nipping at their heels. The Federal reserve would be on its way to obsolescence and worldwide wealth would be increasing at a much more consistent and higher rate without the leeches of govt siphoning off wealth.
There is no shortage of gold
http://www.thegoldstandardnow.org/t...-enough-gold-to-operate-a-gold-standard-today
pathtofreedom
Member
- Joined
- Apr 15, 2013
- Messages
- 364
Henry Rogue
Member
- Joined
- Aug 17, 2011
- Messages
- 4,677
FYI to all, pathtofreedom is a georgist or geoist. His avatar is of henry george. My guess is, this thread will lead to lvt eventually.
pathtofreedom
Member
- Joined
- Apr 15, 2013
- Messages
- 364
Why would it lead to LVT? This thread is specifically about the issue of Gold.
Last edited:
Henry Rogue
Member
- Joined
- Aug 17, 2011
- Messages
- 4,677
Just my prediction base on what i perceive is your agenda. My prediction could be wrong, we'll see how it plays out.
Zippyjuan
Banned
- Joined
- Feb 5, 2008
- Messages
- 49,008
No need to wait. It has been going on for dozens of pages already.
http://www.ronpaulforums.com/showthread.php?417194-The-Benefits-of-Land-Value-Taxation
I got bored with the LVT threads and their silly arguments so I have stayed out of this one.
pathtofreedom
Member
- Joined
- Apr 15, 2013
- Messages
- 364
If banks are just going to be operating under fractional reserve banking what is the point of gold?
And you don't have a clue.
Myth 1: There isn’t Enough Gold to Operate a Gold Standard Today
http://www.thegoldstandardnow.org/g...-enough-gold-to-operate-a-gold-standard-today
Myth 9: A Gold Standard is Vulnerable to Speculative Attacks
http://www.thegoldstandardnow.org/g...standard-is-vulnerable-to-speculative-attacks
matt0611
Member
- Joined
- Jan 28, 2011
- Messages
- 3,749
The money can only expand so much under a gold standard w/ fractional reserve banking. Under fiat it can expand indefinitely.
pathtofreedom
Member
- Joined
- Apr 15, 2013
- Messages
- 364
Complete nonsense money can expand just as much under gold with fractional reserve as it can today. In fractional reserve banking money is created. The majority of money some 90% is created by commercial banks.
matt0611
Member
- Joined
- Jan 28, 2011
- Messages
- 3,749
No, its not nonsense. You don't understand how FRACTIONAL reserve banking works, obviously.
It can only expand to a multiplier of the money supply. There is a LIMIT to what it can expand to. With fiat there is no limit.
We had fractional reserve banking under the gold standard and there was no huge loss of the money's value over 100 years like there has been from 1913-today.
Just take a look a graph of the value of the dollar. You'll notice it starts to drop massively after the end of the gold standard.
Last edited:
Byron Dale is an idiot.
Because banks offer bills of credit based on something tangible under a hard money standard.
Right now they offer credit based on...fiat government credit. It's a positive feedback loop of debt over debt over debt. When the crashes come the same feed back loop occurs but in reverse. Huge swaths of credit are destroyed as the system desperately seeks strong COLLATERAL.
When their core capital reserves deplete to the point of danger, depositors keep the bank honest by pulling their cash and rendering the bank insolvent (under a hard money standard where the government is not insuring debt over debt over debt deposits).
Hard money standards keep the over extensions at bay. The runs on banks happen far sooner than under a fiat standard. The misallocation of capital is discovered substantially sooner, thus the harm is limited because banks are constrained to servant, rather than government backed master.
Right now they offer credit based on...fiat government credit. It's a positive feedback loop of debt over debt over debt. When the crashes come the same feed back loop occurs but in reverse. Huge swaths of credit are destroyed as the system desperately seeks strong COLLATERAL.
When their core capital reserves deplete to the point of danger, depositors keep the bank honest by pulling their cash and rendering the bank insolvent (under a hard money standard where the government is not insuring debt over debt over debt deposits).
Hard money standards keep the over extensions at bay. The runs on banks happen far sooner than under a fiat standard. The misallocation of capital is discovered substantially sooner, thus the harm is limited because banks are constrained to servant, rather than government backed master.
Last edited:
Acala
Member
- Joined
- Feb 14, 2008
- Messages
- 13,421
I happen to think fractional reserve banking is fraud and should be treated as such. But even if you allow fractional reserve banking, the banks are limited in what they can do by the fear of bank runs. With no Fed and no fiat, they are at risk if they play their fractional reserve game. Additionally, with a free market in currency, you CHOOSE. If you don't want to take bank notes, because you are concerned about bank solvency, you don't. If you stick with gold itself or notes from trusted institutions with 100% gold backing of their notes, you will be fine.
Similar threads
