Worst. Socialist. Ever.

[Bleyseng]

That will be the day!

The rich keep getting richer as they are the "House" now and the "House" never loses, it always wins. Taxation is totally slanted to the rich keeping theirs and us losing ours.

[BellePlaine]

That will be the day!

The rich keep getting richer as they are the "House" now and the "House" never loses, it always wins. Taxation is totally slanted to the rich keeping theirs and us losing ours.

Bleyseng, do you see that fiat money is a tax? And it is the "House's" advantage as you put it. Gold would help even the playing field.

[Amskeptic]

That will be the day!

The rich keep getting richer as they are the "House" now and the "House" never loses, it always wins. Taxation is totally slanted to the rich keeping theirs and us losing ours.

Bleyseng, do you see that fiat money is a tax? And it is the "House's" advantage as you put it. Gold would help even the playing field.

Sure about that? If we were indexed to gold, there would still be human nature running things. Human nature with tricksters and pompous "Examples For Us All" who would declare that their warehouse full of gold bricks meant that they were better people than the rest of the us. Even gold, Belle Plaine, is just a bunch of metallicky crap buried in the dirt. We have assigned "value" to gold and money. It changes not the fact that our "games" let people starve to death surrounded by abundance.
Colin

[dingo]

True that human nature continues to operate on the same principles, but gold provides a counterweight or 'flywheel' that prevents the wild swings and bursting bubbles.Gold makes it much more difficult for the scheming to runaway out of control. Without the safety net of unlimited printed money, banks are forced to operate more responsibly, as are governments..and ultimately individuals who dont have access to silly credit. So, no it doesnt by itself change human nature, , but it also doesnt fuel the grand delusion.

[Bleyseng]

Hooey on Gold as the US had many panics, recession's in the 1800's -1930's while on the gold standard. We had decent banking laws in place until Reagan started to lift them as "Big government". The banks are out of our control now unless we pass some strong laws restricting them.

[BellePlaine]

Hooey on Gold as the US had many panics, recession's in the 1800's -1930's while on the gold standard. We had decent banking laws in place until Reagan started to lift them as "Big government". The banks are out of our control now unless we pass some strong laws restricting them.

Nothing can naturally ever be in a constant state of growth forever. There has to be contractions. Life is cyclical. But our panics today worse. Hell, the "panics" are like white noise today they are so common. With gold, the group, the entire economy, is the regulator while with fiat a few men in secret are the regulators. If we want fairness, if we are going to complain about the rich getting richer on the backs of the 99% the we have got to get off of fiat.

It is the wealth transfer.

[dingo]

I agree...any healthy ecosystem has life cycles....banks should be allowed to fail, in order that more sustainable ones take their place. Fiat is the cocaine of governments and politicians....you can fund wars and wild expansion and cover up the fissures with continuous funding..but the crash and burn is inevitable. We are headed to Cyprus-ville unless radical reformation takes place..but i dont think the politicians or the braying masses have the spine for it.

[Amskeptic]

I dont think the politicians or the braying masses have the spine for it.

The "braying" masses, or the "praying masses"?

I meet people every day who are up for it. They know about modest deprivation. The upper middle, maybe they will get good and angry if they can't get what they want.

But . . . they and I will be pissed if the rich shirk the discomfitures a coming. If the rich allow serious dignified hard-working poor people to suffer or starve while they just look away . . . . .
Colin

[Lanval]

My solution: ditch the buck for something backed with a precious metal.

Gold is as arbitrary as anything else. It has no real value, nor does any other metal/gem/etc. Maybe oil, since it can be converted to work, but whatever you attempt to tie money to, you're giving a massive advantage to someone. Mad Magazine, many years ago, had a bit in which someone found a huge mountain of gold, flooded the market and reduced the value of gold to zero. This action (in the comic) led to each country attempting to tie international finance to something they could control. It was imagined in stereotypical terms, so the Chinese were trying to tie money to rice, the Indians to tea, Germans to beer, and so on. Any of those things would work equally as well, if not better, than precious metals, since they represent time/labor and have a direct usefulness (consumption).

Personally, I think money should be tied to VWs.

Michael L

[dingo]

Of course nothing has any real value. Its 'perceived' value. And gold has that....and more of it over anything else that is a practical substance.
The supply nof Gold is non-elastic....thus it cannot be controlled and manipulated by governments for their agendas, and thus they see it as an intruder...much like bitcoin.

[Lanval]

Not sure what you mean by "non-elastic"... or why governments can't manipulate gold. They can, I would think. Anyway, can you explain what you mean in more detail; I didn't quite understand what you meant there.

Thanks,

ML