Gold standard debunked - Interview with Byron Dale part 3 of 3

Byron Dale is asked how The Ludwig von Mises Institute is advocating a gold standard, and can we or can't we go to a gold standard. Mr. Dale lays down the hard facts.




http://www.wealthmoney.org

Category:

Education

Tags:

• Byron
• Dale
• Wealth
• Money
• Debt
• gold
• standard
• debunked

[farhadekoohkan]

His example on Competing moneys is wrong. If I am going to New Jersey, I will try and get some New Jersey money before I go there just like when you go to Europe and buy Euro before you go there. Besides with Debit cards you can always go to an ATM and get the currency of wherever you are.

[TheByronDaleChannel]

@farhadekoohkan Would you be willing to have a phone conversation?

[iamgabrielf]

I'm aware of Schiff and his son. I'm a former goldbug. If you really want to debunk Dale's position, debunk the Bank of North Dakota. ND borrows money from itself at 0% interest. ND has paid zero cents in interest since 1919. In 2009, ND had its largest budget surplus - 1.3 billion dollars! It is the Benjamin Frankling and Abraham Lincoln banking system.

[gscash]

awesome video. byron knows more about money and it's creation than you dipshits would ever know.

[g4macdad]

@lomocan

The government has NEVER "created " money. Did you even WATCH the video?

[GnomesAmok]

@lomocan

So what?

[Quinvarius]

All this guy did was prove we need a gold standard.

[trex65ghia]

i got here watching a doc about the wizard of oz......this is the 3rd video of this man i watched... he is getting a lot of slack, but at 2:41 is where hes right....

[lomocan]

Gov/FED "creating" money dilutes the currency since there'll be more & more US dollars on the world market, further, as I've said, it devalues ordinary people's savings, the only people that benefit from "creating" money are gov & bankers because they're the FIRST ones to get hold of that money.

Please watch this video >>> watch?v=ToEgZnMUuno Every so called "problem" with gold standard has been exaplained & why it'd be the best & soundest form of currency we can have.

[lomocan]

It's laughable that he doesn't realize that "creating money" IS a form of tax on citizens. Let's say there's $1000 worth of US currency in the market & whole of US can let's say buy 10 goods while a certain American has $100 as savings so accordingly, he can buy 10% of what US can buy, next day, FED prints $500 so US currency is $1500 now but there're only 10 goods on the market but now the American can only buy 6.67% of what whole of america can buy, BECAUSE THE CURRENCY & SAVINGS ARE DEVALUED

[lomocan]

His solution is for FED to wave their magic wand & "create" money but he doesn't realize that it's really an erroneous belief, in fact, this is EXACTLY why US is in enormous amount of debt; don't've enough money for Social security - just "create" it, don't've money for benefits - just "create" it, but eventually it MUST be paid & this attitude of creating money only get US into deeper debt & destroy America.

[lomocan]

There's no such thing as "gov printing money according to production", FED DOES have a monopoly over money since it can print money at will. We can abolish FED tomorrow & stop printing of all new currency & still, production wouldn't be affected because people'll still put their money to produce things which'll create goods/services so now since there're more goods/services in supply, the prices will fall & that's it, even if quantity of money is stagnant, it has no effect on production process