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http://www.economicpolicyjournal.com/2011/08/case-for-25000-per-ounce-gold.html I came across the above link (article text below) on Robert Wenzel's site yesterday. My comments are in bold & italics. I'm hoping some people will want to address my questions or make additional comments. Gold...
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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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I've been wondering for some time now why people don't currently use gold, silver, platinum, bananas, or whatever as a medium for exchange instead of dollars, euros, yen, etc. Are there laws in place forcing people to trade in dollars? There are plenty of other things available that could be...
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50% of its current value? less? more? why?
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Hmmm.. it is becoming interesting... Well, in regards to scarcity of gold, who said it should be gold.. or gold only? It could be several metals, gold, silver, platinum.... (anything else?) I can imagine several weight units of every metal (1 gm, 5 gm, 10 gm,... etc.) and free evaluation of each metal...
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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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Clayton, Excellent thread. I enjoy reading your posts because I have thought through the same implications. If Bitcoin performs as a money substitute with a strong exchanger network at the ready to redeem into specie (namely, gold and silver), then it can bridge both worlds. Scarcity is different and...
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I have been writing up stuff that I thought was interesting and related to the current economic mess. It has gotten a bit long but I really think it has many interesting things that I did not understand a year ago. I think other Austrian economist types will agree with most of it and still find new stuff...
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Hi all, I am a longtime reader of this website. I became interested in Austrian economics while studying for an economics degree at university. As you all well know, the standard college econ curriculum is all but useless in terms of its ability to actually inform ones opinions on the topic. Luckily...
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I think that President Obama plans to borrow more US dollars back from the Foreigners that earned the US dollars manufacturing US consumable products and then provide temporary jobs for unemployed US citizens to construct "Pork Barrel" projects, or rake leaves, or dig a hole today and then...