Posted on 04/20/2016 10:58:52 AM PDT by jazusamo
This is patronage job or she is having sex with a higher up
Moronic obamabot.
What he’s saying is that gold is a hedge against inflation, but it is not a determinant of monetary policy and in no way constricts or otherwise regulates the supply of money...never has, even if you go back to the days of Hamilton. The gold standard simply means that you can exchange dollars for physical gold; it was never tied to M1. Nixon simply said that the gov’t was no longer required to exchange gold or silver for dollars. Indeed, the gov’t has nothing to do with monetary policy. You do realize that “deficit spending” is part of fiscal policy, not monetary policy, don’t you?
$69K to $94K in 10 years. How does that compare with the average non-government employee’s salary increase from 2004 to 2014?
GS-12 Step 1 for Philly is $75,900. Step 10 is $98,669. Source: https://www.opm.gov/policy-data-oversight/pay-leave/salaries-wages/salary-tables/pdf/2016/PHL.pdf
If you start as a 12, and stay as a 12, it would take you 18 years to go from GS-12 Step 1, to GS-12 Step 10. Source: https://www.opm.gov/policy-data-oversight/pay-leave/pay-administration/fact-sheets/within-grade-increases
Also, I forgot to factor in any possible overtime.
Let me ask you - Do you also believe gold is a reliable long-term hedge against inflation?
If so - why?
Not really, for two main reasons. First, its price can bounce all over the map. I know one person who bought into the inflation hedge idea and bought at slightly over $1900/oz. Currently, it’s around $1250. Second, it’s a sterile asset. That is, not only does in not generate income while you hold it, it can cost money to insure and store it. I prefer tangible assets that generate income at the same time. I have raw land that I rent to farmers. The income covers all costs and then some. I’ll also likely see a capital gain when I sell, too.
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