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Here's a post I saw on Yahoo! Answers the other day I haven't considered it yet, but what does happen next? This post jumps out: "If Ron Paul holds the view that abolishing a central bank is a good idea, then he is even more naive than I gave him credit for. Money has the property of collecting...
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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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I just read an article saying that it appears that China, and perhaps the other BRIC countries, is exploring (and actively moving toward) the idea of implementing Keynes Bankor global currency idea. Does anyone know anything about this proposal and its consequences? There is no mention of it on Wikipedia...
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Hello to everyone in the Mises community. My question concerns a problem that seems to undermine the long-term stability of a commodity-backed currency (such as a gold standard). First, suppose that we had a gold standard. Why would anyone want to actually own any gold at all? Aside from its practical...
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I was listening to Peter Schiff, and I heard him say that you don't have to give up a fractional reserve system as long as you tie it to gold. However, I thought you would want a 100% reserve currency because otherwise the money supply could still change based on the amount of credit in the system...
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Thanks for posting the link. I thought the video was interesting but I don't agree with a lot of what it says. Here are my main disagreements: -The author seems to think that a constantly growing money supply is necessary. -The film condemns all credit transactions where interest is charged, as opposed...
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There must be people on here that are aware of Roy Jastram's fascinating work "The Golden Constant". Its a book sized piece on the gold/commodity ratio from 1580 until 1976. Its a great read if you know about Mises' theory on the interest rate and the Gibson's paradox observation...
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You are thinking of a situation when a local currency is used. One can only use this money locally:[quote]Depreciating community-owned currencies There was a time when people were so convinced that the earth was flat, that the idea that it was round was inconceivable. Likewise today, the idea of a community...
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[quote user="Libertas est Veritas"] Where as with a commodity backed currency (that you can exchange for that commodity) you can simply take the commodity and buy products from another country. [/quote]... What hinders you to take the fiat currency and purchase commodities or other currencies...