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In the current monetary system.
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Since our money isn't backed by gold, they don't care WHAT the price of gold is or if it goes up or down. They do look at overall rates of price inflation which can include the price of gold however.
"Let it not be said that we did nothing."-Ron Paul
"We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book
Gee, I wonder how that happened?Fed President Williams Says Gold is Irrelevant in the Monetary System
The Bastiat Collection · FREE PDF · FREE EPUB · PAPER Frédéric Bastiat (1801-1850)
- "When law and morality are in contradiction to each other, the citizen finds himself in the cruel alternative of either losing his moral sense, or of losing his respect for the law."
-- The Law (p. 54)- "Government is that great fiction, through which everybody endeavors to live at the expense of everybody else."
-- Government (p. 99)- "[W]ar is always begun in the interest of the few, and at the expense of the many."
-- Economic Sophisms - Second Series (p. 312)- "There are two principles that can never be reconciled - Liberty and Constraint."
-- Harmonies of Political Economy - Book One (p. 447)· tu ne cede malis sed contra audentior ito ·
I can see that it might be in his monetary system . Real money though is very important in my monetary system.
Do something Danke
"Let it not be said that we did nothing."-Ron Paul
"We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book
Zippy?
In Zippy's absence I think I should go put all of my fiat into bitcoin. It's way different than numbers in a bank account.
.......
But on a serious note, anyone else think the bitcoin rage ($2200+) is a way for the bankers to remove fiat numbers from the ledger (drain FRNs from books) and into a less stable system they can crash at any moment, then claim bitcoin/blockchain was a scam that should have been regulated, and thereby taking over, and re-appropriating blockchain transactions? It has always reeked of a hegelian scheme to me and now it's in the hands of a Malta (ahem, Knights of....) based private equity firm.
Last edited by devil21; 05-23-2017 at 02:03 AM.
"Let it not be said that we did nothing."-Ron Paul
"We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book
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