20 Replies to “Paul Vs Bernanke”

  2. We don’t produce gold, we mine it, pan it and discover the gold which has been already found, lost or hidden and then becomes treasure.
    These calculations are done so as to make it rare and hold its value, much like diamonds and oil. How do they really know? These guys sit in their classrooms, boardrooms and offices and dream things like this up and then put out an article to see if they get any bites and get their 15 minutes of fame.
    Reminds me of Al Gore, actually!

  5. Gold is the perfect (most value-able)commodity.
    100% fungible
    99.9% durable (no oxidation, can be vaporized)
    easily transformed
    easily transported
    easily refined
    broad applications
    almost universal
    100% recyclable
    limited availability
    These unique and unparalleled properties are the gold standard.
    Foreign exchange rates vary based largely on perceived, and therefore real monetary unit to gold valuations where the monetary unit is evaluated. Gold runs pure price and demand. Yes there is speculation but it is not a currency, rather a currency index.
    Monetary unit to gold value, valued monetary unit to goods and services etc.
    Gold can crash, but this sequence will remain the same.
    Take gold out of the equation and the speculative value of the monetary unit is without foundation and will eventually collapse.

  7. Canada used to have one of the largest Gold Reserves in the world. 700 Metric Tonnes. Chretien and Martin the two self proclaimed economic genius’s of the Liberal Party sold it all off, starting in 1995/96 until 2002. Most of it for less than 200/0z..

  9. The fact that none of the money from the sell off of Canada’s Gold Reserves has ever shown up on the books of the Gov. of Canada or the Central Bank of Canada should raise concern, but it has been kept very quiet by the Liberal leaning msm in Canada. I have written my MP and asked him why it was sold off and where did the money go, so far he has not responded. Maybe more Canadians should write their MP’s and ask..

  12. If you are labouring away on some rice paddy in southeast asia or tanding to cocoa trees in africa or any other dirt poor part of the world where poverty is everywhere the one form of money that is at the very base and most valued and most liquid is the US dollar. The reason is simple no other country can guarantee that it will be around to honour that currency the way America can. THAT is why the chinese flock to it despite the spendthrift ways of the current US administration and many of its states.
    The greatest investment ever made by man was the US’ investment in its armed forces – imagine what the US dollar would be worth if it had a military as weak as Canada’s.
    Yes, it can be argued that even a country as strong and secure as the US could fritter it all away, but that will be a very very long time from now.
    Gold has no worth in the poorest parts of the world – they have no means of proving its purity, of establishing its value – it usefulness as an actual currency is barely of the bronze age for its efficiency and accuracy – certainly nothing you could base a modern economy upon.

  15. And the perceived difference between counterfeit dollars in the 3rd world and Bernanke’s QE2 dollars is….

  17. Funny…..I have been in third world countries and it is not unusual to find vendors that know the price of gold to the hour…..and they know how to determine its purity too.
    But the truth is that as one gets poorer, different things take on more value…food, water, shelter, etc. And at the end of the day if things get REALLY bad, the most valuable commodity is lead.

  18. I don’t get this fascination with a gold standard. In the past it wasn’t used in the manufacture of much beyond jewelry and its supply was limited because it was hard to come by. So it was something we had a known quantity of that couldn’t be counterfeited. Making it a great item to represent a unit of production. Today however, we’re much better at finding and mining it, and it’s used in all manner of products. So the only real plus left is you still can’t counterfeit it.
    Money is production. Without production, there is no money. Neither the paper dollar or gold can buy something that doesn’t exist.
    Soon the paper dollar will be replaced completely by the electronic one. Whether the electronic dollar will be easier or harder to “print” more of, will depend entirely on who’s running the government(s).
    The question always has and always will we be, do we continue to allow/acquiesce/elect those who think money creates production, rather than production creates money to rule us? It’s the answer to this question, not a gold, paper or electronic standard that will decided the value of money and what production to create it will happen.

  20. Well Dustin, you’re right that wealth comes from production but gold is a reserve of production. You could go get gold if you want to, but that takes away your ability to produce so you can trade your production for gold which is someone else’s production. Other commodities could be used but gold has a long list of great attributes. Currency can be trusted as a store of wealth only if a government chooses year in, year out, decade in, decade out to maintain its purchasing power; this hasn’t happened, the Anglo-sphere and the Swiss are the only places in the world where currency hasn’t gone to zero in the last 100 years and the US and UK are working hard on changing this.
    http://tlc.discovery.com/videos/sarah-palins-alaska-gold-mining.html

Proudly powered by WordPress & Skyrocket Themes

MENU

Navigation