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Author Topic:   Investing In Inflation
kuresu
Member (Idle past 2513 days)
Posts: 2544
From: boulder, colorado
Joined: 03-24-2006


Message 7 of 85 (485440)
10-08-2008 2:33 PM
Reply to: Message 6 by Buzsaw
10-08-2008 11:36 AM


Re: What Gold Represents Monetarily
I'm not advocating a return to the gold standard as it is not going to happen nationally
I dare say. The individual states do not have the power to print their own monies. Banks don't have that power either.

This message is a reply to:
 Message 6 by Buzsaw, posted 10-08-2008 11:36 AM Buzsaw has replied

Replies to this message:
 Message 8 by Buzsaw, posted 10-08-2008 4:32 PM kuresu has replied

  
kuresu
Member (Idle past 2513 days)
Posts: 2544
From: boulder, colorado
Joined: 03-24-2006


Message 9 of 85 (485472)
10-08-2008 5:17 PM
Reply to: Message 8 by Buzsaw
10-08-2008 4:32 PM


Re: Creation Of Money
way to miss the point. You said you weren't advocating a return to the gold standard because it wouldn't happen nationally.
Well, if the return to gold happens, it has no choice but to happen nationally because states can't form their own currency separate of the USD.
I was pointing out that you slipped. You probably meant to say "globally", not "nationally". That you went into a diatribe against the Fed act of 1913 just shows your inability to understand you said something wrong.

This message is a reply to:
 Message 8 by Buzsaw, posted 10-08-2008 4:32 PM Buzsaw has replied

Replies to this message:
 Message 13 by Buzsaw, posted 10-08-2008 8:46 PM kuresu has replied

  
kuresu
Member (Idle past 2513 days)
Posts: 2544
From: boulder, colorado
Joined: 03-24-2006


Message 17 of 85 (485516)
10-09-2008 5:44 AM
Reply to: Message 13 by Buzsaw
10-08-2008 8:46 PM


Re: Parsing Slipping Points
do you not understand what nationally means? Your sentence "it's not going to happen nationally" is non-sensical. There aren't individual parts of the country that can go onto the gold standard, because that would require them to have a separate currency, which they do not have the power to do.
So if the US goes back to gold, it will happen nationally. It can't be adopted in some states and not others. If we don't go back, then it won't happen nationally, but it also won't happen by state.

This message is a reply to:
 Message 13 by Buzsaw, posted 10-08-2008 8:46 PM Buzsaw has replied

Replies to this message:
 Message 20 by Buzsaw, posted 10-09-2008 9:25 AM kuresu has replied

  
kuresu
Member (Idle past 2513 days)
Posts: 2544
From: boulder, colorado
Joined: 03-24-2006


Message 21 of 85 (485533)
10-09-2008 10:35 AM
Reply to: Message 20 by Buzsaw
10-09-2008 9:25 AM


Re: Parsing Slipping Points
Are you kidding? Nationally can be applied globally? Is your brain that far removed from your senses?
There is not one single definition or usage of nationally that can mean globally. Nation, at its core, is inherently anti-global if you understand anything about national movements. You know, primacy of the ethnic group? Exclusivism?
To be fair, global necessarily includes multiple nations, but acts common between them (such as the recent interest rate cut between Canada, chunks of Europe, and the US) are global acts.
You know, you couldn't define straight. Now you can't define nation either. Quit while you're behind buz. It'll stop making you look ignorant.

This message is a reply to:
 Message 20 by Buzsaw, posted 10-09-2008 9:25 AM Buzsaw has replied

Replies to this message:
 Message 22 by New Cat's Eye, posted 10-09-2008 11:21 AM kuresu has replied
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kuresu
Member (Idle past 2513 days)
Posts: 2544
From: boulder, colorado
Joined: 03-24-2006


Message 23 of 85 (485549)
10-09-2008 11:59 AM
Reply to: Message 22 by New Cat's Eye
10-09-2008 11:21 AM


Re: Parsing Slipping Points
He seems to be saying the return to the gold standard won't happen nationally as opposed to globally, as in, one nation isn't going to do it
You're going to have to explain that further. Let me see if I get this straight. What buz means is this: the return to the gold standard will happen globally.
Oh, I already got that. He chose to make his point in as murky a manner possible. That's what I was pointing out. There's being obtuse and then there's using words wrong.
You're trying too hard to find a way for him to be wrong instead of trying to understand what he is actually saying.
I understand what he's saying. I don't think he does. I don't think he understands the entire point of my first post. I'm not sure you do. It's important to understand what people are writing. When people make it unecessarily obtuse, dense, or just plain wrong it's dangerous (if intentional) or a symptom of ignorance. I don't think buz was intentionally trying to confuse his sentence so I chalk it up to ignorance of how English is used.
It's just like using "constipation" for "consternation".

This message is a reply to:
 Message 22 by New Cat's Eye, posted 10-09-2008 11:21 AM New Cat's Eye has replied

Replies to this message:
 Message 24 by New Cat's Eye, posted 10-09-2008 12:14 PM kuresu has not replied

  
kuresu
Member (Idle past 2513 days)
Posts: 2544
From: boulder, colorado
Joined: 03-24-2006


Message 57 of 85 (486614)
10-23-2008 7:46 AM
Reply to: Message 54 by Buzsaw
10-22-2008 7:21 PM


Re: Central Banks
I suppose the president is acting in an unconstitutional manner when he negotiates trade deals, right?
You've heard of the Smoot-Hawley Tariff Act, right? It's the last trade bill congress really passed. It raised individual tariffs on roughly 20,000 items--causing a trade-freeze and worsening the Great Depression (other countries retaliated by raising tariffs om USA-made goods). After that, congress said, all right, we'll have the president do this. Thus the Bretton Woods Agreement and the GATT (forerunner to the WTO).
Of course, you're misunderstanding of the constitution is quite clear. Clause 18 applies to all the powers of congress. Congress decided that a federal reserve system would be appropriate for regulating our currency. Congress doesn't print money either--it delegated that power to the treasury, an exectutive branch office. Is that unconstitutional?
Of course, there's little anyone can do to control the value of the USD because it's not on a fixed exchange rate (you can thank Nixon for taking us off gold and any semblance of a fixed exchange rate). Sweden, since you're so familiar with them, had a currency crisis in the early 90s, causing the central bank to raise interest rates to 500% in an effort to maintain a fixed exchange. Didn't work.

This message is a reply to:
 Message 54 by Buzsaw, posted 10-22-2008 7:21 PM Buzsaw has replied

Replies to this message:
 Message 62 by Buzsaw, posted 10-23-2008 8:47 AM kuresu has not replied

  
kuresu
Member (Idle past 2513 days)
Posts: 2544
From: boulder, colorado
Joined: 03-24-2006


Message 59 of 85 (486619)
10-23-2008 8:06 AM
Reply to: Message 56 by Phat
10-23-2008 5:27 AM


Re: The Amero and the dollapse of the U.S.Dollar
I wouldn't trust buz when it comes to monetary matters. If he can't understand the constitution (and buys into the conspiracy theory about income taxes, iirc).
I've never heard of the amero, but the quick reading I'm doing now suggests that it simply won't happen. Canadians don't like the idea of a single monetary union (they would have to adopt our monetary policies), mexicans (at least Vicente Fox) do, and americans have probably never heard of it.
At any rate, unlike the euro, where you have France, Germany, and Great Britian{abe*} all being relatively equal in terms of economic output (2 trillion GDP(ppp), 2.8 trillion, 2.1 trillion), Canada, Mexcio, and the US are nowhere near close (1.25 trillion, 1.35 trillion, and 13.8 trillion, again, GDP(ppp)). Europe also has, at least Western Europe, a similar economy. Canada, Mexico, and the US has disparate economies with quite different ideas as to what's best (and different realities for what's best). Not only is that an massive obstacle, the USD has a ton of advantages that could be lost or weakened by adopting a new currency.
Put simply, there is no reason the US would give up the advantages it has with its currency (which is actually gaining ground against other currencies, especially the SEK, where it's now one whole crown stronger than a month ago, or moving from 6.6 SEK-USD to 7.8 SEK-USD).
Read up on it on wiki.
{abe*} I forgot that Great Britain is not part of the EMU (euro). Silly me. Still, the EMU is spread over a region where there is no single, completely dominating economy.
Edited by kuresu, : No reason given.

This message is a reply to:
 Message 56 by Phat, posted 10-23-2008 5:27 AM Phat has not replied

  
kuresu
Member (Idle past 2513 days)
Posts: 2544
From: boulder, colorado
Joined: 03-24-2006


Message 82 of 85 (487148)
10-28-2008 3:29 AM
Reply to: Message 80 by Buzsaw
10-27-2008 11:12 PM


Re: Central Banks
Congress has had a Democrat majority the past 8 years
Hey buz, I know you're disconnected from reality, but this is a pretty egregious lie. The Dems claimed the majority in the house and senate in 2006, fourteen years after the repubs in 1994.
And please, understand the CRA before you criticize it. Yes, it mandates loans. But within safe and sound lending practices, and only regulated banks could make them.
F&F were caught in a different mess, this one created by mortgage companies who weren't regulated and by people who simply saw an untapped market. Think about it--the CRA has been making loans since the 70s and we haven't seen this kind of crisis until Wall Street found a way to make money and a ton of money was left over from the last bust (dot-com) which was the ninvested in housing, sparking the new bubble.

This message is a reply to:
 Message 80 by Buzsaw, posted 10-27-2008 11:12 PM Buzsaw has replied

Replies to this message:
 Message 84 by Buzsaw, posted 10-28-2008 10:24 AM kuresu has not replied

  
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