Ron Paul asks Bernanke "Is gold money'? - Page 3 - GoFuckYourself.com

Ethersync · 07-17-2011, 10:21 AM

Quote:

Originally Posted by u-Bob

No one needs to go back to the gold standard. What we need is the abolishment of legal tender laws (and similar regulations that force people to accept 1 specific currency) and to stop bailing out banks that are in a financial mess because of their own corrupt behavior.

Exactly. In fact Ron Paul proposes legalizing competing currencies and not an immediate return to the gold standard. The idea being that people will naturally move to a more stable currency.

dyna mo · 07-17-2011, 10:26 AM

Quote:

Originally Posted by u-Bob

No one needs to go back to the gold standard. What we need is the abolishment of legal tender laws (and similar regulations that force people to accept 1 specific currency) and to stop bailing out banks that are in a financial mess because of their own corrupt behavior.

Quote:

Originally Posted by Ethersync

Exactly. In fact Ron Paul proposes legalizing competing currencies and not an immediate return to the gold standard. The idea being that people will naturally move to a more stable currency.

you ronnie paul groupies need an update-

Ron Paul discusses the benefits of returning to a gold standard
http://www.forbes.com/2010/01/13/gol...-ron-paul.html

dyna mo · 07-17-2011, 10:28 AM

the ultimate proofs- a youtube video
ronnie paul yapping about how to return to a gold standard::::::;

The Porn Nerd · 07-17-2011, 10:29 AM

Anyone remember Ross Perot?

What is it with Texas?

u-Bob · 07-17-2011, 10:30 AM

Quote:

Originally Posted by dyna mo

you ronnie paul groupies need an update-

I was expressing my own opinion.

dyna mo · 07-17-2011, 10:31 AM

so let me get this straight, ronnie paul wants a government issued/declared gold standard while complaining about *big* government and some of y'all don't get the hypocrisy of this 34 year career politician?

i see.

u-Bob · 07-17-2011, 10:34 AM

Gold backed currencies would (amongst other currencies) evolve naturally under free market conditions.

MrMaxwell · 07-17-2011, 10:34 AM

Quote:

Originally Posted by GatorB

If by not long ago you mean 130 years ago them you're right. But that gold was minted into coinage which was legal tender. Do you know how bad inflation would be if we still used gold coins? A $1 gold coin would have several hundreds $ worth of gold in it. People would horde $1 coins then melt them down. How would that be good?

The dollar price of gold doesn't affect the value of gold. Gold is not worth less now, the dollar is. Inflation is all but nill until you introduce a fiat currency that can be printed out of thin air.

Ethersync · 07-17-2011, 10:36 AM

Quote:

Originally Posted by dyna mo

you ronnie paul groupies need an update-

dyna mo · 07-17-2011, 10:37 AM

Quote:

Originally Posted by u-Bob

I was expressing my own opinion.

got it, thx for the clarification. i appreciate your being able to discuss this without resorting to name calling and such, that's refreshing!

dyna mo · 07-17-2011, 10:54 AM

Quote:

Originally Posted by Ethersync

i don't disagree with anything he says in this vid, but, as i alluded to earlier, i do not claim to understand economics at a high enough level to agree or disagree. in fact, from what i can tell, even people with an extremely strong understanding of economics disagree on such things.

nevertheless, look, if ron paul has ever come close to prompting change it was with his legislation passed to audit the fed. but it's my understanding the fed was already under fed auditing laws and even since ron paul's law, nothing has come out of his audits either.

and you can count me as one who would very much like to learn more re: the fed. but i'll also add that i think a central bank is a good thing and i do not disagree with having one as i understand it all. if it was factual revealed that the fed is a detriment then i would have no issue abolishing it.

but a lot of that gets lost when it comes to ron paul because of his outlandish commenting on the gold standard. i'd appreciate him much more if he had done his government service by holding an office or 3 or more for a term and then continuing his crusade against the fed from a non-public office.

TheSquealer · 07-17-2011, 03:52 PM

Quote:

Originally Posted by Ethersync

It would obviously require a revaluation of gold. It's not that complicated.

Really? So, the solution is to curing all issues with paper money is to use the gold standard... THEN put the government in charge of setting gold prices... which defeats the purpose entirely as well as completely ignores the fact that it will be valued in accordance to supply and demand in the rest of the world as a commodity?

Are you 12 years old or what?

You, like anyone else arguing for Ron Paul can't seem to grasp that there is no such thing as a "stable currency". Stable is simply a reflection of confidence. Use the gold standard.. then put a bunch of idiots in charge of setting gold prices... then watch prices go bonkers all over the world (unintended consequences) and you have a very unstable currency with the same bunch of inept idiots in charge of it.

wig · 07-17-2011, 04:17 PM

Quote:

Originally Posted by TheSquealer

i've always wondered where the 15 trillion dollars in gold will come from.

It would make gold rather expensive, which is what the goldbugs care about.

Gold, $50,000 an ounce!

.

TheSquealer · 07-17-2011, 04:19 PM

Quote:

Originally Posted by wig

It would make gold rather expensive, which is what the goldbugs care about.

Gold, $50,000 an ounce!

.

I KNOW that would make you happy!

;)

wig · 07-17-2011, 04:23 PM

Quote:

Originally Posted by u-Bob

Does your $1000 still allow you to buy the same amount of products and services as it did 5, 10 or 50 years ago?

Are you talking about $1000 of gold as in the original meaning of the word whereby 1 USD represents a fixed amount of gold? Probably not, since the USD is no longer backed by gold. The fluctuation in the price of gold you are describing is actually a result of the instability of the USD, the Euro etc.
The value of gold has essentially not changed over the past (let's say 10) years, yet its price expressed in USD has. This should tell you something about the USD.

Not the whole story and misleading. The price of Gold has risen in all major currencies that I have looked at.

This tells you that it is NOT simply about the US Dollar. It reflects uncertainty across the board.

.

wig · 07-17-2011, 04:26 PM

Quote:

Originally Posted by u-Bob

This is what we are seeing on the gold markets. While small fluctuations can be attributed to the daily fluctuations in supply and demand, the huge rise in price (expressed in USD) is the direct result of a decrease in value of the USD as a result of the increase in supply of USDs.

You'll need to explain why it is occurring in all major currencies for this statement to have any real force.

.

wig · 07-17-2011, 04:28 PM

Quote:

Originally Posted by MrMaxwell

The dollar price of gold doesn't affect the value of gold. Gold is not worth less now, the dollar is. Inflation is all but nill until you introduce a fiat currency that can be printed out of thin air.

Demonstrably false. Sorry.

.

wig · 07-17-2011, 04:33 PM

Quote:

Originally Posted by TheSquealer

I KNOW that would make you happy!

;)

Considering I got out of 90% of my gold / silver positions over a year ago and see them vulnerable to a price decline, I'd say not.

Not to mention, the reason I invested in it has nothing to do with gold standard support or any other anti-FED wackiness all of which I think are stupid ideas.

But maybe I misunderstand your statement??

.

TheSquealer · 07-17-2011, 04:34 PM

Quote:

Originally Posted by wig

Considering I got out of 90% of my gold / silver positions over a year ago and see them vulnerable to a price decline, I'd say not.

Not to mention, the reason I invested in it has nothing to do with gold standard support or any other anti-FED wackiness all of which I think are stupid ideas.

But maybe I misunderstand your statement??

.

Just remembering back to the oprano days when you were lecturing us all on buying gold.

wig · 07-17-2011, 04:54 PM

Quote:

Originally Posted by TheSquealer

Just remembering back to the oprano days when you were lecturing us all on buying gold.

Ah, someone from back then that remembered this. Were you TheSquealer back then?

Metals have had a good run, but now I hope it drops hard over the next 6-12 months or more. hehe

Still think there is more to be made there over the next 3-4 years.

.

07-17-2011, 10:29 AM	#104
The Porn Nerd Living The Dream Industry Role: Join Date: Jun 2009 Location: Inside a Monitor Posts: 19,568	Anyone remember Ross Perot? What is it with Texas? __________________ My Affiliate Programs: Porn Nerd Cash \| Porn Showcase \| Aggressive Gold Over 90 paysites to promote! Now on Teams: peabodymedia

07-17-2011, 10:28 AM	#103
dyna mo The People's Post Industry Role: Join Date: Dec 2008 Location: invisible 7-11 Posts: 64,858	the ultimate proofs- a youtube video ronnie paul yapping about how to return to a gold standard::::::;

07-17-2011, 10:31 AM	#106
dyna mo The People's Post Industry Role: Join Date: Dec 2008 Location: invisible 7-11 Posts: 64,858	so let me get this straight, ronnie paul wants a government issued/declared gold standard while complaining about big government and some of y'all don't get the hypocrisy of this 34 year career politician? i see.

07-17-2011, 10:34 AM	#107
u-Bob there's no $$$ in porn Industry Role: Join Date: Jul 2005 Location: icq: 195./568.-230 (btw: not getting offline msgs) Posts: 33,063	Gold backed currencies would (amongst other currencies) evolve naturally under free market conditions.