Forum Replies Created
-
AuthorPosts
-
sdduuuude
Participant[quote=SDEngineer]BTW, the other problem with a currency tied to a particular commodity – especially a scarce commodity little tied to GDP as a whole – is that by it’s nature, any fixed relationship to that commodity will result in deflationary pressure[/quote]
I’m with you there.
[quote=SDEngineer]which harms investment[/quote]
Not with you there. It would change the investment environment, not necessarily for the worse. The economy would become less “borrow and spend” oriented and more savings oriented. How awful.
sdduuuude
Participant[quote=SDEngineer]BTW, the other problem with a currency tied to a particular commodity – especially a scarce commodity little tied to GDP as a whole – is that by it’s nature, any fixed relationship to that commodity will result in deflationary pressure[/quote]
I’m with you there.
[quote=SDEngineer]which harms investment[/quote]
Not with you there. It would change the investment environment, not necessarily for the worse. The economy would become less “borrow and spend” oriented and more savings oriented. How awful.
sdduuuude
Participant[quote=SDEngineer]BTW, the other problem with a currency tied to a particular commodity – especially a scarce commodity little tied to GDP as a whole – is that by it’s nature, any fixed relationship to that commodity will result in deflationary pressure[/quote]
I’m with you there.
[quote=SDEngineer]which harms investment[/quote]
Not with you there. It would change the investment environment, not necessarily for the worse. The economy would become less “borrow and spend” oriented and more savings oriented. How awful.
sdduuuude
Participant[quote=SDEngineer]The fact that the government agrees that a dollar is worth a certain amount of grams of gold on one day doesn’t mean the government can’t change that on the next day.[/quote]
Well, I agree that would just be another FIAT currency, but that really isn’t a gold standard, then. A gold standard is not expressed in dollars, it is expressed a certain mass of gold. “This paper is worth so much gold.”
The whole point is not whether gold is the right currency. The point is to remove the FIAT currency from the loop and let the market figure out what to use as a store of value. Likely it will be gold, but if it isn’t, and a better store of value emerges, I’m all for it.
sdduuuude
Participant[quote=SDEngineer]The fact that the government agrees that a dollar is worth a certain amount of grams of gold on one day doesn’t mean the government can’t change that on the next day.[/quote]
Well, I agree that would just be another FIAT currency, but that really isn’t a gold standard, then. A gold standard is not expressed in dollars, it is expressed a certain mass of gold. “This paper is worth so much gold.”
The whole point is not whether gold is the right currency. The point is to remove the FIAT currency from the loop and let the market figure out what to use as a store of value. Likely it will be gold, but if it isn’t, and a better store of value emerges, I’m all for it.
sdduuuude
Participant[quote=SDEngineer]The fact that the government agrees that a dollar is worth a certain amount of grams of gold on one day doesn’t mean the government can’t change that on the next day.[/quote]
Well, I agree that would just be another FIAT currency, but that really isn’t a gold standard, then. A gold standard is not expressed in dollars, it is expressed a certain mass of gold. “This paper is worth so much gold.”
The whole point is not whether gold is the right currency. The point is to remove the FIAT currency from the loop and let the market figure out what to use as a store of value. Likely it will be gold, but if it isn’t, and a better store of value emerges, I’m all for it.
sdduuuude
Participant[quote=SDEngineer]The fact that the government agrees that a dollar is worth a certain amount of grams of gold on one day doesn’t mean the government can’t change that on the next day.[/quote]
Well, I agree that would just be another FIAT currency, but that really isn’t a gold standard, then. A gold standard is not expressed in dollars, it is expressed a certain mass of gold. “This paper is worth so much gold.”
The whole point is not whether gold is the right currency. The point is to remove the FIAT currency from the loop and let the market figure out what to use as a store of value. Likely it will be gold, but if it isn’t, and a better store of value emerges, I’m all for it.
sdduuuude
Participant[quote=SDEngineer]The fact that the government agrees that a dollar is worth a certain amount of grams of gold on one day doesn’t mean the government can’t change that on the next day.[/quote]
Well, I agree that would just be another FIAT currency, but that really isn’t a gold standard, then. A gold standard is not expressed in dollars, it is expressed a certain mass of gold. “This paper is worth so much gold.”
The whole point is not whether gold is the right currency. The point is to remove the FIAT currency from the loop and let the market figure out what to use as a store of value. Likely it will be gold, but if it isn’t, and a better store of value emerges, I’m all for it.
March 11, 2009 at 11:09 AM in reply to: HLS update on 105% refi’s without mortgage insurance… #363983sdduuuude
Participant[quote=HLS]I still tell people that foreclosure is their solution, not their problem….
[/quote]I quote you regularly on this, by the way, both online and in face-to-face discusstions. It’s the truth.
March 11, 2009 at 11:09 AM in reply to: HLS update on 105% refi’s without mortgage insurance… #364271sdduuuude
Participant[quote=HLS]I still tell people that foreclosure is their solution, not their problem….
[/quote]I quote you regularly on this, by the way, both online and in face-to-face discusstions. It’s the truth.
March 11, 2009 at 11:09 AM in reply to: HLS update on 105% refi’s without mortgage insurance… #364429sdduuuude
Participant[quote=HLS]I still tell people that foreclosure is their solution, not their problem….
[/quote]I quote you regularly on this, by the way, both online and in face-to-face discusstions. It’s the truth.
March 11, 2009 at 11:09 AM in reply to: HLS update on 105% refi’s without mortgage insurance… #364463sdduuuude
Participant[quote=HLS]I still tell people that foreclosure is their solution, not their problem….
[/quote]I quote you regularly on this, by the way, both online and in face-to-face discusstions. It’s the truth.
March 11, 2009 at 11:09 AM in reply to: HLS update on 105% refi’s without mortgage insurance… #364577sdduuuude
Participant[quote=HLS]I still tell people that foreclosure is their solution, not their problem….
[/quote]I quote you regularly on this, by the way, both online and in face-to-face discusstions. It’s the truth.
sdduuuude
Participant[quote=SDEngineer]Certainly being on the gold standard wasn’t able to prevent the Great Depression, the bank runs in the early 1800’s, or any other historical serious depression/recession.
[/quote]If only the government would outlaw these things, they wouldn’t happen anymore.
-
AuthorPosts
