Ron Paul thinks gold is money

fast_eddie_72 wrote: In our current situation we have some means to affect our own currency.

As do others that hold your currency... get my point? With gold, everybody had the same currency = level playing field is what I am getting at.

I understand what you mean, but as you pointed out, the actual practical version is not nearly as strong as the theoretical version of having your own currency. Maybe better, maybe not, time will tell.

OK, since some of you guys are far more intelligent than a guy with a Ph.D. from MIT, I'll leave further discussion to you.

As for me, I am -

Dollar Bills are worth what they are because we all agree that they're worth that. Gold is worth what it is because we all agree that it's worth that. Arguing over it is semantics. People who get all up in arms over the horrible dangers of paper currency being created from nothing don't start hyperventilating if I find a gold nugget in the river and sell it. Which, when you think about it, is pretty foolish. What if we adopt gold as a standard, and next year someone develops a process to extract and purify gold that's dramatically more efficient than previous methods, driving prices down to nothing. A hundred and fifty years ago, aluminum was more valuable than gold. Now we need to be bribed not to throw it in the trash.

The folks who clamor for "stability" in pegging our currency to gold act like they are presenting a solution while in reality they are contributing to instability by actively working to undermine confidence in our present system. I like a lot of what Paul thinks, but he's out to lunch on this issue.

Otto Maddox wrote: As for me, I am -

In possession of low roll resistance and high centers?

I don't see how that is relevant.

If I had not already left, I'd explain that Audi 5000 is slang for I am out of here. But a lot of people probably would say I am wrong on this. Audi 5000s can be exchanged for goods and services, so they are clearly units of money.

This is one issue I wish Ron Paul would put on the back burner, I do believe we should get rid of the Federal Reserve system though. I just wish he would concentrate more on that aspect than the gold.

Otto Maddox wrote: If I had not already left, I'd explain that Audi 5000 is slang for I am out of here. But a lot of people probably would say I am wrong on this. Audi 5000s can be exchanged for goods and services, so they are clearly units of money.

I have been paid in BMW engine parts but never Audi 5000s. They have no inherent value and therefore cannot be used as currency.

Otto Maddox wrote: If I had not already left, I'd explain that Audi 5000 is slang for I am out of here. But a lot of people probably would say I am wrong on this. Audi 5000s can be exchanged for goods and services, so they are clearly units of money.

I was gonna ask if we got transported back to 93 when I saw that picture.

But no, Audi 5000s aren't units of money, they are goods.

Not very good....goods, but goods nonetheless. Tis a barter if you do or trade something for an Audi 5000. Or a ripoff.

HiTempguy wrote:

fast_eddie_72 wrote: In our current situation we have some means to affect our own currency.

As do others that hold your currency... get my point? With gold, everybody had the same currency = level playing field is what I am getting at.

I'm sorry, but I don't think that's right. Quantitative easing, like it or not, is in essence expanding the pool of money. If "money" is gold, you can't easily expand the pool.

And as a point of clarification- what exactly is it people endorcing the gold standard are advocating? Do you mean a gold bullion standard? And if so, how exactly would you suggest we implement that?

Giant Purple Snorklewacker wrote:

Otto Maddox wrote: As for me, I am -

In possession of low roll resistance and high centers? I don't see how that is relevant.

I am pretty sure he is trying to tell you he is LEANING LEFT.

I meant this -

or maybe this -

Or -

Or for the tea partiers -

and lastly -

Google Fiat money... but not this:

Otto Maddox wrote: and lastly -

Fixed that for you!

T.J. wrote: Our failure to adequately understand exponential growth is a major shortcoming.

It's amazing, isn't it?