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DSK · 02-08-2016, 08:49 AM

Quote:

Originally Posted by CuteOldGuy

You are too stupid to be a true Libertarian. No Libertarian thinks that printing fiat money at will is a good idea. In fact, true Libertarians favor ending the FED and backing our money with gold or silver.

If that is your definition of a true libertarian I don't think you are very smart after all. It is free money...like legal counterfeiting!!! Instead of making something the old fashioned way, we just print the shit and get goods and services in return. It is the only way to give shit away to all the Democrats and not raise taxes.

I don't advocate printing it at will, anyway. We are doing it the right way, strategically printing it and pretending to be horrified about our deficit spending, and stopping it when we have to do so. The rest of the world does the same thing, plus it prevents deflation. Try to open your mind to the concept.

WTF · 02-08-2016, 09:10 AM

Quote:

Originally Posted by DSK

If that is your definition of a true libertarian I don't think you are very smart after all. It is free money...like legal counterfeiting!!! Instead of making something the old fashioned way, we just print the shit and get goods and services in return. It is the only way to give shit away to all the Democrats and not raise taxes.

I don't advocate printing it at will, anyway. We are doing it the right way, strategically printing it and pretending to be horrified about our deficit spending, and stopping it when we have to do so. The rest of the world does the same thing, plus it prevents deflation. Try to open your mind to the concept.

COG wants to go back to the Gold Standard. Might not be a bad idea but boy would it disrupt our political process!

DSK · 02-08-2016, 09:57 AM

Quote:

Originally Posted by WTF

I told you I been out of that business for a good while and in a cash position. Things go to shit around here, I could pick up some good deals.

Impeccable timing - could be a bloodbath if oil stays down, though I think it bottomed out in the high 20's.

DSK · 02-08-2016, 09:59 AM

Quote:

Originally Posted by WTF

COG wants to go back to the Gold Standard. Might not be a bad idea but boy would it disrupt our political process!

I find most people who hoard gold love the gold standard idea because it would make the value of their gold go up. Most who worry about it own about one ounce!!!

WTF · 02-08-2016, 10:32 AM

Quote:

Originally Posted by DSK

I find most people who hoard gold love the gold standard idea because it would make the value of their gold go up. Most who worry about it own about one ounce!!!

If COG owns an ounce of Gold, that's double the ounces of Common Sense he is in possession of.

BigLouie · 02-08-2016, 03:23 PM

Gold has lost 50% of its value since 2011. It's crap for a money policy

DSK · 02-08-2016, 06:41 PM

Quote:

Originally Posted by BigLouie

Gold has lost 50% of its value since 2011. It's crap for a money policy

I've also found gold sellers who make a commission claim it is a good investment!!!

CuteOldGuy · 02-09-2016, 12:00 AM

Quote:

Originally Posted by WTF

Are you saying Nixon was impeached for the wrong thing?

Where the hell did you get that from my post? Your contact with reality declines daily.

CuteOldGuy · 02-09-2016, 12:01 AM

Quote:

Originally Posted by WTF

COG wants to go back to the Gold Standard. Might not be a bad idea but boy would it disrupt our political process!

Yeah. It would make harder for the ruling elite to manipulate the economy for their own benefit, at the expense of the taxpayer.

CuteOldGuy · 02-09-2016, 12:04 AM

Quote:

Originally Posted by DSK

If that is your definition of a true libertarian I don't think you are very smart after all. It is free money...like legal counterfeiting!!! Instead of making something the old fashioned way, we just print the shit and get goods and services in return. It is the only way to give shit away to all the Democrats and not raise taxes.

I don't advocate printing it at will, anyway. We are doing it the right way, strategically printing it and pretending to be horrified about our deficit spending, and stopping it when we have to do so. The rest of the world does the same thing, plus it prevents deflation. Try to open your mind to the concept.

When have we stopped? Who is in charge of the printing? Who decides when, and how much to print? Who decides where to place it? You don't know, do you? I don't either, but I'll bet they don't have our best interests at heart. You're their pawn, and a moron.

DSK · 02-09-2016, 12:42 AM

Quote:

Originally Posted by CuteOldGuy

When have we stopped? Who is in charge of the printing? Who decides when, and how much to print? Who decides where to place it? You don't know, do you? I don't either, but I'll bet they don't have our best interests at heart. You're their pawn, and a moron.

http://www.federalreserve.gov/faqs/about_12784.htm

"Does the Federal Reserve ever get audited?

Yes, the Board of Governors, the 12 Federal Reserve Banks, and the Federal Reserve System as a whole are all subject to several levels of audit and review:

The Government Accountability Office (GAO) conducts numerous reviews of Federal Reserve activities.
The Board's financial statements, and its compliance with laws and regulations affecting those statements, are audited annually by an outside auditor retained by the Office of Inspector General (OIG).
The Board's OIG audits and investigates Board programs and operations as well as those Board functions delegated to the Reserve Banks. Completed and active GAO reviews and completed OIG audits, reviews, and assessments are listed in the Board's Annual Report. (Before 2002, the reviews were listed in the Board's Annual Report: Budget Review.)
The financial statements of the Reserve Banks are also audited annually by an independent outside auditor.
Each week, the Federal Reserve publishes its balance sheet and charts of recent balance sheet trends, as well as provides an interactive guide to the Fed's balance sheet. The balance sheet is included in the Federal Reserve's H.4.1 statistical release, "Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks."
In addition, the Reserve Banks are subject to annual examination by the Board. The Board's financial statements and the combined financial statements for the Reserve Banks are published in the Board's Annual Report.

See our audit page for more information on all of the above audits and more information on the accounting, financial reporting, and internal controls of the Federal Reserve Board and Federal Reserve Banks."

Who is the moron now?

CuteOldGuy · 02-09-2016, 01:46 AM

They have not done a full independent audit. They are only allowed to audit what the FED will allow them to audit. And you're still a moron. They need a policy audit. Yep, you're still the moron.

Oh. You didn't answer the question. Moron.

nevergaveitathought · 02-09-2016, 07:33 AM

Quote:

Originally Posted by BigLouie

Gold has lost 50% of its value since 2011. It's crap for a money policy

gold in relation to paper money goes up or down in value with the prospect of inflation

sometimes it gets ahead of itself either way, but that's the nature of all things

when more people than not believe inflation will occur, the cost of gold will go up in relation to the dollar

over time its been proven to be a store of value

an ounce of gold would buy a nice man's suit 100 years ago and it will do the same today

its a stabilizer when backing paper money

Jackie S · 02-09-2016, 08:20 AM

Quote:

Originally Posted by nevergaveitathought

gold in relation to paper money goes up or down in value with the prospect of inflation

sometimes it gets ahead of itself either way, but that's the nature of all things

when more people than not believe inflation will occur, the cost of gold will go up in relation to the dollar

over time its been proven to be a store of value

an ounce of gold would buy a nice man's suit 100 years ago and it will do the same today

its a stabilizer when backing paper money

I see it this way.

Gold has always been touted as an investment in the event of a worldwide catastrophic currency failure.

If that does happen, you had better be heavily invested in a couple of 12 gage shotguns, a hefty supply of shells, and canned goods.

Because if things get that bad, someone will not be after your gold, they will be after your food. They will cut your throat, leave the gold, and take the beans.

nevergaveitathought · 02-09-2016, 09:51 AM

Quote:

Originally Posted by Jackie S

I see it this way.

Gold has always been touted as an investment in the event of a worldwide catastrophic currency failure.

If that does happen, you had better be heavily invested in a couple of 12 gage shotguns, a hefty supply of shells, and canned goods.

Because if things get that bad, someone will not be after your gold, they will be after your food. They will cut your throat, leave the gold, and take the beans.

there are catastrophes and then there are catastrophes

you seem to be talking about end of the world roving bands of anarchy

that's not what i was talking about and its not the assumption one has when discussing most everything there is in this world