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My wife and I save on a regular basis. I personally love the idea of owning precious metals, and do purchase them often. We're throwing around the idea of keeping all or at least most of our cash above our emergency savings in precious metals. On one hand, I can see a huge safety net in converting...
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I used to believe in protectionism. Several users here tried to persist me to abandoned it, but they did not take me seriously. But after reading Milton Friedman, I can say that I am absolutely convinced that protectionism is nonsensical > this is because the foreigners don't sell goods for dollars...
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I've gotten into several debates with a Keynesian friend of mine who believes that the reason the gold standard was left was not because the government wanted to go to war or something, but because "the people demanded it". He considers gold as "outdated", and much too heavy to...
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Sorry, I couldn't find a topic about this with the search engine. A search for LETS brings you to let's a search for local exchange brings you to stock exchange , etc. So what is the Austrian view or your view of local monies in the current economic climate? Are they valuable? In Germany, 65...
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The purpose of this post is to show that it is technically possible to implement a gold standard today. Many criticisms against the gold standard claim that it is not possible to shift to a gold standard. These criticisms range from – the money supply will fall, there will be chaos if many agencies...
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What is the mechanism whereby interest is charged on borrowing money, in a system with a relatively fixed money supply? Assume there is $1k in the system. I borrow $100 at 1% interest. Where does the $1 i pay in interest, come from? What if 50% interest? quick answers appreciated. thanks.
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Fri. 12/06/22 18:31 EDT . post #179 Assuming "industrial production" is measured in terms of money, then one question is: Are the money numbers corrected for inflation, or not? If not, then how are we to know if actual production is increasing, or just the money numbers (reflecting continuously...
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I made an account here to ask a question I have been pondering for some time. I understand why a gold standard might be a good idea, what the problems with fractional reserve banking is, why central bankers cant get the rate right, why falling prices isnt a bad thing and so on. Say a country adopted...
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Bill Fleckenstein recommends gold above all as a hedge against money printing from the Fed and the ECB. In one or two years you'll be thankful, he tells King World News : Tomorrow the Fed is probably going to bring QE3 and meanwhile Europe is in a state of disarray. All of that will sort itself out...
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I heard a statement from Peter Schiff yesterday and I’m having some trouble thinking about it. The average Ford worker in Henry Ford’s era (1914) earned approximately $5 per day in wages – the equivalent of 1.25 ounces of gold per week. The average Ford worker today earns approximately...