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I am curious. Can anyone defend the US going off the gold standard in 1913?
1 dollar today is equal to 4 cents in 1913.
In 1913 1 ounce of gold was 1 dollar. In fact you could echange your dollar at a bank for an ounce of gold. Now 1 ounce of gold in 780+ dollars.
Now our money is backed by an imaginary IOU by the federal reserve. When the fed lowers interests rates did you know that it simply means they are printing more money? Germany printed money from 1921-1931. It took a wheelbarrow of marks to buy bread in 1931.
The value of our money is made by a few people in a marble palace guessing what is best.
With the gold standard the only way you can print more money is to *gasp* find more gold! Takes all the guesswork and power from the federal government.
Food for thought.
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Goal for 2008: Half as many penalties.
The one issue I see, which is what happened in the past when we the dollar was backed by gold, is that foreign nations would borrow dollars from us, pay us back in their currency, and then exchange their dollars for gold, thus reducing our reserves.
It seems like it would be simple enough to say that you can borrow dollars but the debt must be paid back in dollars or gold and nothing else, but implementing that may be harder said than done.
Regardless, we as a nation need to get back on the Gold Standard because the Federal Reserve and its penchant for printing money is killing us.
By the way, do they make a new design for our currency each year now? I mean, I get that there's new technology to prevent counterfeiters (other than the Federal Reserve) but at this point, if someone tried to pay with monopoly money, the cashier would have to think for a second if it's the Fed's new "design".
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People of Mars, you say we are brutes and savages. But let me tell you one thing: if I could get loose from this cage you have me in, I would tear you guys a new Martian ***hole. You say we are violent and barbaric, but has any one of you come up to my cage and extended his hand? Because, if he did, I would jerk it off and eat it right in front of him. “Mmm, that’s good Martian,” I would say. - Jack Handey
The measure of one's individual liberty is proportionate to their acceptance of personal responsibility. Without the latter the former will cease to exist.
The one issue I see, which is what happened in the past when we the dollar was backed by gold, is that foreign nations would borrow dollars from us, pay us back in their currency, and then exchange their dollars for gold, thus reducing our reserves.
It seems like it would be simple enough to say that you can borrow dollars but the debt must be paid back in dollars or gold and nothing else, but implementing that may be harder said than done.
Regardless, we as a nation need to get back on the Gold Standard because the Federal Reserve and its penchant for printing money is killing us.
By the way, do they make a new design for our currency each year now? I mean, I get that there's new technology to prevent counterfeiters (other than the Federal Reserve) but at this point, if someone tried to pay with monopoly money, the cashier would have to think for a second if it's the Fed's new "design".
Ain't that the truth.
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