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Very Hot Topic (More than 25 Replies) Why? (Read 1,501 times)
The Original Wally
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Re: Why?
Reply #40 - Jul 17th, 2017 at 1:29pm
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Possumpoint wrote on Apr 27th, 2017 at 8:25pm:
On average, Russia, China, and India have been buying the world's production of Gold. There are months where their acquisitions exceed production and that means they are drawing down some of the Western Countries holdings. This has been occurring over a number of years.

The United States holds about 8100 tons of gold as officially reported. That amount has remained static for a period of time. However, that amount becomes suspect when you hear that Germany has lent the US their holdings and on requesting that it be returned, we said we'd ship it back over 7 years.

Why does it make sense that we are printing paper when others are acquiring gold? It is my opinion that debt and the balloons that exist in various aspects of our economy will cause the self-destruction of this economic system.

I AGREE WITH YOU.  Obama in collusion with the FED have created a gigantic bubble with quantitative easing (the FED printing money backed only with I.O.U's to the Treasury).  Many nation's economies are dependent upon the stability of the U.S. dollar.

Unless we have a growth explosion, the course of our economy has be set towards failure by the excessive spending of the last eight years!   One might argue that the Marxists have intentionally set the stage for the collapse of western economies via the Cloward - Piven Strategy for strategic CHANGE through orchestrated crisis.  Whether by design or mere coincidence the result may be the same and the Marxists will be there to condemn capitalism for the problems they themselves helped to create!
  

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Re: Why?
Reply #41 - Jul 17th, 2017 at 2:09pm
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Possumpoint wrote on Jul 16th, 2017 at 7:38pm:
Where did you get this nonsense of the US Dollar isn't a fiat currency?


First of all, you never know who you're talking to on the Internet. It might do you some good to remember that.

The US Dollar isn't Fiat Currency. Fiat Currency is issued by a central authority and isn't subject to market forces. The US Dollar on the other hand is subject to market forces. We carry dollars around so we don't have to carry chickens, pies, auto parts, labor...whatever else we have to offer around. The Dollar is just a placeholder for economic activity.

I get it, you're a nutjob who doesn't know jack about economics. I won't bother you anymore, have fun in your conspiracy forum.
  
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TowardLiberty
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Re: Why?
Reply #42 - Jul 17th, 2017 at 4:19pm
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michiganFats wrote on Jul 17th, 2017 at 2:09pm:
The US Dollar isn't Fiat Currency. Fiat Currency is issued by a central authority and isn't subject to market forces.

It's that last part you are mistaken on.

There is no such thing as a form of money that is not subject to market forces.
  

"Practical men, who believe themselves to be quite exempt from any intellectual influences, are usually the slaves of some defunct economist." J M Keynes

"In the first place, the dichotomy between "theoretical" and "practical" is a false one. In economics, all arguments are theoretical. And, since economics discusses the real world, these theoretical arguments are by their nature "practical" ones as well." M Rothbard
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Re: Why?
Reply #43 - Jul 17th, 2017 at 4:27pm
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Quote:
Definition of fiat money
:  money (such as paper currency) not convertible into coin or specie of equivalent value
https://www.merriam-webster.com/dictionary/fiat%20money

Nothing there about it not being "subject to market forces."

I've made the economics of money and inflation a minor fascination in my life and I have never encountered the idea that fiat money is not subject to market forces. Quite the contrary most discussion around the idea of fiat money surrounds price inflation - a market process consequence.

Indeed any form of money which actually circulates as a medium of exchange is going to be subject to market forces.
« Last Edit: Jul 17th, 2017 at 7:09pm by TowardLiberty »  

"Practical men, who believe themselves to be quite exempt from any intellectual influences, are usually the slaves of some defunct economist." J M Keynes

"In the first place, the dichotomy between "theoretical" and "practical" is a false one. In economics, all arguments are theoretical. And, since economics discusses the real world, these theoretical arguments are by their nature "practical" ones as well." M Rothbard
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Possumpoint
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Re: Why?
Reply #44 - Jul 27th, 2017 at 8:47pm
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michiganFats wrote on Jul 17th, 2017 at 2:09pm:
First of all, you never know who you're talking to on the Internet. It might do you some good to remember that.

The US Dollar isn't Fiat Currency. Fiat Currency is issued by a central authority and isn't subject to market forces. The US Dollar on the other hand is subject to market forces. We carry dollars around so we don't have to carry chickens, pies, auto parts, labor...whatever else we have to offer around. The Dollar is just a placeholder for economic activity.

I get it, you're a nutjob who doesn't know jack about economics. I won't bother you anymore, have fun in your conspiracy forum.


You're right, I don't know who you are and in all honesty I don't care. However, when you cite a fallacy I'll tell you.

The US dollar is fiat money since it is not backed by a commodity. It is backed by a promise and derives its value on the strength of the US Government. Once investors fully realize that we simply cannot pay back the debts the money will achieve its real value, nothing.
  

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TowardLiberty
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Re: Why?
Reply #45 - Sep 3rd, 2017 at 4:21pm
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michiganFats wrote on Jul 17th, 2017 at 2:09pm:
First of all, you never know who you're talking to on the Internet. It might do you some good to remember that.

The US Dollar isn't Fiat Currency. Fiat Currency is issued by a central authority and isn't subject to market forces. The US Dollar on the other hand is subject to market forces.
We carry dollars around so we don't have to carry chickens, pies, auto parts, labor...whatever else we have to offer around. The Dollar is just a placeholder for economic activity.

I get it, you're a nutjob who doesn't know jack about economics. I won't bother you anymore, have fun in your conspiracy forum.


Still waiting to hear about this peculiar form of money that "isn't subject to market forces."

Should be easy to clear up for an economics expert such as yourself..
  

"Practical men, who believe themselves to be quite exempt from any intellectual influences, are usually the slaves of some defunct economist." J M Keynes

"In the first place, the dichotomy between "theoretical" and "practical" is a false one. In economics, all arguments are theoretical. And, since economics discusses the real world, these theoretical arguments are by their nature "practical" ones as well." M Rothbard
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