Random site poll; should we return to the Gold Standard?

Discussion in 'Currencies' started by Aengrod, May 6, 2012.

  1. Aengrod

    Aengrod Member

    Joined:
    Jan 23, 2011
    Messages:
    877
    Likes Received:
    1
    Trophy Points:
    16
    Location:
    Thingamajigland [Europe]
    http://debates.juggle.com/is-a-return-to-the-gold-standard-a-good-idea

    The People have spoken!


    :lol:
     
  2. DanDee

    DanDee Active Member Silver Stacker

    Joined:
    Nov 21, 2011
    Messages:
    1,342
    Likes Received:
    8
    Trophy Points:
    38
    Location:
    NSW
    This is someone arguing AGAINST the gold standard!

    well, we wouldn't want people providing themselves with personal economic security would we?
     
  3. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

    Joined:
    Nov 15, 2010
    Messages:
    18,611
    Likes Received:
    4,396
    Trophy Points:
    113
    This took me forever to do up, what with a dodgy combuter and all -


    [​IMG]
    Source: James Rickards Currency Wars, p243

    Money supply defined -

    [​IMG]
    Source: http://en.wikipedia.org/wiki/Money_supply

    What are the chances of our bolliticians willingly adobting any gold standard, nil. Only a total economic collabse will force them to consider it.
     
  4. Aengrod

    Aengrod Member

    Joined:
    Jan 23, 2011
    Messages:
    877
    Likes Received:
    1
    Trophy Points:
    16
    Location:
    Thingamajigland [Europe]
  5. LovingtheSilver

    LovingtheSilver Active Member Silver Stacker

    Joined:
    Jan 4, 2010
    Messages:
    1,372
    Likes Received:
    6
    Trophy Points:
    38
    Location:
    Perth
    Once Yuan (or basket of commodities/currencies)has been officially declared new world currency we will see gold involved some way or anothet, but not before.
    It will be usef after the dust has settled, at what new value, who knows? Quite possibly less than what it is now.
     
  6. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

    Joined:
    Nov 15, 2010
    Messages:
    18,611
    Likes Received:
    4,396
    Trophy Points:
    113
    More of the same waste of time, neither solution, either the Yuan or a basket of commodotities/currencies will brovide international monetary stability.

    The Yuan on its own would be no better solution than the US dollar has been.

    Multible reserve currencies mean the continution of the bresent situation, but instead of having one major currency not anchored to anything of value as is currently the case, well have multible currencies adrift in the maelstrom.

    And baskets of commodities/currencies or Sbecial drawing rights have no basis as money. Wheat has no value as money - it can be exchanged for something else, but only with reference to monetary value. Furthermore, the body resonsible for administering SDRs would be the IMF. A body with no democratic accountability.
     
  7. Aengrod

    Aengrod Member

    Joined:
    Jan 23, 2011
    Messages:
    877
    Likes Received:
    1
    Trophy Points:
    16
    Location:
    Thingamajigland [Europe]
    Every fiat currency that achieves reserve status is abused to the extreme, Yuan would be no different, probably even worse.

    About SDR - no way. IMF is basically controlled by US. BRICS wont fall for it.

    As Butler said in the Financial Sense interview: Gold vigilantes will probably do the work.
     
  8. glam

    glam Member

    Joined:
    Apr 10, 2011
    Messages:
    159
    Likes Received:
    2
    Trophy Points:
    18
    Location:
    Adelaide
    I think there may be something wrong with your combuter. Berhaps it is only a keyboard broblem, or maybe it's your sbelling or some kind of sbeach imbediment?
     

Share This Page