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cv5

cv5

Well-known member
#261
Nov 20, 2018
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#261
HeIsHere said:
Yes tis true!!
But there have been instances like in 16th century Spain where their economy was flooded with gold and gold did not have the
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Mostly silver but gold too.

How many times in history? Once. In Europe. Thats it. Once in all of history.

And the phenomenon certainly did NOT bankrupt the nation.
Spain went BK because they blew all of this money on endless wars.
 
T

tedincarolina

Member
#262
Jul 25, 2024
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#262
cv5 said:
The Bible NEVER says ignorance is bliss. Never.
What God DOES say is "be not deceived".

Which you most certainly are. By Kamalatov of all people. Ridiculous.
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Hi @cv5

Wow! You're really invested in this, aren't you? It's really important to you that the nation left the gold standard.

Well really, God bless you,
Ted
 
cv5

cv5

Well-known member
#263
Nov 20, 2018
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#263
tedincarolina said:
Hi @cv5

Thanks for a good laugh. I'm still chuckling that there are people in this world who believe that we aren't really citizens of our country if we don't know how currency has been exchanged throughout the history of said nation. It's really never been anything that concerns me. But I don't think I've ever had anyone question my citizenship because I don't know the financial history of our nation.
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So go be a perpetual victim, work for nothing (FED clownbux) and then go BK. No skin off my nose.
 
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tedincarolina

Member
#265
Jul 25, 2024
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#265
Hi again @cv5

I'm just curious as to whether you'd ever put a pencil to your issue and done the math, Do you know what an ounce of gold would be worth today if we were forced to tie it to the money supply?
 
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tedincarolina

Member
#266
Jul 25, 2024
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#266
cv5 said:
So go be a perpetual victim, work for nothing (FED clownbux) and then go BK. No skin off my nose.
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Oh, hi again @cv5

I have rarely worked for nothing. I get paid in dollars just like everyone else in the country. I get to spend those dollars on goods and services to satisfy my needs and most of my wants. I'm not sure why it would be skin off anyone's nose, but be that as it may.
 
HeIsHere

HeIsHere

Well-known member
#267
May 21, 2022
4,866
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#267
cv5 said:
Mostly silver but gold too.

How many times in history? Once. In Europe. Thats it. Once in all of history.

And the phenomenon certainly did NOT bankrupt the nation.
Spain went BK because they blew all of this money on endless wars.
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Certainly we cannot go back to the gold standard?
 
ZNP

ZNP

Well-known member
#268
Sep 14, 2020
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#268
Eli1 said:
I actually do factor-in that inflation happens with gold-backed currency but i'm not sure you seem to acknowledge how fast the rate of inflation happens with FIAT currency.
For example my grandfather had land before world war 1 which cost 10 dollars.
By 1985 before the end of the cold war, this land cost about 75 dollars. So we have about a 60% inflation over the course of 80 years.

But, an apartment bought in 1995 which cost 10,000 dollars is now 150,000 dollars. So, this is a 140% increase in inflation during the course of 30 years.
Like i said, i am not a financial analyst, but i am able to see when things trend fast or they trend slow.
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Instead of using dollars use gold. In 1970 5 ounces of gold would buy an acre of farm land in the US (average price was $196). In 2023 it is 2 ounces of gold. Because of industrialization there was an anti inflationary pressure going on at exactly the same time we are seeing tremendous inflation in the US. Food and houses should have been getting cheaper and yet they have been increasing in cost far faster than income and that is because of thieves and corruption.
 
cv5

cv5

Well-known member
#270
Nov 20, 2018
19,713
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#270
tedincarolina said:
You're really invested in this, aren't you?
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I could care less about money on the one hand.
But I certainly am not going to live my life a pathetic perpetual victim of every grifter, bankster and conman out there.

1722447545124.png
 
cv5

cv5

Well-known member
#272
Nov 20, 2018
19,713
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#272
HeIsHere said:
Certainly we cannot go back to the gold standard?
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Only when the desire for endless credit at taxpayer expense no longer a thing.

All this international insolvency is of course a sign of the end-times/end of the age.
 
cv5

cv5

Well-known member
#273
Nov 20, 2018
19,713
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#273
ZNP said:
Instead of using dollars use gold. In 1970 5 ounces of gold would buy an acre of farm land in the US (average price was $196). In 2023 it is 2 ounces of gold. Because of industrialization there was an anti inflationary pressure going on at exactly the same time we are seeing tremendous inflation in the US. Food and houses should have been getting cheaper and yet they have been increasing in cost far faster than income and that is because of thieves and corruption.
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They could revalue gold to 100K an ounce and wipe out the entire national debt with a simple accounting entry.
The mechanisms are there and perfectly legal.

But why do so when the US can export massive inflation and get lots of stuff on the cheap?
 
HeIsHere

HeIsHere

Well-known member
#274
May 21, 2022
4,866
1,861
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#274
cv5 said:
Only when the desire for endless credit at taxpayer expense no longer a thing.

All this international insolvency is of course a sign of the end-times/end of the age.
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When the economy crashes, looking like sooner rather than later.

Debt.JPG
 
cv5

cv5

Well-known member
#275
Nov 20, 2018
19,713
7,522
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#275
cv5 said:
They could revalue gold to 100K an ounce and wipe out the entire national debt with a simple accounting entry.
The mechanisms are there and perfectly legal.

But why do so when the US can export massive inflation and get lots of stuff on the cheap?
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$25,600,000,000,000

Thats at apx 100K.

Might as well make it 500K and have a huge current account balance.
 
ZNP

ZNP

Well-known member
#276
Sep 14, 2020
33,947
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#276
HeIsHere said:
How do plan to come up with more gold than has ever been mined for just the savings accounts in US banks?
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You can use commodities. So the dollar can be pegged to an ounce of gold or a gallon of oil or silver or many other commodities. For example you could tie it to a bushel of wheat or a pound of salt. As a result I think you need something like 3-5% of the commodity in reserve. So if you had $1 trillion in currency out, you would need $10 billion in gold, $10 billion in silver, $10 billion in oil and $10 billion in salt.
 
ZNP

ZNP

Well-known member
#278
Sep 14, 2020
33,947
6,000
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#278
cv5 said:
They could revalue gold to 100K an ounce and wipe out the entire national debt with a simple accounting entry.
The mechanisms are there and perfectly legal.

But why do so when the US can export massive inflation and get lots of stuff on the cheap?
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That would cause a run on gold, it has to be fairly valued based on the labor involved. Fiat currency is based on GDP, that part of the equation makes sense, the problem is that they can simply borrow money to create it and when you have corrupt politicians promising to pay for everything you run up huge debts just so they can become more powerful.

However, to be fair gold and silver are said to be greatly undervalued at the moment.
 
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tedincarolina

Member
#279
Jul 25, 2024
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#279
cv5 said:
I could care less about money on the one hand.
But I certainly am not going to live my life a pathetic perpetual victim of every grifter, bankster and conman out there.

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Hi again @cv5

Oh, I'd be willing to bet that you will. Especially if that's what you think is going on out there with money.

Friend, money is just a tool by which a group of people can exchange goods in an agreed upon amount, for the services of others. That's all it is. Whether it is tied to some benchmark of some other commodity doesn't change how money works. It does limit the amount of money that can be put into the monetary system. You see, I asked if you had done that little math problem for a purpose, but I'm guessing you're not going to try it.
 
T

tedincarolina

Member
#280
Jul 25, 2024
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#280
ZNP said:
Why? If each US taxpayer would just pay an extra $267,000 this coming year we would be fine.
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No, that would just pay off our debt. We'd still have all of the same expenses to continue paying. We just wouldn't have the great interest expense that we pay now. And I am all for working to pay down the U.S. debt. Hopefully someone will take up that challenge, but so far no one has been able to work it out that we might be able to regularly run budget supluses and to commit those surpluses to calling in bonds.

Let me repeat nobody. Not the current administration or any of the past ones. I think that the last presidential administration to run a few surplus years was back in the Clinton administration.
 
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