Testing The Financial Apologists

But what they are selling will continue to hold value while according to you what the get will continue to loose value.There are lots of ways to earn dollars, why trade a loser for a winner?

But you said gold was money in a previous post. Is it money or is it not?So the value of everything is depndent on gold?
Are you truly this stupid or just nuts?

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If a gold coin trades for $2,300.00 today and $3000.00 a year from now, it means that the fiat money--be it paper or digital, is valued less than a year ago in ounces of the precious metal. One mistake that many make is that they claim that gold changes value when in reality the fiat money changes value. Otherwise, it would make little sense for Central Banks to even own gold. Gold is their insurance.

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You are making a bigger mistake. If the price of gold increases faster than inflation, then surely its value has increased. It may be wrong to compare dollar amounts but surely it is right to compare what those dollars could buy at the time.And the price of gold is a consequence of the banks holding large stockpiles as you ought to understand. If the banks weren’t keeping large amounts of gold out of circulation the price would be lower. There is no absolute value in the price of gold.

Huh? India isn't too far behind the US at about 84% debt to GDP.

Lets ask Missouri. Missouri House Committee Passes Bill to Treat Gold and Silver as Legal Tender
The best part of this grassroots effort is this:
SB735 would also exempt the sale of gold and silver bullion from the state’s capital gains tax.(...)Passage into law would make Missouri the fifth state to recognize gold and silver as legal tender. Utah led the way, reestablishing constitutional money in 2011. Wyoming, Oklahoma, and Arkansas have since joined.One point that I dislike about progressives is that they seek to tax everything. If my state has its way, that sort of bill would not pass here. Basel III, Gold, The Dollar And The Great ResetYes, I know that you will point out that most of my sources are in business, but I might have said before that many of my sources are wealthy libertarians. If it comes down to government vs capitalism, I will always go with capitalism. Its time for the government to quit sticking its nose into free commerce(except to enforce legalities.) In my opinion, precious metals should be on an even tier with federal reserve notes and should *not* be taxed for capital gains.

Well...you refuted my assertion, but it gives me pause to think. Why on earth is debt *not* a problem? I disagree vehemently with this Modern Monetary Theory crap.

Wiki:

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Modern Monetary Theory or Modern Money Theory is a heterodox macroeconomic theory that describes currency as a public monopoly and unemployment as evidence that a currency monopolist is overly restricting the supply of the financial assets needed to pay taxes and satisfy savings desires.

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One cannot simply continue to create money out of nothing. It is a socialist principle that punishes savers. This whole common good mantra is unrealistic unless you advocate redistribution of wealth.

Why do you think that a loaf of bread once cost a nickel? Why do you think that you once earned $400.00 a month and would be poor today on that same amount? The Never-Ending Fiasco of Fiat Money (From Foundation for Economic Education)

Alan Greenspan:

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Gold is a currency. It is still, by all evidence, a premier currency. No fiat currency, including the dollar, can match it.

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FEE:

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Fiat money is simply paper that has been made legal tender by government decree. All fiat monies have three things in common:

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For one, the state (or its agent, the central bank) has a monopoly on its production.

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For the other, it is produced by way of bank credit expansion; in other words, it’s literally created out of thin air.

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And finally, it has no inherent use value. Fiat money is just brightly colored paper and intangible bits and bytes that can be produced at any time and in any amount deemed politically expedient.

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Governments want to exert total control over the quantity of money so they can manipulate its buying power to suit their political ends
Gold stands in the way of such machinations, so it had to go.

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Honestly, I think that the Conservatives and Libertarians will never agree with the progressives on these issues.And knowing you, you would have the capital gains for the "common good".

Which part of there's not enough fucking gold to function as currency in the United States economy of 328,000,000 individual consumers!?Apparently you didn't learn in grade school that paper money was invented so we didn't have to carry all that fucking gold around with us!ABE:It should be obvious, because everyone wants to get ahead. It's called economic growth. Try convincing a single one of your co-workers that they don't deserve to be paid more than they were last year.

The point is that just because the denomination increases does not put one ahead.Years ago I made $15.00 an hour. Now I make $24.00 an hor and yet can buy no more than I did then.And unless this nation solves its debt problem, within ten years every penny of tax dollars will only pay the interest on the debt.

Interesting, and yet it does answer your question why a loaf of bread used to cost a nickel. And if gold was our currency, it would not change the fact that people still want to get ahead. And what does gold have to do with the debt? Is the U.S. debt gold or worthless paper? Are you saying you have a solution to what you call "the debt problem?" Not if the tax code is revised to make the top 5% pay their fair share for the benefits they receive and that the rest of us currently pay for. A huge, huge, huge portion of the national debt is to pay for tax cuts for the ultra wealthy! THAT'S THE FUCKING DEBT PROBLEM!

If we don't tax, how do things get paid for? How is govt funded?
Why should gold be exempt from taxes? Why should the wealthy be exempt from taxes?A poor libertarian. Hilarious.
Show me one economy in history that did not tax or was based upon libertarian "principles"

Show how it punishes savers. What do you know about saving?

Cherry picking again? Did this ever become law? Do you know? I do.Is the state going to supply every shop with scales and a means to assay? How do they give change? How do you price things in gold without using the dollar value of gold? Can I mail gold to pay taxes, or do I have to bring it in? Do you not see how this destroys your basic premise?

We tried Gold Dollars and can certainly return to Gold coins. The last ones minted had about a half ounce of gold and so set the price of gold as $2.00 an ounce.To keep coins transportable we can set the price around that level or make coins with almost no gold content and turn gold into another fiat currency.

That was excellent, but this sort of feedback just rolls off Phat now. He thinks we disagree with his methods because we disagree with his views. He can't accept that his methods, mainly seeking out a certain style of YouTube video, are fallacious. He believes we're all out there doing the same thing he is, finding the right YouTube videos or experts to believe. Actually comprehending something isn't in his playbook. Even his own history of following fads and addictions isn't providing any perspective for him.--Percy