• Quick note - the problem with Youtube videos not embedding on the forum appears to have been fixed, thanks to ZiprHead. If you do still see problems let me know.

Federal reserve debunkers I need alittle help

Tippit said:
The Fed doesn't worry about inflation. The Fed and its benificiaries worry about how to disguise the Fed as the cause of inflation, and how to walk the line of what is politically and economically tolerable.



The Fed doesn't attempt to "temper" the business cycle, they and fractional reserve banking are the cause of the business cycle. This was proven by the Russian economist Kondratieff.
Click to expand...
Ah, so it's a huge conspiracy... :rolleyes:
 
WildCat said:
Not similar at all. Real estate will never be worthless. In most parts of the country, the value of real estate has gone down only a few percentage points. Hardly the same thing as a stock becoming worthless overnight.
Click to expand...

Darn, and here I was worried that my 4 bedroom house was the next pets.com. :D
 
And here is Tippit repeating the same old canards ...

Inflation is a monetary phenomenon, specifically the problem of too much money chasing too few goods.
Click to expand...

No. Extreme cases of inflation (hyper-inflation) is strictly a monetary phenomena. A surge in the demand for goods and services can be the cause of inflation even if the monetary authorities leave the money supply intact. The simplest supply and demand model can be used to demonstrate this:

http://upload.wikimedia.org/wikiped...nd-demand.svg/240px-Supply-and-demand.svg.png

Claiming that inflation is a strictly monetary phenomenon ignores the many events that can affect the demand of an economy (population growth, foolish lawmakers, reduction in the marginal propensity to hold savings ... ).

And this is just from the demand point of view. You can also have supply shocks that would have the same effect on the price level keeping the money supply intact.

Please Tippit, make an effort and come up with something that an introductory level economics student can't refute.
 
Last edited:
Greenspan on Gold

Mr. Greenspan - Maestro,

Why don't you tell us a little about your paper: Gold and Economic Freedom
 
Last edited:
Max Photon--

50% Physicist
50% Chemist
50% Economist

ETA: 50% English intellect

Speaking of gold, if, as all of the gold peddlers say, the dollar has been, and will continue to be, so grossly devalued and gold's value is skyrocketing, why are they so willing to trade their gold for my dollars?
 
Last edited:
Max Photon said:
Wharton should demand its degree back.


MBAX
Click to expand...



Inanimate buildings cannot make demands. Great example of someone being so pedantic that they miss the essence of the message.
 
Last edited:
BenBurch said:
Wow, what a heaping load of steaming brown custard this fed criticism is. And, ultimately, I believe it has its roots deeply in anti-Semitism.
Click to expand...


I particularly enjoy when the tax evaders claim that 100% of federal income tax is applied to the Fed to pay the federal debt; then cannot tell me whence the money comes to fund the military, among other things. I wonder about Max's position on federal income tax.
 
The FED helps obliterate fixity in standards.

BenBurch said:
Wow, what a heaping load of steaming brown custard this fed criticism is. And, ultimately, I believe it has its roots deeply in anti-Semitism.
Click to expand...


Um, Ben...

I think the criticism of the FED has less to do with anti-Semitism, and more to do with the notion that fixity in standards - you know, a fixed meter, a fixed liter, a fixed economic unit - a stable "one" - benefits society.

Would a "flexible meter" help engineers build a factory?

Why would a "flexible or floating dollar" help in the financial domain?


By the way, none of this has anything to do with goldbugs, or FED conspiracy theorists, or tax protestors. (Mince, my position in federal income taxes: pay every penny due.)

The simple point is that gold is the most rational basis for a global system of credit (as the global credit system if finding out).


Max
 
Last edited:
Max,

Even fully reserved currencies inflate. Even worse, they have a great tendency to DEFLATE. And liquidity vanishes. Go re-read the Autobiography of Benjamin Franklin for his view on what happens where there is too little money. It was a real problem. And it was solved by printing scrip. And if you don't think scrip is real money, then you don't understand what money really is.

-Ben
 
Max Photon said:
Um, Ben...

I think the criticism of the FED has less to do with anti-Semitism, and more to do with the notion that fixity in standards - you know, a fixed meter, a fixed liter, a fixed economic unit - a stable "one" - benefits society.

Would a "flexible meter" help engineers build a factory?

Why would a "flexible or floating dollar" help in the financial domain?
Click to expand...
Go ahead Max - spend all your dollars buying gold. When the gold market crashes (and it will) you can ponder your predicament.
 
Max Photon said:
The simple point is that gold is the most rational basis for a global system of credit (as the global credit system if finding out).
Click to expand...


Why do you think gold sellers so willing to take my drastically devalued American dollar?
 
Mince said:
Why do you think gold sellers so willing to take my drastically devalued American dollar?
Click to expand...

Max will never admit this, I think, but the reason is that gold is not money.

Gold has been USED AS money in the past largely because it is so difficult to counterfeit; Archimedes solved the problem of telling real gold from debased gold long ago, and thereafter there was little utility in forging a gold coin.

But I think we are staying one step ahead of the counterfeiters these days, so there is really no need whatsoever for gold coins as currency.
 
Come on Ben, go for the gold: What is the best "1"?

BenBurch said:
Max will never admit this, I think, but the reason is that gold is not money.

Gold has been USED AS money in the past largely because it is so difficult to counterfeit; Archimedes solved the problem of telling real gold from debased gold long ago, and thereafter there was little utility in forging a gold coin.

But I think we are staying one step ahead of the counterfeiters these days, so there is really no need whatsoever for gold coins as currency.
Click to expand...


Ben, your simplicity gave me an ice-cream headache.

Tell me Ben&Jerry, what would make the best economic "1", if not a unit that is a fixed weight and purity of gold?


By the way, did you mean the counterfeiters, or the counterfeiters?
 
Last edited:
No Mince, I really mean it: You ARE worth something.

Mince said:
Why do you think gold sellers so willing to take my drastically devalued American dollar?
Click to expand...


To make it look like your drastically devalued American dollar is worth something.
 
Max Photon said:
Ben, your simplicity gave me an ice-cream headache.

Tell me Ben&Jerry, what would make the best economic "1", if not a unit that is a fixed weight and purity of gold?


By the way, did you mean the counterfeiters, or the counterfeiters?
Click to expand...

So just becuase you can fix the weight and puity of gold that makes it the base for a monetary system? Why use gold then? You can fix the weight and purity level of water too, would it make a good base for a monetary system? Why not?
 
Billdave2 said:
So just becuase you can fix the weight and puity of gold that makes it the base for a monetary system? Why use gold then? You can fix the weight and purity level of water too, would it make a good base for a monetary system? Why not?
Click to expand...


Could someone toss him a twinkie and get him out of here?
 
You must log in or register to reply here.

Back
Top Bottom