States consider using gold as currency

[acorn54]

well this is what happens when the fed starts printing money out of thin air


http://finance.yahoo.com/news/states-consider-alternative-currencies-gold-100700922.html

[Robert Goren]

Youtube really should take down those Jared Loughner videos.

[Capper Al]

well this is what happens when the fed starts printing money out of thin air


http://finance.yahoo.com/news/states-consider-alternative-currencies-gold-100700922.html

Does the right wing want to re-create the same chaos as they did with the Debt crisis and bring down the recovery? Anyway, if one studies economics they would understand that this gold/silver stanard is non-sense. When the Spaniards brought home the gold from Mexico, it created inflation. Simple put, there was just too much gold circulating. In our time, the top two percent would hoard it and bring back the recession or a depression.

[Tom]

Yeah, that damned right wing. :rolleyes:
Of course the left has the correct solution: lie about employment numbers and print unlimited money. What could go wrong there?

[DJofSD]

When the Spaniards brought home the gold from Mexico, it created inflation. Simple put, there was just too much gold circulating.

Article on Wikipedia cites inflation was already on the rise with the influx of bullion from the New World. This implies the influx was a contributing factor but not the cause.

In any event, what does an influx of bullion back then have to do with the states exploiting their rights under the 10th admendment? The states are not adding to the money supply they're making an alternative means of payment possible. Is barter inflationary?

[acorn54]

i don't think as a practical issue people will be carrying around gold coinage being that an ounce of gold is in the neighborhood of $1700 plus the fact of daily flucuations on the commodities market.

[Capper Al]

Yeah, that damned right wing. :rolleyes:
Of course the left has the correct solution: lie about employment numbers and print unlimited money. What could go wrong there?

The difference is that you can accuse the stats as lies. The right just makes up things. When the libs had problems with Bush it was for specific things like finding no weapons of mass destruction.

[Capper Al]

Article on Wikipedia cites inflation was already on the rise with the influx of bullion from the New World. This implies the influx was a contributing factor but not the cause.

In any event, what does an influx of bullion back then have to do with the states exploiting their rights under the 10th admendment? The states are not adding to the money supply they're making an alternative means of payment possible. Is barter inflationary?

The point is it's all about the balance in circulation of media. With paper we are not limited to supply when we need to circulate more. I doubt we'll ever have a surplus of gold again, but the constraint of limit supply would hurt us.

[Actor]

There are 147,300,000 ounces of gold in Ft Knox.
Price of gold is $1700 / ounce (and this fluctuates).
That's $250,000,000,000 worth of gold.
There is about $700,000,000,000 U.S. in circulation.

So the U.S. does not have enough gold to go on a gold standard unless we buy another $450,000,000,000 worth, or the price goes to $3100 / ounce.

As for the states minting their own coin:

How much do they propose to mint?
Assuming they don't have a substantial amount, where are they going to buy it?
With what? U.S. currency?

By the way, Article 1, Section 10 of the Constitution says

No State shall ... coin Money; ... make any Thing but gold and silver Coin a Tender in Payment of Debts ...

which seems to say that the states can make "make ... gold and silver Coin a Tender in Payment of Debts ..." but that only the Federal Government can actually mint the coins.

[LottaKash]

Does the right wing want to re-create the same chaos as they did with the Debt crisis and bring down the recovery? .

Recovery, what recovery ?.....Debt crisis, this gangster regime (both parties), has done more to increase the Debt Crisis, than any that came before it, ever....

A new Gold Standard, who knows ?....Still, it once was, when Money was more real than the "Phantom-Bucks" that we now have (or should I say,don't have, haha)...

best,

[DJofSD]

All I know is golf is more acceptable than clam shells.

[Tom]

The difference is that you can accuse the stats as lies. The right just makes up things. When the libs had problems with Bush it was for specific things like finding no weapons of mass destruction.

I take it you missed PA.s infamous video?

[singletax]

Will the Feds accept Indiana, NC, etc. currency as payment to the IRS? If not, then all those with State currencies are welcome to stack it up and hoard all they want.

[boxcar]

Will the Feds accept Indiana, NC, etc. currency as payment to the IRS? If not, then all those with State currencies are welcome to stack it up and hoard all they want.

If the Feds wouldn't accept something that has genuine, intrinsic value (such as silver or gold), then the lunatics are running this country.

Boxcar

[Capper Al]

Recovery, what recovery ?.....Debt crisis, this gangster regime (both parties), has done more to increase the Debt Crisis, than any that came before it, ever....

A new Gold Standard, who knows ?....Still, it once was, when Money was more real than the "Phantom-Bucks" that we now have (or should I say,don't have, haha)...

best,

If what is in your wallet isn't real, you can mail it to me.

[Capper Al]

I take it you missed PA.s infamous video?

I guess I did. Have a good day, Tom.

[Capper Al]

If the Feds wouldn't accept something that has genuine, intrinsic value (such as silver or gold), then the lunatics are running this country.

Boxcar

An economy is grown. What happens when we need to grow it like we do now? If we can't grow it then a depression will follow. The upper 2% just keeps hoarding and having a gold standard would allow them to capture the wealth of the nation even more. It is actually the printing of money that creates money for the rest of us. If what you have in your wallet has no intrinsic value then you can send it to me.

[acorn54]

one's house was always the biggest asset for middle america.

[LottaKash]

If what is in your wallet isn't real, you can mail it to me.

Capper, I get that part alright, but, there's just not that much of it lately, is all....

I see what I get for "my" money at the grocery-store, these days, and it's not too good to tell you the truth...I just ain't getting the bang for my buck at the grocer's, as in past times...This is my handy way of gauging our economy..

All the stats and graphs don't mean a thing to me, just show me the Food prices...

best,

[Capper Al]

Capper, I get that part alright, but, there's just not that much of it lately, is all....

I see what I get for "my" money at the grocery-store, these days, and it's not too good to tell you the truth...I just ain't getting the bang for my buck at the grocer's, as in past times...This is my handy way of gauging our economy..

All the stats and graphs don't mean a thing to me, just show me the Food prices...

best,

I feel your pain. But understand that gold has gone up 5 or 10 times since a few years back. Think what you would pay for a dozen eggs under the senario of a gold standard? It's all relative but with gold, the top 2% get to keep more which is the problem we are tryin to equalize now.

[PaceAdvantage]

I guess I did. Have a good day, Tom.No problem...it always feel good to trot this out now and then:

Cwqh4wQPoQk

[Capper Al]

No problem...it always feel good to trot this out now and then:

Cwqh4wQPoQk

What a piece of propaganda. It suggests that the dems were bad people. It ignores the influence, intended or not, that the republican white house was giving out wrong information. Given the information the white house put out, there was almost a unanimous vote of both dems and reps to protect our country. This should have been the reaction of the legislators, without regard to their party. And the biggest omission of all was that they forgot to mention Obama saw through all the hysteria and voted against going in. The dems just don't have the money to try to re-write history like this.

[PaceAdvantage]

What a piece of propaganda. It suggests that the dems were bad people. It ignores the influence, intended or not, that the republican white house was giving out wrong information. Given the information the white house put out, there was almost a unanimous vote of both dems and reps to protect our country. This should have been the reaction of the legislators, without regard to their party. And the biggest omission of all was that they forgot to mention Obama saw through all the hysteria and voted against going in. The dems just don't have the money to try to re-write history like this.What? Many of the clips in that video were from BEFORE Bush even became President...the veil is indeed thick over your eyes, isn't it?

[Capper Al]

What? Many of the clips in that video were from BEFORE Bush even became President...the veil is indeed thick over your eyes, isn't it?

It's one thing to be concerned over Iraq, and it's another thing to go into war. For instance, I'm concerned about North Korea. I'm not saying, we should go to war with North Korea.

These videos are made for the faithful. Those who want to believe that there is a good side (repubs) verse a bad side (dems). The facts and the truth are secondary and will be glossed over by the faithful. Ideology of both sides is okay as long as the issues and the facts preside over ideology- not the other way around.

[PaceAdvantage]

It's one thing to be concerned over Iraq, and it's another thing to go into war. For instance, I'm concerned about North Korea. I'm not saying, we should go to war with North Korea.

These videos are made for the faithful. Those who want to believe that there is a good side (repubs) verse a bad side (dems). The facts and the truth are secondary and will be glossed over by the faithful. Ideology of both sides is okay as long as the issues and the facts preside over ideology- not the other way around.The only thing that video shows are facts. Facts that many prominent DEMOCRATS were beating the drum about IRAQ and WEAPONS OF MASS DESTRUCTION well BEFORE Bush ever stepped into the oval office.

AND they CONTINUED to beat the drum after Bush arrived and BEFORE whatever supposed "fake evidence" was put on display by Powell and Co.

All you need to do is note the dates those quotes occurred.

It has nothing to do with good or bad, but everything to do with HYPOCRISY.

[Capper Al]

The only thing that video shows are facts. Facts that many prominent DEMOCRATS were beating the drum about IRAQ and WEAPONS OF MASS DESTRUCTION well BEFORE Bush ever stepped into the oval office.

AND they CONTINUED to beat the drum after Bush arrived and BEFORE whatever supposed "fake evidence" was put on display by Powell and Co.

All you need to do is note the dates those quotes occurred.

It has nothing to do with good or bad, but everything to do with HYPOCRISY.

You are the faithful, and you are glossing over the facts. The HYPOCRISY is for those who made the video knowing that they would rally theri faithful to fight for their crusade and causes. This ends my part of this conversation. Thanks for your input. I'm back to the horses.

[PaceAdvantage]

You are the faithful, and you are glossing over the facts. The HYPOCRISY is for those who made the video knowing that they would rally theri faithful to fight for their crusade and causes. This ends my part of this conversation. Thanks for your input. I'm back to the horses.End all you want your part of the conversation. It will never change the facts at hand. You have video, you have words coming out of their mouths, and you have DATES...all a matter of public record.

This has nothing to do with creative editing or the "faithful" as you call it. Your inability to acknowledge what is happening in that video should have you examining your own "faith" pretty intensely IMO.

[boxcar]

What a piece of propaganda. It suggests that the dems were bad people. It ignores the influence, intended or not, that the republican white house was giving out wrong information. Given the information the white house put out, there was almost a unanimous vote of both dems and reps to protect our country. This should have been the reaction of the legislators, without regard to their party. And the biggest omission of all was that they forgot to mention Obama saw through all the hysteria and voted against going in. The dems just don't have the money to try to re-write history like this.


Since when Mr. Capper did the DemRats ever march in lockstep with their nemeses the Republicans? No one twisted their arms to come out in full support of the intelligence they were given. Nor did anyone twist their arms to accept the intelligence. There were lots of Dems in those intelligence briefing meetings which did not take place in the WH!

Finally, it doesn't take money to revise history. Money has never been a problem for revisionists. The Dems' problems is that they simply can't spin their way out of this, and money wouldn't buy them that spin either.

Boxcar

[Capper Al]

Here's the problem with the logic given.


Republican White House puts out wrong information that there are weapons of mass destruction. They may or may not have done this intentionally. It doesn't matter.
Our legislators, based on the information given, almost unanimously vote to defend America based on the information given.
Both parties vote to defend America. This means the video clip could just as easily shown repubs making similar statements as the Dems given the evidence, but choose not to.
The fact that Obama saw through the hysteria is overlooked.
So the video is saying, it doesn't matter what the G.W. Bush's office did. He's not accountable for misinformation. Only the dems that believed the misinformation are videoed and shown as hypocrites. It doesn't matter that the republicans supported the war also. And who cares that Obama got it right! We could use this scenario for the banking crisis as well. The faithful will believe anything. Remember, I'm saying it is okay to have an ideology. It's wrong to force the ideology over the facts and the issue. I'm a Dem but the Bay of Pigs was an error. This is how a democracy is suppose to work, check and balance.

[sammy the sage]

Since when Mr. Capper did the DemRats ever march in lockstep with their nemeses the Re-puk-ans?
Boxcar

Need to go back and visit history 101...both sides ALWAYS agree when it gives THEM more control/power over you/I/every-one else...

I've lost count...heck...just this last 6 month's...they've voted arm & arm TWICE....posted threads as such... :faint:

[LottaKash]

Need to go back and visit history 101...both sides ALWAYS agree when it gives THEM more control/power over you/I/every-one else...



Just like Capone gave O'Bannion the North Side....Right ?

Those guys, would've been mighty jealous of these here guys, of today....

The common 101 link; "all gangsters".........

Well, that is what, and all, I see, clearly...these days.

best,

[lamboguy]

this gold standard by individual states won't work today because there is no way that a state can afford to fix the price of precious metals. gold and silver trade 365 days a year 24 hours a day, and the price changes constantly. the factors behind the price come from places outside the united states. if gold were to take a $200 hit, it could bankrupt a state instantaneously. and gold can do that easily.

value in precious metal's are hard to handicap because you now have people throughout the world that have never owned anything and are now allowed to buy things. there are over 1 billion people in china, big populations in africa, and other parts of asia that are now potential precious metals buyers. that also makes them potential big sellers. price swings are going to become wicked in the not to distant future.

[Capper Al]

this gold standard by individual states won't work today because there is no way that a state can afford to fix the price of precious metals. gold and silver trade 365 days a year 24 hours a day, and the price changes constantly. the factors behind the price come from places outside the united states. if gold were to take a $200 hit, it could bankrupt a state instantaneously. and gold can do that easily.

value in precious metal's are hard to handicap because you now have people throughout the world that have never owned anything and are now allowed to buy things. there are over 1 billion people in china, big populations in africa, and other parts of asia that are now potential precious metals buyers. that also makes them potential big sellers. price swings are going to become wicked in the not to distant future.

I think those were mostly if not all republican governors. It sounded a PR trick. And you are right, they would never do it.