Longcol Posted April 17, 2015 Share Posted April 17, 2015 The argument for a return to the gold standard is common sense A debt based currency is unsustainable A gold based currency is sustainable FIAT currency is a currency based on trust as you already explained. Now you're saying it's something else. How is FIAT currency unsustainable - apart from your say so? How would "developing countries" eg most of Africa fare with a return to gold standard - wouldn't it permanently condemn them to poverty? Link to comment Share on other sites More sharing options...
Solomon1 Posted April 17, 2015 Author Share Posted April 17, 2015 FIAT currency is a currency based on trust as you already explained Based primarily on DEBT and uncoupled from value How is FIAT currency unsustainable - apart from your say so? The total globe is trading at nearly 300% debt to GDP Link to comment Share on other sites More sharing options...
Longcol Posted April 17, 2015 Share Posted April 17, 2015 Based primarily on DEBT and uncoupled from value The total globe is trading at nearly 300% debt to GDP And how does that compare historically - the UK had a debts of 238% of GDP at the end of WWII - no collapse. BTW what is this "value" you are on about - gold is only as valuable as we want it to be (much to the chagrin of people who own gold). Tell me Sol - how much gold you got? Link to comment Share on other sites More sharing options...
Solomon1 Posted April 17, 2015 Author Share Posted April 17, 2015 And how does that compare historically - the UK had a debts of 238% of GDP at the end of WWII - no collapse WWII was orchestrated for precisely that reason, to end the depression Why do you think the US military industrial complex is so keen to start a fight with Syria/Iran now? BTW what is this "value" you are on about - gold is only as valuable as we want it to be It is the only commodity that has consistently held value, since the dawn of time Tell me Sol - how much gold you got? I have a little Most of my investment is in Silver Link to comment Share on other sites More sharing options...
Longcol Posted April 17, 2015 Share Posted April 17, 2015 WWII was orchestrated for precisely that reason, to end the depression Lol - a genius at re-writing history as well as an economic genius Link to comment Share on other sites More sharing options...
Solomon1 Posted April 17, 2015 Author Share Posted April 17, 2015 And how does that compare historically - the UK had a debts of 238% of GDP at the end of WWII - no collapse The gold standard ended in 1971 That is the crucial difference between the last depression and this one ---------- Post added 17-04-2015 at 21:22 ---------- Lol - a genius at re-writing history as well as an economic genius It's just the truth dude ---------- Post added 17-04-2015 at 21:25 ---------- If you haven't watched I really recommend that you do It's the best Kaiser report yet Link to comment Share on other sites More sharing options...
medusa Posted April 17, 2015 Share Posted April 17, 2015 How would "developing countries" eg most of Africa fare with a return to gold standard - wouldn't it permanently condemn them to poverty? Wouldn't that depend on whether they have big gold reserves under their land? A country with large gold reserves would have every reason to give up all forms of agriculture and manufacture and instead just spend their time digging up and processing more gold. In a world with an expanding population and a set amount of gold (which is not evenly distributed throughout the earth's crust) surely this is as unfair and as unsustainable as a FIAT currency? Link to comment Share on other sites More sharing options...
Longcol Posted April 17, 2015 Share Posted April 17, 2015 The gold standard ended in 1971 That is the crucial difference between the last depression and this one ---------- Post added 17-04-2015 at 21:22 ---------- It's just the truth dude ---------- Post added 17-04-2015 at 21:25 ---------- If you haven't watched I really recommend that you do It's the best Kaiser report yet Don't you mean Keiser? I mean - it's inability to even get names of your gurus right that makes me think you ain't that clued up on economics. Link to comment Share on other sites More sharing options...
Solomon1 Posted April 17, 2015 Author Share Posted April 17, 2015 Don't you mean Keiser? I mean - it's inability to even get names of your gurus right that makes me think you ain't that clued up on economics Yes I do mean Keiser, thank you for pointing that out Don't take our information from websites of dubious provender? And I'm not the only one to make spelling mistakes dude Link to comment Share on other sites More sharing options...
Longcol Posted April 17, 2015 Share Posted April 17, 2015 And I'm not the only one to make spelling mistakes dude Wrong again Sol - http://www.thefreedictionary.com/provender Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now