? No alternative is better this point, it isnt gold peg, or austrian or anything...peope who complain have a myopic view and limited understanding of the big picture
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"For good reason" As the world's banks fail to control fiat currency... lol?
Some people hold to the stagflation a few decades ago as a prove that keynesian economics are false. Albeit, it did prove that it wasn't concrete on a single point, and from that era we have seen a change in perspective... Currently we experience in the US an 8 yr reverse of that perspective back to keynesian with stimulus and bailouts that imho would make even Keynes shudder.
I'm not Austrian. And Gold Standard isn't exclusive to Austrian thought.
Keynesian has proven false? Really? How so? Im not a fan persay but I know its better than any alternative thus far
The real question is: has Austrian economics been proven false like Keynesian economics?
Austrian Economics has never been proven, anywhere, its nonsense created in a lab
and isnt any longer for good reason... you are copy pasting the same giberish
Any US dime, quarter, 1/2 dollar, dollar that is dated 1964 and before is made out of silver and is worth around 20x face value. Why? Because our currency has always been backed up by precious metals. This is now gone away because of the FED printing excess amount of money and so the US Dollar has plummeted nearly 90% because the banks stopped backing the dollar with gold/ silver. You need to think outside of the box. Gold & Silver have been used as currency for centuries.
You are absolutely SPOT ON.
One thing could be added....
When they print money out of thin air (or increase it electronically) for a loan, they only print the principle balance of that loan. Not the interest along with it.
So if in theory, everyone wanted to pay back their debt at one time, it would be impossible because all of the money necessary to re-pay the debts does not exist.
Woodrow Wilson fucked us all in 1913 on Jeckyl Island
Gold standard simply locks inflation down to a specific range, being harder to tamper with asset values. It is a long term solution, as most Austrian thought really is.
Yes, because switching to the gold standard is going to solve ALL of our economic problems. (what Ronnie believes)
haha bernake looks like an idiot at the end when Ron Paul talks about money. guess bernake didnt read the constitution
"Credit's initial value from principal is a fraction of it's future equity"
What future equity? The future equity could be zero when the business closes down. Credit is not based on future anything or we'd all be issuing credit out of our ass. Credit comes from savings. Quit making up BS.
"How does a banker "earn" his risk on YOU buying a home"
Better yet, where does the banker "earn" his credit to "lend" me money to buy a home.
YOu misunderstood, he said whats the difference in the US printing their own currency rather than debt currency to the Fed. I said theres a big difference
I actually agree with a lot of what Ron Paul says. Just fuckin' with you,man !
Oh Ron ? My bad !!
The constitution specifically says that the federal government has power to coin money, and it does not give it power to print paper money.
And because of the tenth amendment, if the constitution doesn't specifically give the fed. government the power to do it, they can't do it.
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