myths about the federal reserve

[Danke]

dujac
Banned

Last Activity:02-20-2011 08:46 AM

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neumoljiv
Member

Join Date:02-21-2011

 

[Danke]

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[neumoljiv]

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what's your point?

 

[Travlyr]

You should read "The Mystery of Banking" by Murray N. Rothbard because you misunderstand the origin of money. It starts with the basic necessities.

i read it long ago, rothbard's political views skew his objectivity

You should read it again for comprehension this time.

 

[neumoljiv]

You should read it again for comprehension this time.

what do you think i didn't comprehend?

 

[Travlyr]

what do you think i didn't comprehend?

The origin of money is from nature. Food is money. It just doesn't preserve as well as gold.

 

[neumoljiv]

The origin of money is from nature. Food is money. It just doesn't preserve as well as gold.

food is food, it takes abstract thinking to conceive it as money

 

[Travlyr]

food is food, it takes abstract thinking to conceive it as money

This is why I refer "The Mystery of Banking" to you. You could learn some truths.
If I have two fish, and you have four eggs, then we can use a fish and two eggs as a valuable medium of exchange for a nice balanced meal. What it takes to understand that food is money is not abstract thinking but honesty and comprehension.

 

[neumoljiv]

This is why I refer "The Mystery of Banking" to you. You could learn some truths.
If I have two fish, and you have four eggs, then we can use a fish and two eggs as a valuable medium of exchange for a nice balanced meal. What it takes to understand that food is money is not abstract thinking but honesty and understanding.

i think you understand that sort of barter is inefficient and generally archaic, over time the understanding of money theories have advanced to more productive and useful forms

 

[Travlyr]

i think you understand that sort of barter is inefficient and generally archaic, over time the understanding of money theories have advanced to more productive and useful forms

Yes. And this is most likely why gold, silver, and other commodities keep rising in value against the Fed's dollar.

 

[neumoljiv]

Yes. And this is most likely why gold, silver, and other commodities keep rising in value against the Fed's dollar.

generally, what goes up, comes down

 

[IBleedNavyAndOrange]

generally, what goes up, comes down

Could you offer some evidence on why you think the value of gold will drop in terms of FRNs

 

[neumoljiv]

Could you offer some evidence on why you think the value of gold will drop in terms of FRNs

do you think it'll go up forever?

 

[Dr.3D]

do you think it'll go up forever?

LOL, do you think the value of the current U.S. dollar will stay as high as it is forever?

 

[Fox McCloud]

generally, what goes up, comes down

I don't think anyone here is arguing that it'll trend upward, quickly, forever, but that it'll trend upward forever, as long as the Fed maintains a policy of inflation.

 

[neumoljiv]

I don't think anyone here is arguing that it'll trend upward, quickly, forever, but that it'll trend upward forever, as long as the Fed maintains a policy of inflation.

look at historical fluctuations in precious metal prices

LOL, do you think the value of the current U.S. dollar will stay as high as it is forever?

i've already said that generally, what goes up, comes down

but, one important difference between gold and us dollars, is elasticity of supply

 

[IBleedNavyAndOrange]

do you think it'll go up forever?

Actually I was just hoping for evidence that what you're saying is true.

But to answer your question, I think that eventually the gold price in FRNs will be stable. And by that I mean that no amount of FRNs will purchase any amount of gold. The caveat is that the current trend ends in its logical conclusion.

 

[neumoljiv]

Actually I was just hoping for evidence that what you're saying is true.

But to answer your question, I think that eventually the gold price in FRNs will be stable. And by that I mean that no amount of FRNs will purchase any amount of gold. The caveat is that the current trend ends in its logical conclusion.

what you wrote reminds me of this rhetoric from 1988



at 2:45 ron paul said, "I anticipate, and many Austrian free market economists anticipate, that the recession that's coming will not be a recession at all but it will a depression and it will probably be bigger than the one we had in the 1930s"

 

[Danke]

what you wrote reminds me of this rhetoric from 1988



at 2:45 ron paul said, "I anticipate, and many Austrian free market economists anticipate, that the recession that's coming will not be a recession at all but it will a depression and it will probably be bigger than the one we had in the 1930s"

Title to that video: "ron paul is a dishonest politician" huh?

 

[Chester Copperpot]

Seems like a depression is the only way to fix this bubble for the last 50+ years...