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Dr. Paul is right – but unfortunately I think his remedy is too late. He correctly identifies the cause, which is our weakening dollar and corrupt/inept leadership.
Unfortunately, the powers-that-be would rather fix the problem with more ‘band-aids and pain killers’ instead of suffering through the side-effects of major surgery.
If the american people had more balls they would start the surgery themselves. It is their right.
#24 The fed was started in 1910, and gold standard abandoned in 1933. But international gold standard didn’t end until 1971, again thanks to Nixon.
The fed brought us the roaring 20’s and the great depression. Gold was the same before the 20’s and during. The fed exists because of the thinking that a free market can’t actually work without intervention. I think that it’s a fallacy. Who says it won’t work? The government.
#32 “The fed exists because of the thinking that a free market can’t actually work without intervention. I think that it’s a fallacy. Who says it won’t work? The government.”
Right on the money! (pun also intended and included at no added cost) 🙂
#29. “Why do you post the crap from Ron Paul? He’s a tard…”
What an intelligent and insightful comment…may I quote you? Bravo.
I’ve been expecting a staggering depression due to run away inflation when the dollar no longer has any real value on the world market for most of my life. It looks like it will hit about the time I retire.
It will most likely take about ten years to recover assuming that stupid/greedy people don’t make it last a lot longer.
There is no free lunch and this nation is so for in dept that a collapse followed by a slow recreation of a money system is going to be staggeringly painful.
Tent cities and shanty towns are already growing in this nation yet our brain dead leaders blather on about how rich we are and continue to assume dept at a staggering rate.
That’s because they are all rich and so are all the people they know and love and can’t image themselves not having all the money they could ever want to play with.
The best hedge against social chaos:
not gold, not derivatives, not bond ETF’s, not life insurance, –
Land in Montana with water rights and the ultimate commodity: ammunition – lots of it.
“calmer than you are…”
#35 – “Tent cities and shanty towns are already growing in this nation…”
They are? I’ve been around a number of urban areas, NY, Detroit, Chicago, LA, SF, there are plenty of homeless, maybe more than ever. I’m not seeing shanty towns and tent cities, except the one off Market in downtown SF that’s been there for years. Where are these new ones popping up?
The comments in this thread makes me sad.
You are all getting scammed!
# 12
Who are you talking about? McCain or Obama?
Bobbo, Nigeria becomes rich when you leave a gold standard. Gold prices go up when you are not on a standard, since the government’s primary incentive is to water down the money. Gold was $35 an ounce before Nixon dumped it, then up to $800 over the next decade. Eventually there was a defacto gold standard of $350, and that lasted through Clinton’s first term. Since then Greenspan and then Bernanke ignored it, and now gold is back to $800.
Consider that the big runups in oil prices happened after we left the gold standard.
#40–Mike==I see you have made a number of posts. Hard to spend any time at all when you post as you have done here.
You say: “Consider that the big runups in oil prices happened after we left the gold standard.” /// Until you correct and apologize (or explain?) this apparent joke, your posts aren’t worth reading at all.
Explain yourself.
RE: Gold vs Oil vs Income
From 1968 to 2007 the cost of a bbl of Oil rose from $3.18 to $64.20 per bbl — a 20 fold increase. Adjust for inflation in 2008 dollars, that is a 3.4 fold increase. Wow.
From 1968 to 2007 the cost of an ounce gold rose from $38.69 to $695.39 per ounce — an 18 fold increase. Adjust for inflation in 2008 dollars, that is a 3 fold increase. Wow.
Ounce for bbl, the cost of gold has stayed pretty close to the cost of oil.
From 1968 to 2006 the average family income rose from $50,823 to $78,454 — a 1.5 fold increase. Adjust for inflation in 2006 dollars, that is a 1.6 fold increase.
It appears that the average household income dropped by half of what inflation rose by over these 35-odd years.
The M2 money supply rose about 13 fold from 1968 to 2005 (which is when the Fed stopped publishing that data . . .).
An interesting point here is that averaged over that same time frame, the cost of an ounce of gold rose by approximately 13 fold.
Does this mean the average American family is only half as rich as they were in 1968?
This is what happens when you inflate the money supply. This is why the credit crisis exists. This is why the Fed must go. They print money at their whim and steal the money from your pocket without you even knowing it.
You may think loaning the money to these institutions will save us but in the end all it is going to do is make us poorer.
*Sigh*
So few people get what Ron Paul is saying.
Majority opinion is that of fools deperately clinging to the transperent lie that Dr. Paul is a racist.
Result: The Federal Govt. going bankrupt is the only politically viable outcome.
Is the dollar a worthless scrap of paper yet?
No, it is backed by the full faith and credit of the Federal Govt. Unfortunately, that entity is on an exponential path to total corruption.
You do the math.
“I’m keying off the support and admiration for Ron Paul and your own reference to buy gold.
Ron Paul is a huge supporter of returning to “the Gold Standard.” ”
No, Paul is for competing currencies which is something totally different than the past system. That would leave the consumer to choose from a commodity based currency or not. In such of a system if one currency fails it does not take out the entire market. On the other hand people would have to deal with the inconvenience of exchange. Given that we live in a digital age that can be taken care of easily.