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Hypothetical question : If the US Treasury/ Federal Reserve were to make an announcement saying that the US will never be returning to the gold standard (and fiat currency were permanent), and the Fed would no longer hold gold in its vaults, what would be the impact? What would be the attractiveness...
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If a country monetizes the debt, I seem to understand that gold (and commodities in general) will rise in value (in that country or worldwide?). But what happens to the value of gold and commodities if the country defaults, and what is the economics rationale for that? Thank you
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Thanks for your explanation. I have another point. Where does newly created money (inflation) end up? The most obvious is real estate, by giving out mortgages. Another obvious one is the (government) bond market, with government bidding up prices through spending. But what about corporate or business...
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[quote user="fakename"] I was wondering, do future's markets cause goods to be sold for a high price? I mean, the point of such markets is to store up goods for times of dearth so I would think that prices would be lower...but then time-preferences wouldn't be fulfilled. [/quote] Futures...
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I love Ron Paul, if only because he's bringing the debate over the Gold Standard kicking and screaming back into American Politics. I hope he gains some political steam, because I bet Obama could give a great, "Cross of Gold" speech that would be fun to watch! However, I was re-reading...
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Well to being first of all, simply, thoroughly, and to give a better understanding of the main pillar of American society....money. Money, what is it, what is its background, and why do we see it as a window to never ending happiness. Our journey takes us back to the land of Israel, Egypt, and Greece...
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Hi, this is my first post here. I was listening to Peter Schiff in 2006 predicting the collapse of the US housing market with outstanding accuracy. Similarly, he described the bursting of the dot-com bubble. In both cases assets were bid up by speculators with no regard for their underlying value as...
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I'm a newcomer to this school of thought (and pretty new to economics in general). I'm currently reading Israel Kizner's essay collection "The Driving Force of the Market" and I'm stuck on a point that he brings up in the first essay (called Entrepreneurial) about competition...
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I don't claim that this is the Austrian definition by consensus. A commodity would indeed be a divisible, material in which all parts are equal to each other in terms of specification. Examples for commodities: are minerals like coal, iron ore, salt. fuels like crude oil and diesel, chemicals, food...