Sorry, you've made yourself look a fool. I can no longer take you seriously. "Modern day" economics is incompatible with the Gold Standard, not the other way around. Fractional-reserve banking is flawed along with a Fiat currency - a backed currency is not. I take it you know very little about economics. Don't assume that other forum members aren't educated. Besides, I don't even understand what your point is. Where did I claim that the Gold Standard was not ended in the 1930s? I'm well aware that the Gold Standard was partially blamed for the Great Depression, however if you know anything about history and economics, you also know that the Gold Standard had very little to do with the depression and, in fact, governmental intervention such as the confiscation of Gold by Roosevelt and other Hoover policies actually worsened the economic situation. Few people know that there was a smaller and much shorter-lived depression prior to 1929 - the reason for the quick recovery? No governmental intervention. How can you possibly claim that the Gold Standard is "out dated" when the current system causes inflation, 'boom & bust' phases, unresolvable debt (each dollar costs more than its value to produce) and allows monetary markets to be easily manipulated. Then again, you seem to be a supporter of Obama and the illusionary left-right paradigm so maybe I shouldn't be surprised to read you denounce the actual solution to serious problems such as today's depression.
Russia is calling for a return to the gold standard. http://engforum.pravda.ru/showthread.php?p=2776753
That's strange. I could have sworn I'd heard or read of Putin calling for a global currency, along with China, France, Iran, this wreck (England) and a few others. It would be good if they do return though. Maybe then a few others would follow suit.
You are correct. Russia is calling for the the inclusion of gold bullion in the basket-weighting of a new world currency.
China and Russia see the writing on the wall. Within 5 years the interest on the US national debt will be $847 billion per year. Not only does the US need to print money but the Fed needs to keep the rates low. Otherwise the interest payments and indexes pegged to inflation will kill both the dollar and federal budget.
I think the US should buy as much gold back as possible that the paper federal-reserve notes will permit, circulate gold certificates/dollars backed by this gold, wipe the silly debt, scrap the old currency and then plan a realistic budget. Come to think of it, I think this applies to all countries.
Did anyone every think for a moment that if we took the 3.76 TRILLION in additional spending that Dumbama has proposed and just paid down debt, that we might actually be on the road to real recovery? Why should Americans be the only ones to suffer here? Perhaps our government should do a little suffering too. We don't need this bullshit health care initiative. We don't need to give money away to banks and failed businesses like GM, etc.. We don't need global warming and green projects. We don't need more social spending. What we need to do is stop spending all together and start paying down debt. Do that and every other problem goes away.
You're going to see the Dow drop just as fast as it went up. We are in a bear market rally. The financial industry is a black hole and the IMF estimates that US banks will hold over 3 trillion dollars in toxic debts by the end of 2010.
Meanwhile CNN and other liberal fucktards are running polls and stories about Michelle Dumbama running for President in 2020. Is everyone on this fucking planet retarded? WTF?????
Must be. How else do you explain George W. Bush getting 2 (not 1) terms in office! I guess the voters were using the same drugs as George W. Bush. And, look at this great economy a drug-user like him has delivered to us.
You mean Bush didn't help the economy? I know. Bush destroyed it. Bush accomplished what Osama bin Laden wanted... a wrecked United States. I think we are in agreement.
I think it's great how you manage to turn words around to fit your narrow biased view. You just make your side look more retarded with nearly all of your posts.
PioneerGold, there's only one thing more annoying than a complaining neo-con, and that's a complaining neo-liberal. Alex Jones always said a day would come which would see people wanting Bush back, and it's starting to happen. The elite engineered the Bush administration to be appalling, and then put someone else in, on the "other side" to appear even worse. I hope a new age of Enlightenment, a new renaissance, will be upon us one day. A time when people finally get so damn sick of the same old crap escalating.. taxes after taxes, debt after debt, regulation after regulation, wars and wars and laws after laws. When Liberty becomes the sole and primary objective. When an administration will repeat "For the individual" instead of "change" or "war on terror". Maybe Ron Paul will bring this age upon us in 2012. I hope it's that soon. In the mean time, brace yourselves. Stock up on all the ammunition, weapons, food and water you can, 'cause the Obama brigade is a'comin' and they aint takin' no prisoners!
What happens if I'm not a neo-liberal (or liberal of any kind) and realize... Bush did what Al-Qaeda wanted to wreck the economy, destroy our children's future, kill our soldiers, and terrorize the American public? What if Bush realized the dream of the terrorists of a weakened and mocked United States, overstreteched military, and collapsed economy? If I didn't know any better, it seems like Bush did exactly what the extremists wanted. Obama may be no better, but it's clear what Bush did.
Completely ignore my post because you know I'm right. WAY TO GO! Just goes to prove my point even more.
Mr. PioneerGold on his high horse. Why contribute to ignorance and demonise drugs? That shows you're clutching at straws. If you claim you're not a neo-lib, then why are you defending Obama and criticising Bush so vigorously. Are you blind? Obama said he'd withdraw from Iraq. What has he done? Shuffle the troops from Iraq to Afghanistan. Obama said he wouldn't support the bailouts. What has he done? I think we all know... Obama swore an oath to defend the constitution. What has he done? Placed troops and check-points on the streets, along with empty yet operating FEMA camps and everyone knows his hatred of firearms. Obama said he wouldn't have any lobbyists in his cabinet, what has he done? Create one of which the majority are lobbyist. Obama wants free health-care for everyone; he wants to ban all semi-automatic firearms, if not all altogether; he wants further bailouts; he wants the draft via his Obama-youth-brigades; he does nothing while Patriots are demonised and arrested for driving around with pocket constitutions and Ron Paul/Chuck Baldwin stickers on their car; he wants to legalise all illegal-immigrants and have open borders; he wants to end freedom of speech with the revival of the 'fairness doctrine'; he wants to censor the internet. The list goes on.. and on... so while Bush may have raped your foreign policy, it looks like Obama is going to rape your economy and liberties. Wake up! It really is futile taking sides Pioneer, just think, "What would the founding Fathers do?". While they wouldn't have done many things Bush "did", they certainly wouldn't do what Obama has either.