DOLLAR VS GOLD STANDARD

DOLLAR VS GOLD STANDARD

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[ryuson2000]

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

[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.

[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.

[AllenJeffreyGurfel]

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

[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 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.

[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 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 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 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 ;)