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Thread: The Importance of Gold to a Nation and its People

  1. #1

    The Importance of Gold to a Nation and its People

    It's Our Currency And Our Problem



    Most Americans don't understand that gold is not an investment- it is an asset or an insurance policy.


    Gold is money.


    A country's currency not backed by gold is only as good as the soundness of its monetary and fiscal policy.


    The Fed's QE's dollar printing scheme is a clear abuse of monetary policy and running trillion dollar deficits and having unfunded liabilities in the hundreds of trillions of dollars is a sign of imprudent U.S. fiscal policy.


    The average life expectancy of a fiat currency is 27 years.


    In contrast gold has been money for thousands of years.


    Gold knows no political instability, conducts no reckless monetary or fiscal policy, doesn't defaut or threaten to default on its obligations, doesn't rely on electricity or a network to retain its value, doesn't require trust in human institutions or human stewardship.


    The United States can no longer ignore or dismiss the complaints that other countries have about the debasement of the dollar.


    It's time to realize: It's our currency and our problem.


    http://smaulgld.com/importance-gold-...s-individuals/



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  3. #2
    Dude...

    I missed you pimping out your economics blog. Welcome back. Or have you been here and I just didn't notice?

    Either way, I might read if I feel like it later. Depends on whether or not I feel like you deserve my click...

    After all, my click is worth an ounce of gold to me, hombre.
    Quote Originally Posted by Sister Miriam Godwinson View Post
    We Must Dissent.

  4. #3
    Quote Originally Posted by Smaulgld View Post
    The United States can no longer ignore or dismiss the complaints that other countries have about the debasement of the dollar.
    Why not?
    Quote Originally Posted by Swordsmyth View Post
    Pinochet is the model
    Quote Originally Posted by Swordsmyth View Post
    Liberty preserving authoritarianism.
    Quote Originally Posted by Swordsmyth View Post
    Enforced internal open borders was one of the worst elements of the Constitution.

  5. #4
    Quote Originally Posted by TheCount View Post
    Why not?
    Because unless the US can coerce use of the dollar, they won't use it if they don't like the debasement of it. You will see countries doing more non dollar deals like this http://www.zerohedge.com/news/2014-0...oil-ruble-yuan

  6. #5
    Quote Originally Posted by Smaulgld View Post
    Because unless the US can coerce use of the dollar, they won't use it if they don't like the debasement of it. You will see countries doing more non dollar deals like this http://www.zerohedge.com/news/2014-0...oil-ruble-yuan
    So what?
    Quote Originally Posted by Swordsmyth View Post
    Pinochet is the model
    Quote Originally Posted by Swordsmyth View Post
    Liberty preserving authoritarianism.
    Quote Originally Posted by Swordsmyth View Post
    Enforced internal open borders was one of the worst elements of the Constitution.

  7. #6
    Quote Originally Posted by TheCount View Post
    So what?
    Such actions create a drop in demand for the dollar. If countries don't need dollars to buy oil they won't hold US treasuries. If there is a decrease in demand for the dollar two things could happen

    1 the value of the dollar drops causing imports to rise in price.
    2. foreigners dump dollars causing further price inflation and the need to raise US interest rates.

  8. #7
    Weaker dollar also means our export to other countries are cheaper for them to buy- creating more jobs here. And higher priced imports will mean domestically produced goods will be better deals so demand for them will also rise. A strong dollar is why so many jobs were outsourced to places like India and China.

  9. #8
    Quote Originally Posted by Zippyjuan View Post
    Weaker dollar also means our export to other countries are cheaper for them to buy- creating more jobs here. And higher priced imports will mean domestically produced goods will be better deals so demand for them will also rise. A strong dollar is why so many jobs were outsourced to places like India and China.
    Eventually that is true but in the short term keep in mind the US has lost a large segment of its manufacturing capacity which means
    - prices for many items like electronics, refrigerators, lawn mowers, TV's air conditioners bicycles that are no longer made in the US would skyrocket
    -and there would be a retooling period



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