|
agentbluescreen
|
 |
« Reply #160 on: November 14, 2010, 07:31:44 AM » |
|
Platinum is no good as a primary monetary metal, because it is an industrial metal. Its price falls when industrial activity falls, unlike gold, which is primarily used for bullion. Contracts require predictability and stability. Gold provides that. This is why it has been used as money for over 6,000 years.
But you keep ignoring the obvious huge and eternally unreconcilable problem that gold is finite! The infinitely ever-growing and prospering productive economic "labor-exchange token currency" of commerce(s) CANNOT be shackled and limited to just the "free supply portion" of a finite commodity since the demand for it continually expands by both hoarding and population (growths). Shackling the supply of the "exchange life-blood" of a growing organism to a limited finite supply of "currency medium" is a recipe for exhaustion and a permanent depressive stunt to all growth beyond a certain arbitrarily-preordained finite limit. The "work-exchange token currency" (money-chip) supply must expand (or stop expanding) along with the (populist) supplies of labors to be exchanged (or spent on other commodities) with it. The "prime commodity" in a human-commercial exchange "currency" system is human work. A currency therefore, is always backed by the fruits of the labors it represents, and nothing else! All the "gold-standard nuts" are talking about is measuring inflation so that well-regulation can have a proper, honest and correct measurement-benchmark so it will be easier to judge the actions or inactions of regulators and regulations in reference to the common good of it's owners, the public workforce. Unregulated corporate-socialist capitalism is noble-privatist-fiat tribal-mafia mercantile monopolism (mob-terrorist imperialism). The American Free Market Capitalism of Adam Smith is a well-regulated publicly owned currency and commerce system WELL regulated to ensure and foster free competition. The concepts of well-regulation are the preservation of independence in and for all enterprises and commercial endeavors, the balancing of reward for intellectual property innovation with the reward of society for enabling the inventors, the preservation, good use and management of the profits earned from the lending of the public currency to private users, the regulation of trade, excise and tariffs for the common good, and the protection of national resources, the people and our industries. Competitivity is the engine of ever-greater success, prosperities and efficiencies. Monopolies are corrupt, lazy, decadent, usurious and parasitic. |
|
|
|
|
Logged
|
|
|
|
|
agentbluescreen
|
|
« Reply #161 on: November 14, 2010, 07:57:20 AM » |
|
We didn't need town planning prior to that BUT, I advocate keeping town planning until we go onto a gold standard. However, there is a catch 22. These regulations mask problems inherent in the system and folk often only act during times of crisis.
In foolishly using your "gold standard commodity" as a "labor exchange currency" system, in you and your wife having a third child, you have just degraded him, yourselves and your other two children, by proportionally devaluing the value of all-work for another 80 years, by adding an additional divisor in relation to your finite "gold pool". |
|
|
|
|
Logged
|
|
|
|
|
planning4acrash
|
|
« Reply #162 on: November 14, 2010, 10:52:58 AM » |
|
Mr Coke, that is a very silly thing to say. Maybe you've had too much, coke?
A finite supply of currency does not mean a finite supply of wealth. Moreover, as productivity and population rises, so too does the value of gold, along with demand for smaller fractional pieces. This means, that all those who earn, save and recieve fixed incomes benefit from any increase in productivity and population. Given that my children will work and be able to save, they too will benefit. The alternative is to have a paper currency where all that productivity is stolen to fund expansion of the state and global corporations.
As mentioned above, gold could rise to tremendous values and retain its ability to be incorporated into coinage or even notes, as a metal strip on a paper note. This is because gold is the most malleable and ductile of all metals; a single gram can be beaten into a sheet of 1 square meter, or an ounce into 300 square feet. Gold leaf can be beaten thin enough to become translucent.
And even if that fails, we can always have silver or copper small change, or even something else, as would arise on a free market.
|
|
|
|
|
Logged
|
|
|
|
|
agentbluescreen
|
|
« Reply #163 on: November 14, 2010, 01:41:03 PM » |
|
Once again you could embed Pig-footed Bandicoot toejam in your dollar bills, if you wished, it's totally irrelevant to the current common commercial labor-exchange-value "currency" of your means of public commerce, but it may thwart counterfeiting.
A labor-exchange-value "currency" cannot have any (significant) fixed physical value or it will (eventually) out-grow it (and be harvested for that melt value alone) in an ever enlarging labor-commodity market.
Gold and silver coins are a completely different animal than currency. Their commodity value (melt worth) is always doomed to overshadow and vastly exceed their monetary one. A Maple Leaf or a Silver Eagle coin is merely a vanity collectors item one buys for savings like bullion bars. If banks paid fair and honest savings rates adjusted for inflation they would be obsolete, save for commemorative, collectable or ornamental purposes.
We all expect that labor-currency value will decline with population growth when the job market is static or shrinking, this is the "normal, healthy" sort of currency inflation problem related to imbalanced growth. This is a simple, irrevocable fact of consumer labor supply life that must be resolved on the work-demand productivity-marketing side.
It is when the money supply is being expanded (demeaned, diluted) for other reasons, purposes and goals, like borrowing a private currency by paying private debt interest-flation to usurius privateers, or monetizing debt and interest-flations by diminishing the value of the owed currency and it's interest debt to evade value-repayment, or borrowing and printing more to subsidize favored noble corporate criminals, or to finance exempting the wealthiest criminals from illegal taxation to pay the rent on borrowed private money that everyone else is burdened by.
When the labor-exchange-currencies' value is demeaned for those corrupt purposes it is a direct hidden tax pay-cut on all who work (for that same, now devalued time/ducat) to exchange their labor for sustenance.
|
|
|
|
|
Logged
|
|
|
|
|
planning4acrash
|
|
« Reply #164 on: November 15, 2010, 04:22:03 PM » |
|
Gold and silver coins are a completely different animal than currency. Their commodity value (melt worth) is always doomed to overshadow and vastly exceed their monetary one. A Maple Leaf or a Silver Eagle coin is merely a vanity collectors item one buys for savings like bullion bars.
Nonsense. A coin's melt value IS its monetary value. Canadian Maple Leaves sell only slightly above spot prices, so, again, FAIL. I've bought them at 4% above spot, which is only a small margin for the coin dealer. Plus, what the heck are you saying that gold is not monetary. The vast majority of all the gold mined in history, probably 80% of it, is stored, as money, in vaults or as coinage. How can you say such stuff with a straight face?! |
|
|
|
|
Logged
|
|
|
|
|
agentbluescreen
|
|
« Reply #165 on: November 15, 2010, 05:36:04 PM » |
|
Nonsense. A coin's melt value IS its monetary value. Canadian Maple Leaves sell only slightly above spot prices, so, again, FAIL.
Nonsense that is the slug's commodity exchange value. "Money" is labor-exchange "currency" based and backed upon the value of the prime commodity of work. Unless you are a miner you do not "work for gold" nor any other specific raw commodity. You are contracted to work for a commission, wage rate or salary of "labor exchange currency", raw gold is not tender as currency, it must be sold on a commodity exchange to get it's "currency" value. A Canadian gold coin's legal tender currency, "monetary" value is $200 (or something the likes, depending the species) as a silver dollar has a "monetary" tender-currency value of $1. That $200 gold/silver coin has a commodity exchange value of now over 800 monetary "dollars". Our problems have nothing to do with what currency is, it's who (illegally) "owns" and "rents" it "to us" that are the problems.
|
|
|
|
|
Logged
|
|
|
|
|
planning4acrash
|
|
« Reply #166 on: November 16, 2010, 01:00:29 PM » |
|
Legal tender value is not the real money value, because legal tender laws rely on force. This is the opposite to free market forces. No, the bullion price of gold is its true monetary value. Any additional value from coinage quality moves into the realm of jewellery and numismatics.
The bullion/monetary value of gold would, if used as currency, take into account the supply and demand of labour, goods and services, so you don't need a psychobabble abstract monetary construct to do this. Specie currency, unmanipulated, is a self-regulating thing, so long as fraud is minimized. Of course, the strongest, most systematic form of fraud is the manipulation of currency caused via legal tender laws.
|
|
|
|
|
Logged
|
|
|
|
|
planning4acrash
|
|
« Reply #167 on: December 24, 2010, 03:57:35 AM » |
|
One cannot separate economic theory from our understanding of human nature. There has been no fiat system in history where those in control of it could not succumb to printing money from thin air, to maintain or grow their power and wealth, using welfare as justification, but with that element of the program always being a fraction of that handed to big corporations. Incidentally, I e-mailed Bob Chapman, who thinks that Ellen Brown is an Agent of the Federal Reserve. http://www.garynorth.com/public/department141.cfm |
|
|
|
|
Logged
|
|
|
|
|
trailhound
|
|
« Reply #168 on: July 28, 2011, 04:38:18 PM » |
|
http://mises.org/daily/5492/Putting-the-Country-Back-on-GoldIn the present article I'll focus on Mises's intriguing proposal for returning a country to a gold-backed currency. (This proposal is in the last section of the book, consisting of material written after World War II.)
|
|
|
|
|
Logged
|
 "Do not let your hatred of a people incite you to aggression." Qur'an 5:2 At the heart of that Western freedom and democracy is the belief that the individual man, the child of God, is the touchstone of value..." -RFK |
|
|
|
donnay
|
|
« Reply #169 on: July 28, 2011, 05:15:17 PM » |
|
+1000 "Give me liberty or give me death!" |
|
|
|
|
Logged
|
"Logic is an enemy and truth is a menace." ~ Rod Serling
"Cops today are nothing but an armed tax collector" ~ Frank Serpico
"To be normal, to drink Coca-Cola and eat Kentucky Fried Chicken is to be in a conspiracy against yourself."
"People that don't want to make waves sit in stagnant waters."
|
|
|
|
egypt
|
|
« Reply #170 on: July 28, 2011, 06:04:37 PM » |
|
What happened to three entire pages of posts in this thread? I was wanting to know what is bad about gold & silver to back a currency.
Love, e
|
|
|
|
|
Logged
|
|
|
|
|
donnay
|
|
« Reply #171 on: July 28, 2011, 06:15:59 PM » |
|
What happened to three entire pages of posts in this thread? I was wanting to know what is bad about gold & silver to back a currency.
Love, e
E, It was here and was split up--why, I do not know?  |
|
|
|
|
Logged
|
"Logic is an enemy and truth is a menace." ~ Rod Serling
"Cops today are nothing but an armed tax collector" ~ Frank Serpico
"To be normal, to drink Coca-Cola and eat Kentucky Fried Chicken is to be in a conspiracy against yourself."
"People that don't want to make waves sit in stagnant waters."
|
|
|
|
egypt
|
|
« Reply #172 on: July 28, 2011, 06:45:04 PM » |
|
E, It was here and was split up--why, I do not know? Do you know where it was split to, so I can follow it? Thanks Donnay. Love, e |
|
|
|
|
Logged
|
|
|
|
|
donnay
|
|
« Reply #173 on: July 28, 2011, 06:49:10 PM » |
|
Do you know where it was split to, so I can follow it? Thanks Donnay.
Love, e
I put the link above but here it is: http://forum.prisonplanet.com/index.php?topic=98465.280;topicseen |
|
|
|
|
Logged
|
"Logic is an enemy and truth is a menace." ~ Rod Serling
"Cops today are nothing but an armed tax collector" ~ Frank Serpico
"To be normal, to drink Coca-Cola and eat Kentucky Fried Chicken is to be in a conspiracy against yourself."
"People that don't want to make waves sit in stagnant waters."
|
|
|
|
planning4acrash
|
|
« Reply #174 on: October 23, 2011, 05:58:46 PM » |
|
The reason gold and silver are bad to back a currency is because the free market exchange rate between gold and silver fluctuates. If the legal tender value of silver falls below its free market value, it will leave the economy for higher bidders creating a shortage of small change. This system of fixing silver and gold via legal tender laws is called bi-metalism. So, you can have a sound silver currency or a sound gold currency, possibly have both, but they must trade freely against one another. And this is fine to occur, because gold and silver have different functions in the economy and silver, being an industrial metal is more volatile than gold. So, silver is better for barter, and gold is better for savings and big purchases. This podcast explains what occurred when silver left the British economy as a result of bi-metalism: http://www.lewrockwell.com/lewrockwell-show/2009/03/19/106-george-selgin-libertarian-coinage/ |
|
|
|
|
Logged
|
|
|
|
|
worcesteradam
|
|
« Reply #175 on: November 10, 2011, 03:30:00 AM » |
|
the whole banking system needs to be nationalised
|
|
|
|
|
Logged
|
"Outlaws have their uses." - Earl of Newark
|
|
|
|
planning4acrash
|
|
« Reply #176 on: November 10, 2011, 03:35:39 AM » |
|
the whole banking system needs to be nationalised
You idiot. The reason the banking system is in trouble is because of government intervention! You think that total government control is the solution to that? |
|
|
|
|
Logged
|
|
|
|
|
worcesteradam
|
|
« Reply #177 on: November 12, 2011, 02:25:43 AM » |
|
I think it would be better if credit creation was fully controlled by the government and people wernt profiting so much from its current quasi private status.
Unless and until competing currencies are allowed in the economy, because at the moment there is a dollar monopoly in private hands
|
|
|
|
|
Logged
|
"Outlaws have their uses." - Earl of Newark
|
|
|
|
planning4acrash
|
|
« Reply #178 on: November 14, 2011, 07:25:00 AM » |
|
What if there was a general election for the head of the Federal Reserve?! And if it was run by Congress!!!
|
|
|
|
|
Logged
|
|
|
|
|
