What happened to all of the doom and gloom economic threads?

[4est_4est_Gump]

There is no commodity that has enough value to cover the size of the US economy, not to mention allowing the US market to be the dominate one in the world - which is exactly the same situation as with the dollar. The US economy is much larger then the actual amount of physical currency in existence.

In a global economy, money is represented by 1s and 0s in computer networks. That's the way it is. We can never go back to 1850 because the world is too big, and too small at the same time.

Money is nothing but a concept and only needs confidence to back it. Gold, or any other physical representation of money would have no benefit and would only slow down the system. Money, has gone from a very simple concept when the Jews started using it, to a very complex concept in our modern global economy. I think the Fed has done a good job balancing a whole bunch of competing interests.

There we go...

First we're worried about too much gold, and now there's not possibly enough gold in the world.

Which is it?

I'll find out tomorrow...

Have a Nice Day!

 

[JohnnySavage]

There we go...

First we're worried about too much gold, and now there's not possibly enough gold in the world.

Which is it?

I'll find out tomorrow...

Have a Nice Day!

There is not enough gold to cover a $14 trillion dollar a year economy.

We don't own all the gold in any event.

If we don't own it all, we don't control the value of our currency.


...I don't see your confusion. If we did have a gold based currency, it would be a fractional reserve system just like we have now (because we don't have enough gold to cover it 100%). As long as other countries held gold, they could undermine our currency. Capice?

 

[unregistered]

 

[JohnnySavage]

Guess you didn't read Rothbard's analysis eh? One can only bring a horse to water. I respect your opinion Johnny, but I think it's wrong. The present monetary policy has brought the world to the abyss. The Fed has failed to accomplish it's initial mission, which was to end the boom and bust cycle. In fact it's made them more ubiquitous.

Government's insatiable desire to inflate the currency in order to create political outcomes has mortgaged the economic future, by destroying the value of the Dollar itself, and smothering the economic prospects of generations of Americans yet unborn with crushing debt. I think it's both immoral and unsustainable.

Discipline has to be imposed one way or the other. Again, it doesn't matter as much how much gold is available as it is to establish a ratio by statute and tie the Dollar to it. Any shortage in gold supplies would simply create the demand for more production.

No, no I didn't. Mr. Rothbard isn't here to defend his position, and really, his opinion is of no more value than yours or mine. So, we don't need him for our discussion.

 

[unregistered]

 

[unregistered]

 

[koalabear]

You are talking about a closed economy. We live in a global economy where everyone competes for goods and services in a multitude of currencies. If the United States is paying Saudi Arabia an ounce of gold for 10 barrels of oil, and Russia floods the market with gold - the gold we are paying Saudi Arabia is less valuable and they would demand more of it.

Nope, the dollar is the standard currency for global trade.

 

[JohnnySavage]

Nope, the dollar is the standard currency for global trade.

First I said "global economy" not global trade. Second, even if I had said global trade, the dollar isn't necessarily the standard. China is investing a lot of money in Africa and South America. None of that investment is being done in dollars.

Your idea of American Exceptionalism is quaint.

 

[koalabear]

First I said "global economy" not global trade. Second, even if I had said global trade, the dollar isn't necessarily the standard. China is investing a lot of money in Africa and South America. None of that investment is being done in dollars.

Your idea of American Exceptionalism is quaint.

Try having a global economy without global trade.

 

[koalabear]

Stocks fall on jobs report
The economy adds fewer jobs than expected in October as unemployment ticks down to 9%. Shares of LinkedIn plunge after the company posts a loss. Investors await Berkshire Hathaway earnings. Groupon begins trading. Gold prices fall.

 

[JohnnySavage]

Stocks fall on jobs report
The economy adds fewer jobs than expected in October as unemployment ticks down to 9%. Shares of LinkedIn plunge after the company posts a loss. Investors await Berkshire Hathaway earnings. Groupon begins trading. Gold prices fall.

That LinkedIn site is even worse than Classmates with the emailing. I don't think I've even ever been there and I get two or three emails from them a day.

 

[busybody..]

You are talking about a closed economy. We live in a global economy where everyone competes for goods and services in a multitude of currencies. If the United States is paying Saudi Arabia an ounce of gold for 10 barrels of oil, and Russia floods the market with gold - the gold we are paying Saudi Arabia is less valuable and they would demand more of it.

DUMMY

or we could say FUCK YOU to the A RABS

and develop OIL SHALE.....which we have enough of to FUCK THE WORLD PRODUCERS


But YOUR BUDDY, NIGGER HO!

doesnt allow it

cause maybe a FUCKING DUCK will get dirty feathers

 

[JohnnySavage]

DUMMY

or we could say FUCK YOU to the A RABS

and develop OIL SHALE.....which we have enough of to FUCK THE WORLD PRODUCERS


But YOUR BUDDY, NIGGER HO!

doesnt allow it

cause maybe a FUCKING DUCK will get dirty feathers

So... you say to nationalize our (and Canada's) shale deposits and prevent the sale of the oil on the global market?

Interventionist!!!!!!

Socialist!!!!!

 

[busybody..]

So... you say to nationalize our (and Canada's) shale deposits and prevent the sale of the oil on the global market?

Interventionist!!!!!!

Socialist!!!!!

I said that?

SHITTER SAVAGE IS A DUMMY

I sad DEVELOP

 

[JohnnySavage]

I said that?

SHITTER SAVAGE IS A DUMMY

I sad DEVELOP

But it would still be sold on the global market, which the Middle East is a part of. I say, suck Saudi Arabia dry. Then them ride camels while we have our own gas.

 

[koalabear]

Updated: 11/04/2011 10:19 ET
DOW 11,915.55 -128.92
NASDAQ 2,669.05 -28.92
S&P 1,245.85 -15.30

 

[koalabear]

Oblamer is giving a speech...........

Updated: 11/04/2011 10:39 ET
DOW 11,853.37 -191.10
NASDAQ 2,655.40 -42.57
S&P 1,239.52 -21.63

 

[busybody..]

Updated: 11/04/2011 10:39 ET
DOW 11,853.37 -191.10
NASDAQ 2,655.40 -42.57
S&P 1,239.52 -21.63

You mean the TP is making juan

and

NIGGER HO! is standing around!

 

[4est_4est_Gump]

But it would still be sold on the global market, which the Middle East is a part of. I say, suck Saudi Arabia dry. Then them ride camels while we have our own gas.

That would be nice if we still had the Capital to export...

 

[Beco]

80,000 jobs baby, we are rolling along....

 

[4est_4est_Gump]

Good news Koala!




"Why, what's that A_J?"

Monday


we




could





go





all






the






way





to




12,000!​

 

[4est_4est_Gump]

80,000 jobs baby, we are rolling along....

Why Wyatt, Ahm positively rolling...

 

[Beco]

Why Wyatt, Ahm positively rolling...

Chiefs are back to playing good football, dude!

 

[4est_4est_Gump]

Chiefs are back to playing good football, dude!

Yes they are, but they have a ba-a-a-a-ad history with the Dolphins ending their roll...





:fingers crossed:

 

[Ulaven_Demorte]

80,000 jobs baby, we are rolling along....

Actually, private companies added 104,000 jobs in October, while the government cut 24,000, mostly at the state level.

Thank you to the Jen-morons advocating cutting public sector jobs.