Gold Standard
- Thread starter hellblazer
- Start date
People get so uppity when Obama/Bush invade another country to secure their oil supply. Just watch what happens when NATO needs their gold reserves. The more valuable their reserves, the more WAR they will experience.
Then there will be one more reason to invade, extra-points for the military industrial complex.
Then there will be one more reason to invade, extra-points for the military industrial complex.
Bitcoins aren't money. They are a niche digital good.
Money has very specific characteristics that allows it to be universal. These include scarcity, divisibility, malleability, durability etc.
It's normally between 5oz and 50oz, normally 5% off of spot or so. Just sold 18oz for $40/oz.
I've built a business model around silver/gold below spot, the ebook will be out in 7 days
I've built a business model around silver/gold below spot, the ebook will be out in 7 days
They are too money. They not only are used to pay for goods and services all over the world, but they DO fit all your criteria...
First of all, Bitcoins would only be a "niche digital good" if the free market didn't decide to use them as money. We have seen many, many examples of them doing just that. In fact there are ways for you to spend bitcoins to buy Anything at all right now through a 3rd party service, and the number of merchants officially accepting bitcoins on their website is too long of a list for any layman to count.
Of any currency on the entire planet, I'd have to say Bitcoin is the best for this specific characteristic. They are hard-coded to allow only 21 million bitcoins to be created, ever, with the last one to be mined sometime around 2140.
What, is the 8th number to the right of the decimal point not enough for you? That's 2.1 quadrillion total units!
What could be more malleable than an all-digital currency? You could trade it with beings in a fucking other dimension!!!
This is a joke too, right? All-digital currencies simply cannot die. The hard disk they are stored on could die of course, but the data could be backed up.
Let's hear 'em!
You of all people should be Bitcoin's biggest champion, G. These things were made Specifically for realizing LIBERTY.
Portable PCs (like smartphones) make that kind of a sad argument.
A much better argument would be the PC hacking one. Yes, when they are stolen, you don't get them back.
Sounds like a limitation that applies to Gold and other currencies as well though.
If you want to back money in something, pick any asset that's owned by the gov't and make it so that the quantity can only decrease or increase based on whatever asset you choose (silver, real estate, land, etc).
The problem with that is the consumer confidence issue, people would feel safer our currency being backed in some kind of precious metal (they think it currently is) ... but compared to the truth, any "asset" will do which is why ...........
I'm a huge proponent of matching the quantity of currency we have in circulation directly to the population of the country. While to hard money people, that sounds about as good as backing it in tic tacs, what a boost it would be the the consumer confidence to know that our government considers us it's most precious asset .. more valuable than gold. We need something along those lines.
I'm a loon, I get that, still think it's a great idea that would cost our gov't nothing to implement and would absolutely tie the quantity of our next currency to something, as long as the value per person isn't a floating point.
The problem is that immigration would go way up because DC would see the "profit" in allowing open citizenship, but hey, I can only solve one problem at a time.
Also: IMO, our fractional lending policies are more of an enemy to the quantity of circulation and debasement of our dollar than the FED printing it. It's fraud in the worst way and should be outlawed in the same way robbery is. And to think these fuckers consider themselves businessmen like you and I.
The problem with that is the consumer confidence issue, people would feel safer our currency being backed in some kind of precious metal (they think it currently is) ... but compared to the truth, any "asset" will do which is why ...........
I'm a huge proponent of matching the quantity of currency we have in circulation directly to the population of the country. While to hard money people, that sounds about as good as backing it in tic tacs, what a boost it would be the the consumer confidence to know that our government considers us it's most precious asset .. more valuable than gold. We need something along those lines.
I'm a loon, I get that, still think it's a great idea that would cost our gov't nothing to implement and would absolutely tie the quantity of our next currency to something, as long as the value per person isn't a floating point.
The problem is that immigration would go way up because DC would see the "profit" in allowing open citizenship, but hey, I can only solve one problem at a time.
Also: IMO, our fractional lending policies are more of an enemy to the quantity of circulation and debasement of our dollar than the FED printing it. It's fraud in the worst way and should be outlawed in the same way robbery is. And to think these fuckers consider themselves businessmen like you and I.
Thats the government not an independent company. If a real bank was putting out fake bars someone would find out.
It's normally between 5oz and 50oz, normally 5% off of spot or so. Just sold 18oz for $40/oz.
I've built a business model around silver/gold below spot, the ebook will be out in 7 days
reviewcopyplz
It's normally between 5oz and 50oz, normally 5% off of spot or so. Just sold 18oz for $40/oz.
I've built a business model around silver/gold below spot, the ebook will be out in 7 days
You know that an OZ of gold cost $1,800, right?
What the fuck, I call shananagans
The complexity of the word's currency system doesn't make sense for us to go back to a commodity as medium of exchange. Gold is difficult to use due to it's uses in industry and availability.
Although this presents a catch 22 because I agree with many critics of the fiat system that has no true equilibrium and can get out of hand with all of the greed inherent in man.
It would be nice to have a standard medium, but I would presume there would be a laundry list of con's that would be unaccounted for without experience.
Although this presents a catch 22 because I agree with many critics of the fiat system that has no true equilibrium and can get out of hand with all of the greed inherent in man.
It would be nice to have a standard medium, but I would presume there would be a laundry list of con's that would be unaccounted for without experience.
Fun thought... But Tungsten would still cost a lot, right? Why not just use really low-grade gold itself?
BTW love that pic:
Annoying huh?Not a bitcoin thread and you bitcoin fanboys are sooooo annoying....
Then I guess I won this argument by default.
EDIT: All gold threads Damn well SHOULD be bitcoin threads. Bitcoin > Gold.
Not a bitcoin thread and you bitcoin fanboys are sooooo annoying....
I'm still unsure about my stance on bitcoins. Could you adress his points, please? The idea behind bitcoins should be every libertarians wet dream,not?
Tell me.
How does the Gold Standard support economic expansion?
How does the Gold Standard affect the rewards of economic risks aka innovation?
How does the Gold Standard do anything but keep everyone at their status quo and eliminate hope, dreams, and the ease of class mobility that we currently enjoy in the United States?
How does the Gold Standard support economic expansion?
How does the Gold Standard affect the rewards of economic risks aka innovation?
How does the Gold Standard do anything but keep everyone at their status quo and eliminate hope, dreams, and the ease of class mobility that we currently enjoy in the United States?