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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 He considers gold as "outdated", and much too heavy to...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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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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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...
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Hello - I emailed the Mises Institute, and then Dr. Woods. Dr Woods referred me to your forum. Here is my situation. I am editing online content for high schoolers. When I am done, the content will be reused hundreds, even thousands of times. I have been assigned an American History course. One of the...
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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 saw this on an anti-Ron Paul site today. Some marxist said if America goes back to the gold standard it would either have to buy up all the gold on earth or it would have to find a way to take money out of circulation in order for the amount of money to equal the amount of gold. Is this true?