19 Oct 2014 3:15 am
If you want a true gold standard the issuer of the currency must be able to back all circulating money at the value they give it. Money is like everything else. It's subject to supply and demand.Cannonpointer » 19 Oct 2014 12:15 am » wrote:
Yeah - part of the argument that the friends of the federal reserve put out. They own economists - the entire field. No one dares speak the truth.
Couldn't POSSIBLY be that all the money was sucked out of the economy by mentally diseased parasites who do not understand that money - even gold - is not worth holding onto in such quantities. It's nothing until it's spent, and the potential it represents does not exist until the moment that potential is actualized by acquisition. At rest, gold means nothing. So,m yeah. The money supply "contracted." Same thing just happened for the same reasons, and the fed is SHOVELING credit into the fray, because whereas gold was money, fed notes are not. They're just credit, conjured, borrowed LITERALLY from the borrower in the moment they are lent. ANd how THAT prestidigitation proceeds is not something any economist of any stripe with be explicating any time soon.
In the mean time, there's a pretty good bit of correlation between fiat and ****. I lived then, and whereas anecdotes are not the strongest evidence, I can tell you these objectively verifiable facts, which you can google at bing.com:
1. Prices doubled immediately on just about everything. Cokes went from a nickel to a dime to 15 cents to a quarter in two, maybe three years. Candy, ice cream - all of your basic staples (when you're a kid) went the same route. Milk, cigarettes, bread - same story. Mary Shannon over on Strickland - doubled the price for a peek or a feel. But that COULD be because she started getting hair down there. I DO respect the functions of the free market.
2. Mom had to go to work because wages did not keep pace. By mom, I'm not just talking about my own. Like I said - that's why she stopped taking any **** off daddy. What makes HIM the authority? Being wrong on everything, or being incapable of supporting the family? Would you call that man Cassius Clay to his face? You know you wouldn't. So call him Mohammed Ali. It's his name - he has the right to say. And while you pack that bag, just know this: Bobby Joe Riggs is going down.
This was FDR's brainchild. Your love of his policies is well known.