Removing the gold standard was a good thing. The Bretton-Woods system of currency exchange was not by any means efficient or market driven. Floating currencies are much better and allow for more economic growth.
Ya and floating currencies allow for economic growth in a much more natural manner. The gold standard actually put a massive artificial range on that. Currencies also follow supply and demand mostly based on economic health. Gold is a terrible measure of that
Growth comes from a lot more than deficient spending. Companies absolutely need credit to grow. The creates stability and on extreme circumstances liquidity. Credit liquidity is the basis of any modern economy. When it locks up you have another Great Depression on your hands. But yes let’s go against all the actual data and move back to an outdated and poor standard for our economy because as far as you can tell it’s good...
Allows for the legalization of theft via inflation. The dollar has lost 95% of its value since 1913. The central banks control the money supply, can’t be fully audited, have the IRS as their private gestapo extortion arm, and profit off our government’s debt/wars.
Gold standard is the way. It can be expanded slowly as the market grows but it can’t be manipulated easily unlike fiat currencies. The system we have now makes us serfs. We’re little income tax slaves while the central banks send billions of $ overseas and can’t be FULLY audited. Bring back gold. #ThouShallNotSteal
inflation happens either way as it shows even from 1913. Gold standard or not it’s a natural economic phenomenon not theft lol. Without inflation economies die.
What you talk about, “slowly” exapnding the market causes huge issues. The biggest being artificial limit on growth. It’s absolutely more manipulated that floating currencies. That doesn’t even begin to encompass the fact that gold is a terrible measure for economic health, something exchange rates encompass they’d be a proxy for gold market if that’s all it was. Again a mispecification for economic health. Don’t get me wrong metrics like purchasing power parity which account for 93 percent of the variance in exchange rates aren’t better but they are light years ahead of gold. What year do you think it is. 1650?
If you have actual economic reasons not vague statements please comment back if not and you just think monetary theory is some weird conspiracy then we go nothin to talk about with talking past each other
If artificial limits in growth with gold are what you’re worried about, consider that if economy is growing at a rate faster than the gold supply, then what happens to the demand of gold?
Increases.
What happens when demand increases?
It becomes more valuable and profitable.
If business is booming what then happens? More competition. More gold miners. More gold. Then economic expansion can reach an equilibrium again with the gold supply.
Fiscal discipline and sound money over fiat money. Inflation is theft. Income tax is theft. The Fed, IRS, and 16th are inherently un-American.
Can’t believe you’re defending inflation caused by an unconstitutional central communist bank. The levels of inflation the Fed creates is not natural. It’s corrupt. The only reason america hasn’t seen borderline hyperinflation is because of Bretton woods. We basically export our inflation (THEFT) to other countries.
What monetary solutions do you have to offer other than defending the 5th plank of the communist manifesto’s central bank?
I support article 1 section 8 of the US constitution.
Wait are you actually arguing we should have NO inflation? If so I guess we’re done. There’s not convincing someone this stupid of anything. Take a look at what happens to economies without inflation the crumble, and for good reason.
Maybe go actually study a topic before you spout bullshit economics as bad as AOC’s because you FEEEELLLL you’re right. I’ll continue to actually work in trading and understand the topic at hand.
Aside from Bretton-Woods, why do you say removing the gold standard was a good thing? This is a big topic, that deserves its own post. It necessarily includes the petro dollar, which is disintegrating.
This is a really important discussion; if we're able to preserve the sovereignty of the US, we'll need to tackle this. If you do decide to start a post, please DM me so I don't miss it
Overall the gold standard is a terrible measure of economic health. There are so many facets to the economy that tying the measure of economies on one rare earth metal is not only inefficient but misleading. It might sound weird but currencies really are a measure of economic health. This is reflected in their exchange rates. Without them being able to float those rates are artificially created outside of supply and demand.
For example gold doesn’t account for factors like purchasing power parity, gdp, and the handful of factors which determine a currencies strength. I’m not a huge expert on forex since I work on volatility and fixed income derivatives, but I can think of a way that you can represent relative strength between economies with the gold standard. Also I can’t think of the benefits. All economic factors we see now such as Inflation still happen anyway
The representation of relative strength between economies is fairly straightforward: the price of gold.
When the USD was based on gold, an ounce remained the same price ($30-ish) for a long time. I don't know if you lived through the inflation of the 70's, but the quality of everything made in the US declined. Even the quality of recordings in the music industry declined. This inflation hadn't occurred until we got off the gold standard.
I'm not defending a gold standard, neither am I saying that fiat currency is necessarily bad. It has worked at times. But we can't fix this election and restore a Constitutional government without addressing this issue, since it revolves around the creation and control of our currency. I don't know the best solution. Just wondering if you have ideas.
I have seen some people say that North Dakota has this figured out. I don't know the first thing about that.
Removing the gold standard was a good thing. The Bretton-Woods system of currency exchange was not by any means efficient or market driven. Floating currencies are much better and allow for more economic growth.
Economic growth beyond the natural, healthy means of the native population is bad.
Ya and floating currencies allow for economic growth in a much more natural manner. The gold standard actually put a massive artificial range on that. Currencies also follow supply and demand mostly based on economic health. Gold is a terrible measure of that
Growth through deficit spending and stuff like that? What we've seen in the past ~100 years has been anything but natural as far as I can tell
Growth comes from a lot more than deficient spending. Companies absolutely need credit to grow. The creates stability and on extreme circumstances liquidity. Credit liquidity is the basis of any modern economy. When it locks up you have another Great Depression on your hands. But yes let’s go against all the actual data and move back to an outdated and poor standard for our economy because as far as you can tell it’s good...
Allows for the legalization of theft via inflation. The dollar has lost 95% of its value since 1913. The central banks control the money supply, can’t be fully audited, have the IRS as their private gestapo extortion arm, and profit off our government’s debt/wars. Gold standard is the way. It can be expanded slowly as the market grows but it can’t be manipulated easily unlike fiat currencies. The system we have now makes us serfs. We’re little income tax slaves while the central banks send billions of $ overseas and can’t be FULLY audited. Bring back gold. #ThouShallNotSteal
inflation happens either way as it shows even from 1913. Gold standard or not it’s a natural economic phenomenon not theft lol. Without inflation economies die.
What you talk about, “slowly” exapnding the market causes huge issues. The biggest being artificial limit on growth. It’s absolutely more manipulated that floating currencies. That doesn’t even begin to encompass the fact that gold is a terrible measure for economic health, something exchange rates encompass they’d be a proxy for gold market if that’s all it was. Again a mispecification for economic health. Don’t get me wrong metrics like purchasing power parity which account for 93 percent of the variance in exchange rates aren’t better but they are light years ahead of gold. What year do you think it is. 1650?
If you have actual economic reasons not vague statements please comment back if not and you just think monetary theory is some weird conspiracy then we go nothin to talk about with talking past each other
If artificial limits in growth with gold are what you’re worried about, consider that if economy is growing at a rate faster than the gold supply, then what happens to the demand of gold?
Increases.
What happens when demand increases?
It becomes more valuable and profitable.
If business is booming what then happens? More competition. More gold miners. More gold. Then economic expansion can reach an equilibrium again with the gold supply.
Fiscal discipline and sound money over fiat money. Inflation is theft. Income tax is theft. The Fed, IRS, and 16th are inherently un-American.
Can’t believe you’re defending inflation caused by an unconstitutional central communist bank. The levels of inflation the Fed creates is not natural. It’s corrupt. The only reason america hasn’t seen borderline hyperinflation is because of Bretton woods. We basically export our inflation (THEFT) to other countries.
What monetary solutions do you have to offer other than defending the 5th plank of the communist manifesto’s central bank?
I support article 1 section 8 of the US constitution.
Wait are you actually arguing we should have NO inflation? If so I guess we’re done. There’s not convincing someone this stupid of anything. Take a look at what happens to economies without inflation the crumble, and for good reason.
Maybe go actually study a topic before you spout bullshit economics as bad as AOC’s because you FEEEELLLL you’re right. I’ll continue to actually work in trading and understand the topic at hand.
Aside from Bretton-Woods, why do you say removing the gold standard was a good thing? This is a big topic, that deserves its own post. It necessarily includes the petro dollar, which is disintegrating.
This is a really important discussion; if we're able to preserve the sovereignty of the US, we'll need to tackle this. If you do decide to start a post, please DM me so I don't miss it
Overall the gold standard is a terrible measure of economic health. There are so many facets to the economy that tying the measure of economies on one rare earth metal is not only inefficient but misleading. It might sound weird but currencies really are a measure of economic health. This is reflected in their exchange rates. Without them being able to float those rates are artificially created outside of supply and demand.
For example gold doesn’t account for factors like purchasing power parity, gdp, and the handful of factors which determine a currencies strength. I’m not a huge expert on forex since I work on volatility and fixed income derivatives, but I can think of a way that you can represent relative strength between economies with the gold standard. Also I can’t think of the benefits. All economic factors we see now such as Inflation still happen anyway
The representation of relative strength between economies is fairly straightforward: the price of gold.
When the USD was based on gold, an ounce remained the same price ($30-ish) for a long time. I don't know if you lived through the inflation of the 70's, but the quality of everything made in the US declined. Even the quality of recordings in the music industry declined. This inflation hadn't occurred until we got off the gold standard.
I'm not defending a gold standard, neither am I saying that fiat currency is necessarily bad. It has worked at times. But we can't fix this election and restore a Constitutional government without addressing this issue, since it revolves around the creation and control of our currency. I don't know the best solution. Just wondering if you have ideas.
I have seen some people say that North Dakota has this figured out. I don't know the first thing about that.