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Will there be a great depression?
yes 42%  42%  [ 16 ]
mabie 37%  37%  [ 14 ]
no 13%  13%  [ 5 ]
I dont know 8%  8%  [ 3 ]
Total votes : 38

just-me
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08 Mar 2009, 3:35 am

MrMisanthrope wrote:
A very long article about what happened in 1722 with Fiat Money & Fractional Reserve Banking...

http://www.ncc-1776.org/tle2009/tle508-20090301-08.html


good post! I like the article.



SpazzDog
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09 Mar 2009, 12:59 pm

just-me wrote:
yes and now we are having a global crisis . do you see a trend?

If we went back to a gold standard, then there wouldn't be hardly any wealth on a global scale. Gold is finite, perhaps around ~$1,000,000,000,000 worth, give or take. Let's just be generous and say there's $4 trillion worth of gold. Then that'd be the largest the world economy will ever get and growth would be stalled. Why? Because if each dollar represented x pounds of gold, then you can only print x times how ever many pounds of gold there is in the world for the entire world's economy. It's just not practical, sorry.


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MrMisanthrope
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09 Mar 2009, 1:16 pm

SpazzDog wrote:
just-me wrote:
yes and now we are having a global crisis . do you see a trend?

If we went back to a gold standard, then there wouldn't be hardly any wealth on a global scale. Gold is finite, perhaps around ~$1,000,000,000,000 worth, give or take. Let's just be generous and say there's $4 trillion worth of gold. Then that'd be the largest the world economy will ever get and growth would be stalled. Why? Because if each dollar represented x pounds of gold, then you can only print x times how ever many pounds of gold there is in the world for the entire world's economy. It's just not practical, sorry.

And why would it have to be just gold?

Hell, even when the US was on the "gold standard" our specie was... Gold, Silver & Copper.

Why not Platinum, Gold, Silver, Copper? Why not Iridium, or Silicon Buttons?

Specie doesn't have to be "just" gold, it can be any material with inherent comodity value. It could be Eggs... though they are hard to carry. :wink:


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09 Mar 2009, 1:23 pm

In that case, I think we should go to a salt based economy. It's prevalent and very very useful. But not just salt, but actualized energy captured from the sun, geothermal vents, and non-petroleum based chemical reactions.


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MrMisanthrope
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09 Mar 2009, 1:56 pm

SpazzDog wrote:
In that case, I think we should go to a salt based economy. It's prevalent and very very useful. But not just salt, but actualized energy captured from the sun, geothermal vents, and non-petroleum based chemical reactions.

The key is to not BASE the economy on anything but Production and inherent value.

http://www.ncc-1776.org/tle2009/tle507-20090222-02.html


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xenon13
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09 Mar 2009, 2:48 pm

Obama has not the nerve to take necessary measures - his team is full of Clinton people who helped cause the crisis. They also helped bring crisis to Yeltsin's Russia... they are nothing but the worst. As there is yet any serious alternative that can concentrate the minds of the ruling class, I see no respite from this ghastly situation.



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09 Mar 2009, 8:20 pm

Both salt and energy have inherent value.


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