DOLLAR VS GOLD STANDARD

[ryuson2000]

so that's why mister burns thinks it only costs a nickel for a roller coaster ride and snacks?

[bernie23232323232323]

The gold standard just makes the rich stay rich. The poor are constantly spending the money they earn, so their money doesn't lose any value over time because they don't have it for long periods of time. When you don't have the gold standard, it forces the rich to invest in businesses to get returns on their money thus stimulating the economy by creating businesses.

The gold standard would destroy potential busineses, and make rich people stay rich and poor people stay poor.

[EliteKiller07]

@bernie23232323232323

It doesn't matter if poor people spend the money they earn; inflation hits essential goods and services first, and wages lag behind. So food and fuel prices go up before wages can match it. Also, EVERYONE saves, including poor people. They save for their retirement, and unless they put their savings in assets, it is inflated away. $10,000 saved in 1990 is now worth $5900.

You're making baseless assumptions; we went though the industrial revolution on a gold standard.

[Msteinebach92]

Most Americans think that everything will be just fine as long as we keep printing money. Well pretty soon (very soon) some other currency is going to be worth more than the US dollar, and the world will use that currency as the standard. Once that happens your dollar is going to be basically worthless. America will have to buy oil in this new currency at a huge loss when it's converted from dollars to the new currency. Taxes will rise drastically and hyper inflation will begin.

[Thewizzardof9]

@Msteinebach92 That would be wonderful, I ope it is soon. The dollar is way too strong, if what you predict is correct people will stop buying imported goods because they would be too expensive, the demand for our goods would skyrocket because our goods would be so cheap. and most important we would start drilling for our own oil. taxes would not matter because we would all be making so much more money with the inflation.

[Msteinebach92]

@Thewizzardof9 I think it would be a while before any of that stuff would happen. We basically rely on foreign oil at the moment for our economy to fuction at all. I'm thinking that we would be set into a depression for a long time because of the way our economy is so dependant on importing everything from China and the Middle East. After a while though we would be forced into becoming self reliant again. I would much rather avoid a depression though and just get rid of the fed.

[Thewizzardof9]

@Msteinebach92 At the end of the day all dollars must be spent in the U.S., foreign investors are spending money investing in U.S. bonds instead of our goods and services. this is because congress keeps creating debt. congress requires all banks to back their fractional reserves with bonds, so for every bond printed a bank loans out 7-9 times the amount. it is funny that congressmen that are the root of the problem, are saying its all the feds fault.

[Thewizzardof9]

you presentation is totally untrue. It borders on pure B.S., you should do some research and stop using faux knowledge.

[werdnanivrag]

@Thewizzardof9 please educate us

[Thewizzardof9]

@werdnanivrag to start with the price of gold was fixed and regulated by congress. it was not a freely traded commodity until 1971. he stopped short of telling you the dollar was devalued again in 1935 to 35 dollars an ounce, and regulated art that price until 1971. the value of gold today has no relation to the value of the dollar, this is because gold is a vanity metal and has no use in industry or production. he continues with more BS

[werdnanivrag]

@Thewizzardof9 well get ready its coming. If it's not that its some NWO currency or Amero because we are printing ourselves into oblivion rt.com/usa/news/steve-forbes-n­ew-gold-standard/

[Thewizzardof9]

@werdnanivrag It is not so easy. Money is based on confidence. as a medium of exchange i have to have faith that i can spend the money you give me for my goods. they may try to introduce a new currency the question is who would accept it? I would not accept it because i am not sure anyone else would accept it. the value of money is not important, what is important is we use money to value every thing we do or buy. Americans are not very accepting look at the metric system.

[werdnanivrag]

@Thewizzardof9 gold has been trusted far longer than the us dollar, something like 5,000 years. trust in our paper currency is failing rapidly on the world market. It's failing because we are printing to much out of thin air and it is that easy

[werdnanivrag]

@Thewizzardof9 also gold is the most conductive metal and is highly prized in the electronics industry. It also acts as a solar shield. I'm not sure i understand your bias?

[Thewizzardof9]

@werdnanivrag Gold is not very conductive. its properties are good because it does not tarnish or rust so it is a good connector. My point was in a real economic collapse gold has no value. no one accepts gold as payment and no one can make change. in a real collapse are you going to want a new ring for your spouse or food, tools, energy, and shelter. I want tangible goods not a shiny object to stare at while I die of starvation.

[jessemaurais]

Inflation is not bad as long as your income increases in proportion and your savings are not in dollars. But reinstate the gold standard, which pins the money supply to the gold supply, and as your population increases you have de facto deflation--a deficiency of currency to meet financial obligations.

Try convincing your employees to take a pay cut on the grounds that their real wage has increased even though their price wage has remained constant. The friction of deflation is *much* worse.

[tehatemachine]

@jessemaurais "Inflation is not bad as long as your income increases in proportion and your savings are not in dollars" Artificial inflation IS a form of taxation. You are being taxed without even realizing it.

[Gauthinours]

@jessemaurais everybody wants lower prices and cheap items ... so everybody wants deflation

[AllenJeffreyGurfel]

@Gauthinours But deflation is bad.

[Gauthinours]

@AllenJeffreyGurfel No it's not. Lower prices means an effective economy. Keynsians think that inflation is good because it props up the GDP numbers, but they forget that deflation does to because with lower prices corresponds higher demand thus high economic activity. And if you can choose between higher prices or lower prices I would assume you prefer the latter. Additionally, inflation, which occurs through money expansion, erodes your purchasing power and wipes out the value of your savings.

[AllenJeffreyGurfel]

@Gauthinours P1) Equilibrium prices mean an effective economy. In deflationary circumstances people see their dollar rising in value and on the large scale choose not to spend, because holding cash pays positive interest. Debt burdens increase in real terms. For those that continue to repay loans, they are hurt. The creditors that receive payment don't lend out. Less spending and fewer loans lead to contraction, recession, and often further deflation.

[AllenJeffreyGurfel]

@Gauthinours P2) Also, with deflation come either wage cuts, and/or unemployment, which also hurt spending and fuel a downward cycle into recession. This is a logical theory which has been empirically observed many times. Take an economics course, or do some research.

[Gauthinours]

@AllenJeffreyGurfel Let's stop here ... too much nonsense. I took economics courses for 4 years and realised it was just bullshit. Just listen to Peter Schiff. You will learn real economics. I hope that when his predictions will materialize you will convert yourself to Austrian economics and ask for forgiveness ;)

[AllenJeffreyGurfel]

@Gauthinours Peter Schiff? Austrians? Cause they've been right about everything, of course. Like the massive inflation we're experiencing? Oh wait, that didn't happen. And the historical trend of deflation making everyone so very happy? Oh wait, that hasn't happened either. Looks like you wasted four years.

[Gauthinours]

@AllenJeffreyGurfel First of all, the actual inflation you are experiencing was caused by the FED's printing press (Greenspan and Bernanke). Are you ignorant? We almost never had Austrian economics, maybe in the 19th century. It seems you know really nothing.

Yes, I lost 4 years in economic knowledge but my degree helped me to get a job. And with that Peter Schiff educated me in 2 months. You lost 4 years as well ;) 

[AllenJeffreyGurfel]

@Gauthinours I didn't say we've had Austrian economics. I said that Austrians predicted hyperinflation and we have none. The inflation we're experiencing? The inflation rate is fine. The "printing" of money hasn't caused any higher average inflation than we've been experiencing for decades prior to the alleged "printing". Second, the Fed doesn't print currency, you moron. The actual supply of currency has not shot through the roof.

[Gauthinours]

@AllenJeffreyGurfel They predicted hyperinflation...and hasn't come YET. Give it some time! The "official" rate is fine, because the CPU index doesn't include oil & food! From a gold perspective prices are falling, even oil! But not in terms of USD. USD has lost 97% of its value since 1913. Bernanke is "digitally" printing money out of style! How does he do that? Just by depositing fresh money on accounts of big banks who loan that money. And with the money multiplier this gets even worse. Fool!

[AllenJeffreyGurfel]

@Gauthinours I guess we'll jut have to wait and see how it all turns out.

[AllenJeffreyGurfel]

@Gauthinours Also, I assume you're talking about all the "printing" since the economic meltdown, bank bailouts, and stimulus packages. That was all under Bernanke, who has been in office since '05.

[mihirgadre]

@jessemaurais "a deficiency of currency to meet financial obligations." this has always been the *comeback* of central bankers. Due to efficiency improvements the prices of goods and services would also come down & in that case people wouldn't mind a wage cut

[goldisliberty]

@VileredStar Pegging is quite plausible as a currency unit can be marked at any amount of troy grains up or down as the need dictates, regardless of the actual supply of gold and it would be no less fictitious than current fiat valuations, fractional reserve would still be possible also, but would be limited, which would stymie the ability to trade derivatives from insanely leveraged positions especialy since the repeal of Glass–Steagall

[goldisliberty]

@VileRedStar Pegging is quite plausible as a currency unit can be marked at any amount of troy grains up or down as the need dictates, regardless of the actual supply of gold and it would be no less fictitious than current fiat valuations, fractional reserve would still be possible also, but would be limited, which would stymie the ability to trade derivatives from insanely leveraged positions especialy since the repeal of Glass–Steagall

[goldisliberty]

@VileRedStar When I say masses I mean demos, people, as used in the word democracy. Yes in your country money supply is controlled by the third central bank, the fed, and as with all central banks they act in the interests of their shareholders, being large finance conglomerates who gain regardless which way the real economy goes, as the value of their product, money, is backed by taxpayers.

[VileRedStar]

@goldisliberty how does moving to the gold standard help the masses? the fed would still be able to control the money supply and peg it to their desire because pegging is possible right?

[goldisliberty]

@VileRedStar There is some merit in your arguement, but there are some points you should consider. Elected governments do not entirely control the issue and value of fiat money, banks, traders, speculators etc have tremendous influence, and they do not act in the interests of the masses. Also if a currency was pegged to gold a government could in theory control the peg ratio of its currency, thus being able to inflate or deflate supply to a degree

[VileRedStar]

@goldisliberty what exactly do you mean that they do not act in the interest of the "masses". money supply is controlled by the fed and they were created to create effective monetary policies. in economy if one group of people get hurt than all of them do through the butterfly effect. if consumers are hurt than inevitably so are the producers. Also pegging is virtually impossible and if it was possible than you could only deflate the currency and inflate it only if you found another gold mine.

[VileRedStar]

..... gold standard means that we cannot control our currency. our currency will be solely based on the amount of gold that exist and at any given time and with out having any control on our money supply we can not make effective monetary policies. there is a reason why no country follows the gold standard because its just not efficient. Bernardo plz do some research before you spew your nonsense. When Churchill installed the gold standard, Britain was screwed. he even said it was a big mistak

[39sumer3939]

@VileRedStar they took away our gold standard because of our failed system watch milton freeman the gold standard

[caseybv74]

So what do you do if you want to put more money into the economy?

[tadhg964]

@caseybv74 what your really asking is "what would happen if we "NEED" to put more gold into the economy?" answer: DEFLATION, the value of gold will rise, which mean the 10 gold standard dollars you have would increase in value. In every day life we would begin to trade in smaller and smaller increments. But remember "money" doesnt mean shit (unless its backed by a gold standard) you cant just print gold, its a finite material, this is a good thing, this is why its price is historically stable.

[caseybv74]

@tadhg964 You do know that in time of deflation your wages go down as well? Also there is a decrease in demand because people want to wait to spend there money if they believe prices will fall. A decrease in demand also causes a decrease in output which causes unemployment which in turn decreases demand. There's a reason economist say deflation causes depressions. Also gold is just a pretty rock there really isn't much a difference than fiat money. 

[Andydag904]

@tadhg964 uh, The great Depression was a deflation, you know that right?

[vaw32]

Your right we need to go back to the gold standard

[SSTTEEAALLTTHH]

@vaw32

Churchill tried that in the 1920's. It was catastrophic. He later regretted it as 'the greatest mistake of his life'. Franctional reserve banking must end, but the gold standard is no alternative.

[vaw32]

@SSTTEEAALLTTHH

If look look at history You will see that the founding had set up the gold standard.

That is what I am talking about!

[SSTTEEAALLTTHH]

@vaw32

Yes, I know that where we came from, but I'm saying more recent history has proven it's a bad idea to try and revert our currency back to that. Why isn't that being addressed?

[vaw32]

@SSTTEEAALLTTHH

OK, that is OK but we need to end the FED.

SO your so smart, What do you recommend.

[MrNikolaevich88]

@vaw32 vote for Ron Paul!!!!!!!!!!!!!!!!!!!!!1

[Sylinic]

@MrNikolaevich88 RP2012!

[hsmarlon]

This is a very good video. Here in St. Louis, MO 97.1 The Dave Glover radio show had a guess on their show named Dr. Leach and he said the same thing that you are talking about. GOOD POST!!!

[riverstrat]

Is it possible to reinstate the Gold Standard ?

[riverstrat]

The part about it being (inflation) a tax on us as citizens brings the question to my mind:

If in fact we can view it as a tax , is there a benefit derived by the government on the backs of that 'tax' .

As we continue to print money don't we create a flood in the international market to a saturation point that if everyone holding the dollar would buy something in America we'd all be rich.... ok I just made that up...:)

[SJism23]

Can someone explain to me what it means when one says that "money has no value, It's a representation of value"?

What value is the money representing?

Thanks for answering anyone.

[cevapci87]

@SJism23 It means that money as a bill or a coin has not the value that represents it. Let's say you got a 100$ bill: this bill is made with paper and ink. So this 100$ bill really is about 1 on 2 cents worth.

And since there is no goldstandard, the broad money grows faster than the economy. This means, that there is not a real worth behind every dollar. It's an uncoupled situation between money and real economy.

[SJism23]

@cevapci87

I heard somewhere that it doesn't matter what the money is backed up by, it matters who controls it.

[LiekABaus]

@SJism23 thats right, currency is only a medium to support trade for goods you actually want (why would anyone want a lump of metal that serves no actual purpose). With paper money, we control our money.

[dan7212]

@LiekABaus

gold is largely used in jewelery, medicine, industry, electronics and chemistry.

[LiekABaus]

@cevapci87 gold is only a perceived value as well, it has very little actual function (it is used in very small amounts in electronics)

If we are both starving to death, and you have 2 tons of gold, and i have 2 cans of spam. My 2 cans of spam is worth more than your gold... because gold has no actual functional value, whereas my spam has actual functional value.

Gold is a largely useless metal mined from the earth, its value is only a perceived value... its has no real value beyond that.

[youngdrodeau]

$1,200 for a $55,000 car?HAHA.Ok,so how little are the auto workers supposed to make to build that car?Surely,if the value of the car goes down,the value of the work to build it has to go down.Ain't gonna spend $1000 (Just for the sake of argument.I don't actually know how much it cost to build a car) to build a $1200 car,right?But if car companies were willing & able to sell cars for a $200 profit,what's stoppin em from doin that now?

[youngdrodeau]

"..the price of gold hit an all-time low during the Depression year of 1931.And many people believe this was done on purpose to really twist the knife into the economy of the day."

HAHA.Dude,the price of gold fell because it was a Depression.Less people wanted gold.Not really the time to be tryin to "bling out".

[youngdrodeau]

OMFG.This is one of the stupidest video out.Gold CAN'T act as our medium of exchange.If you don't get that,you need to learn what money is & how economies work.

And none of the problems you name have anything to do with us not usin gold.The Fed printing our money on interest has nothin to do with gold.If gold COULD BE a medium of exchange,they'd just be chargin us to turn raw gold into currency.The real problem is that we're payin the Fed for a service we don't need.

[hotrod4you2]

hello hollywood,in the real world the usa owns a huge debt. liberals, dems,hollywood elite,n.easterner must start to realize and (accept it?) & understand how serious of a threat it is to them as well as the poor! no matter who's to fault.MR.BUSH COULD HAVE DONE MORE YES & OBAMA must take it serious,stop thinking tax w/fix,these r the people who hire&build bussiness.IT'S THE SOCIALIST IDEA TO TAKE TAXS! WHEN INNOVATION IS THE U.S WAY(stop fighting each other,no 1 is clean)BUT WE R N DEEP

[adam120890]

good vid

[SmokeRingsPipeDreams]

@silvercelli Fort Knox is already empty. It's a myth that it is full of gold. It was traded off and sold many many years ago.

[rampage241]

when I left zimbabwe in mid jan 09 a loaf or bread was 1.5 Trillion up from 500 billion 2 days earlier. I've seen this stuff happen with my own eyes before. This is REAL.

[MrSmackdown100]

The gold standard will not stop inflation. You stop inflation you need to stop credit .

[syprix]

So if America was still on the gold standard, I would be able to buy that corvette for 1200 bucks? But than I wouldn't be making as much money as I am now so that 1200 would be like a years salary.

[killlagger468]

@syprix Thats correct if you allow your brain to remain stuck in the Industrialization mind-box. If gold were to be the backbone of our currency its much easier to acquire that gold with a free-market economy in which no government agency gets involved. think this- since most gold is mined in south Africa, wouldn't it better to provide goods and services to that country in exchange for GOLD & SILVER instead of giving our services as "foreign aid" & then printing money out of thin air?

[groam6666]

If gold goes down back to a few hundred dollars, I will buy up everything I can, because it will go up again.

[BradNC11175]

@groam6666 The precious metals always rise and fall in value. Always has and always will. The bigger problem is your dollar is becomming increasingly worthless.

[MrKevMan]

The value of your comments, reflected by your puncuation and e-spell, is less than iron pyrate. 

I dont value gold. If there was only one loaf of bread left, and you had all the gold in the world, guess who would be eating bread and who would be sitting there will all the gold in the world, hungry because they cant eat the gold.

[Robert697]

@MrKevMan

Tell that to the people of Zimbabwe who are now panning for gold just to put food on the table. Watch this vid: watch?v=7ubJp6rmUYM

[MrKevMan]

@Robert697 Thats what they get for doing nothing throughout history other than be victims and squabbling primates.

[Robert697]

@MrKevMan

No, that's what they get for voting in an idiot (like Bush/Obama, Greenspan/Benanke) into office. Mugabe printed the Zimbabwe dollar to a point at which even a billion-dollar bill couldn't pay for bus fare. They've switched to using the USD.

BTW, this also happened in Germany pre-WWII /watch?v=41KXZHmIn-o, in Argentina /watch?v=PDKeQ4IACJ4, and even in ancient Rome, where the currency began to fall as the government began to debase their coins to raise armies.

[mansoorahmadq]

@MrKevMan

The value of money is not in our hand.

money is just a piece of paper, If the issueing athority dies or not able to pay u back its mean that ur money is also dies, and u r finish .

Issueing athority means Govt.

when Govt having less reserves , the value of ur paper money will go down.

And on the other hand if have Gold , u r save , your value of gold is in ur hand.

[yeahryt74b]

I wish the Sheeple would wake up.

[buzzclick500]

BernardoLang: 49 weeks straight on the Internet, and I find someone who knows what they're talking about, and does so clearly and concisely. Whew. Thank you.

[MrKevMan]

@LetFreedomRlng

You didnt read what i wrote, and if you did, you didnt understand it. I cant eat it, i cant protect myself from the elements with it, i cant entertain myself with it. It has no intrinsic value. Have you ever heard the term GOLDBRICK? A brick of gold may look nice, but it does nothing execpt sit there. It performs no work and contributes nothing of benifit.

[LetFreedomRlng]

You can't print gold and that is why it's money, it holds its value while currency can be printed into zero value like in Zimbabwe!

[MrKevMan]

@LetFreedomRlng

Things only have value to those who put value to it. I have no need for gold personally therefore it has no value to me. Air has more value to me than gold and air is free.

Rarity does not dictate value. Id like to sell you a blue maple leaf. Its very very rare. Much rarer than gold. What would you pay for it? What if i told you that it would heal all diseases, what is is worth now?

[mansoorahmadq]

@MrKevMan @MrKevMan

The value of money is not in our hand.

money is just a piece of paper, If the issueing athority dies or not able to pay u back its mean that ur money is also dies, and u r finish .

Issueing athority means Govt.

when Govt having less reserves , the value of ur paper money will go down.

And on the other hand if have Gold , u r save , your value of gold is in ur hand.

[cadrolls1]

End the FED!

[rosiertodd]

A gold or silver currency will only work if there is the right amount issued in US currency. You can't issue any amount of gold and silver and expect a top notch economy. All governments should know the difference between inflation and deflation. And what causes each to occur.

Inflation occurs when there is more money than there is production to absorb it. A deflation occurs when there is less money than there is production to absorb it.

Production absorbs money, whether gold silver or even fiat

[OpenComments]

NED for OTs Series 6

CONFIDENTIAL

BLOWING BTs AND CLUSTERS

Per the OT III materials, you can run Grades 0-IV on a BT, but it has to be addressed to that BT, and it rolls rather fast may only take 4 5 minutes.

You can Date/Locate clusters and run Inc II, Inc Is.

You can Date/Locate clusters and blow them off, but the auditor who does this has got to be a shark at D/Ling. Its the moment the cluster was formed that you date, not when the cluster hits the individual.

[OpenComments]

"Once the world is Clear - a nation, a state, a city or a village - the Scientology organization in the area becomes its government! And once this has taken place the only policy accepted as valid is Scientology policy."

— L. Ron Hubbard, from a lecture entitled "Future Org Trends" given January 9th, 1962

Your propaganda toward psychiatrists actually applies toward the Church of Scientology,with documented info of LRH wanting to take over governments. If you cared about corruption, stop this.

[rosiertodd]

All money does is represent things thats it and its that simple. Money represents gold, cars, television sets, ect, ect . Money even represents your hourly wages at work, you do make a certain amount of money per hour at work don't you? Well whats that money based on? Its based on the value of your work.

Sorry if I differ than the constitution but remember government is only an idea.

The best government there is isn't republics, democracy or monarchy, its really YOU.

[OpenComments]

"The great majority of Scientologists I know are good people who are genuinely interested in improving conditions on this planet and helping others. I have to believe that if they knew what I now know, they too would be horrified. " Paul Haggis, "Crash" director, Gawker Oct 25 2009

[rosiertodd]

If 1 silver quarter was once enough money to purchase 1 gallon of gas. And today you can use that same quarter valued at $3.11. You are still paying the same inflated price for that gallon of gas. Why? Because the quarter you are using is now worth $3.11. So you are still paying the inflated price for the gas regardless if your using silver.

[rosiertodd]

I totally agree that the US government should not have sold our gold to such banking wackos. However gold is not a practical money usage.

It runs out you've had it cause its scarce.

Also to add fiat money loses value cause governments overspend it. That is how the Fed operates, they are assisted by income tax.

Any country can issue fiat money with no inflation at all if the government prints the correct amount and doesn't overspend.

[OpenComments]

You should also agree that the government should do something about Scientology tax exempt status which it gained by adopting a hardball campaign against the IRS by doing the following:

- The IRS and its individual officers were sued for $128m.

- 2,500 lawsuits were launched vs the IRS.

- Private detectives were employed to find out what "crimes" IRS officials were guilty of in their private lives.

Scientology is a corrupt crime syndicate. David Miscavige beats his staff, Todd.

[MrKevMan]

Gold sucks. You cant eat it, it cant protect you from the elements, it cant entertain you. To me, gold is worthless. If its worth more to someone else, then ill sell you my gold, but dont expect me to pay a dime for it.

[LetFreedomRlng]

@MrKevMan Gold is Money and always has been for thousands of years. Currency is just a peace of paper printed by a private bank like the Federal Reserve. With nothing to back it, currency is worthless!

[MrKevMan]

@LetFreedomRlng

Water is more valuable than gold. Go without gold for a day. Go without water for a day. Which would you be desperately be wanting and needing?

Gold is not money. Its a non reactive high nobel metal with a low melting point and is very soft. Money is a representation of value, not actual value.

You are on a desert island, you can have a ton of gold coins, or a ton of food. Which would you choose and why?

[mansoorahmadq]

@MrKevMan

The value of money is not in our hand.

money is just a piece of paper, If the issueing athority dies or not able to pay u back its mean that ur money is also dies, and u r finish .

Issueing athority means Govt.

when Govt having less reserves , the value of ur paper money will go down.

And on the other hand if have Gold , u r save , your value of gold is in ur hand.

[MrKevMan]

@LetFreedomRlng

I fear you are an idiot. Its also piece of paper, not peace. Its also up to 60% linen, not just wood pulp paper.

Im sure you think you are such a patriot letting freedom ring and all that, but your mind is a slave and you arent even aware of it.

[ikb01]

wow you know that in islam the only money allowed is gold and silver? thisis common b/t islam is USA contitution

[StandUp555]

Well said ... keep educating people.

They need to know how the (corrupt FED) system works.

Thanks.

[MeatLoafEnchilada]

So much people don't know this, it pisses me off!

[LaCoinDog]

Outstanding Job!

[soley111]

"Money" are: a means of the uneducated and the lazy peoples' way of exploiting the 80% of the "hard-working" world's population and the resources,for the benefit of the other 20% of the population.

The only remedy lies in: "Re-Distribution of the wealth". But,I can see clearly that 20% of the people will object to that.

[isamtator]

the gold standard kept it down.

[isamtator]

we should go back to the gold and silver standards and it should stay that way. the stupidest thing they ever done was take the gold standard away from us this credit system sucks it will always suck. it has ruined this nations econnomy and it should end. i hate inflation the gold st

[FightDPower]

The video makes a valid argument. Still, 1891 to 1930 is not as significant (in terms of economic growth) as say, 1961 to 2000. Please keep this in mind while considering this argument.

[FireGuyX]

You forget that from 1913-till now, the dollar has dropped 90% in value.

[incahuascar]

Me ha gustado tu trabajo, aunque he tenido que pedir ayuda para entender. Te felicito.

Edu

[Hellspire]

Your vid sir is well put together. However, you should reconsider the historical problems associated with maintaining parity to gold. (Note well that I am not disclaiming the premise of your vid but asking you or others to respond to this)

[minesapint123]

You explain this very well. Thanks!

[kng863]

People save and GDP contracts. They know their neighbor might be kicked out onto the streets for wreckless borrowing. Meanwhile, all this time the "responsible" citizens hordes earnings from their job. You can have a millionarie live in a cheap shack. And a no income person live a mansion. The recent housing boom and default rates of borrowers of various incomes have proved this. High-earner doesn't mean financially literate.

[kng863]

Also, inflation can actually come down even if there was a huge credit injection by the Fed. Look at Japan after their housing boom in the 1990s, they went into recession even though their banks made all efforts to give people money to spend. People in Japan rather save than dig themselves deeper into debt. That's what's happening in the US right now. People have caught on that they don't need to live in overpriced homes. So GDP is contracting as people wait for the housing bottom.

[kng863]

The video has a point to a certain extent.  However, using the car as an example of currency debasement is a poor example because people don't NEED to buy that car. The value of $1200 to $55,000 adjusted for inflation means that labor costs would have inflated by that amount as well to maintain similar standard of living. A better analogy would be to use raw materials such as the price of eggs or wheat to strip out labor costs.

[allflip99]

Yes but eggs and wheat also have labor costs as well. The analogy of the car can be related to just about anything.

[kng863]

True, eggs/wheat have labor costs. However, those prices are more elastic with market forces. Assuming about the same quality of eggs, people can choose to buy from a different producer. The corvette isn't a good example because the price of $55,000 is arbitrary. The producer can set whatever price they like even if it's say $20,000 over invoice. I could say a lemon car is worth $55,000. I'm just saying that better examples would be to use items where it's not specific to a producer.

[C13glass]

Why doesn't he mention the Supreme Court ruling that ruled that the constitutional restriction on making anything but silver or gold legal tender applied only to individual states and not to the "United States" as a federal entity?

[kixdirtsevin]

5 star .. good job i will show this video to people, i have read that back in Rome a one once gold coin would buy you the same goods an once of gold would buy you to day.i keep telling people our paper money is not real, what do you mean they say ? then i ask them to tell me what makes it have solid power to buy and spend, you cant eat it and you can make as much as you wish if you have paper and ink.....

[UncleBen456]

True. I lived in the U.S. and our county sucks now because of this.