DESPERATE GOP Claim ........

[tom barry]

Times change, and administrations change as well.

I remember gas under $1 a gallon. They squawked about it when it went over a dollar, then everyone moved on.

We remember gas under $2 a gallon, we squawked about it, then moved on.

We remember gas under $3 a gallon, we squawked about it, then moved on.

We're squawking about it heading for $4 a gallon.
Guess what ? We'll move on !!!!!!!!!

It's Inevitable.

 

[delldude]

Unless wages go up equally to offset, there's a hard ceiling ahead.

 

[777 fixer]

Pyrite?

Or maybe bricks filled with lead, tapered and then painted gold? 😉

 

[SparrowHawk]

Or maybe bricks filled with lead, tapered and then painted gold? 😉

To have money with an intrinsic value it need not be Gold. Gold was used for centuries as was Silver. What has been discussed is creating a "Market Basket" of Commodities that Gold & Silver would be a part of. While the backing remains unclear a few things are clear.

1. We can no longer sustain our empire AND honor our obligations to our citizens (Social Security, Medicare, etc). Hard choices must be made.

2. The Debt has risen to 100.5% of GDP. Most economists believe the "Tipping Point" of an unsustainable debt is when it reaches 80% Debt to GDP. Some of the Austrian School folks use 40% Debt to GDP. Either way 100% Debt to GDP is not going to work for long

3. Regardless of the pain of cutting back the scope of the Federal Government in order to balance the budget in short order will be less than the ultimate pain of pushing it down the road where there are fewer and even more painful realities,

4. Even mainstream publications and politicians are beginning to seriously question the Keynesian Economic model. There is a significant body of evidence to suggest it's a failed approach.

The above is true no matter who becomes POTUS. This is NOT a Rep or Dem issue. It has to do with global economics and how money works.

 

[777 fixer]

I'll repeat the question. Under a gold standard what happens when the Chinese show up with a couple hundred billions in US currency wanting thier gold?

 

[delldude]

I'll repeat the question. Under a gold standard what happens when the Chinese show up with a couple hundred billions in US currency wanting thier gold?

Like I said, just make it T bills, same outcome.

Do you know our next war will most likely be economic and have more devastating consequences for the nation than a nuclear attack?

 

[SparrowHawk]

I'll repeat the question. Under a gold standard what happens when the Chinese show up with a couple hundred billions in US currency wanting thier gold?

It's a Straw Man argument. I'm unaware of any case in history where a country demanded to be paid in gold once coin and paper money were created.

Secondly China has more gold in the ground waiting to be mined than we have in Fort Knox.

Thirdly, IIRC China has more gold in reserve now then we do so your scenario is unlikely. Equally unlikely would be China's ability to manipulate its currency if the US had money backed by something of intrinsic value.

 

[777 fixer]

It's a Straw Man argument. I'm unaware of any case in history where a country demanded to be paid in gold once coin and paper money were created.

Secondly China has more gold in the ground waiting to be mined than we have in Fort Knox.

Thirdly, IIRC China has more gold in reserve now then we do so your scenario is unlikely. Equally unlikely would be China's ability to manipulate its currency if the US had money backed by something of intrinsic value.

It's not a straw man argument. It's a legit question that you replied to with factual errors or things that are irrelevant.

You seem to be unaware that there is case history of countries showing up on our doorstep with US currency wanting gold. Guess your favorite OB/GYN and his Austrian School buddies never bothered to mention that.

How much gold China has in the ground or in reserve is irrelevant . That does not stop them from redeming US dollars fro gold if we were ever to return to the gold standard.

 

[SparrowHawk]

It's not a straw man argument. It's a legit question that you replied to with factual errors or things that are irrelevant.

You seem to be unaware that there is case history of countries showing up on our doorstep with US currency wanting gold. Guess your favorite OB/GYN and his Austrian School buddies never bothered to mention that.

How much gold China has in the ground or in reserve is irrelevant . That does not stop them from redeming US dollars fro gold if we were ever to return to the gold standard.

Doesn't stop them, but there is no legitimate reason at this time for them to do so.

Why would they risk their 50 Billion Trade Surplus?

Ever stop to think that IF the US and Europe went back to real money they would likely do it on a "Day Forward" basis? Meaning anything outstanding could NOT be exchanged for Gold. That would prevent any "run" on Gold.

Since you and Tech are so fond of demanding proof, I'll extend you the same courtesy. What are the specifics of other countries demanding Gold from the US?

 

[tom barry]

Unless wages go up equally to offset, there's a hard ceiling ahead.

Absolutely correct dell.

However, do you think that for a cintilla (SP?) of a second, that Exxon/Mobile gives a "Rats ARSE" about you/me/Sparrow/Dog/Fixer etc. ????????

THEY DONT CARE ! Because CAPITALISM...at-any-cost...Doesn't C A R E !
Never has, never will !!!

 

[delldude]

Absolutely correct dell.

However, do you think that for a cintilla (SP?) of a second, that Exxon/Mobile gives a "Rats ARSE" about you/me/Sparrow/Dog/Fixer etc. ????????

THEY DONT CARE ! Because CAPITALISM...at-any-cost...Doesn't C A R E !
Never has, never will !!!

Other than what Nancy and Harry told you about those 'evil rich oil companies' do you actually know and can provide factual info?

So standing in line for toilet paper and maybe having beef once every 6 months is a good future?

 

[tom barry]

Other than what Nancy and Harry told you about those 'evil rich oil companies' do you actually know and can provide factual info?

So standing in line for toilet paper and maybe having beef once every 6 months is a good future?

C'mon dell, from my point of view this ultimately has nothing to do with any politicians.
This has to do with..."What the market will bear", ...meaning, get Every F'n PENNY you can get for your/thier product. Do you think for a moment Exxon/Mobile would be charging LESS, just because the economy had rebounded ??? If you do, I have a bridge in BROOKLYN you might be interested in ! 🙄

After we REMOVE the "Nancy's/Harry's/Boehner's/McConnell's and the FATSO's from the equation, the bottom line WAS/IS and ALWAYS will be,.............get as much $$$$$$ as you can from the SUCKERS !

A gallon of Milk didn't stay @ .50 Forever. Times (Good and Bad) Change. Always have, Always will.

 

[delldude]

C'mon dell, from my point of view this ultimately has nothing to do with any politicians.
This has to do with..."What the market will bear", ...meaning, get Every F'n PENNY you can get for your/thier product. Do you think for a moment Exxon/Mobile would be charging LESS, just because the economy had rebounded ??? If you do, I have a bridge in BROOKLYN you might be interested in ! 🙄

After we REMOVE the "Nancy's/Harry's/Boehner's/McConnell's and the FATSO's from the equation, the bottom line WAS/IS and ALWAYS will be,.............get as much $$$$$$ as you can from the SUCKERS !

A gallon of Milk didn't stay @ .50 Forever. Times (Good and Bad) Change. Always have, Always will.

Gallon of milk analogy......didn't Lyndon Johnson get his paws dirty taking campaign money for milk price fixing?....... :blink:

Lower oil production costs ala EPA regs will help . Stop futures trading too.

 

[tech2101]

Stop futures trading too.

Just how does that get implemented?

 

[tom barry]

Gallon of milk analogy......didn't Lyndon Johnson get his paws dirty taking campaign money for milk price fixing?....... :blink:

Lower oil production costs ala EPA regs will help . Stop futures trading too.

Lets see,.....................Gas (today) $3.75, factor in less EPA, Gas NOW @ $3.50, minus Futures trading, gas now $3.35 around here. Still $3.75 in NYC, HNL, $4.00 in ANC AND CLIMBING !

Ficticious numbers of course, but you get my drift !

CAPITALISM at ANY Co$T....does NOT take Prisoners !!!!!!!!!!