The End of Dollar Hegemony by Rep. Ron Paul

[AZXD]

Originally Posted by Delija

Here's a little something scary that is somewhat apropos to the issue:

Dollar's clout sinks worldwide - Yahoo! News

But the economy is good

[Tempest]

Originally Posted by AZXD

An interesting reading method. Where did you learn it ??

Please show me where I am wrong instead of making stupid remarks.

[Krackels]

Originally Posted by Judge

The dollar is backed by gold - you can take it and exchange it for gold - as much as you want. This argument of 'backing' the dollar is ridiculous, it is simply a medium of exchange, the real value is in the exchange of goods and services - your time for food and clothes. By this true value standard, we've greatly progressed over the past 75 years - since getting off a strict gold standard - our lives have improved. What more do you really want or can you ask of monentary policy?

We could go back to gold... and you'd be back to making .50 to $1 a day and having' a hard time buying food and clothes - as most of our great-grandparents did.

No thanks.

What effect do you think printing less money would have on the value of the dollar?

[AZXD]

Originally Posted by Tempest

Please show me where I am wrong instead of making stupid remarks.

[Cogz]

Originally Posted by Tempest

No he wants to have competing currencies to prop up the dollar...WTF? He complains that printing more dollars causes inflation (true), and then turns around and wants to generate even MORE money that will compete with the dollar? Simply insane.

Competing currency wouldn't generate more money tempest, because the competing currency would have to be backed by something that is aquired in todays dollars. Thus, in order for lets say 1 gold backed dollar to be printed, the creators of the currency must have 1 current US dollar worth of gold that was bought in current US dollars.

The idea of competing currency is not that we put our faith in something that can be created and devalued on a whim, but based on a hard asset that has worth.

[Cogz]

If you consider the U.S. dollar backed by gold because you can buy it at exchanges like the ones listed -

THEN, you can also make the leap of faith that the U.S. dollar is backed up by Cherios, because I can go to the store and buy them with dollars too.

And partially that would be right. Dollars are only worth the value that they can be traded for. From my understanding, the difference between dollars being traded for gold, and buying gold with dollars is the mark up and service fees.

If I buy gold, I pay sales tax on my purchase. If I sell gold and take a profit, its taxed. That is not trading, that is selling.

[Frenchy]

If the value of the dollar falls, then the cost of buying oil goes up...And guess what...It has. Another Fed cut, and the dollar falls again.



Isn't this fun??

[AZXD]

Originally Posted by Frenchy

If the value of the dollar falls, then the cost of buying oil goes up...And guess what...It has. Another Fed cut, and the dollar falls again.



Isn't this fun??

Fun enough to make a knowledgable person cry.

[XDConvert9mm]

Originally Posted by AZXD

Fun enough to make a knowledgable person cry.

With the Inflation report that came out this morning (flat CPI) my guess is that the Fed will feel it has an open road to further cut rates. Never mind the fact that it takes 6 mos-1 year for the effects of cuts to really play out.......

Save your singles, they'll make great, cheap toilet paper if rates keep going down.

[Frenchy]

Originally Posted by XDConvert9mm

With the Inflation report that came out this morning (flat CPI) my guess is that the Fed will feel it has an open road to further cut rates. Never mind the fact that it takes 6 mos-1 year for the effects of cuts to really play out.......

Save your singles, they'll make great toilet paper if rates keep going down.

I saw that this morning, XDC...It does not bode well.

Someone suggested months ago that us "Paulites" treated RP like a God...I said more like a prophet.