What Republicans do

[Galen]

(06-03-2017, 08:37 AM)pbrower2a Wrote:

(06-03-2017, 12:40 AM)Galen Wrote:

(06-02-2017, 10:38 PM)pbrower2a Wrote:

(06-02-2017, 05:56 PM)Odin Wrote:

(06-01-2017, 03:52 AM)Galen Wrote: As usual your knowledge of history is as faulty as your understanding of economics.  One of the biggest signs that your empire is going down is ever increasing debt and monetary debasement.  The US has been doing this since at least 1971 but some would argue since 1913.   Another good sign that your empire is going down is a never ending string of wars. 

Now for the dollar.

You will no doubt entirely miss the point as usual.

That you think precious metals are still somehow relevant to the monetary system you are both showing your ignorance AND that one-track mind of yours.

Gold is simply scarce and desirable.

This is one of the reasons it is a good medium of exchange.  Gold does have many industrial uses but not as many as silver does.  Both have been used as money for thousands of years and without legal tender laws and government force they probably will be again.

As usual the two of you completely miss the point.  Empires that are on the decline tend to have huge debt loads and they deliberately debase their currency in order to help cover the bills.  It looks like the US is going the way of every other empire and you, like most of the citizens of those prior empires, are completely clueless about what his happening around you.

A gold standard would require a hyper-deflation that would result in a depression as severe as that of the Great Depression. But gold is so expensive ($1276 per ounce) that it would be unsuitable for many transactions. Gold has been as expensive as $1889 an ounce in 2011 and as inexpensive as $252 in 2000.

You are missing the point as usual.  I was using the price of gold as a way to show that the purchasing power of currencies issued by declining empires tend to go down.  Apparently you can not grasp the possibility that you are living in such an empire.  That is what I have come to expect from Boomers, an unfailing ability to ignore the obvious.

The fact that gold prices only tend to increase in terms of dollars over the long term should be a huge clue that the dollar is intentionally being debased which is what declining empires do without fail.