I kept hoping that would be the case over the past few elections, but nope (see my tagline).
Meanwhile, many would just LOVE to continue this path...
Posted on 12/11/2008 6:17:52 PM PST by rabscuttle385
Just wait until the $8 trillion dollars of unconstitutional bailouts are monetized.
“In the 20s (I believe), we went off the gold standard.”
Partially in 1933 under Roosevelt. Completely in 1971 under Nixon.
“Today, the dollar is worth only what Congress says it is “
Congress hasn’t got the ability to set the value of the dollar. Markets get the last word.
ITs too bad ron paul was wrong on foreign policy...
but he could have done wonders for us fiscally...
mccain should have made him vp
No, actually, Paul's non-interventionist foreign policy actually makes quite a bit of sense. After all, the U.S. is not supposed to be the world's policeman, and while we should "walk softly and carry a big stick," that doesn't mean that we should hit hornet nests with that "big stick" on a whim.
but he could have done wonders for us fiscally...
Possibly.
mccain should have made him vp
Um, no. That would be plain wrong. Plus, such a move would require a total sacrifice of his principles.
It’s too bad the American people are so dead-set on destroying this country.
I kept hoping that would be the case over the past few elections, but nope (see my tagline).
Meanwhile, many would just LOVE to continue this path...
***mccain should have made him vp***
Paul was on record as saying that he couldn’t be McCain’s VP because the 2 just disagreed on too many issues, mainly foreign policy.
Oh that's genius. Well if gas is cheaper than it was a few years ago...it's basically the same logic displayed in that McDonald's commercial where they say the economy is running smooth because you can still get a cheeseburger there for a buck. But you know, those same burgers that are now cost one dollar used to cost a quarter.
Lots of conflicting calls RE: the Dollar.
Jack Crooks expects a near-term rise in the Euro vs the Dollar, but long term the reverse. Marty Weiss is openly and notoriously declaring deflation has set in, but I don't see it in the prices of precious metals, which are approximately where they were one year ago.
If Paulsen gets his way with Detroit, I expect rampant inflation, since it is plain that no wealth whatsoever exists in the Federal treasury, and the rumblings for tax hikes from Obummer have run all venture capital out of onshore / Dollar investments.
We do know that when the Trib begins, the Dollar will be in the toilet completely.
Its too bad that the American people don't have sufficient gray cells to even contemplate what they are doing to this country.
No, the Dollar, like all fiat instruments, is worth whatever those that hold assets with intrinsic value think its worth.
Right. That's what I said.
When we went off the silver standard, Congress floated the value of the dollar on the basis of GNP. Ergo, the value is based on whatever Congress says it is.
Prior to ending the silver standard, the dollar was printed with the following words “Silver Certificate”. When we abandoned the silver standard, those words were removed from the dollar bills.
But that isn't what you said, you said
"Today, the dollar is worth only what Congress says it is"
Congress has nothing to say as to the market value of anything.
The value of the dollar is established by Congress which declared that its value would be based upon the GNP. There is no single market force that creates the GNP; but GNP is the creation of the entire US. Although each entity contributing to GNP sets the value of its own product, Congress uses the entire sum of the GNP to establish the value of the dollar.
No, absolutely not! - Nothing could be further from the truth. The value of the dollar is established minute by minute by those that trade in currencies, and Gold.
No government can set the value of anything.
We went off the gold standard, courtesy of Nixon, in 1971. Which put the value of the dollar in the hands of the currency markets. Congress has a much say in setting the value of the dollar as they do in commanding the tides.
Ron is not completely nuts. This is absolutely true. Only I would change "will" to "have".
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