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Something about the last few years has really brought out the kooks

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  • Something about the last few years has really brought out the kooks

    First, the governor of the Bank of England proposes eliminating fractional reserve banking

    Then comes the possibility that everybody's favorite monetary wackjob will be chairing the House committee on domestic monetary policy

    And most recently, the president of the World Bank advocates a gold standard



    We are so ****ed...
    12-17-10 Mohamed Bouazizi NEVER FORGET
    Stadtluft Macht Frei
    Killing it is the new killing it
    Ultima Ratio Regum

  • #2
    We've been ****ed since the 50's.
    Life is not measured by the number of breaths you take, but by the moments that take your breath away.
    "Hating America is something best left to Mobius. He is an expert Yank hater.
    He also hates Texans and Australians, he does diversify." ~ Braindead

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    • #3
      Just out of curiosity KH, are you a fan of Keynesian economics?

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      • #4
        I remember hearing some absurd rant about returning the to gold standard. I think it was on the Colbert Report.
        “As a lifelong member of the Columbia Business School community, I adhere to the principles of truth, integrity, and respect. I will not lie, cheat, steal, or tolerate those who do.”
        "Capitalism ho!"

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        • #5
          They are right! gold standard
          I need a foot massage

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          • #6
            “The scope of the changes since 1971 certainly matches those between 1945 and 1971 that prompted the shift from Bretton Woods I to II,” Mr Zoellick writes. “Although textbooks may view gold as the old money, markets are using gold as an alternative monetary asset today.”
            Blah? What does this mean? Who in the commodity markets is using gold as a monetary asset? I thought gold is only traded for speculative reasons or for an inflation hedge.


            Oh and I googled this guy:
            He was previously a managing director of Goldman Sachs
            KH

            He has a law and public policy background so no economics education, by the way.
            "Flutie was better than Kelly, Elway, Esiason and Cunningham." - Ben Kenobi
            "I have nothing against Wilson, but he's nowhere near the same calibre of QB as Flutie. Flutie threw for 5k+ yards in the CFL." -Ben Kenobi

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            • #7
              Do you really think I'm unaware when someone in such a high profile position is an alum?

              It doesn't make him any less of a kook
              12-17-10 Mohamed Bouazizi NEVER FORGET
              Stadtluft Macht Frei
              Killing it is the new killing it
              Ultima Ratio Regum

              Comment


              • #8
                Why do you call it 'alum' like Goldman Sachs is a university. Why don't you just say former employee?
                "Flutie was better than Kelly, Elway, Esiason and Cunningham." - Ben Kenobi
                "I have nothing against Wilson, but he's nowhere near the same calibre of QB as Flutie. Flutie threw for 5k+ yards in the CFL." -Ben Kenobi

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                • #9
                  Because it's a tradition
                  12-17-10 Mohamed Bouazizi NEVER FORGET
                  Stadtluft Macht Frei
                  Killing it is the new killing it
                  Ultima Ratio Regum

                  Comment


                  • #10
                    It is a university. It hands out Master of the Universe degrees.

                    -Arrian
                    grog want tank...Grog Want Tank... GROG WANT TANK!

                    The trick isn't to break some eggs to make an omelette, it's convincing the eggs to break themselves in order to aspire to omelettehood.

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                    • #11
                      Nicely said.

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                      • #12
                        Hawkwind

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                        • #13
                          Originally posted by Arrian View Post
                          It is a university. It hands out Master of the Universe degrees.

                          -Arrian
                          M.Bs
                          12-17-10 Mohamed Bouazizi NEVER FORGET
                          Stadtluft Macht Frei
                          Killing it is the new killing it
                          Ultima Ratio Regum

                          Comment


                          • #14
                            Also in This Week In Batshit Nuttery:


                            This guy is now in the running to be chairman of the House Energy and Commerce Committee:




                            Never again will I curse the ground because of man, even though all inclinations of his heart are evil from childhood and never again will I destroy all living creatures as I have done.

                            As long as the earth endures, seed time and harvest, cold and heat, summer and winter, day and night, will never cease.


                            I believe that is the infallible word of God, and that's the way it is going to be for His creation... The earth will end only when God declares its time to be over. Man will not destroy this earth. This earth will not be destroyed by a flood.
                            Last edited by Guynemer; November 10, 2010, 00:04. Reason: nesting quotes
                            "My nation is the world, and my religion is to do good." --Thomas Paine
                            "The subject of onanism is inexhaustable." --Sigmund Freud

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                            • #15
                              A gold standard would do far more damage than we're going to do with greenhouse gas emissions
                              12-17-10 Mohamed Bouazizi NEVER FORGET
                              Stadtluft Macht Frei
                              Killing it is the new killing it
                              Ultima Ratio Regum

                              Comment

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