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You can't print gold by clicking on a button on a computer and flood the market ad nauseum. Gold has been the standard the world has fallen back on time and time again. Fiat currencies ALWAYS fail. What do you suggest other than a finite commodity? Shells and goats? Seriously, what would you suggest as an alternative to fiat currency/printed money? That's what I thought...
U R just doing your retarded 'kill-the-messenger' dance because U like 2 pray 2 your 'gold god' the 'conspiracy' sites have programmed U 2 worship. U may B interested 2 know most of them R owned by gold brokeridges. Open yer' eyes - 'doomsday press' is about pimping gold.
Gold can B cornered & artificially manipulated just like N E other commodity - U would think oil would have taught U that - yeesh.
To keep interest rates low, you need to print more money. And you have to increase the money supply *drastically* to keep interest rates this artificially low. What that does in the short term is create a mass of unwise investment that manifests itself as a bubble. Then you get massive oversupply because people aren't living in X amount of them, they're just flipping them. Bubble bursts due to overpricing and oversupply and the bottom falls out of it. Housing, Tech Boom, Commodities, etc.
Yes, the austrian business cycle is a logically sound argument. I agree with it. However, try finding it in academe; especially in international monetary relations and money and banking classes...which are essentially macro solutions to problems filled with abstruse and VERY INCONSISTENT models and theories.
It was very hard to find Austrian ideas when I was an undergraduate, and, when found, they were acknowledged with enthusiasm by the students rather than most professors-- academic bias.
If being a Ron Paul fiscal conservative and Constitutionalist who thinks we should abolish the income tax, dismantle the Federal Reserve and sign onto the gold standard makes me a Libertarian, at least as far as things financial, fiscal and economic, then thank you. I am wanting nothing less than an American philosophical, scientific and cultural Renaissance. Anything less and I think we fade into history like many once great nations, dragged down by morons who don't know Africa isn't a country.
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thank you for fighting for our freedom! ^_^
Gold can B cornered & artificially manipulated just like N E other commodity - U would think oil would have taught U that - yeesh.
It was very hard to find Austrian ideas when I was an undergraduate, and, when found, they were acknowledged with enthusiasm by the students rather than most professors-- academic bias.