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Old March 17th, 2013, 05:37 PM   #21
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What are you talking about? Nationalizing the Fed? Yeah
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Old March 17th, 2013, 05:44 PM   #22
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What are you talking about? Nationalizing the Fed? Yeah
No, I am saying the FED should be ENDED.. no longer exist..
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Old March 17th, 2013, 06:43 PM   #23
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No, I am saying the FED should be ENDED.. no longer exist..
That's what nationalizing it does.
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Old March 17th, 2013, 07:10 PM   #24
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Imaginethat, if we did what you just stated about the oz of gold fluctuating with the amount of dollars floating around in our economy, THEN WHAT'S THE POINT OF HAVING IT? If the price and amount of gold doesn't matter, what is the point of having the gold standard if it means that the value of the currency can be manipulated or changed? It's a rhetorical question because we can inflate our own currency with or without the gold standard. And if the gold standard limits the amount that we can inflate then why not just limit that by law?

And it's not a stimulus. Going gold hunting (if we're not already doing it) is not going to bring the U.S. with about 115 million Americans out of work close to full employment. If anything the gold standard made it harder to stimulate the economy because the gold standard system can constrained the number of dollars we can produced by the number of gold that we have. Which is 1 of the main reasons why every nation abandoned the system. Abandon the system like how many nations abandon barter as a way of national exchange of goods.

And to make matter worse it doesn't prevent depression or recessions. And FYI, there's a difference between a depression and a recession. You even admitted to the fact that on and off the Gold Standard we the U.S. had depressions and recessions. Point taken. However, I just thought it was kind of ironic that we had zero depressions when we left the gold standard in 1971.

You also mentioned that gold is $1600 an ounce now compared to it being cheaper in the past. The price of gold is going up because it's just a change in that particular commodity. When you have libertarians and some conservatives going around saying that the currency will become worthless people's anxiety will drive them to purchase commodities like gold which will obviously drive up the price of gold. Then when people finally understand that the dollar will not collapse then the price of the commodity will drive down. The U.S. government being the issuer of our currency don't have to worry about borrowing from other countries (although I understand that we sometimes do). We create our own currency so we can buy anything that's denominated in dollars. What really constrains us is not the amount of dollars that we have, but the amount of resources that we have.

And the Fed OH BOY THE FED. Again, we should not have private hands manipulating the currency, we should nationalize that power to the treasury department. If had happen then we wouldn't see almost $30 trillion being printed and disappearing around the world. The Fed isn't the cause of our recessions and depression. The cause is with our politicians promoting legislation that reduce demand, increase hot money, and the deregulating our financial sector.

Happy SPD. Hopefully I'm lucky enough that you will agree with me so I can just create the next thread.
Gold does not fluctuate to any relevant degree. The price of gold was virtually unchanged until the 1970s. The most dramatic increase in the price of gold was under Obama, and I wonder why that is? That is the point in having it.

It is ironic that Harding, operating under the gold standard, cut spending and taxes which led to the deficit dropping by a third, and pulled the country out of a depression without spending. This is what Sweden and Germany just accomplished.
The primary reason the gold standard was abandoned is because England, which was the banking center of the world, abandoned it after WWI, and it was not to stimulate their economy. It was about international trade.
The worst depression this country has had was after FDR abandoned the gold standard. That is not quite how you define “we had zero depressions when we left the gold standard in 1971.” FDR took us off the gold standard in 1933, and the depression lasted until 1945—twelve years.

The price of gold is going up because of Obama. It is uncertainty that affects a commodity such as gold. There is zero understanding that the dollar will not collapse. I am not sure you quite understand how our economy and the Federal Reserve works if you believe that we do not borrow from other countries.

The rest was unintelligible to me, I didn't understand any of it.
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Old March 17th, 2013, 07:11 PM   #25
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That's what nationalizing it does.
Ending means ending, such as what Jackson did.
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Old March 17th, 2013, 07:19 PM   #26
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That's what nationalizing it does.
No if I nationalize the Oil Companies... it does not end them, they become incorporated into government control.


If I shut down the oil companies they no longer exist.

THERE IS A DIFFERENCE..

For example. GM was nationalized, Crysler was nationalized then sold to an ITALIAN auto company.

So there are only 2 US automakers. 1 is owned by the Treasury Department (until the Treasury sells the Stocks that it owns). The other is a Private Company known as Ford.

The other is now an Italian auto company.
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Old March 17th, 2013, 07:21 PM   #27
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This is nationalization being proposed.

Maxine Waters Wants To "Socialize" Oil Companies - YouTube


If you listen people will tell you who they really are... WHEN THEY DO YOU NEED TO BELEIVE THEM.
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Old March 17th, 2013, 08:44 PM   #28
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Originally Posted by Fayt View Post
Imaginethat, if we did what you just stated about the oz of gold fluctuating with the amount of dollars floating around in our economy, THEN WHAT'S THE POINT OF HAVING IT? If the price and amount of gold doesn't matter, what is the point of having the gold standard if it means that the value of the currency can be manipulated or changed? It's a rhetorical question because we can inflate our own currency with or without the gold standard. And if the gold standard limits the amount that we can inflate then why not just limit that by law?

And it's not a stimulus. Going gold hunting (if we're not already doing it) is not going to bring the U.S. with about 115 million Americans out of work close to full employment. If anything the gold standard made it harder to stimulate the economy because the gold standard system can constrained the number of dollars we can produced by the number of gold that we have. Which is 1 of the main reasons why every nation abandoned the system. Abandon the system like how many nations abandon barter as a way of national exchange of goods.

And to make matter worse it doesn't prevent depression or recessions. And FYI, there's a difference between a depression and a recession. You even admitted to the fact that on and off the Gold Standard we the U.S. had depressions and recessions. Point taken. However, I just thought it was kind of ironic that we had zero depressions when we left the gold standard in 1971.

You also mentioned that gold is $1600 an ounce now compared to it being cheaper in the past. The price of gold is going up because it's just a change in that particular commodity. When you have libertarians and some conservatives going around saying that the currency will become worthless people's anxiety will drive them to purchase commodities like gold which will obviously drive up the price of gold. Then when people finally understand that the dollar will not collapse then the price of the commodity will drive down. The U.S. government being the issuer of our currency don't have to worry about borrowing from other countries (although I understand that we sometimes do). We create our own currency so we can buy anything that's denominated in dollars. What really constrains us is not the amount of dollars that we have, but the amount of resources that we have.

And the Fed OH BOY THE FED. Again, we should not have private hands manipulating the currency, we should nationalize that power to the treasury department. If had happen then we wouldn't see almost $30 trillion being printed and disappearing around the world. The Fed isn't the cause of our recessions and depression. The cause is with our politicians promoting legislation that reduce demand, increase hot money, and the deregulating our financial sector.

Happy SPD. Hopefully I'm lucky enough that you will agree with me so I can just create the next thread.
You cherry picked to respond Fayt. You didn't address your role as a slave to make good the full faith and credit of the United States.

What's the point of having gold? You tell me why all the central banks hold gold, OK? Tell me why foreign nations have gold deposited with the New York Federal Reserve. Tell me this: Why is the US government's gold shown as an asset on the Federal Reserve's balance sheet? I mean, hell, it's just gold. Why does anyone make any kind of a big deal over it????

Why not limit how much our currency can be inflated by law? I posted you the reserve requirements in my last post. That's the law limiting how much the currency can be inflated, and the inflation of the currency by our government's debts pales indeed compared to the amount bankers and the creators of derivatives can inflate the currency. See, here's the plan.

Keep the people occupied, with their eyes off the banking and investment community. Keep them thinking, believing, it's the D's or R's fault, the D's or R's are spending/not spending or taxing/not taxing enough. Those damned Ds or Rs, depending on what side you're on.

How nice. We haven't had a depression since 1971. We had a $398 billion national debt in 1971. We were worried that unemployment, and this is a true unemployment figure as just about every WAS looking for a job, peaked at 6.1 percent.

Now, 42 years later, our national debt has increased more than 40 times to $16,000,000,000,000-plus. And the currency supply has been inflated far, far beyond population growth.



And this currency inflation has not been limited to the US.



But we haven't had a depression!!!!

Anyway, maybe you can clear up why nations and banks continue to hold gold, and why even the silver in our coins has been removed.
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Old March 18th, 2013, 07:36 PM   #29
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Sorry I'll respond tomorrow. I have things to do , but in short I'm right and you're wrong
Thanks from imaginethat
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Old March 18th, 2013, 08:17 PM   #30
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IT you lose because a winner was just self-declared after a couple of posts of incorrect information.
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