Who else resents USAians for causing this finanical crisis?

[KrazyHorse]

"Let's trick the gentiles with our dirty fiat currency"?

[Agathon]

Originally posted by KrazyHorse
"Let's trick the gentiles with our dirty fiat currency"?

I thought it was "Let us write crap situation comedies".

[TheStinger]

Originally posted by Heraclitus


Come on they are your poodle in every single way, and their economy is very closely tied to your own, how was my comment stupid?

Why is then that the eros decided to in essence adopt a UK rescue plan and not the US one

[KrazyHorse]

The two are identical in effect.

[Kidlicious]

Originally posted by TheStinger
Why is then that the eros decided to in essence adopt a UK rescue plan and not the US one

Because the US plan was created by morons.

[Arrian]

People had HalfLotus pegged as a conspiracy theorist from the start of this "see the Austrians" stuff and here ya go - confirmation. He's a 9/11 "Truther."

Note that, to a Truther, it is more plausible to believe that there was a conspiracy (probably involving dirty Joos) than it is to believe that the buildings were taken down by the two large airliners we all watched slam into the buildings and explode.

Compared to that, believing that the cause of all our financial ills is "fiat currency" is a minor matter.

-Arrian

[KrazyHorse]

180% of people who believe in the gold standard for currency are conspiracy theorists.

[Agathon]

Originally posted by Arrian


People had HalfLotus pegged as a conspiracy theorist from the start of this "see the Austrians" stuff and here ya go - confirmation. He's a 9/11 "Truther."

Do I get a cookie?

http://www.apolyton.net/forums/showthread.php?s=&threadid=181505

[HalfLotus]

A jovial herd here in the OT forum.

[Kidlicious]

Originally posted by HalfLotus
A jovial herd here in the OT forum.

That's probably because you aren't making a very good argument.

[Impaler[WrG]]

My understanding is that a Gold standard is simply not possible anymore, their isn't enough gold on earth to back-up all the money supply we need with any kind of acceptable leverage ratio. Further more the US has a tiny gold reserve and no domestic source of gold, these were the principle reasons we went off it and these conditions have only gotten stronger.

If we wanted to have a commodity backed money it would have to be a basket of commodities that are produced in the US, like corn, soybeans, copper and pork bellies. And we would need to update the basket mix continuously to reflect the real economic production of the country.

I'm not convinced that Fiat money or Commodity backed money is evil, I believe its entirely possible that both systems could lead to good or ill with other monetary policies being the deciding factor.

[HalfLotus]

Originally posted by Kidicious


That's probably because you aren't making a very good argument.

Herd mentality has more to do with intellectual insecurity than a lack of reasonable explanation.

[Kidlicious]

Originally posted by Impaler[WrG]
If we wanted to have a commodity backed money it would have to be a basket of commodities that are produced in the US, like corn, soybeans, copper and pork bellies. And we would need to update the basket mix continuously to reflect the real economic production of the country.

There's still the problem that when the economy weakens you would have to raise interest rates. It's just backassward.

[Kidlicious]

Originally posted by HalfLotus


Herd mentality has more to do with intellectual insecurity than a lack of reasonable explanation.

So now we're all joos?!

[KrazyHorse]

Originally posted by Kidicious


There's still the problem that when the economy weakens you would have to raise interest rates. It's just backassward.

The real problem is that these commodities regularly undergo enormous price swings.