Posted on 06/27/2016 1:50:10 PM PDT by Rusty0604
Not sure that matters. All you’re doing is fixing a standard value measurement to the dollar, like fixing a standard measurement to your scales at home. When you don’t change the standard measurement of your scales at home, you can rely on what’s its telling you about whether you’ve lost or gained weight. In the same way, when you don’t arbitrarily change the relative measurement of the dollar, you can rely on prices giving an accurate reading of value. Not sure you have to have the gold locked up somewhere. The only good that might do is possibly keep the value of the gold static I guess, but I don’t think it would. Even on the gold standard, the gold itself would change relative value, but its relative to the market and dollar prices are still reliable. Reliable prices, like reliable weight measurement, is the point of having an external standard like the gold standard.
Then there'd have to be an inventory of Fort Knox, and an explanation rendered of where it all went.
Another Elitist Jackass who is to blame for so many of our current problems. Greenspan helped usher in the easy credit and false growth we have had for the last years. Also it was his idea to bail out the Long Term Capital hedge fund back in the late 1990’s.
No Alan go crawl back under your rock with your wife, Andrea Mitchell, and stay there.
Not sure that matters. All you’re doing is fixing a standard value measurement to the dollar, like fixing a standard measurement to your scales at home. When you don’t change the standard measurement of your scales at home, you can rely on what’s its telling you about whether you’ve lost or gained weight. In the same way, when you don’t arbitrarily change the relative measurement of the dollar, you can rely on prices giving an accurate reading of value. Not sure you have to have the gold locked up somewhere. The only good that might do is possibly keep the value of the gold static I guess, but I don’t think it would. Even on the gold standard, the gold itself would change relative value, but its relative to the market and dollar prices are still reliable. Reliable prices, like reliable weight measurement, is the point of having an external standard like the gold standard.
Hey progs, newsflash: That was the original intent!
2harddrive wrote:"... like they now maintain that our Constitution is outmoded and ties the hands of “Progressive” government!
A veteran federal judge claimed that he sees “absolutely no value” for a judge to study the Constitution in a recent op-ed for Slate.
Richard Posner, a member of the U.S. Court of Appeals for the 7th Circuit and a senior lecturer at the University of Chicago Law School, wrote, “I see absolutely no value to a judge of spending decades, years, months, weeks, [days], hours, minutes, or seconds studying the Constitution, the history of its enactment, its amendments, and its implementation.”
--hat tip TheBlaze
Good explanation.
Sounds like a plan.
But speaking of crises, Greenspan warned that fundamentally it is not so much an issue of immigration, or even economics, but unsustainable welfare spending, or as Greenspan puts it, “entitlements.”
...
I wonder how long Greenspan would last in one of Europe’s Muslim no-go zones?
When you look at hat they *really* advocate, "progressive" governance isn't progress at all. What the heck is 'progressive' about "might makes right"?
Answer: Not a darned thing...
the infowarrior
Wow, sometimes these guys actually get something right. The gold standard would be so good for a stable strong dollar.
...
Day in and day out, the dollar is backed by our goods and services. There isn’t anything magical about gold either. 1920’s Germany restored confidence in their currency by backing it with real estate.
The real problem we have with the dollar is crooked politicians.
Ayn Rand, not Ann Rand.
Not just in Beverly Hills, but smack dab in the middle of Beverly Hills...
the infowarrior
Wait! Wasn’t this clown Chairman of the Fed for a hundred years? WTF was he doing?
If they try to cast the Constitution aside they may find that the people will tie something other than their hands.
IMO, everything is manipulated. The Globalists can pull the plug and take it down anytime they please.
They are really ticked at us Plebs now. Can you just hear them at their Global meetings?
“How dare those Brits vote Leave! We’ll show them!”
.
Most of our gold bearing lands are tied up in military reserves.
The crisis felt by Greenspan is that Trump will let the dollar devalue rather than continue to let China and others take all our jobs away.
BANKERS HATE THAT! It means the $Trillions in Debt they have laid on the American people would get paid back with cheaper dollars.
Trump’s tax plan will also ignite small business—FUNDED by EQUITY, NOT DEBT.
Again, less money for the money lenders. Less power.
To be fair, he’s been urging us to go back to the gold standard since the 1980s (and earlier, I think).
well, he’s no fool
obama has almost doubled the national debt (including off-budget agency debt at least)
it was already at a breaking point when he began
it does not look at all soluable..... without a FURTHER decrease in the dollar’s purchasing power
($5 burgers now $9.70, $2.75 shakes now $6.70, )
the American people keep getting screwed over and over again ,,,,
perhaps for starters the intrinsically worthless USD could be Partially pegged to gold or gold/silver or?, start with a minority backing and work up?
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