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mfmezz11 (August 19, 2008 at 8:24 pm)
Every fiat system in history has failed. Check it out for yourself - they almost ALWAYS end in hyperinflation or an attempt at a new monetary system.
7Hook (August 17, 2008 at 5:08 am)
then you produce something that other countries want to buy.
mariasman100 (August 17, 2008 at 3:20 am)
Now, in case cloud3941 is reading this, he should take note that the money supply from 1921 to 1929 increased 65% yet the gold stock increased only 16% during the same period. This illustrates that, in fact, we did not have a gold standard at the time, I don't care what it what called. Politicians, bankers, businessmen and just about anyone else with something to gain have arrived at creative means to sidestep the discipline imposed by the gold standard. Naturally, their systems tend to fail.
mariasman100 (August 17, 2008 at 3:13 am)
... by increased production. The point that should not be overlooked is that, absent the inflation, prices would have fallen. NOTE: The 1920's did see dramatic price rises in both real estate and the stock market at various times, particularly the stock market near the end of the decade.
mariasman100 (August 17, 2008 at 3:01 am)
... by Rothbard. He discusses that prices were remarkably stable in the U.S. despite an expansion of the money supply of roughly 65% from 1921 to 1929. I've seen many arguments that there was no inflation during the 1920's, and this argument persits because most people define inflation as rising prices. But that's bunk. Inflation is the expansion of the money supply... rising prices is a consequence of inflation. But even inflation will not cause a rise in general prices if it is accompanied...
mariasman100 (August 17, 2008 at 2:56 am)
InTheRainstorm, there is no reason for workers to expect pay raises when prices are steadily falling. In fact, it is precisely these falling prices that occurs with a sound monetary system that illustrates the rising productivity of the work force. It is also these falling prices that equitably distributes the benefits of the increased productivity. Everyone who earns a paycheck sees their purchasing power and standard of living rise. I am currently reading "America's Great Depression" ....
mariasman100 (August 17, 2008 at 2:19 am)
Nonsense.
cloud3941 (August 17, 2008 at 12:31 am)
Gold standard was tryed in the past and failed, don't you people get it, it simple can't work. Pretend the US is on the gold standard, what if countries selling goods to america demand gold instead of dollar then US will eventually run out of gold, then what?
sweetmohawklady (August 16, 2008 at 9:48 pm)
Dec 21 2012 was a mis read, the end of the free world was dec(just before christmas) 1913, when the federal reserve was unfortuneately born.
JustinVerrengia (August 15, 2008 at 1:04 am)
make money money |
